India Inc's initiative to adopt Industrial Training Institutes (ITIs) across the country is facing problems because of low level of cooperation on the field as well as red-tapism, industry lobby groups have claimed.
Ficci: Rationalise tax structure; CII: Space for fiscal incentives is limited.
A higher cumulative penalty will be levied for not sharing data, say officials. However, criminal charges will be pressed in cases where manipulation of data is involved, they say. Under the new Act, people or companies not divulging data would have to pay a fine of Rs 1,000 and they would be given a 14 day notice period to comply. If the information is not provided even after two weeks, the penalty will rise to Rs 5,000 per day.
The Model Code of Conduct for the ongoing Lok Sabha elections has come in the way of release of routine economic data like the consumer price indices.
To counter demand contraction in key markets like the US and Europe, Indian textile exporters are exploring alternative markets like Japan, South Africa and Latin America. At present, only 4 per cent of India's textile exports go to these markets.
With companies ready to slash ad budgets, PR could be the beneficiary. Executives in leading firms say clouds of worries have appeared on the horizon, though there is no immediate loss of business.
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