India Positive - 25 November, 2016
- November 30, -0001
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Prime Minister Mr Narendra Modi stated that Rs 5 lakh crore (US$ 73.4 billion) has been deposited so far in banks since the demonetisation decision, which will help banks lower interest rates, thereby helping to revive economic activity in the country.
Mr Ken Hu, rotating co-chief executive, Huawei, has stated that India is a very important and promising emerging market, with huge business opportunities for handset and telecom network businesses.
The Union Cabinet has approved the third protocol to India's agreement with New Zealand on avoidance of double taxation and prevention of fiscal evasion, which will help curb tax evasion and tax avoidance.
Mr Jeffrey Immelt, Chairman, General Electric Co., views India as becoming a better place for doing business, owing to government’s focus on infrastructure, Goods and Services Tax (GST) reform, and improving transparency.
India has become an Associate Member State of the European Organisation for Nuclear Research (CERN), which will increase the collaboration between India and CERN’s scientific and technological endeavours, and will increase participation of Indian physicists, software engineers and electronics hardware in global experiments.
India and Switzerland have signed a ‘Joint Declaration’ for the implementation of Automatic Exchange of Information (AEOI) under which India will be able to receive, on automatic basis, financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years.
The Ministry of New and Renewable Energy (MNRE) has eased the norms for entry in wind energy sector by doing away with a committee which used to approve turbine models before their sale, thereby encouraging more wind turbines manufacturers to enter the Indian market.
The Telecom Regulatory Authority of India (TRAI) has lowered the ceiling tariff for Unstructured Supplementary Service Data or USSD service to 50 paise (US$ 0.007) per session, from INR 1.5 per session (US$ 0.022) per session, for mobile banking transactions, which will help move India towards greater financial inclusion and cashless society.
The Securities and Exchange Board of India (Sebi) has plans to take a series of measures, which includes allowing foreign portfolio investors (FPIs) to invest in unlisted, non-convertible debentures (NCDs) and debt, with a view to encourage angel investments and boost the start-up ecosystem instruments.
Mr Jayant Sinha, Minister of State for Civil Aviation, has stated that the government plans to double the number of airports in India over the next two to three years to cater to the increased passenger traffic due to developing regional air travel market.
The government has planned development of the 14 coastal economic zones (CEZs) in phases, starting with one each on the east and west coast, and plans to replicate the learning from them to other CEZs.
India's currency-GDP (Gross Domestic Product) ratio rose to a 16-year high of 10.6 per cent in March 2016, highest among BRICS nations.
PM Narendra Modi signals rate cut post-demonetisation
Prime Minister Mr Narendra Modi stated that Rs 5 lakh crore (US$ 73.4 billion) has been deposited so far in banks since the demonetisation decision, which will help banks lower interest rates, thereby helping to revive economic activity in the country.
India is a promising emerging market: Huawei Co-CEO Ken Hu
Mr Ken Hu, rotating co-chief executive, Huawei, has stated that India is a very important and promising emerging market, with huge business opportunities for handset and telecom network businesses.
Cabinet approves the third protocol to the convention between India and New Zealand for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income
The Union Cabinet has approved the third protocol to India's agreement with New Zealand on avoidance of double taxation and prevention of fiscal evasion, which will help curb tax evasion and tax avoidance.
Sign me up, says GE’s Jeffrey Immelt to India
Mr Jeffrey Immelt, Chairman, General Electric Co., views India as becoming a better place for doing business, owing to government’s focus on infrastructure, Goods and Services Tax (GST) reform, and improving transparency.
India becomes Associate Member of CERN, Geneva
India has become an Associate Member State of the European Organisation for Nuclear Research (CERN), which will increase the collaboration between India and CERN’s scientific and technological endeavours, and will increase participation of Indian physicists, software engineers and electronics hardware in global experiments.
India and Switzerland Sign ‘Joint Declaration’ for the implementation of Automatic Exchange of Information (AEOI) between the two countries
India and Switzerland have signed a ‘Joint Declaration’ for the implementation of Automatic Exchange of Information (AEOI) under which India will be able to receive, on automatic basis, financial information of accounts held by Indian residents in Switzerland for 2018 and subsequent years.
Renewable energy ministry eases norms for entry in wind power sector
The Ministry of New and Renewable Energy (MNRE) has eased the norms for entry in wind energy sector by doing away with a committee which used to approve turbine models before their sale, thereby encouraging more wind turbines manufacturers to enter the Indian market.
Trai lowers ceiling tariff for USSD-based service to a third, at 50 paise per session
The Telecom Regulatory Authority of India (TRAI) has lowered the ceiling tariff for Unstructured Supplementary Service Data or USSD service to 50 paise (US$ 0.007) per session, from INR 1.5 per session (US$ 0.022) per session, for mobile banking transactions, which will help move India towards greater financial inclusion and cashless society.
Sebi board to give a fillip to angel funding
The Securities and Exchange Board of India (Sebi) has plans to take a series of measures, which includes allowing foreign portfolio investors (FPIs) to invest in unlisted, non-convertible debentures (NCDs) and debt, with a view to encourage angel investments and boost the start-up ecosystem instruments.
Govt plans to double the number of airports in 2-3 years, as per Mr Jayant Sinha
Mr Jayant Sinha, Minister of State for Civil Aviation, has stated that the government plans to double the number of airports in India over the next two to three years to cater to the increased passenger traffic due to developing regional air travel market.
Centre plans phased development of CEZs
The government has planned development of the 14 coastal economic zones (CEZs) in phases, starting with one each on the east and west coast, and plans to replicate the learning from them to other CEZs.
India’s currency-GDP ratio highest among BRICS nations
India's currency-GDP (Gross Domestic Product) ratio rose to a 16-year high of 10.6 per cent in March 2016, highest among BRICS nations.
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