Govt gifts Rs 1.45-trillion incentive for 10 manufacturing sectors

In a move that has lifted the industry sentiment in the festival season, the Union Cabinet on Wednesday approved a Rs 1.45-trillion package by extending the production-linked incentive (PLI) scheme to 10 more sectors (see chart). The policy for what the government calls the champion sectors has been tailored to attract investments, boost domestic manufacturing, enable companies to become part of the global supply chain and generate employment opportunities.

The latest approval is in addition to the already announced Rs 51,311-crore PLI for three sectors. With this, the total incentives under the PLI schemes come to Rs 2 trillion.

The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.

Among the 10 sectors approved on Wednesday, the largest chunk of the incentives, at over Rs 57,000 crore, would go to automobile and automobile components businesses followed by ACC battery at over Rs 18,000 crore.

Pharma products, for which Rs 15,000-crore PLI was announced, include patented drugs, biopharmaceuticals, phytopharmaceuticals (herbal), drugs not made in India, cell based or gene therapy products and orphan drugs (for very rare

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Google curtails free photo storage, pushes users to buy more space

Alphabet Inc’s will start limiting how many high-quality photos users can store on the company’s cloud back-up service starting next June, it announced on Wednesday, in a move that could help protect profit margins.

“Growing demand for storage” means Photos can no longer honor a years-old policy of unlimited capacity for high-quality images, the company said in a blog post. Storage of images, along with files in Google’s document editing services, will instead be capped at a combined total of 15 gigabytes.

“Original quality” images, or incredibly high-resolution copies, were the only ones to previously count against the limit. Google’s plans for additional storage, dubbed One, start a $2 a month.

More than 1 billion people use Google Photos each month, but the company estimated fewer than 20 per cent of them will need to upgrade for extra storage in the next three years.

Google has faced eroding profits in recent years as it invests heavily in cloud storage systems without experiencing a related increase in revenue. But the company this year has been aiming to close the gap by adjusting perks of its

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Is now the right time to trade the UK financial markets?

The FTSE 100 Index is currently trading at multi-year lows, not for lack of enthusiasm among traders, but by dint of the devastating effects of the global pandemic.

The vaunted FTSE 100, a bastion of pride for Britons, has posted 1-year returns in the region of -19.50% (3 September 2020).

Compare this to the stellar performance of the S&P 500 index which is up 20.17% over 1 year, or the NASDAQ composite index which is up 46.34% over 1 year. The differences are striking to say the least, but trading opportunities still abound in British markets.

Source: FTSE 100 Index Bloomberg

Major UK Companies on the Brink

Stock market performance in the UK has been lacklustre to say the least. High levels of volatility, low confidence, and low growth prospects are the norm. However, there is still plenty of money to be made by correctly calling stocks vis-a-vis bullish and bearish signals. Presently, several industries are reeling from the pandemic notably travel and tourism, energy (oil, natural gas), and tech stocks. The BBC ran an op-ed by Robert Plummer, listing a host of industries currently under financial strain. These include additional industries in the form of road haulage companies, ferries,

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