The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
'The Ruble is now down 50 per cent and worth less than one American penny since Putin announced his war'
The IAS officer was later taken into custody under the provisions of the Prevention of Money Laundering Act and is expected to be produced before a magistrate seeking his remand, the sources said.
Delhi's appeasement strategy may now translate as more mega arms deals with the US, generating substantial business and job creation in the American economy. Make no mistake, Americans will use it to pressure India, predicts Ambassador M K Bhadrakumar.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
Alamgir Alam had distanced himself from the activities of Lal while speaking to reporters after the ED raids, pointing out that he had earlier served with other ministers of the state government too.
'...We should first look at and acknowledge what we have done to ourselves.' 'To not do so opens us to the accusation of rank hypocrisy and also reduces the stature of our globetrotting peaceniks,' asserts Aakar Patel.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
Tarun Bajaj, an old hand at the finance ministry, on Friday assumed charge as the economic affairs secretary. He comes back to North Block at a time when the economy is facing headwinds due to the outbreak of Covid-19 pandemic.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Salim-Javed became the first Hindi film writers who could be considered brands, and they are still boldface names, celebrities in their own right, chronicles Dinesh Raheja.
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
The compulsion behind India and Japan to deepen security cooperation is in response to China's growing political and economic clout and its assertive behaviour in disputed areas. This has been the key driver for bringing both India and Japan closer in the domain of security cooperation, explains Dr Rajaram Panda.
Ahead of the assembly polls in Rajasthan, the Congress government on Saturday night issued an order for the conduct of a caste survey in the state.
The supplementary demands for grants include a gross additional spending of over Rs 2 lakh crore, which would be matched by savings of over Rs 1.21 lakh crore.
With the fate of the Development Enterprise and Services Hub (DESH) Bill in limbo, the commerce department is working towards tweaking some rules under the existing special economic zone (SEZ) law to allow use of unutilised spaces in IT/ITES for non-SEZ purposes. The move, when implemented, will free-up the land area that is not in demand through partial de-notification of certain floors or buildings, thereby allowing easier exit. "The department of commerce is discussing the matter with the revenue department before making changes in the Special Economic Zone Act, 2005," a person aware of the matter
The US needs to understand that it could potentially lose out on attracting several Netravalkars in the future if it curbs the influx of such industrious Indian immigrants, argues Vishal Menon.
In the first phase of the Lok Sabha polls, there were 135 women candidates while in the second phase, there were 100 women candidates, bringing the combined total for the first two phases to 235 women candidates.
The Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
In a path-breaking decision with far-reaching socio-economic impact, the Centre has allowed woman employees to nominate her son or daughter for family pension, instead of her husband, according to an official statement issued on Monday.
In a path-breaking decision with far-reaching socio-economic impact, the Centre has allowed woman employees to nominate her son or daughter for family pension, instead of her husband, according to an official statement issued on Monday. Previously, family pension was granted to the spouse of a deceased government servant or pensioner, while other family members became eligible only after the spouse's ineligibility or demise, the statement said. Union Minister of State for Personnel Jitendra Singh said that the Department of Pensions and Pensioners' Welfare (DoPPW) has introduced an amendment to the Central Civil Services (Pension) Rules, 2021, allowing female government employees or pensioners to grant family pension to their eligible child/children after their own demise, in place of of their spouse.
Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum. "Strong services expansion and capital expenditures propelled India's 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. "We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent," Moody's said in its Global Macro Outlook. - el nino
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
An upbeat Delhi Capitals will look to keep the winning momentum going against an inconsistent Mumbai Indians when the two sides square off in the IPL in New Delhi on Saturday.
To take the 'Idea to Enterprise' journey, you need to be open about your idea and articulate it to potential customers, existing entrepreneurs, experts in your industry and well-wishers.
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.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
'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.'
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
'There shall be no change in India-Japan ties,' predicts Rajaram Panda.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
This whirlwind of activity only confirms that rushing around creating an impression of pompous busy-ness is not the same thing as solving problems, argues Mitali Saran.
The Agency said it has delivered the required certification notifying Congress of this possible sale on Thursday.
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