The Centre is looking to convene a meeting of the all-powerful Goods and Service Tax Council in early January. The meeting is likely to focus on rectifying the inverted duty structure for a few more items and will also serve as a platform for pre-Budget discussions between Union Finance Minister Nirmala Sitharaman and state finance ministers, Business Standard has learnt. "The current Winter Session of Parliament ends on December 23, followed by the Christmas-New Year period. "After that we would like to have a meeting of the GST Council, depending on whether there can be a quorum," a top government official said.
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
Efforts to normalise trading relations expected during the first such meet on Saturday
A combination of externalities such as global trade wars and slowing growth, continuing glitches in accessing offsets under the GST regime, which has created a liquidity crunch for smaller exporters, and the growing competitiveness of smaller countries are causing the slowdown.
In a bid to curb harassment of taxpayers, Sitharaman said, a faceless e-assessment scheme was launched in October to eliminate interface between an assessing officer and a taxpayer.
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Leading businessmen from India and Pakistan on Monday called for closer commercial ties between the two countries and said commerce could well turn out to the harbinger of peace in the Subcontinent.
The youth have to turn into entrepreneurs if India's massive demographic dividend is to be taken advantage of: Smriti Irani.
In order to be competitive, the companies should now add value to their services and innovate ways to become efficient. With the continuing onslaught of the global financial crisis, companies are turning to large-scale lay-offs to cut cost and tide over the crisis.
In a sectoral analysis of exports, the Confederation of Indian Industries said India needs to become among the top three exporters in the world in four sectors -- textile, leather, gems and jewellery and engineering. It said exports to new markets of Latin America and Caribbean and Africa should be given a push for achieving the $500 billion by 2013.
A team of more than 60 people under Neeraj Mittal, an IAS officer, was instrumental in getting up the New Industrial Policy 2021 targeting investments of around Rs 10 trillion by 2025.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
A delayed monsoon and abundant cotton in the international market could spell trouble in the state's suicide zone.
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
In 50 days, 60% of the work force was let off in retail, agri, textile and other sectors.
This is South Carolina's first trade and investment mission to India.
'India's future: To manufacture so efficiently that we do not need protection,' says Naushad Forbes.
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
Over a year after the deadline to grant Most Favoured Nation (MFN) trading status to India, the Pakistani government on Thursday declined to specify any time limit to meet the long-pending demand from here.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
The board would take a decision on these applications on February 20.
Women from promoter families who have become directors since January this year include Sarala Birla (Century Textiles, Century Enka), Nawaz Gautam Singhania (Raymond Group), Bina Modi (Godfrey Phillips), Saroj Bhartia (Jindal Drilling & Industries) and Deepshikha Khaitan (Cera Sanitaryware).
Recent appreciation has not deterred companies like electric goods maker Havells to set up plant in India.
New foreign trade policy to stress manufacturing exports.
The compulsions of domestic politics notwithstanding, India and Bangladesh script a new story in bilateral relations, say Nayanima Basu and Aditi Phadnis
With facts and figures, the CAG report has highlighted how Gujarat was far from a role model for states across India, and that the progress made in this province in western India in improving agriculture, education, healthcare and empowerment of women and children, was not exactly creditable, says Paranjoy Guha Thakurta.
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