Economy & News
7.6% GDP outlook is significant, says Shaktikanta Das
India's
growth projection for the current fiscal is "very, very significant",
Shaktikanta Das has said and promised more measures to boost economic
growth. "India remains a bright spot amid the global slowdown. We live
in a global village. Therefore, whatever happens in any part of the
world affects us because India over the last several years is getting
increasingly globalised," economic affairs secretary Shaktikanta Das
said on the finance ministry's YouTube channel on Monday. The statement a [….] Read more at:
India likely to review FTAs after WTO’s facilitation pact kicks in
India
may take a re-look at its free trade agreements once the World Trade
Organization's trade facilitation agreement (TFA) comes into force. The
move follows a meeting chaired by Prime Minister Narendra Modi on
February 18 where the role of India's free trade agreements was
discussed in wake of the country ratifying the trade facilitation pact.
The meeting, which was attended by commerce and industry minister
Nirmala Sitharaman, finance minister Arun Jaitley, NITI Aayog [….]
Read more at:
SBI chief Arundhati Bhattacharya allays fears over capital, growth; says no capital shortfall
State
Bank of India chairman Arundhati Bhattacharya said that the country's
largest lender will not get stymied by lack of capital and that there is
no capital shortfall. "No, at this point of time, there is no genuine
capital shortfall. The raising of capital is basically in order to feel
more comfortable but we already have over 12 per cent overall capital
and that is far above what the RBI has stipulated," Bhattacharya said.
She added that the bank would be able to manage growth of 13-14 per cent
[….] Read more at:
Monsanto faces challenge from CICR’s Bt cotton varieties
This
could turn out to be the biggest challenge yet in India to Monsanto,
the American agriculture behemoth. And, this comes from a government
institute. The Central Institute of Cotton Research in Nagpur has
introduced Bt genes into 21 cotton seed varieties, which scientists say
can be provided to farmers at 10% of the price of hybrid seeds. These
also offer better pest resistance, they claim. The Bt varieties are
being provided this year to the state agricultural departments of
[….] Read more at:
India eases customs rules for local arms of multinationals
India
has simplified rules governing pricing of imports by related parties
including Indian arms of import-dependent multinationals such as
Swarovski, Apple, BMW, Audi, and Bausch & Lomb, a move that is
expected to significantly improve ease of doing business for such
entities. The government has revamped decade and-half-old customs rules
and done away with a requirement that made deposit of extra duty on
imported goods by such entities mandatory. The new simplified [….]
Read more at:
Rescued bonded labourers in India to get more compensation
The
government plans a five-fold increase in compensation given to rescued
bonded labourers, but campaigners said more must be done to ensure
vulnerable people receive the money soon after being rescued, so they
can start new lives. The revised guidelines, awaiting final approval
from the Ministry of Labour and Employment, would increase compensation
to a minimum of 100,000 rupees ($1,450) from 20,000 rupees ($290), a
senior ministry official said. The first revision of the scheme [….]
Read more at:
Thanks & Regards,
Meetesh Shiroya
No comments:
Post a Comment