India Positive - 20 January, 2017
- March 3, 2017
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India is expected to move up five spots to be ranked among the top five business travel market globally by 2030, as business travel spending in the country is expected to treble until 2030 from US$ 30 billion in 2015, according to a report by KPMG and FCM Travel Solutions.
Mr Lars Heikensten, Executive Director, Nobel Foundation, has predicted that India's share of the global economy is expected to increase in the future based on its on-going policy reforms.
India's economic activity is expected to pick-up in the second half of 2017, from the projected 6.6 per cent growth for 2017, as Government of India's demonetisation initiative will likely strengthen the country's institutional framework by reducing tax avoidance and corruption, and enhance efficiency gains, according to Moody's and its Indian affiliate ICRA Ltd.
The Union Cabinet has approved the public listing of five Government-owned general insurance companies and reducing the Government’s stake to 75 per cent from 100 per cent, which is expected to bring higher levels of transparency and accountability, and enable the companies to raise resources from the capital market to meet their fund requirements.
The Government of India and the Government of the State of Nagaland signed financing agreement and project agreement respectively with The World Bank, for the ‘Nagaland Health Project’ for US$ 48 million, which aims to improve health services and increase their utilisation by communities in targeted locations in the state.
Indians downloaded 6 billion apps in 2016, which was 71 per cent higher than in 2015, helping India to be ranked number one in terms of Google Play downloads, outpacing the US, as per research firm App Annie.
The Government of India plans to integrate the recently launched Bharat Interface for Money (BHIM) app with the Aadhaar ID of users, which will rule out the need for biometric authentication or the need of prior registration with the bank or unified payment interface (UPI), and thereby facilitate easier transactions through mobile devices.
India has the opportunity to boost the value of its exports by 5-8 per cent year-on-year in 2017, through a 10 per cent reduction in trade cost which could boost India’s competitiveness and contribute additional revenues of up to US$ 5.5 billion, according to a study conducted by Confederation of Indian Industry (CII) and Maersk Group.
India's labour force is expected to touch 160-170 million by 2020, based on population growth rate, increased labour force participation, and education enrolment at higher levels, among other factors, according to a study by ASSOCHAM and Thought Arbitrage Research Institute.
The nationwide common Goods and Services Tax (GST) regime is set to be rolled out from July 01, 2017, after the centre and state governments agreed to a consensus on sharing of administrative powers over small and big taxpayers.
Mr Suresh Prabhu, Railway Minister of India, has unveiled Mission 41k initiative, aimed at saving Rs 41,000 crore (US$ 6.02 billion) on the Indian Railways' expenditure on energy consumption over the next 10 years by doubling the annual rate of electrification from 2,000 km to 4,000 km in the next two years.
The Union Cabinet has approved incentives up to Rs 10,000 crore (US$ 1.47 billion) for investors by amending the Modified Special Incentive Package Scheme (M-SIPS) scheme, in order to further incentivise investments in electronics sector, create employment opportunities and reduce dependence on imports by 2020.
India 10th largest business travel market: Report
India is expected to move up five spots to be ranked among the top five business travel market globally by 2030, as business travel spending in the country is expected to treble until 2030 from US$ 30 billion in 2015, according to a report by KPMG and FCM Travel Solutions.
India's share of global economy to increase: Lars Heikensten, Executive Director, Nobel Foundation
Mr Lars Heikensten, Executive Director, Nobel Foundation, has predicted that India's share of the global economy is expected to increase in the future based on its on-going policy reforms.
India’s economic activity to pick up in second half of 2017: Moody’s
India's economic activity is expected to pick-up in the second half of 2017, from the projected 6.6 per cent growth for 2017, as Government of India's demonetisation initiative will likely strengthen the country's institutional framework by reducing tax avoidance and corruption, and enhance efficiency gains, according to Moody's and its Indian affiliate ICRA Ltd.
Cabinet approves Listing of Government owned General Insurance Companies at the stock exchanges
The Union Cabinet has approved the public listing of five Government-owned general insurance companies and reducing the Government’s stake to 75 per cent from 100 per cent, which is expected to bring higher levels of transparency and accountability, and enable the companies to raise resources from the capital market to meet their fund requirements.
India Signs Financing Agreement with World Bank for US$ 48 Million for “Nagaland Health Project"
The Government of India and the Government of the State of Nagaland signed financing agreement and project agreement respectively with The World Bank, for the ‘Nagaland Health Project’ for US$ 48 million, which aims to improve health services and increase their utilisation by communities in targeted locations in the state.
India beats US in 2016 mobile app market growth, sees most Google Play downloads
Indians downloaded 6 billion apps in 2016, which was 71 per cent higher than in 2015, helping India to be ranked number one in terms of Google Play downloads, outpacing the US, as per research firm App Annie.
Govt to integrate BHIM app with Aadhaar for transactions
The Government of India plans to integrate the recently launched Bharat Interface for Money (BHIM) app with the Aadhaar ID of users, which will rule out the need for biometric authentication or the need of prior registration with the bank or unified payment interface (UPI), and thereby facilitate easier transactions through mobile devices.
India has opportunity to improve its global trade share in 2017: Maersk
India has the opportunity to boost the value of its exports by 5-8 per cent year-on-year in 2017, through a 10 per cent reduction in trade cost which could boost India’s competitiveness and contribute additional revenues of up to US$ 5.5 billion, according to a study conducted by Confederation of Indian Industry (CII) and Maersk Group.
India's labour force will expand to 170 million by 2020: Assocham
India's labour force is expected to touch 160-170 million by 2020, based on population growth rate, increased labour force participation, and education enrolment at higher levels, among other factors, according to a study by ASSOCHAM and Thought Arbitrage Research Institute.
Stage set for GST rollout on 1 July
The nationwide common Goods and Services Tax (GST) regime is set to be rolled out from July 01, 2017, after the centre and state governments agreed to a consensus on sharing of administrative powers over small and big taxpayers.
Suresh Prabhu unveils 10-year energy plan for Railways to save Rs41,000 crore
Mr Suresh Prabhu, Railway Minister of India, has unveiled Mission 41k initiative, aimed at saving Rs 41,000 crore (US$ 6.02 billion) on the Indian Railways' expenditure on energy consumption over the next 10 years by doubling the annual rate of electrification from 2,000 km to 4,000 km in the next two years.
Cabinet approves incentive scheme, boost for electronics manufacturing
The Union Cabinet has approved incentives up to Rs 10,000 crore (US$ 1.47 billion) for investors by amending the Modified Special Incentive Package Scheme (M-SIPS) scheme, in order to further incentivise investments in electronics sector, create employment opportunities and reduce dependence on imports by 2020.
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