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.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
The finance ministry has tightened the noose around developers of special economic zones by disallowing tax concessions to their contractors involved in the construction work.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Reflecting lack of enthusiasm about the SEZs, 20 more promoters have sought additional time from the government for implementing their projects, taking the number of developers seeking extension to over 200.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny. "Companies are closely watching this space.
China's population in 2022 -- 1.4118 billion -- fell by 850,000 from 2021, the National Bureau of Statistics (NBS) said.
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
India-born Suma Chakrabarti will succeed Germany's Thomas Mirow as the President of the European Bank for Reconstruction and Development (EBRD), which has been supporting economic transition in former Eastern Bloc countries and Soviet republics for the last two decades.
Apart from the human body, human food will bear direct repercussions. From staples such as wheat, to coffee, dairy, and even the great Hilsa face the threat of reduced supply due to the extreme heat.
India ranked 111th out of 125 countries in the Global Hunger Index-2023, which was rejected by the government as erroneous and having malafide intent. The index, released on Thursday, also stated that India has the highest child wasting rate in the world at 18.7 per cent, reflecting acute undernutrition. India ranked 107th out of 121 countries in the 2022 edition of the Global Hunger Index (GHI), a tool for comprehensively measuring and tracking hunger at global, regional, and national levels.
The centres will be set up under a pilot project on PPP (public-private partnership) mode across the country, principal advisor (skill development mission) of Planning Commission Jayati Chandra said, adding that these are expected to come up by the middle of the year.
The new scheme may be announced before the Lok Sabha elections.
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
India on Friday said that a second bridge being constructed by China on Pangong lake is in an area that has been under illegal occupation of that country since 1960.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
Reddy, who moved from urban development to the oil ministry, got down to tackling the task straightaway with a brainstorming session with senior ministry officials on Thursday.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
India and the US have signed an agreement to promote innovation through increasing cooperation among startups, address regulatory hurdles and share best practices on fundraising by entrepreneurs, an official statement said on Wednesday. The memorandum of understanding (MoU) on enhancing innovation ecosystems through an innovation handshake under the framework of India-US Commercial Dialogue was signed on November 14 in San Francisco. Commerce and Industry Minister Piyush Goyal is in San Francisco.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The appointment, expected shortly, will come in the backdrop of tax expert Parthasarathy Shome recently resigning from the post of adviser to Finance Minister P Chidambaram.
Asian Development Bank to give $300 milion loan to India.
Under the National Apprenticeship Promotion Scheme, close to 1 million apprentices will be trained in FY24.
Foreign direct investment (FDI) in India has increased by 16 per cent year-on-year to $27.1 billion during April-August this year, the Commerce and Industry Ministry said on Tuesday. During April-August last year, India had received FDI worth $23.35 billion. The ministry said that the total FDI, which includes reinvested earnings, grew by 13 per cent to $35.73 billion.
Cabinet nod not required after commerce ministry approval.
The Cabinet can take a decision on the matter only after the Election Commission's approval.
'When manufacturing or even services cannot generate the kind of employment they are looking for, they prefer to be unemployed rather than under-employed.'
Stating that providing reservation was no solution to development concerns of Muslims, Najma Heptulla, who took charge as Minister for Minority Affairs, said the new government will ensure progress of all communities, with special stress on education facilities for minorities.
This is reportedly the first time that the names recommended by a search committee have been shot down by the HRD ministry
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The government considering creation of a an Airport Economic Regulatory Authority to ensure a level playing field for all airport developers in the country, according to Ministry of civil aviation joint secretary K N Srivastav.
