A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
Financial details of the project, awarded by the department of industrial policy and promotion, were not disclosed. The eBiz Project announced on Tuesday is among the 27 central, state and integrated mission mode projects under the National e-Governance Plan of the Department of Information Technology. Under it, Infosys will also do training, workshops, promotion and awareness campaigns.
According to initial estimates available with the commerce ministry, these sectors, which constitute a third of India's export basket, have posted a dip of 18-54 per cent in December 2008. Exporters claim they do not have orders beyond January 2009, adding that the situation could lead to 10 million job losses if things did not improve.
With pricing power of producers unlikely to strengthen and commodities ex-crude oil likely to remain sluggish in the immediate term, the core-WPI inflation may remain sub-zero in the rest of this calendar year.
Commerce ministry suggests easy conditions for availing capital gains tax exemptions
In a pre-budget meeting with revenue secretary P V Bhide, a Ficci delegation asked the finance ministry to tread with caution on rolling back the stimulus measures taken to spur growth.
The Board of approval had given more time for Raheja's to develop their project in the state. The project is one amongst the three SEZs recommended to be denotified by the state government. Goa's Rajya Sabha member Shantaram Naik said he would meet new Union Commerce ministry Anand Sharma and brief him on the issue.
The Mumbai SEZ had sought the stay on the grounds that if the acquisition is not completed by June 8, the entire process will lapse under the Land Acquisition Act, 1894.
Developers will now be able to get their land classified as an SEZ at the initial stage of approval by submitting legal documents that prove land ownership. With exports falling sharply in the last six months, faster development of SEZs is seen as one way of increasing overseas sales of Indian goods and services, an official said.
Narendra Modi's victory does not represent a victory of 'the Indian nation', but only an elite-driven polarising phenomenon. The sooner we -- and the BJP -- recognise this, the better, says Praful Bidwai.
Exports from special economic zones (SEZs) are likely to touch Rs 2 lakh crore in 2009-10, a 100 per cent jump from the year-ago period, with Reliance Industries' Jamnagar special economic zone expected to contribute the most to the kitty.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
Centre could experiment in setting up education parks in the country like in IT sector and workout to provide special incentives to those setting up the parks, National Knowledge Commission chairman Sam G Pitroda said. He said government could experiment in establishing education parks so that it can work out strategies to enhance quality of education.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
Watal a 1978-batch Andhra Pradesh cadre IAS officer.
The Centre, in a stimulus package on December 7, provided an interest subvention of two per cent up to March 2009 for pre and post-shipment export credit for labour-intensive exports (textiles, leather, marine products) and SME sector.
The Directorate General of Foreign trade on Friday issued an order banning toy imports from China, which is India's biggest trade partner, for six months. The notification, however, gave no reason for the ban.
The prime minister is likely to talk about its possible extension.
The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 5.7 per cent in January 2016.
Prime Minister Manmohan Singh on Tuesday held discussions with Commerce and Industry Minister Kamal Nath and is believed to have reviewed the Satyam issue, a day after the minister came out in support of extending financial help to the beleaguered IT firm.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
In a major reform push, government on Thursday approved 100 per cent foreign direct investment (FDI) in the telecom sector, meeting a key demand of the fund-starved industry.
The finance ministry on Wednesday ruled out more than 26 per cent foreign direct investment in pension sector and said fund managers would be selected through a competitive bidding process.
In dollar terms, exports declined by 33.3 per cent over March 2008, the largest monthly decline yet. For the year as a whole, exports came in at $168.7 billion, significantly short of the original target of $200 billion and also below the revised range of $170-175 billion.
The other sectors where inflows have declined include pharmaceuticals ( $680 million).
The country's largest real estate player, DLF, on Friday said it has approached the government for surrendering four of its IT-ITeS notified special economic zones (SEZ).
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.
By May this year, awards in highways projects will swell to Rs 2 lakh crore from Rs 1.6 lakh crore now
From a balance of payments perspective, however, the continuing decline in exports is not particularly threatening, because imports have been declining even faster than exports.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
