Economy & News
UK exit from EU to hit Indian businesses, professionals: Ficci
One
of India's leading industry groups today came out strongly in favour of
the UK staying within the European Union, saying the exit of Britain
will "create considerable uncertainty" for Indian businesses operating
in the country. The Federation of Indian Chambers of Commerce and
Industry (FICCI) warned against "considerable uncertainty" for Indian
businesses operating in the UK and Europe at the prospect of a British
exit (Brexit) from the EU. Dr A Didar Singh, FICCI [….] Read more
at:
Central government employees demand minimum salary of Rs 26,000
Government
employees have demanded a minimum salary of Rs 26,000 as against Rs
18,000 recommended by the 7th Central Pay Commission while threatening
to go on strike if demands not met. "Minimum Pay needs to be revised to
Rs 26,000 per month and the minimum pay of Rs 18,000 as recommended by
7th CPC is not acceptable," said Minutes of the meeting of Joint
Secretary (IC) with the members of the Staff-side of the Standing
Committee (National Council-JCM). Secretary, Staff-side [….] Read
more at:
Kerala has revenue arrears of Rs 10,435.55 crore: CAG
Kerala's
total revenue arrears stood at Rs 10,435.55 crore as on March 2015, a
CAG report said today. The report on revenue sector by the Comptroller
and Auditor General of India (CAG), said out of this, Rs 1,872.12 crore
was outstanding for more than five years and no effective efforts were
made to recover them. Besides, arrears of Rs 2,138.17 crore were pending
with the departmental authorities. The cases referred for write off to a
tune of Rs 70.14 crore were also not being pursued by the [….] Read
more at:
Government approves over Rs 495 crore for 13 cities under AMRUT
The
Urban Development Ministry today approved an investment of Rs 495.11
crore in 13 cities of six states under the Atal Mission for Rejuvenation
and Urban Transformation ( AMRUT) Action Plans for 2015-16. Out of
total project cost of Rs 495.11 crore, the Centre will provide an
assistance of Rs 425 crore under the mission which seeks to ensure
coverage of all urban households in mission cities for augmenting water
supply, sewerage network services and storm water drains, besides
[….] Read more at:
Government may auction stake in ITC and L&T to achieve divestment target
The
government is planning to auction holdings in cigarette maker ITC and
engineering firm Larsen & Toubro (L&T) to make up part of the
shortfall in the money it targeted to raise from disinvestment and
alleviate the stress on finances. The sale is expected to raise about Rs
35,000 crore, said two people aware of the plan. The government has
more or less concluded that its holdings in the two companies are not of
a strategic nature, that is, it has no role to play in their
management. "The [….] Read more at:
Competitive tax rates needed to make India a manufacturing hub: FM Arun Jaitley
India
needs competitive tax rates to become an attractive manufacturing hub
that will help create jobs and boost economic growth, Finance Minister
Arun Jaitley said today. "Manufacturing is not only extremely important
activity but it is one activity with its spiral effect on the economy
which also creates the largest volumes of job, and a tax on that
manufacturing adds to the government revenue. "In order to keep
manufacturing competitive we have to keep our rates competitive and
therefore [….] Read more at:
Thanks & Regards,
Meetesh Shiroya
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