The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
He reaffirmed the government's commitment to resolving any outstanding issue in the way of growth and development of indigenous defence industries.
Indian economy has the resilience to sustain high growth despite shocks like spiralling oil prices, economic affairs secretary Rakesh Mohan said on Wednesday.
Modi has set a target of generating 100 Gw of solar power by 2022.
'If governance ensured we were poor during the socialist period, it now ensures that we do not get rich.'
For the 2009-10 fiscal, Pranab said, he expects the economy to grow by 7.2 per cent.
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
The delegation of Indian CEOs from Confederation of Indian Industry highlighted the growing sense of optimism in India following the recent election results.
Showing signs of recovery, industrial production grew at 4.7 per cent in May, the highest since October 2012, on account of improved performance of manufacturing, mining and power sectors and higher output of capital goods.
Government should focus on achieving 12 per cent growth in manufacturing if the GDP has to grow by 8-9 per cent or higher on a sustainable basis
The industry body said a strong inter-ministerial coordination group is required to resolve sticky issues like the 'mining conundrum' and 'raw material securitisation' for sectors like steel.
He underlined that Lok Sabha election results in India show that the Modi government kept alive and strengthened the 'expectation of change' in the country.
The JCB Prize for Literature is worth Rs 25 lakh.
Decades after he received a letter from someone by the last name of Biden from Mumbai, soon after becoming a senator, Biden learned that his 'great, great, great, great, great grandfather' had worked in the East India Company. "There are five Bidens in Mumbai, India," Biden, then Vice President, told a Washington audience in 2015 at an event organised by the Confederation of Indian Industry and Carnegie Endowment for International Peace on the occasion of the 10th anniversary of India-US civil nuclear deal.
The Indian vaccine industry largely feels there are two ways in which vaccine innovation can be spurred - one, get a high price for the product and two, have the government buy a few hundred million doses of the product at a certain price.
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.
'There is a clear business impact. People are avoiding crowded places and gatherings across cities. This is hitting business, both at traditional and modern trade outlets, during the Holi season, which kicked off from Saturday,' says Praveen Khandelwal, general secretary, Confederation of All India Traders (CAIT).
The industry also emphasised on supply-side interventions by the government to tackle persistently high food inflation.
An agreement to set up an Indian technology centre in Moscow to promote commercial use of Russian technology will be signed during Science and Technology Minister Kapil Sibal's visit beginning today.
Norms for e-commerce likely, arm's-length pricing set for change.
However, the government has enacted an important change to the fixed-term employment framework that may help companies in handing out contractual jobs to its existing permanent workforce.
While the national population explosion places nearly intolerable strains on India's physical and social infrastructure, the country's democracy is so dysfunctional that it is reasonable to ask whether it can rise to the looming economic and demographic challenges.
'Anyone can string together a few alliterative words, but are they a substitute for serious thought?' 'And do they make for a strategy or plan for coherent action?' asks T N Ninan.
'The government should put the whole road map together for the vaccine and decide how industry can support...' 'They should allow the private sector to vaccinate.'
This is Satya Nadella's third visit to India since he took over as Microsoft CEO in February 2014.
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
Around 75 per cent of total returns are expected to be e-filed in current year.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
Chamber urges government to present industry-friendly and pro-investment Budget
Foreign companies see a "lot of turnaround" in India and a "lot of positive attitude" is building towards it, says CII.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
New participants included Chinese players such as Great Wall Motors and Haima Automobile along with Olectra.
'There will be no serious effect on Indian economy because one person, one man, however powerful, however influential, however great, cannot have an impact on an economy as big and complex as India.'
The flexi staff workforce at present in the country has increased to 2.1 million from 1.7 million in 2015.
Efforts to normalise trading relations expected during the first such meet on Saturday
Several start-ups have raised concerns over taxation of angel funds under Section 56 of the Income Tax Act, which provides for taxation of funds received by an entity.
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.
New government should consider reforming taxation rules.
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