Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
In a double-dose bid to boost growth and employment prospects, the Union Cabinet on Tuesday approved a Rs 2.07 trillion outlay for a research development and innovation (RDI) Scheme to fund private sector innovations, and an employment-linked incentive (ELI) to create over 35 million new jobs over the next two years.
The Confederation of Indian Industry on Thursday elected Sunil Kant Munjal and Y C Deveshwar as the president and vice president, respectively, for 2004-05.
India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period, as per the National Statistical Office (NSO) data released on Thursday. India remains the fastest-growing major economy as China's GDP growth in the April-June quarter was 6.3 per cent.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Officials said several witnesses were heard on the impact of the pandemic. They added that this was the longest meeting of the panel without a break so far.
Bangalore-born Bhattacharyya, an alumnus of Indian Institute of Technology (IIT) Kharagpur, was awarded the Padma Bhushan in 2002 for his services to science and technology and made a life peer in the UK's House of Lords in 2004.
A green building movement was initiated in India in 2001 by the Indian Green Building Council (IGBC), a part of Confederation of Indian Industry (CII) to promote eco friendly buildings.
ICICI bank CEO and CII president K V Kamath told the media on the eve of the two-day national council in Hyderabad that 'skilling' was the key area and big challenge for the country.
The founding members of The E-Commerce Council of India include Snapdeal, ShopClues, UrbanClap, Shop101, Flyrobe and Fynd, among others.
While the Narendra Modi government has stuck to its stand that pending payment is Rs 12,343 crore, MSMEs calim outstanding amount is Rs 2-3 trillion. Moreover, MSME ministry's SAMADHAN portal has been of little help.
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Tamil Nadu has cornered around 18.63 per cent of the fresh investments in Q1FY21 and topped the list of state-wise investments. These investments should help create over 67,212 jobs.
Introduction of GST would make Indian products competitive in the domestic and international markets.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
Sectors throw up a wishlist for the Finance Minister.
I still believe that it is a good thing that think tanks are mushrooming in Delhi. They provide a platform for discussion, even if they shed more heat than light. With Parliament almost incapable of serious debate, informed discussion and civilised discourse, where does this nation get its intellectual churn, asks Mohan Guruswamy.
'I am glad to announce that these cities are now going to become green smart cities.'
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
Amazon committed a fresh investment of $3 billion, in addition to the $2 billion it announced in 2014.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
Prime Minister Narendra Modi said India and the United Kingdom are economically made for each other.
The UK has responded to PM Modi's call to 'Make in India' by launching great collaborations in January 2015.
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