Barclays specified the cost of the three-week nationwide lockdown to be alone at USD 90 billion, which is over and above the lockdowns announced by various states like Maharashtra earlier. They also said that the RBI is most likely to go for a 0.65 per cent rate cut in the April review and will slash interest rates further by 1 per cent during the course of the year.
India cannot — and need not — let its economy be sacrificed at the altar of COVID-19 mitigation.
Without any protocol for resolving conflicting views between regulators on the same issue, stakeholders such as the parties involved in disputes, as well as consumers, at large suffer. Moreover, the regulatory burden for entities involved to supply information, litigate at multiple fora, etc, adding to the cost and (un)ease of doing business.
In its Global Economic Outlook 2020, Fitch said the number of people affected by coronavirus will keep rising in the coming weeks but that the outbreak will remain contained. However, there are downside risks to this scenario.
Structural and cost disadvantages have held India back. Absence of local supply chains, high manufacturing and logistics costs, combined with financial and fiscal incentives provided by the likes of Vietnam, puts India at an extra 8-10% disability. To change this, a bespoke production-linked incentive for mobile manufacturing is needed.
On February 23, 2019, the first draft of the National e-Commerce policy was placed in public domain for suggestions. Comments from over 120 stakeholders- companies both Indian and foreign, industry associations, think tanks, foreign governments were received. Post this, a series of meetings have been held with different stakeholders.
A report by the UN Conference on Trade and Development has forecast that the global economy may see an impact of $1-2 trillion in 2020. How far will the virus impact the Indian economy. Here's a brief overview.
As many as 72 changes to the Companies Act 2013 have been approved by the Cabinet. Briefing reporters, Corporate Affairs Minister Nirmala Sitharaman said the priority is to "decriminalise" provisions in the Act. Sitharaman, who is also the Finance Minister, said the Cabinet has approved 72 changes to the Act.
Against the backdrop of instances of independent and non-executive directors coming under the scanner for alleged corporate misdoings, the ministry has sent out a circular to its Regional Directors, Registrars of Companies and official liquidators with respect to prosecution proceedings. Any such proceedings must be initiated after receiving due sanction from the ministry.
Under the PMKVY-2.0, launched in October 2016, ministry had targeted to impart skill training to one crore youth for over four years (2016-20). Out of this, 60,00,000 was the target under short-term training while 40,00,000 was the target under the recognition of prior learning (RPL) component for 2016-20.
The simplified application provides for Employees' Provident Fund Organisation (EPFO) and Employees' State Insurance Corporation (ESIC) registration among other things. The ministry of corporate affairs and labour, department of revenue and the Maharashtra government have collaborated for the new offering.
It’s perhaps time to challenge a popular narrative that labour laws pull down growth and businesses.
Some of the steps proposed include a tax holiday period for eligible startups proposed will be increased to 10 years from 7 years. The turnover criteria for an eligible startup proposed to be increased to Rs 100 crore from the present Rs 25 crore. These may boost investment in startups.
The court, however, said electronic-assessment — introduced to curb cases of corruption and harassment of tax payers by officials— was a laudable initiative. The HC made the observations while hearing a writ petition filed by a Coimbatore-based chit fund company against certain additions made by the assessing officer, over cash deposits of Rs 67.37 lakh during the note ban period.
Tax rules must be clear-cut if the government wants to lower tax arrears.
The virus epidemic will weigh on India’s outlook at a time when the govt is forecasting a rebound, the CEA said.
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