“Earlier Latin American countries were dependent on supply of rice from the US. But now they have turned their eyes to India and are placing orders with our rice exporters,” said Vinod Kaul, executive director, All India Rice Exporters Association.
Labour force refers to the part of the population which supplies or offers to supply labour for pursuing economic activities for the production of goods and services and therefore, includes both employed and unemployed persons.
Narendra Singh Tomar said the Indian Council of Agricultural Research (ICAR) provides training to farmers on effective flood management in flood plains and flood-prone ecologies of India.
The Department Related Parliamentary Standing Committee On Commerce in its report 'Augmenting Infrastructure Facilities to Boost Exports' said FTAs should be signed while balancing the interest of the domestic market and exporters.
"Increasing the buoyancy of tax revenue through improved compliance, mobilisation of resources through monetisation of assets, improving efficiency and effectiveness of public expenditure etc are the important measures initiated by Government to control the fiscal deficit and the debt burden," he said in a written reply in the Rajya Sabha.
The government on Tuesday said there is no proposal as of now to merge public sector general insurance companies. There are four general insurance companies -- New India Assurance Company, National Insurance Company Limited (NICL), United India Insurance Company Limited (UIICL) and Oriental Insurance Company Limited (OICL).
The bounce back in the second quarter is led by improvement in private consumption and investment. Private consumption forms the majority of India's overall GDP and is key to a robust climb back from the depths of recession last year.
The all-India CPI-IW (Consumer Price Index-Industrial Workers) for October 2021 increased 1.6 points and stood at 124.9 points. It was 123.3 points in September 2020.
Prime Minister Narendra Modi announced at last month's United Nations Climate Change Conference that India would become net-zero carbon emitter by 2070. India at present is the world’s third-biggest emitter of polluting gases and solid wastes.
The output of eight core sectors in the month of October grew 7.5% in October Vs 4.5% in September and -0.5% in October 2020, according to data released on Tuesday.
In India, 89 per cent of Generation Z mentioned that they had to choose between work and well-being or family. They attributed working from home to blurring the boundaries of definitive working hours.
The government had pegged this year's fiscal deficit at 6.8 per cent.
"Banks make assessments based on KYC and other ratings like civil ratings. I don"t think any specific instructions are given to banks -- please be careful not to lend to these people," she said in the Upper House while responding to a supplementary queries.
GST, which subsumed indirect taxes like excise duty, service tax and VAT, was rolled out from July 1, 2017. The five year period for compensation ends in June 2022.
Minister of State for Finance Pankaj Chaudhary in a written reply to a question stated that collection from levy of central excise duty on petrol and diesel increased from Rs 1.78 lakh crore in 2019-20 to Rs 3.72 lakh crore in 2020-21 (April 2020 to March 2021).
Audit noticed that in the expenditure budget the above mentioned expenditure on recapitalisation of the PSBs, had been netted against receipts from issue of special securities, while in the receipt budget, receipts from the securities have been netted against expenditure on recapitalisation.
The Philippines and India are also looking at forging a preferential trade agreement, which would help improve current trade levels in terms of value and volume.
The DGFT said that applications for an export license obtained for these products obtained from artificially propagated sources (cultivated origin outside forest areas) should be accompanied by attested copies of certificate of origin issued by forest officers along with certificate of current position of stocks procured.
The Alternative Mechanism (AM) on strategic disinvestment comprises Road Transport Minister Nitin Gadkari, Finance Minister Nirmala Sitharaman and Minister of State for Science and Technology Jitendra Singh.
The agency has attributed the higher growth to the nine consecutive quarters of over 3 per cent agriculture growth, which has brightened consumer spending and the resultant uptick in private final consumption expenditure, which is likely to clip at around 10 per cent in the September quarter of the current fiscal.
Retired justice AK Sikri-led committee on the action plan for online dispute resolution -- set up by the Aayog -- has suggested in its report that the government builds up requisite infrastructure and sufficiently enhances capacity if it intends to mainstream ODR and make it broad-based in India.
According to a survey by Deloitte Touche Tohmatsu India LLP (Deloitte India), many CFOs are focusing on the post-pandemic opportunities and challenges. About 70 per cent respondents expect the economy to clock a growth rate of 5-10 per cent or more in the current financial year.
According to minister Rameswar Teli, “labour” is in the concurrent list of the Constitution and under the labour codes, rules are required to be framed by the central government as well as by the state governments.
Here is a look at what analysts are expecting from India's Q2FY22 GDP numbers tomorrow
The Skill Loan Scheme aims to provide loan facility to aspirants wanting to do skill development courses aligned to National Skill Qualification Framework (NSQF). Loan amount varies from Rs 5,000 to Rs 1,50,000 depending on the course and has a repayment period of three to seven years.
The Nomura India Business Resumption Index, a weekly tracker which compares activity with the pre-COVID week, inched up to 114.5 for the seven days ended Sunday, as against 114 in the previous reporting week.
In India, informal employment is defined as someone who is not eligible for at least one social security benefit among provident fund (PF), pension, gratuity, health care or maternity benefit. Formal Employment, on the other hand, is one who gets at least one social security benefit.
It has suggested strengthening the existing legislative framework for ADR and introduce ODR related amendments and bringing in legislative backing for ODR in the form of digitizing key legal processes such as notarization and payment of stamp duties.
With this, so far this fiscal Rs 25,376.75 crore has been obtained through dividends from various CPSEs, as per the Department of Investment and Public Asset Management (DIPAM) website.
Giving details of Goods and Services Tax (GST) compensation released and pending to be released as on November 24, 2021, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that Rs 1,10,208 crore and Rs 1.59 lakh crore was released to the states as back to back loan in 2020-21 and 2021-22 fiscals, respectively.
"The Net Direct Tax Collection figures for the FY- 2021-22 as on 23.11.2021 are at Rs 6,92,833.6 crores showing a growth of 67.93 per cent and 27.29 per cent over the net collection figures for the corresponding period FY2020-21 and FY 2019-20," he said in a written reply in the Lok Sabha.
The report-- Asia Economics: Assessing the risks from the new Covid variant—said that countries such as India would soon look at lockdowns if the impact of the new variant intensifies.
The imposition of anti-dumping duty is permissible under the World Trade Organisation (WTO) regime. The duty is aimed at ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.
On the very first day of the winter session of the Parliament, the government received questions regarding the looming ban of cryptocurrency and the RBI’s plans to introduce an official digital currency.
The government has no proposal to recognise Bitcoin as a currency in the country, Finance Minister Nirmala Sitharaman said in a reply to the Lok Sabha on Monday.
Chakraborty, who is the director of the National Institute of Public Finance and Policy, said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months.
The Ministry of Corporate Affairs (MCA) released a consultation paper on November 24 seeking public comments on a draft cross-border insolvency framework under the Insolvency and Bankruptcy Code (IBC) by December 15.
'Donate a pension' campaign is likely to cost an individual only Rs 36,000 per worker, in a one-time outgo that would compensate for the monthly contribution required to be made by the worker during his entire work life.
Terming the Centre’s bill as a response to the central bank’s concerns about macro-economic stability, the official said the “government’s response is not to ban cryptocurrencies but rather to provide cryptocurrency via the RBI.”
Assam chief minister Himanta Biswa Sarma said that the state government has been able to fulfill its election promise of microfinance loan relief within six months
The Lankan Finance Minister’s visit is meant to not only secure loans but also seek wider cooperation on a range of other matters, including investment, trade and tourism.
India has been through two devastating waves of Covid-19. Data suggests the country has lost as many as 4.68 lakh lives to the disease. Multitudes of livelihoods have been affected, the work culture has evolved overnight, record-breaking strides in science have been made and yet, just as the sentiment was beginning to improve, Omicron has emerged.
Data shows that business optimism for the fourth quarter of this calendar year is the highest since the second quarter of the calendar year 2014 with the construction sector most optimistic on the level of the selling price, inventory levels, and hiring of employees.
With money laundering and terror financing becoming easy due to the lack of coordinated global rules with respect to cryptocurrencies, new global norms are being set on its permission and management. The Indian Parliament will be addressing the issue of regulation/banning of cryptocurrencies next week onwards. The norms India sets might have to be in line with the FATF norms.
As many as 438 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.34 lakh crore, according to a report.
"It was a frustrating evening; the price was fluctuating so much. I was trying to sell some coins and buy a few to average out but was unable to do so. There was a problem with the MobiKwik wallet and it lasted till Wednesday. The prices went up the next day, and I lost out because I couldn't trade," Gopal Somani said.
India currently fixes the rates for two dozen farm commodities, including some grains and pulses, and procures limited volumes for its welfare programs at those levels. Private players buy agricultural goods at market-determined prices.
“Our effort, along with the states, is to eliminate burdensome compliances , or reduce the need for licensing, reduce the regulatory burden, permissions, and rationalise the renewal process... Self regulation and self certification should be the way forward,” Goyal said.
“Our effort, along with states, is to eliminate burdensome compliances, or reduce the need for licensing, reduce the regulatory burden, permissions, and rationalise the renewal process. But it only happens when we work together. Self regulation and self certification should be the way forward,” Goyal said at the CII National Conference on Ease of Doing Business for Aatmanirbhar Bharat.
