India Budget 2023 highlights
印度2023中央總預算亮點
Numerous recommendations made in the Union Budget 2023–24 for the benefit of taxpayers came as a big comfort to India’s middle-class salaried population. The introduction of streamlined tax slabs and an increase in tax rebates was one of the key budgetary takeaways from Finance Minister Nirmala Sitharaman’s presentation of the budget on February 1. This fiscal year will begin on April 1, 2023.
However, the new tax regime—which the FM claimed was purposefully created that way so that more people choose it—includes streamlined tax slabs. Despite the celebration of the verdict, many people still don’t know how to operate under the new system. This budget also focused on raising capital expenditure, fiscal consolidation, and green growth.
Government bans 232 Betting and Loan Apps linked to China and other countries
印度政府封殺232個和中國等國家有關係之賭博與借貸APP
According to sources, the government has issued orders to restrict 94 quick loan applications and 138 betting and gambling apps for “improper data storage and transmission” to other nations as well as money laundering.
The Ministry of Electronics and Information Technology’s most recent directives prohibit 232 apps in total. The IT ministry issued the blocking orders based on information and input from a source in the Union Home Ministry, and some of these apps are of Chinese origin.
The government has prohibited around 400 games, photo editing programs, online browsers, and other apps that have connections to China and have been involved in the illicit use of Indian people’ data during the last two years.
Government Blocks 232 Betting, Loan Apps With Chinese Links: Report (ndtv.com)
Centre To Remove 252% Import Duties To Develop India a Testing Hub
印度將減免252%的汽車零件稅 期望將印度打造為車體安全測試中心
To promote India as a hub for automotive crash testing around the world, the government has eliminated significant tax burdens, the net duty of more than 250% on cars, several components imported for accident impact and endurance trials, and restrictions on the import of certain classes of cars, including left-hand drive (LHD) vehicles.
According to the Minister of Heavy Industries, significant duty slabs of up to 252% that were imposed on vehicles and parts imported into India for crash tests have been eliminated by the government in the most recent budget.
The decision was made because India wants to make the testing centers world-class, centers of excellence, and able to serve customers from around the world.
India’s customs duty change to dial up local phone production-tax official
印度關稅減免將提高本土手機生產量
After the government removed import restrictions on several components used to make high-end phones from global companies like Apple Inc., India expects to produce more mobile phones this year.
Between April and October of 2022, Indian mobile phone exports increased by about twofold year over year to $5 billion, mostly due to the government’s major programme to provide incentives to local manufacturers.
Finance Minister Nirmala Sitharamam removed the 2.5% customs duty on some mobile camera phone parts during the annual budget for 2023–24 on Wednesday.
Important Minerals Policy to Reduce Dependence on China
印度政策將降低對中國礦物的依賴性
India, which is heavily dependent on China, intends to release a policy framework and time-bound action plan for the exploration, processing, usage, and recycling of critical minerals in the country. This is a crucial first step towards achieving energy independence as well as sectoral self-sufficiency.
The announcement of a comprehensive critical minerals (CMs) strategy is anticipated later this month as interministerial negotiations on the proposal are almost complete. Critical minerals (CMs) like copper, lithium, nickel, and cobalt, as well as rare earth elements (REEs), are essential to the development of clean energy technologies because they are required for the manufacture of everything from electric vehicle (EV) batteries and electricity magnets to solar photovoltaic cells and wind turbines, all of which are experiencing phenomenal growth in demand on a global scale. At present both the concentration of mineral reserves and the processing of essential minerals are dominated by China.
Critical minerals policy soon to reduce dependence on China – India Seatrade News
Partnership between STM and Foxconn, Vedanta, for an Indian semiconductor manufacturing facility
毆商STM和富士康，印商Vedanta將合作建立半導體生產廠
STMicroelectronics, a European chipmaker, is almost ready to join Foxconn and Vedanta as a technology partner in their proposed semiconductor chip production facility in India.
The joint venture (JV) that was announced in February of last year would have Foxconn as its principal partner. One of the five applicants for government incentives under a $10 billion programme unveiled in December 2021 to support local semiconductor manufacturers is the Vedanta-Foxconn cooperation. Foxconn, which is one of the largest electronics manufacturing companies in the world will invest close to $70-80 billion towards chip manufacturing.
An indigenous hyperloop developing in Chennai
清奈正在研發超迴路列車 預計6個月後完成
India will get its first hyperloop circuit for testing in around six months. A 400-meter track will be built in a 2-meter-diameter tube at the new IIT Madras “Discovery Campus” in Thaiyur, close to Chennai. Since 2018, an engineering team at IIT Madras has been working on the hyperloop project known as Avishkar. The team also has competed in a number of international events. The team also has competed in a number of international events.
The project is currently getting ready to move through the development stages for commercialization in collaboration with a technology startup called TuTr Hyperloop.
The inter-city passenger version’s target speed is 600 kmph and beyond, whereas the target speed range for the cargo version is 100 to 250 kmph.
An indigenous hyperloop takes shape in Chennai, Auto News, ET Auto (indiatimes.com)
Cusat professor wins project under Indo-Taiwan cooperation
科欽科技大學博士與屏東科技大學合作研發吳郭魚疫苗
Punnadath Preetham, an associate professor in the marine biology, microbiology, and biochemistry department at the School of Marine Sciences, Cusat, has been awarded the project under the India-Taiwan programme of cooperation in science and technology 2022 for the creation of an aquatic vaccine.
The award is for the “Vaccine Development for Streptococcus agalactiae and Streptococcus iniae in tilapia and hybrid grouper” project, which was carried out in partnership with the veterinary medicine department at National Pingtun University of Science and Technology (NPUST), Taiwan.
Preetham, the project’s principal applicant from India, will carry out its execution together with Dr. Shih-Chu Chen of the NPUST department of veterinary medicine. A grant of Rs 70 lakh would be given to the three-year initiative.
Cusat Prof Wins Project Under Indo-taiwan Cooperation | Kochi News – Times of India (indiatimes.com)