Rs 1,400 crore provided in the stimulus package was due under TUFS anyway.
Recession-hit retailers in the US and Europe are increasing their purchases from Bangladesh as it is able to supply garments at a relatively less price due to low labour cost and better economies of scale, experts said. Data collected by the Apparel Export Promotion Council, the body for the promotion and facilitation of garment-manufacturing and their exports, show Bangladesh overtook India after August 2008.
The industry, which has complained of widespread job losses along with a sharp decline of about 30 per cent in its expected export target for the current fiscal, wants a quick action from the government. Industry sources say that even if the government releases the funds, the banks would take another month to disburse them.
The draft Companies Bill 2008 has identified the three key managerial positions as chief executive officer, chief finance officer and company secretary. By recognising these three key managerial positions, the Bill is fixing responsibility to bring out a system which is more accountable, transparent and workable, according to an official at the Ministry of Corporate Affairs.
A limit on compensation paid to top executives is preferable in the context of what has happened in developed nations, Minister of Corporate Affairs Premchand Gupta told Business Standard.
This comes in the background of claims by the Confederation of Indian Textile Industry, an industry body, that about 700,000 jobs have been cut in the last six months. The industry lobby group has also forecast a further loss of half a million jobs in the next five months.
The govt is not keen to fill the vacancies as it will be replaced by the CCI. Officials say the government is not keen to fill the vacancies as the body will be replaced by the CCI. However, even after CCI is notified, the MRTPC will function for two more years to clear the cases it is hanling at present. The MRTPC is still taking fresh cases.
Under the scheme for integrated textile parks, the government provides up to 40 per cent of the cost of setting up a textile park with a ceiling of Rs 40 crore (Rs 400 million). Till now the ministry has contributed Rs 450 crore (Rs 4.5 billion). The industry has pitched in with nearly double this amount.
The central government is likely to announce a restructuring-cum-revival package for Hindustan Shipyard Ltd (HSL), the largest public sector shipyard, at a cost of around Rs 830 crore (Rs 8.3 billion) in the coming Budget.
Mumbai rail service may get a facelift as the Union Railway Minister Lalu Prasad Yadav announces the Phase II of developmental plans this Budget.
Russian Prime Minister Victor Zubkov, who arrives in New Delhi on February 12, is leading a delegation of over 150 CEOs
The commerce ministry has endorsed India Inc's stand against signing a free trade agreement (FTA) with China until it becomes a market economy that follows transparent pricing of manufactured goods and services.
The power regulator's office may have been functioning "normally" without a chairperson for almost a year, but industry executives see this as the Central government's lack of seriousness towards the body and the power sector.
Central ministries as a whole are expected to get an increase of only 15 per cent in gross budgetary support for 2008-09, much lower than the 62 per cent increase they had demanded.
With anti-competitive practices of global pharma companies increasingly coming under regulatory scrutiny internationally, Indian public interest groups and the domestic medicine makers complain that India's competitive laws are not equipped to face a similar situation of monopoly in the sales of patent protected medicines in the country.
Not only is Chinese equipment being deployed by quite a few power companies in the country, Chinese manpower is also employed in large numbers in the country.
In a bid to assuage corporate India's fears over key aspects of the Competition Act, 2007, the Competition Commission of India has decided to ensure that 90 per cent merger and acquisition proposals put up for its approval are cleared within 60 days. The present timeline is 210 days.
When Internet search major Google Inc decided to power its 'Googleplex' in Mountain View with one of the largest solar panel installations in the world last year, it was a big vote for solar energy, which presently provides less than 1 per cent of the energy generated worldwide.
Clean development mechanism (CDM) should be used to make the prices affordable for the poor.
The main "culprit" for CO2 emissions is coal-based energy which has 24 per cent share in India's emissions and 41 per cent worldwide. While coal accounts for 25 per cent of energy, the role of renewables is 13 per cent. Of these, wind, solar and bio masses contribute just 4.1 per cent.
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