Here is a roundup of the day’s top stories in brief.
1. Rs 1.46 Lakh Crore Incentive Programme
India approved an incentive program worth Rs 1.46 lakh crore ($20 billion) to attract companies to set up manufacturing in the South Asian nation, Finance Minister Nirmala Sitharaman said.
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The government will offer production-linked incentives to 10 sectors including automobile, solar panel and specialty-steel makers over a five-year period, she said after a meeting of a ministerial panel on Wednesday.
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Textile units, food processing plants and specialized pharmaceutical product makers are also eligible for the incentives.
“This is something that will immediately give greater impetus to manufacturing,” Sitharaman said.
2. Ambani’s Newest Price War
As India this week hits the peak of its biggest shopping season, Mukesh Ambani’s retail websites — including JioMart — are elbowing their…