Business and Economy Information

                                                          Business and Economy  Information

Before the introduction to Business Economics, you should have an overview of the introduction to Business and Economics. Economics is the subject of Social Science, which deals with the studying of production, distribution, and consumption of goods and services. The basics deal with how a society provides for its needs. In contrast, business is defined as the organization being engaged in commercial, industrial, or professional activities. 

Coming to the introduction to Business Economics, it is the field of economics that deals with the studies of financial, organizational, market-related, and environmental issues that corporations face. It covers the concepts of scarcity, product factors, distribution, and consumption. It concerns the primary application of microeconomic principles to decision making by the corporate.

                                            Tax Dispute and Import Duties

• Volkswagen’s $1.4 Billion Dispute:
  The Indian government has warned that dismissing Volkswagen's tax liability—amounting to $1.4 billion—could set a dangerous precedent. The dispute centers on allegations that the company misclassified imported components to lower its duty payments. This case, one of the largest in India’s history regarding import duties, is heading to the Mumbai High Court for a hearing scheduled on Monday.
  

                                              Trade and Export Policies

• Onion Export Duty Removal:
  In a significant move to balance the interests of farmers and consumers, India has decided to remove a 20% export duty on onions starting April 1. This policy change follows months of restrictions meant to secure adequate domestic supplies while keeping prices fair.
  

                                             Manufacturing Incentives

• Lapse of the $23 Billion Production-Linked Incentive (PLI) Scheme:
  The government has opted not to renew its ambitious $23 billion PLI scheme, originally aimed at boosting domestic manufacturing and competing with China. Despite participation from around 750 companies, including major players such as Foxconn and Reliance Industries, the scheme did not meet its production targets and was hampered by delays in subsidy disbursement. This has contributed to a slight decline in the manufacturing sector's share of the economy—from 15.4% to 14.3%.