President Ram Nath Kovind addressed the nation on the eve of India's 75th Independence Day. Here's the text of what he said:
Prime Minister Narendra Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP last week. However, many of the measures unveiled have been in the form of moves like loan guarantees which do not entail an immediate fiscal cost.
Implementation of GST is expected to increase the gross domestic product of the country.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
Addressing a session at the Future Investment Initiative 2019 here, Modi said India offers a huge investment opportunity in the infrastructure sector also as he emphasised that the country aims to be a $ 5 trillion economy in the next five years.
The draft environment impact assessment (EIA) notification, 2020, which involves the procedure of issuing environmental clearances to various projects, was issued by the Environment Ministry in March this year and has received thousands of suggestions from the public.
'Businessmen are reluctant to invest because there is a fear that private investors are being targeted by various agencies.'
Stronger the pitch of various states, the better for India as a country. The two states plan to showcase their improved 'ease of doing business rankings'.
After the Reserve Bank of India restricted the Sri Guru Raghavendra Co-operative Bank from doing business with immediate effect and capped the withdrawal limit at Rs 35,000, depositors on Tuesday queued up outside the bank's branches in Bengaluru. The regulatory body said the bank will continue to undertake banking business with restrictions until its financial position improves.
The Union Budget has an opportunity to bring into practice the principles of maximum governance, minimum government and ease of doing business by objectively removing anomalies and dated government controls.
Obama said when he came into office America was going through the worst ever recession.
India ranks 130th out of 189 economies on the World Bank's Doing Business report.
'It may be a bit slow to start, but all are eager to get back into action.'
In the era of the fourth industrial revolution, mere tinkering with existing government procedures will not enhance India's economic competitiveness, says Pranjal Sharma.
Adapting to the new hybrid normal of remote and office work, cautiously optimistic corporate are looking to hire more people and provide better appraisals in the new year as they step out of the pandemic-ravaged 2020. The coronavirus pandemic emerged as the biggest inflection point for the Indian job landscape. For the corporates, work-from-home and remote workers became the new normal and for the professionals, online learning and digital skills took centrestage.
On a week long visit to push sales of the upcoming Trump Towers in the country, he said the "spirit" of doing business in India is much more aligned with the US way of doing business.
India is in favourable position to attract foreign firms planning to relocate their manufacturing bases due to trade tension between the US and China, says Nomura.
The plan is to start with 20-25 per cent capacity by early next month as part of Unlock 5.0, before moving to 50 and then 100 per cent.
Tamil Nadu has cornered around 18.63 per cent of the fresh investments in Q1FY21 and topped the list of state-wise investments. These investments should help create over 67,212 jobs.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
'The border has stayed the way it was for over 30 years, and they are now trying to change it'
In 2015, India was originally placed at 142nd position.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
Enactment of Insolvency and Bankruptcy Code has been instrumental in pushing up India's ranking in the 'Doing Business' report
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
The BCCI is open to reviewing its sponsorship policy for the next cycle but has no plans to end its association with current IPL title sponsor Vivo as the money coming in from the Chinese company is helping India's cause and not the other way round, Board treasurer Arun Dhumal said on Friday. Anti-China sentiments are running high in India following the border clash between the two countries at Galwan valley earlier this week. The first skirmish at the India-China border in more than four decades left at least 20 Indian soldiers dead.
The list in 2018 contained about 7,600 names. It has been reduced to under 3,800 in the past 18 months, according to Castellum.AI, a New York-based regulatory technology company. About 1,800 of the names have been removed since the beginning of March, according to data collected by Castellum.
The consortium will launch programmes in ease of doing business in their respective regions B-schools.
'The biggest advantage a company has in today's day and age is its reputation.' 'When something of this nature takes place, their reputation takes a beating.'
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
Going by the strict criteria set, only Maharashtra, Tamil Nadu, Gujarat, Karnataka, Uttar Pradesh, Andhra Pradesh, Madhya Pradesh, and Haryana qualify for such extra borrowing, as of now.
Survey calls for reorienting policies to promote young firms which have the potential to become big, rather than small MSME firms which remain small.
'If there is anyone who is a victim of vendetta politics, it is me.'
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
'The economy needed 3 or 4 major fixes. The major one was, of course, the direct tax structure, but we ended up complicating the existing convoluted tax structure,' says M R Venkatesh, chartered accountant and lawyer.
The NCLAT's order is offensive because it goes against every tenet of bankruptcy reorganisation. If Justice Sudhansu Mukhopadhyay's tenets are accepted by the Supreme Court, we will not only regress in modern bankruptcy reorganisation but also slide back in the Doing Business rankings, says Omkar Goswami.
The decision would help provide ease of doing business and also lead to larger FDI inflows contributing to growth of investment, income and employment.
He rued that people who work hard and honestly are put through enormous difficulties and Indians excel in making an ordinary task into an extraordinary one.
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
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