E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
A report details the campaign conducted by a China-linked threat activity group RedEcho targeting the Indian power sector.
The meeting with economists and financial experts has been called off due to pressing engagements of the finance minister.
Delhi woke up to the season's worst air quality as smoke from Diwali fireworks, coupled with moisture and nearly stagnant wind movement, shrouded the city in a thick cover of smog with respirable pollutants reaching perilous levels.
The minister said that the priority for him will be "rolling out all stuck highway projects that include many of the IL&FS projects within 100 days".
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Single-brand retailers are also allowed to take e-commerce route for such trading.
Many feel that the money from their MPLADS should go directly to a district hospital in their respective constituencies rather than a central fund like PM CARES. Archis Mohan reports.
'Some VIP or minister should come to the ward and see how people are suffering.' 'The pain and suffering of the relatives of the patients who are admitted; let them hear their desperate pleas for medicines and oxygen and ventilators and ICU beds; the cries of the kith and kin of doctors and nurses who are being eaten by the pandemic.'
The health ministry said that 86 per cent of the total active cases were recorded in 10 states of the country.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
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.
Several Union ministers and chief ministers voluntarily removed the red beacons from their vehicles even before the notification of it came into effect.
The government, in collaboration with the UN-body World Intellectual Property Organisation (WIPO), has commissioned a study to ascertain whether India's small and medium enterprises (SMEs) are prepared to adopt the global IPR regime.
The street-fighter attitude is what keeps Rane going even at 69. The expectation is -- at least in the BJP camp -- that he will be itching for a battle royale with the Shiv Sena in its bastions.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
The EAM on Thursday said the goof-up by Twitter in its location-tagging service that showed Jammu as part of Pakistan and J&K as being in China will be taken up with the site.
Ahead of India's annual budget presentation next week, IMF's chief economist Gita Gopinath has favoured the extension of the pandemic support measures, thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI on Tuesday. "And you want to revisit it and see how effectively that is working and see whether additional support may need to be provided," she said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual Union Budget on February 1. It would be a good time for banks and Non-Banking Financial Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said.
In the third reshuffle since coming to power, Prime Minister Modi raised the strength of his Council of Ministers from 73 to 76.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
India took the first step towards legalising drones by officially publishing draft rules for drone operations in the Official Gazette on Friday. The rules, termed The Unmanned Aircraft System Rules, 2020, are open for public consultation for 30 days.
If the country is to meet its jobs and income challenge, there has to be a parallel focus on jobs in the formal sector.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
The GST Council on Saturday is expected to extend the date for IGST exemption and cess on imports
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
The 65-year-old passed away at around 8 pm at the All India Institute of Medical Sciences trauma centre which has been converted into a dedicated COVID-19 facility, sources at the hospital said.
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
The prime minister is likely to talk about its possible extension.
Shaidalin Marbaniang's eco-friendly napkins solve three problems -- accessibility, sustainability and also generates employment.
The exporters are optimistic that the industry will grow by 8-10 per cent and it can improve further if the government helps the industry.
In eight major MSME-centric product groups, imports from China grew the fastest.
The task force, headed by Prime Minister Manmohan Singh's principal secretary TKA Nair, held its meeting on Monday, which was attended by senior officials of different ministries and public sector banks.
A cabinet note for setting up a fund, with initial corpus of Rs 1,000 crore (Rs 10 billion), to provide credit to businesses in the unorganised sector has been prepared, a senior government official said.
In an affidavit filed by Union finance ministry on behalf of the Union of India, it said that the relief to all borrowers in respect of compounding of interest during the period of moratorium would be admissible to the categories specified irrespective of whether the borrowers had availed the moratorium or not.
Finance Minster Pranab Mukherjee in his Budget Speech in Parliament on Friday proposed to increase the Plan outlay for the Ministry of New and Renewable Energy by 61% from Rs 620 crore in 2009-10 to Rs 1000 crore in 2010-11.
Here's some good news for those with innovative ideas. In an effort to support aspiring entrepreneurs, the government has launched an incubator scheme.
However, many of these firms were facing an uphill task of convincing the people on the ground to return to work, as many are apprehensive of their safety.
The government sees the total employment in village industries touching over 1 crore (10 million) by the end of current financial year from nearly 93 lakh in the previous fiscal.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
In the 2020-21 Budget, the prime minister and the finance minister are keen to stamp their narrative, after various rollbacks following the previous Budget, said top government sources. Besides the scheduled meetings, the sources said, the Prime Minister's Office is expected to hold several meetings with top secretaries and officials on various ongoing schemes, their performance and also how some of them could be tweaked for better results.
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