Government
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Indian government has announced a special assistance over $ 183 million (Rs. 900 crore) to help exporter meet the challenges arising out of global economic conditions. Commerce and Industry Minister Anand Sharma announced the new measures that are part of the annual supplement of the Foreign Trade Policy.
Special assistance scheme is applicable to exporter of to engineering, pharmaceuticals and chemical sectors. Under this scheme, fifty products in these sectors will get special bonus of additional one per cent of export value between October and March this fiscal. The minister has introdu
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Indian govt to formulate a restructuring program for the struggling textiles Industry
Publish date: 13 Oct 2011 06:21:41 AM
India’s commerce, industry and textiles minster, Anand Sharma has directed his ministry to formulate a restructuring program for the textiles industry in consultation with ministry of finance and Reserve Bank of India. “The restructuring program could address issues like moratorium on repayment of TUFS loans, packing credit in foreign currency to be made available by banks, working capital assistance and interest subvention on export of textiles and clothing” He said at a meeting with the stakeholders in Textiles sector late last evening. The meeting was part of structured dialogue that the Mi
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Indian government to enact Food Security Act to provide guarantee food to all citizens
Publish date: 13 Oct 2011 06:10:13 AM
Minister of Consumer Affairs, Food & Public Distribution Prof K.V Thomas has said that the Indian Government is committed to enactment of the National Food Security Act to provide a statutory framework for assured food security to all . Addressing the Inaugural Session of a seminar organised by International Rice Research Institute (IRRI) here today, the Minister said that the proposed legislation would be a paradigm shift in approach towards food security - from welfare based to rights based approach, involving legal obligation on the Government to deliver food entitlements. It will be a comp
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Indian govt’s National Telecom Policy aims for 100Mbps broadband speed and teledensity of cent percent by 2020
Publish date: 10 Oct 2011 11:06:42 AM
The new draft National Telecom Policy (NTP) released by India’s telecom ministry aims increase in rural teledensity from 35% to 100% by 2020. The new telecom policy aims at doing away with roaming fees. It aims to provide affordable and reliable broadband on demand by the year 2015 and to achieve 175 million broadband connections by the year 2017 and 600 million by the year 2020 at minimum 2 Mbps download speed and making available higher speeds of atleast 100 Mbps on demand.
It would promote the domestic production of telecommunication equipment to meet 80% Indian telecom sector demand thr
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Indian govt propose new IT policy to create 10 million new jobs and revenue of $ 300 billion by 2020
Publish date: 08 Oct 2011 02:07:12 AM
Indian government’s ministry of information technology unveiled the draft policy on information technology, 2011 that is aims to create exports worth $ 200 billion and a total revenue of $ 300 billion by 2020 from the IT and ITes sector. Presently the export value is worth $ 59 billion, while the revenue is $ 88 billion at present. The 80 per cent revenues of Indian IT sector comes from export.The policy will target to create a pool of 10 million skilled workers. The sector employs over 2.5 million skilled people
The IT minister Kapil Sibal said, "We are waiting for the Direct Taxes Code (
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India’s direct tax collection for April-September 2011 period up by 23 percent
Publish date: 08 Oct 2011 12:41:12 AM
India's gross direct tax collection during the first half of the current fiscal (April-September 2011) was up by 23 percent at Rs 257,042 crore as against Rs 208,971 crore in the same period last fiscal. While gross collection of corporate taxes was up 23.17 percent (Rs.175,360 crore against Rs 142,368 crore last year), gross collection of personal income tax was up by 22.65 percent (Rs 81,353 crore against Rs 66,330 crore last year). Net direct tax collections stood at Rs 194,812 crore, up from Rs 181,758 crore in the same period last fiscal.
The growth of gross direct taxes for the first
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India’s new National Policy on Electronics aims to generate 28 million employment and $ 400 billion turnover by 2020
Publish date: 03 Oct 2011 05:42:23 AM
India’s Communications and Information Technology Ministry released the draft National Policy on Electronics to generate 28 million employment and $ 400 billion turnover by 2020. The policy targets $ 100 million of new investment. The policy envisions creating a globally competitive Electronics Systems and Design Manufacturing (ESDM) industry including nano-electronics to meet the country's needs and serve the international market. This is a quantum jump from production level of about $ 20 billion in 2009. This includes achieving a turnover of $ 55 billion of chip design and embedded software
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