“The move will definitely have a positive impact on manufacturing, especially for so-called booming sectors such as solar and electronics,” Madan Sabnavis, chief economist at Care Ratings Ltd. said. “It is a good way of attracting investments and has potential to make a difference in these sectors”. … [Read more...] about India considers $23 billion package to lure global manufacturers
Corporate tax in india
New Delhi: Moody's Investors Service today changed the outlook on the Government of India's ratings to negative from stable reflecting increasing risks that economic growth will remain materially lower than in the past, partly reflecting lower government and policy effectiveness at addressing long-standing economic and institutional weaknesses than previously estimated, leading to a gradual rise in the debt burden from already high levels.“Prolonged financial stress among rural households, weak job creation, and, more recently, a credit crunch among non-bank financial institutions have increased the probability of a more entrenched slowdown. Moreover, the prospects of further reforms that would support business investment and growth at high levels, and significantly broaden the narrow tax base, have diminished,” the top credit rating agency said. It added that if the nominal GDP growth does not return to high rates, the government will face very significant constraints in … [Read more...] about India’s economic outlook changed to negative from stable: Moody’s
BY: Kamlesh Patel, chairman and managing director, Asian Granito IndiaTiles industry in India is estimated at around Rs 35,000-40,000 crore and growing at healthy single-digit employing over six lakh people in direct and indirect employment. About 40% of the industry is organized while 60% is with small players in Morbi, Rajkot and other clusters. The industry will continue to play an important role in the economic growth in the future and aim for global leadership in the industry and success of 'Make in India'.We expect the government in its first budget of the second term to continue special thrust on the rural economy, social sector reforms, infrastructure and housing sector. Finance Minister needs to adopt softer interest rates for a time-being and roll out a bigger tax benefit for individual and corporate aiming at increasing the investment - capex cycle, giving a boost to demand cycle aiming healthy GDP growth.Indian ceramic industry would aim for a green and environment … [Read more...] about GST on tiles should be reduced to 12%: Kamlesh Patel, MD, Asian Granito India
GUWAHATI: North Eastern Coalfields (NEC), the Assam based coal producing unit of Coal India limited (CIL) stated that it is in the process of complying with stipulations and conditions laid down by the National Board for Wild Life (NBWL) and Ministry of Environment & Forest and Climate Change (MoEF&CC) for mining Coal in Tikak Open Cast Project, falling under Saleki Proposed Reserve Forest of Digboi in Assam.In a statement NEC stated, “It is clarified that nearest distance of Dehing Patkai Wildlife Sanctuary from the project is 9.19 Kms and nearest Elephant Corridor, Golai-Powai is located at a distance of more than 10 Kms from the project”.There is opposition from different quarters to coal mining in the area on the ground that it will pose threat to the environment and wildlife. Assam forest Minister Parimal Suklabaidya visited the area to take stock of the actual situation.NEC added, "It is clarified that coal mining operations in Tikak OCP have been suspended … [Read more...] about Coal India arm assures compliance with green rules for mining in new Assam project
By Siddharth GoelNew Delhi: Invest in a clean, green transition, end fossil fuel subsidies, put a price on carbon and commit to no new coal plants after 2020, urged United Nations Secretary-General Antonio Guterres, addressing India at the 19th Darbari Seth Memorial Lecture. But given that India’s quarterly GDP has fallen by a whopping 23.9% in the first quarter of this year, can the country really afford these measures?A deeper look at fossil fuel subsidies and emerging renewable energy solutions suggests that green stimulus could actually be India’s most economically viable pathway to recovery.Are fossil fuels supported more than renewables?Over the past four years, the International Institute for Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW) have been mapping India’s energy subsidies. Our latest inventory shows that in 2018-19, subsidies for fossil fuels were seven times higher than subsidies for clean energy.Skeptics might … [Read more...] about OPINION: Can India afford a green stimulus during the pandemic?