"We are open for further reduction in prime lending rate," Indian Banks Association Chairman Dalbir Singh said in New Delhi while addressing a seminar organised by PHD Chamber of Commerce.
....a long-term boundary agreement is reached between the two countries.
The Centre is looking to convene a meeting of the all-powerful Goods and Service Tax Council in early January. The meeting is likely to focus on rectifying the inverted duty structure for a few more items and will also serve as a platform for pre-Budget discussions between Union Finance Minister Nirmala Sitharaman and state finance ministers, Business Standard has learnt. "The current Winter Session of Parliament ends on December 23, followed by the Christmas-New Year period. "After that we would like to have a meeting of the GST Council, depending on whether there can be a quorum," a top government official said.
The BJP's effort comes in the wake of Commerce and Industry Minister Piyush Goyal set to attend the eighth RCEP ministerial meeting in Bangkok from October 10 to 12.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
Drug Controller General G N Singh said the regulator is addressing all the pending issues to liberate the pharma sector and to simplify export regulations which will be reflected in the forthcoming policy.
'We need to encourage the next generation of farmers to continue in farming'
Passenger fares and freight rates were left untouched
Bilateral trade between India and Japan stood at $16.31 billion by the end of fiscal 2013-14.
India Inc on said the Seventh Pay Commission set up today for central government employees is likely to lead to additional burden on the exchequer and increase inflation by pushing demand.
Aam Aadmi Party swept the Delhi polls with 67 seats.
Government wants to increase coal production so that it can meet the ever increasing coal demand.
'His death is an irreparable loss to the nation'.
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Narrowing of the current account deficit will help arrest depreciation of the rupee and ease inflation concerns, industry groups said.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
It would pave the way for Jammu and Kashmir to attract large-scale investments, the industry leaders said.
India Inc on Thursday rallied behind the Army's move to conduct surgical strikes on terror launch pads across the Line of Control and said it was the time to act tough while ruling out any negative impact on the country's economy and trade.
The Cabinet on Thursday approved 49 per cent foreign investment in insurance companies through the Foreign Investment Promotion Board route ensuring management control in the hands of Indian promoters.
"It (JK) is not a political issue as far as I can see. They have been barking up the wrong tree for the last 50 or 70 years by talking about the politics of it, that the political situation has never improved. We seriously need to look at in terms of how it is a society that is in search for itself," Drabu had said at an event organised by the PHD Chamber of Commerce and Industry in New Delhi on Friday.
Terming the rise in October retail inflation despite a bumper crop as "disturbing", India Inc said the government must immediately address supply side bottlenecks to bring down the consumer price inflation.
Amid India slipping to 134th spot in the ease of doing business ranking of 189 nations, Planning Commission member Arun Maira on Tuesday said "merely making comparisons" is not enough to improve business conditions.
The UK voted to leave the European Union after 43 years.
The industry also emphasised on supply-side interventions by the government to tackle persistently high food inflation.
Congratulating Narendra Modi on becoming the Prime Minister, India Inc on Monday said it is looking forward to an era of renewed trust and expressed confidence that the nation will leapfrog into a higher orbit of growth creating more jobs, income and social stability.
Reversal in the declining economic growth trajectory is clearly the need of the hour and all steps should be taken to bring about this change.
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Industry's demand for a reduction in the repo rate, currently 8 per cent, has gained momentum after wholesale and retail inflation eased in February.
'It is a balanced and prudent Budget that sets the foundation for future growth in the economy.'
India Inc has expressed strong displeasure over the Delhi government's decision to withdraw approval to FDI in multi-brand retail, saying the move was likely to hinder foreign investments flowing into the country.
Welcoming the passage of Lokpal Bill in the Rajya Sabha, India Inc said that once enacted it will help weed out corruption, boost investor confidence and expedite the decision making process.
Results of four state elections are giving a strong message that government and political parties need to ensure good governance and provide corruption free rule, industry leaders said on Sunday.
It takes nearly four years on an average to resolve a commercial dispute in India, making the country the world's third worst place on this front.
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Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
BMS, a union affiliated to RSS, plans rally at Delhi's Ramlila Ground on Nov 17; SJM to protest on Oct 29.
Dismayed by the BJP's decision to say no to FDI in multi-brand retail in its election manifesto, India Inc has urged the party to reconsider its stand, saying the move may send a wrong signal to overseas investors.
The status quo decision came as a breather as only last week the RBI had pulled up banks for not helping it in monetary policy transmission.
Expressing disappointment over the contraction in industrial growth in October, India Inc has appealed to the Reserve Bank to cut interest rates to revive the manufacturing sector and ameliorate investments.
Bibek Debroy raised seven questions about the new institution.
Higher prices of onion and other vegetables and fruits pushed up inflation to 6.46 per cent in September.
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