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Power supply to 18,500 villages in 3 years target achievable: Industry
Power industry players and experts are optimistic about Prime Minister Narendra Modi's target of providing electricity to 18,500 villages, mainly in the remotest areas of the country, in 1,000 days, provided the project scheme is overhauled to streamline payment system and bottlenecks in implementation removed.
UAE to increase Indian investments to Rs 5 Lakh crore (US$ 75 billion)
The United Arab Emirates (UAE) has agreed to increase its investment in India to Rs 5 lakh crore (US$ 75 billion). India and UAE have also signed a strategic partnership in the energy sector and agreed to increase trade between them by 60 per cent through the next five years.
Arun Jaitley launches funds for start-ups, small firms
Finance minister Mr Arun Jaitley launched two funds namely ‘India Aspiration Fund’ to invest in start-ups and the ‘SIDBI Make in India Loan for Enterprises’ (SMILE) to aid small enterprises.
Sebi to ease rules for infrastructure investment trusts
With a view to encourage firms to unlock capital, the Securities and Exchange Board of India (SEBI) has proposed to reduce minimum commitment amount required by sponsors in Infrastructure Investment Trusts (InvITs) from 25 per cent to 10 per cent and allow two layers of Special Purpose Vehicles (SPVs) for investment.
Government considering two-rate structure; key services to be taxed at lower rate in GST regime
The Central Government is considering a two-rate structure for the Goods and Services Tax (GST), under which key services will be taxed at a lower rate compared to the standard rate, which will help to minimise the impact on consumers due to increase in service tax
Growth In Indian Urbanisation to continue in the coming years
Urban consumption growth is showing signs of improvement and this trend is likely to continue in future as a result of India's favourable demographics and rising disposable income, according to Morgan Stanley report
Reliance, Airtel, nine others get RBI nod to open payments banks
The Reserve Bank of India (RBI) has given in-principle approval to 11 entities to open payment banks which will result in widening the reach of banking services and giving a boost to government’s goal of financial inclusion.
Government to hike health care investment to 2.5% of GDP by 2020
The Central Government has increased the target public investment in health to 2.5 per cent of Gross Domestic Product (GDP) by 2020 from 1.04 per cent as part of the revised draft of National Health Policy.
Government working on multi-pronged strategy to push up exports: Commerce Secretary Rita Teaotia
The Government of India is working on a multi-faceted strategy to make Indian exports more competitive. The Ministry of Commerce is focusing on exports sectors with a huge potential such as pharmaceuticals, readymade garments, leather, gems and jewellery, chemicals and agro-chemicals, said Ms Rita Teaotia, Commerce Secretary, Government of India
Govt to lower cost of CPSE ETF to attract more retail investors
To attract more retail investors to invest in Central Public Sector Enterprise (CPSE) Exchange-Traded Fund (ETF), the Central Government plans to reduce the prices of bundles of ETF to Rs 36,000 (US$ 540) from about Rs 25 lakh (US$ 37,500).
Government simplifies contribution and exit rules for Atal Pension Yojana
To increase the subscriber base and ensure wider reach, the Central Government has eased several norms for its flagship insurance scheme Atal Pension Yojana (APY),in terms of more options for periodical contributions, voluntary and premature exits and simplified penalty for payment delays
Government launches Suraksha Bandhan Drive to facilitate enrolment under various insurance schemes through gift cheques and bank deposit schemes
Government has launched a special enrolment drive, Suraksha Bandhan Drive comprising of sale of gift cheques and launch of deposit schemes in bank branches, to facilitate enrolment under Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).