The Confederation of Indian Industry has revised its projection of the GDP growth this fiscal from 6.5 per cent to seven per cent.
The objective of Section 72A is to make business operations tax-neutral encourages the amalgamation and restructuring of a company or firms by allowing set-off or carrying forward of unabsorbed depreciation and accumulated business losses.
Communications and IT Minister Arun Shourie on Monday inaugurated the Confederation of Indian Industry's office in Malaysia, its 14th international office.\n\n\n\n
Industry associations Ficci and CII have been termed liable for service tax. Ficci has approached government for exemption from the levy.
The centre of excellence, a non-profit joint venture between tobacco-to-hotels major ITC and the Confederation of Indian Industry (CII), is working on a rating system for companies' corporate social responsibility (CSR) programmes. The first exercise of its kind in India, the idea is to incentivise CSR programmes to strengthen companies' ability to bargain for tax breaks and create a better image with consumers and stakeholders.
Confederation of Indian Industries said on Monday that the economy has shown clear signs of a turnaround over the last four quarters with sales
In its mid-year analysis presented in Parliament earlier this week, the Finance Ministry had said that there were concerns about overheating of the economy in the midst surge in capital flows.
Twenty-one sectors have done better than expected and recorded growth during the first nine months of 2001-02 in areas of production, sales and exports in the face of industrial recovery, according to a CII-ASCON survey.
Confederation of Indian Industry has sought higher banking exposure norms for lending to steel projects and infrastructure status to the steel industry, besides tax sops on par with special economic zones to boost the sector.
"To start with, we were clueless about the proportion of SCs/STs in the private sector. In last one year, we have increased the proportion but still have to arrive at the exact figures. So we cannot commit on what their proportion is," said JJ Irani, chairman, CII Council for Affirmative Action. The industry chamber had earlier said that the proportion of SCs/STs in private companies could be 15-20 per cent at the clerical level and 90-100 per cent at lower levels.
Will help in reviving the economy and push investment.
Anand Mahindra, vice chairman and managing director of Mahindra and Mahindra, took over as the president of the Confederation of Indian Industry on Tuesday.
By suggesting to Indian industry to put a lid on huge pay packets to top executives and show more responsibility to the poor, Prime Minister Manmohan Singh has offered the kind of penetrating and wide-ranging critique of capitalism.
Expressing shock and concern over the blasts in Mumbai and Srinagar, industry chambers on Wednesday said such incidents would not deter foreign investors from pumping their money in India.
Confederation of Indian Industry said on Friday sharp fluctuations in the stock markets notwithstanding, the long-term outlook of the Indian capital market is bullish.
It has suggested a provision for setting up land bank corporations to facilitate acquisition and disbursement of land for industrial use.
Olympic Gold Quest, an initiative to support talented Indian sportspersons in their quest for Olympic medals, signed a Memorandum of Understanding with the Confederation of Indian Industry, on Friday, to promote sports at the grassroots level through the involvement of corporates.
Confederation of Indian Industry (CII) in its Pre budget memorandum for Union Budget 2012-13 has asked the government to announce initiatives that can accelerate the pace of private investments.
"Foreign Direct Investment (FDI) will bring along backward integration and investment in farm to fork. States like Karnataka, Andhra Pradesh, Tamil Nadu will be able to move produce more efficiently across the country", Confederation of Indian Industry (Southern Region) Chairman T T Ashok said in a statement.
The chamber, however, made a strong case for providing stimulus to the economy in the upcoming budget with a view to increasing capital expenditure. To prop up the slowing down economy, the government came out with three stimulus packages in December, January and in the Interim Budget, providing incentives to various sectors and cutting certain indirect taxes across-the-board.
The Confederation of Indian Industry is organising 'Digital Maharashtra', an IT convention in Pune on November 29 to showcase the business climate and investment opportunities for the infotech industry in the state.
India's apex industry chamber Confederation of Indian Industry has landed itself in a controversy over the issue of its support to launching negotiations on trade and investment issues, opposed by developing countries.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
CII opposed some provisions, especially on the proposed move to the new definition of a subsidiary, and that a subsidiary cannot have another subsidiary, in the Companies Bill, saying that it will stunt growth in the corporate sector.
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CII hopes that the RBI would not wait for the next quarterly review but intervene sooner if the economic condition warrants a mid-course correction.
Information and Broadcasting Minister Ravi Shankar Prasad is leading a delegation to the Cannes Film Festival, where Bollywood star Aishwarya Rai's nomination on the jury has created an India focus in the Cannes market this year.
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