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    India Positive - 02 September, 2016

  • India Positive - 02 September, 2016

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September 02, 2016

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India to grow at 7.6 per cent in FY'17: RBI

The Indian economy is expected to grow at 7.6 per cent in FY 2016-17, based on a better than anticipated agricultural performance and the possibility of allowances under the Seventh Pay Commission, according to the Reserve Bank of India (RBI).

India, US sign military logistics agreement

India and the US have signed an agreement on military logistics, which will allow each nation to use the other's defence facilities to replenish warships, aircraft and land forces.

Cabinet approves simplification and liberalisation of the Foreign Direct Investment Policy, 2016 in various sectors

The Union Cabinet has approved the simplification and liberalisation of Foreign Direct Investment (FDI) Policy, 2016, which is expected to improve ease of doing business, and thereby contribute to growth of investment, income and employment in the country.

Cabinet approves initiatives to revive the construction sector

The Cabinet Committee on Economic Affairs (CCEA) has approved various measures to revive the construction sector, putting in place a mechanism to release funds stuck in arbitration awards to revive stalled projects, and promised a scheme to address stressed loans in the sector.

India, Myanmar sign four pacts, agree to cooperate on insurgency

Government of India and Government of Myanmar have signed four pacts, which includes pacts to speed up construction of the Asian Trilateral Highway and agreeing to cooperate in efforts to fight insurgency, after the bilateral talks between Mr Narendra Modi, Prime Minister of India, and Mr Htin Kyaw, President of Myanmar in New Delhi.

India ranks third in implementing robotic automation

India ranks third globally in implementing robotic automation in their core business processes, according to the Chartered Institute of Management Accountants (CIMA).

India jumps 19 places in World Bank’s Logistics Performance Index; improves its ranking from 54 (in 2014) to 35 (in 2016)

India has jumped 19 places to rank 35th amongst 160 countries in World Bank's Logistics Performance Index (LPI) 2016, which ranks countries based on their performance in customs, infrastructure, international shipments, logistics quality and competence, tracking and tracing, and timeliness.

Govt plans single policy for retail, e-tail & FMCG: Kant

Mr Amitabh Kant, Chief Executive Officer of the National Institution for Transforming India (NITI Aayog), has stated that the Government of India is planning to bring retail, fast-moving consumer goods (FMCG) and e-commerce sector within a single policy framework, which will address all concerns of industry and consumers.

Govt sets up incubation centre for start-ups

Mr Ravi Shankar Prasad, Union Minister of Electronics and Information Technology, inaugurated an Electropreneur Park at University of Delhi’s South Campus, which would incubate 50 early stage start-ups and create at least five global companies over a period of five years.

Isro plans to launch record 68 satellites in one mission by early 2017

Mr Rakesh Sasibhushan, Chairman and Managing Director of Antrix Corporation, has stated that the Indian Space Research Organisation (ISRO) plans to send into orbit a record 68 small satellites from countries across the world, in one mission, by early 2017.

$1 billion fund in the works for stressed assets, renewable projects: Piyush Goyal

The Ministry of Power plans to set up two funds of US$ 1 billion each, which would give investment support for stressed power assets and renewable energy projects in the country.

Isro joins elite group with successful scramjet test

The Indian Space Research Organisation (ISRO) successfully flight-tested its scramjet engines, which could bring down launch costs by reducing the amount of oxidiser to be carried along with the fuel on rockets.