Tata Motors reported a 20.73 per cent rise in its total sales for November. File/Agence France-Presse
India’s goods and services tax (GST) panel is unlikely to approve lowering the tax for the auto and allied components sector this week, as a study has warned of major revenue losses, two government officials said.
Tata Steel plans to cut costs across its European operations, the company said, as the sector wrestles with excess supply, weak demand and high costs. Earlier, a source close to the
Indian automakers Tata Motors and Mahindra and Mahindra (M&M) said on Friday they would cut production at some plants in response to slowing demand that industry executives say has driven the sector into one of its worst downturns.
As Finance Minister Nirmala Sitharaman prepares her budget, the World Bank reports India’s economy grew by 7.2 per cent in 2018-19 in contrast to the recent Indian Central Statistical Office (CSO) estimate of only 6.8 per cent growth during the period. The Bank’s Economic Prospects Report released on Tuesday
Brent crude futures climbed 19 cents, or 0.3%, to $56.10 a barrel while US West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.4%, to $52.81 a barrel.
Spot gold was down 0.1% to $1,849.16 per ounce while US gold futures eased 0.2% to $1,847.50.
The UAE has succeeded in providing all public and private services, which greatly contributed to mitigating the expected impact of the pandemic on the real estate sector, thanks to the proactive measures of the government, says Binghatti.