The country's trade deficit widened yet again, to $9.7 billion (Rs 43,500 crore) in October, compared to $9.12 billion in the earlier month. Also, after a span of three to four years, merchandise exports have surpassed the growth rate of imports in the same month.
Imports for October stood at $27.7 billion, widening the trade gap to $9.7 billion.
Senior officials from different ministries, including finance, home affairs and defence, would be attending the meeting. The last BOA held on August 11 had allowed Maytas Ventures, promoted by the disgraced former Satyam chairman B Ramalinga Raju's son, to surrender its biotech SEZ and approved three new proposals, including that of Brooke Bond Real Estates IT/ITES tax-free enclave in Karnataka.
Mahindra Satyam has approached the Commerce Ministry for more time to develop the three IT Special Economic Zones in Andhra Pradesh as it has decided to go slow on its expansion plans due to the slowdown.
Imports, too, jumped by 32.2 per cent year-on-year to $29.67 billion in August, according to the government data released in New Delhi on Friday.
Vice-President Hamid Ansari embarks on an important Latin American visit, heralding that resource-rich continent's importance to India.
"The 46th meeting of the BoA on SEZs to consider proposals for setting up of SEZs and other miscellaneous requests is scheduled to be held on May 31," it said.
The study has been conducted by Ernst & Young on behalf of EEPC-India, the apex body of engineering goods exporters.
Owning property in Gurgaon is set to become more expensive with the Gurgaon Municipal Corporation planning to impose property tax.
India's exports grew by an annualised 34.4 per cent to $ 23.9 billion in April maintaining a tempo of the last financial year despite a decline as compared to 44 per cent growth in March.
Gopal Krishna Pillai, senior Indian Administrative Service officer of the 1972 batch, is going to be the next Union Home Secretary. Pillai, who is serving as the Union Commerce Secretary, will take over from current Union Home Secretary Madhukar Gupta in mid-June. Gupta is slated to be appointed as the governor of Tripura.
While no reason has been given for postponement of the BoA meeting, commerce secretary Rahul Khullar is indisposed, an official said.
The country's exports, which came under severe pressure due to the global slowdown after October 2008, had aggregated a shade lower than $13 billion in January 2009.
The Union government on Friday said it intended to lift the ban on export of cotton, imposed last month in the wake of a steel rise in prices, from October 1.
India's exports remained robust, as overseas shipments expanded by 35.1 per cent to $16.1 billion in May on the back of improving demand in western markets.
India's imports surged by a never-seen-before $8 billion in April, indicating the rapid pace of domestic economic activity, even as the government downplayed the 36.2 per cent jump in exports.
India's exports turned around in November after falling for 13 straight months, posting a growth of 18 per cent to touch $13.2 billion, but the expansion was attributed to base effect.
Batting for exporters hit hard by global downturn, Commerce and Industry Minister Anand Sharma on Monday met Finance Minister Pranab Mukherjee and made out a strong case for fiscal relief for the export sector in the Budget next month.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
India's exports have declined by 13.8 per cent to $13.6 billion in September, says Commerce Secretary Rahul Khullar.
Senior officials from G-12, including the US, EU, India and China, stepped up efforts to keep the Doha trade negotiations on rails by placating Brazil, Argentina and South Africa, which have specific concerns with trade in industrial goods. Brazil's chief trade negotiator Roberto Azevedo threatened to leave the negotiations if the special flexibilities for the four MERCOSUR Customs Union members -- Brazil, Argentina, Paraguay and Uruguay -- are not conceded.
In April-August this fiscal, the overseas shipment contracted by 31.3 per cent to $63.9 billion from $93.1 billion in the same period last year. For the first five month of 2009-10, three sectors -- rice, tobacco and fruits and vegetables --have shown positive growth, commerce secretary Rahul Khullar said.
About 11 entities may be charged in the first charge sheet in the case, the sources said without elaborating on the issue.
In the absence of progress on services negotiations in the WTO, India is sending a team of officials to Europe to strike a deal in the services area with the EU under the Bilateral Trade and Investment Agreement.
Sushil Kumar made a glorious return to the international arena by clinching a gold medal at the Commonwealth Wrestling Championships in Johannesburg, South Africa on Sunday.
VoIP services include communications applications such as Skype, Line and Viber
The government on Thursday launched a Grievances Redress Cell for exporters and importers in a bid to improve the of the directorate general of foreign trade.
The new body may be headed by the Prime Minister as the chairman position would be ex-officio.
The cross-examination of Akbar by Ramani's counsel remained inconclusive and would resume on on July 6.
The agenda is to give a concrete shape to a Development Bank and pitch for reforms of the UN Security Council.
The transfers were effected keeping in mind the demands of ministers, an official said, adding the conflict between them was resulting in inefficiency of work.
All members of the Planning Commission have submitted their resignations to the Prime Minister's Office paying the way for reconstitution of the institution.
No one expects the government to publicly concede policy mistakes. But it can shed denial; and, stop the point-winning debating style to the formulation of public policy, says Rahul Khullar.
That may have reduced clutter, but it would also have reduced choice.
We should brace ourselves for more bad news in the coming quarters -- on economic output and growth, strains on the fiscal deficit, export slowdown, small and micro enterprises in distress, and further accumulation of NPAs in the banking sector, says Rahul Khullar.
It is likely to have a similar tax efficient pass through status, for PPP and other infrastructure projects.
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
Make in India right now is just a slogan. The policy content is missing or not clearly articulated. The lion with cogs and wheels must now show some majestic movement forward, says Rahul Khullar.
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
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