The Prime Ministry's Economic Advisory Council Chairman also said fiscal deficit is a concern too and suggested raising domestic oil prices to restrict it to the budget target of 4.8 per cent of the gross domestic product in this fiscal.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
Once touted as a 'wonder drug', HCQ has been battling global controversies around its safety and efficacy as a prophylactic against the new coronavirus SARS-CoV-2.
Sectors throw up a wishlist for the Finance Minister.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
'The manufacturing sector and the capital goods industry need all the support that the government can provide, because they are working in a global market where trade restrictions are coming down every day,' says Amar Kaul.
The results of the assembly elections in Gujarat and Himachal Pradesh are likely to play out during the winter session of Parliament beginning Wednesday.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
So, how does Pompeo's check list look like? In a broad sense, he is coming here 'to make sure that we have economic openness'; to ensure that 'we have to deliver'; to understand that 'we have to execute' what we promised to do; and, to 'broach some tough topics', points out Ambassador M K Bhadrakumar.
Surat houses more than 650,000 powerlooms. Of this, at least 60 per cent have been shut since a month, a loss of Rs 900 crore, finds out Vinay Umarji.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
The Swadeshi Jagaran Manch has pointed out that these firms pose a threat to domestic manufacturing and retailing as they do not pay relevant taxes such as GST, giving them a huge edge over local players.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
'Our automakers export 50 per cent of what they manufacture and once the policy comes into play, which is in the next 2-3 years, we would become a Rs 10 trillion industry.'
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
'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.
China, the Ukraine crisis and Quad will dominate the discussions, observes Dr Rajaram Panda.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
In a powerful signal to New Delhi that the United States is a reliable defense partner, Senators Mark Warner and John Cornyn introduced US-India Defense Technology and Partnership Act in Senate
'When an enemy country is looking for information to sabotage a system from a remote location, they can access your data, they can stop the functioning of our power plants, they can stop the functioning of critical systems in the network.' 'It is very important that we should have full control of everything in the network.' 'Most Indian companies buy from China only because of the kind of incentive they are getting.' 'By doing so, these Indian companies are exposing themselves to dangers in the coming years.'
Sharif raises Kashmir issue at UNGA, renews plebiscite demand.
Here is the full text of the joint statement issued by India and the US.
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Prime Minister's key economic advisor C Rangarajan on Friday lowered the growth forecast for the current fiscal to 5.3 per cent from 6.4 per cent projected earlier and listed out host of measures, including further liberalisation of FDI norms to improve economic condition.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
As India holds its breath for the Covid vaccination to be begin, Sudhir Bisht provides a quick checklist of what you must know about the vaccines that will be administered to citizens.
India's IPR framework and enforcement were comparable to those in developed countries
'A broad-based revival of private sector investment was likely in 2018-19 after businesses had successfully made the switch to the GST.'
Instead of the Hindustan Turbo Trainer-40, which Hindustan Aeronautics Ltd could build, export, overhaul, upgrade and even modify into a light-attack aircraft, powerful lobbies have promoted a Swiss trainer -- the Pilatus PC-7 Mark II.
Commerce and Industry Minister Suresh Prabhu is slated to meet senior executives of Apple on the sidelines of the World Economic Forum in Davos later this month.
India and Russia on Thursday decided to expand cooperation in various sectors as they signed 16 pacts, including on joint manufacture of 226 military helicopters.
Boosting trade and simplifying visa regime, apart from security and defence cooperation, were among the key bilateral issues. The two leaders also discussed regional and international matters of mutual interest.
'Only when China treats India as an equal can we consider them real friends.'
Modi also made a call for European Union unity and said India would play a positive role in enhancing that through Germany.
Senator John Cornyn, founder and Republican co-chair of the Senate India Caucus, strongly defends his vote against a resolution to block sale of American-made F-16s to Pakistan.
The strategic pacts were inked after the summit between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe during which they also discussed international and regional issues of mutual importance including UN security reforms.
Special Economic Zones are likely to be central to realising Prime Minister Narendra Modi's ambitious Make in India agenda.
United States Secretary of State John Kerry, heading a high-powered delegation of his cabinet colleagues and top military commanders, today left for India as part of his 10-day seven nation Asia trip.
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