Sitharaman, who was holding the Commerce portfolio (Independent charge), was on Sunday promoted to the Cabinet rank as was Goyal.
With the shifting of the Foreign Investment Promotion Board to the finance ministry, the government has now reconstituted the board appointing Finance Secretary S Narayan as its chairperson.\n\n\n\n
Singapore continued to be the largest source of FDI in India followed by Mauritius, the US, the Netherlands and Japan.
In a statement, the state government alleged 'malicious attempts' to discourage the use of products lacking a halal certificate not only seek 'unfair financial benefits' but also form part of a 'pre-planned strategy to sow class hatred, create divisions in society, and weaken the country' by "anti-national elements".
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
"We have close to about 175 press notes circulating... the Industry Ministry has taken a decision to put all of these together in a booklet so that the FDI rules become much simpler for a foreign investor."
The wholesale price-based inflation rose to an eight-month high of 1.48 per cent in October, as manufactured products turned costlier. The WPI inflation was 1.32 per cent in September and zero per cent in October last year. This is the highest level of wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.
The ban has been in force since last Friday.
Talks are also on with YES Bank for three other zones, in which the ministry hopes to attract private investment.
The output of eight core sectors grew 8.9 per cent in June, mainly due to a low base effect and uptick in production of natural gas, steel, coal and electricity, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 12.4 per cent in June 2020 due to the lockdown restrictions imposed to control the spread of coronavirus infections. In May this year, these key sectors had recorded a growth of 16.3 per cent, while it was 60.9 per cent in April.
India imported goods worth $4.23 billion in June from sanctions-hit Russia, up 6.8 times as compared to last year, as demand for shipments of crude oil grew at the fastest pace during the month. Crude oil worth $3.02 billion was imported in June, which translates into a share of 71 per cent of the total imports from Russia, commerce and industry ministry data showed. Similarly, during the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent on year.
It floated a strategy paper for this purpose where it had recommended certain specific areas such as skill development, focus on research and development and channelising incentives in a proper manner.
Coal, crude oil, natural gas, cement, and electricity recorded a negative growth of 8.6 per cent, 5.4 per cent , 3.9 per cent, 4.9 per cent and 2.9 per cent, respectively, in August.
In July 2011, the country had received foreign investment worth $1.10 billion.
The government is likely to extend interest subvention for some export-oriented sectors for another year to sustain the current growth in exports. This will be announced during the coming Union Budget for 2011-2012.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
India is now a biz friendly nations, say Arun Jaitley.
The wholesale price-based inflation shot up to an all-time high of 10.49 per cent in April, on rising prices of crude oil and manufactured items. Also, a low base of April last year contributed to the spike in inflation in April 2021. The WPI inflation was 7.39 per cent in March 2021, and (-) 1.57 per cent in April 2020. This is the fourth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
Says allow companies with up to 49% FDI to invest in restricted sectors.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Export oriented units have approached the finance ministry for abolishing "sunset clause" in the Income Tax Act to get tax exemptions beyond March 2009, so as to attract more investments and maintain their competitiveness globally.
Shell gets govt's nod to import petrol, diesel
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted. The record contraction in the growth rate of eight core sectors will affect the Index of Industrial Production.
The government on Tuesday announced incentives worth Rs 450-500 crore (Rs 4-5 bllion) for exporters encouraging them to aggressively market products in China and Japan and build on the recovery witnessed since November last year.
Candidates will be short-listed for interview on the basis of the information provided by them in their online application, the statement said.
The ED had arrested Chatterjee, who is also the Trinamool Congress secretary-general, on July 23 in connection with its investigation into alleged irregularities in the recruitment drives by the School Service Commission.
The commerce and industry ministry has fixed a tentative export target of $104 billion for the next fiscal, against a target of $92 billion for the current fiscal.
Will consider extending full support after reviewing the situation, says Sharma.
The government decision to permit 100 per cent foreign direct investment in medical devices will take effect from January 21, the Commerce and Industry Ministry said on Tuesday.
After rising in September, Foreign Direct Investment (FDI) inflows in the country dipped by about 40 per cent to $1.4 billion in October over the same period last year.
US-based coffee retail chain Starbucks on Friday said it was withdrawing its application to operate single-brand retail stores in India, thus delaying its entry into the country.
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