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Policy

Oct 18, 2019, 00.29 AM IST
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New industrial policy not to replicate state models

The move comes even as India’s industrial production shrank 1.1% in August, the worst performance in almost seven years, reflecting a slump in demand and highlighting the challenge faced by the government in reversing the economic slowdown.

Probing 'predatory' pricing by Flipkart, Amazon: Piyush Goyal

Piyush Goyal said e-commerce companies have no right to offer discounts or adopt predatory prices. "We will take stringent action against them, if there is violation of any law in letter or in spirit. Action will be taken as per the law."

Regulator, auditor should be held responsible for frauds in banks: Anurag Thakur

The comment came on the line of the recent fraud in PMC Bank. He said it is the job of the regulator first to look into those issues and subsequently the RBI has allowed withdrawal of Rs 40,000, which covers around 77% of the affected people.

No better place for investors than democracy-loving, capitalist-respecting India: FM Sitharaman

Speaking at an investors meeting in the IMF HQ, she assured international investors at an interaction session at the IMF's headquarters that the government was continuously working to bring reforms.

India-bound FDI may face thorough frisking

The Department for Promotion of Industry and Internal Trade (DPIIT), the finance ministry’s department of revenue and the home ministry are holding discussions on the matter, with plans for heightened oversight in the works.

CEA KV Subramanian urges investments as costs low, growth ahead

According to CEA KV Subramanian, it is the right time to invest in the country as labour cost and other expenditure would be lower owing to the slowing economy and that it is investment which would spur economic growth.

View: Behavioural theory may explain why the rate of investment in the economy continues to flounder

Govts across the world have also found that they have to contend with ascertain morality that considers cheating on taxes very lightly. They have also found that compliance suffers when taxpayers harbour negative feelings towards authorities.

India should not miss the bus for local manufacturing of EVs: Nitin Gadkari

In June, a committee headed by NITI Aayog chief Amitabh Kant laid out a roadmap for the smooth roll-out of electric vehicles in a phased manner, as well as the setting up of battery manufacturing factories to bring down the costs of EVs.

State governments and industry have committed to train 7 lakh apprentices in the current fiscal: Skill Development Ministry

The number of apprentices has almost doubled after the 15-day Pakhwada. The govt had introduced comprehensive reforms to the Apprenticeship Act, 1961, a move that saw about 7.5 lakh apprentices engaged in a span of two-and-a-half years.

Nitin Gadkari for policy measures to create jobs in rural areas, check migration

Gadkari said the country needs to find ways to provide job opportunities for people in their villages so they don't need to leave their homes. The minister also said that skilled manpower was the biggest requirement in the country.

Agri ministry to study Ujjwala scheme to improve PM KISAN payment system

Agri ministry to study Ujjwala scheme to improve PM KISAN payment system

The PM Kisan scheme provides cash assistance up to Rs 1600 for new LPG connection and subsidy is transferred subsequently to more than 800 million Aadhar seeded bank accounts on every refill. The Ujjwala scheme uses an Aadhar-based payment mechanism.

India cannot sacrifice economic strength to comply with U.S. sanctions: Finance Minister

India cannot sacrifice economic strength to comply with U.S. sanctions: Finance Minister

The US, in January, imposed the toughest sanctions yet on Venezuela's oil industry, a move that scared away some global customers. But with few alternative suppliers, Reliance has been buying Venezuelan crude from Russian major Rosneft.

Govt will look at data analytics to plug revenue leakages: Ajay Bhushan, Revenue Secretary

Govt will look at data analytics to plug revenue leakages: Ajay Bhushan, Revenue Secretary

The Government has hit back at critics of the Good and Service Tax. Revenue Secretary Ajay Bhushan Pandey while admitting to need for improvement in GST, tells ET Now exclusively that Govt will look at data analytics to plug revenue leakages. Meanwhile, the issue of compensation fund will also be mulled by the upcoming GST Council. Ashna Mishra & Ruchi Bhatia caught up with him.

Important for India to keep fiscal deficit in check: Gita Gopinath

Important for India to keep fiscal deficit in check: Gita Gopinath

IMF has projected India's growth at 6.1% in 2019 and noted that Indian economy is expected to pick up at 7% in 2020. Even though revenue projections look optimistic, the IMF chief economist said India must not lose sight of its deficit goal.

Goyal blames structural adjustment for slowdown, says nothing to worry

Goyal blames structural adjustment for slowdown, says nothing to worry

Piyush Goyal said the ongoing economic slowdown was periodic. Reiterating on the Indo-US trade relations, he claimed it is not disputatious. India clocked in a 5% growth in Q1 and most global institutions have scaled down growth forecasts.

Will meet tax targets: Ajay Bhushan Pandey, Revenue secretary

Will meet tax targets: Ajay Bhushan Pandey, Revenue secretary

Revenue secretary Ajay Bhushan Pandey strongly refuted criticism that the goods and services tax was the cause of the current economic slowdown, saying it was a win-win for everyone, with the incidence of taxation coming down on every commodity.

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