Search Result for : Cabinet Committee On Economic Affairs

Source: PTI The scheme would be available to all exports of Micro, Small and Medium Enterprises (MSME) and 416 tariff lines. But it would not be available to merchant exporters   Concerned over continuous decline in exports, the government on Wednesday announced 3% interest subsidy scheme for exporters which will have a financial implication of about Rs.2,700 crore. The decision to help boost overseas shipments was taken at a meeting of Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi. The CCEA has given its approval for "Interest Equalisation Scheme (earlier called Interest Subvention Scheme) on Pre and Post Shipment Rupee Export Credit with effect from April 1, 2015 for five years", an official statement said. The rate ...

The Dollar Business Bureau The government on Thursday approved 11 foreign direct investments (FDI) proposals worth Rs.1,567.91 crore. It also recommended two proposals for consideration of Cabinet Committee on Economic Affairs. “Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 11th September 2015, government has approved 11 proposals of Foreign Direct Investment amounting to Rs. 1,567.91 crore,” Ministry of Finance said in a statement. The two proposals of Sistema Shyam TeleServices Ltd. involving investment of Rs. 10,000 crore, and IIFL Holdings Ltd. involving an FDI of Rs. 3201.5 crore, were recommended for cabinet’s consideration. “The total FDI Inflow in the cases recommended for approval is Rs.14,769.41 crore out of which two proposals with a total ...

Source: PTI Government has cleared 10 foreign direct investment (FDI) proposals entailing capital inflows of Rs 1,675.15 crore into the country. "Based on the recommendations of Foreign Investment Promotion Board (FIPB) meeting of June 15, the government has approved 10 proposals of FDI amounting to Rs 1,675.15 crore," a Finance Ministry statement said. The inter-governmental panel, chaired by Finance Secretary, cleared the proposal of Singapore-based Nickelodeon Asia Holdings resulting in an investment of Rs 940.50 crore. Nickelodeon Asia Holdings Pte Ltd (Nick Asia) had proposed to acquire 50 per cent equity interest in Prism TV. Besides, the government also cleared Rs 620 crore FDI proposal of NTT Communications India Pvt Ltd for downstream investment in an Indian company yet to be ...

Source: PIB, Government of India The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for Kharif Crops of 2015-16 Season. The decision is based on recommendations of Commission for Agricultural Costs and Prices (CACP) for the Price Policy for Kharif Crops for the Marketing Season 2015-16.  CACP takes into account the cost of production, overall demand-supply, domestic and international prices, inter-crop price parity, terms of trade between agricultural and non-agricultural sectors, the likely effect of the Price Policy on the rest of economy, besides ensuring rational utilization of production resources like land and water, while recommending MSPs.  The CACP being the expert body, its recommendations are generally ...

The Dollar Business Bureau In an effort to add momentum to the overall growth of the highways sector in India which is already on the path of revival, The National Highways Authority of India (NHAI) has been directed to develop a robust mechanism to determine eligibility of the project as also the extent of funds required to complete projects, in time-bound manner. The new development comes in the wake of the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, approving two major policy initiatives aimed at improving the availability of equity in the market and authorising the National Highways Authority of India (NHAI) to intervene in languishing projects suffering from lack of funds, said ...

The Dollar Business Bureau The Government of India seems to be very keen towards easing the norms and regulations for the business start-ups in the country. Towards this move aimed at increasing ease of doing business environment, the government intends to reduce the list of prior approvals for easing the norms for upcoming businesses. Moving ahead, the Ministry of Commerce & Industry, according to a latest release, has invited the stakeholders’ comments over the draft legislation for replacing the system involving multiple prior permissions with a pre-existing regulatory mechanism. The Department of Industrial Policy and Promotion (DIPP), Government of India, with the approval of competent authority, has constituted an Expert Committee in March 2015. The Committee, set up by the DIPP, ...

 Himanshu Vatsa | The Dollar Business Widening of highways can reduce petroleum consumption and prove to be a boon for the growth of manufacturing sector and trade of various goods across India as well as abroad. The Centre, on Wednesday, approved projects worth Rs 5,529.17 crore for the development of three national highways—NH-1 in Delhi and Haryana, NH-2 in Uttar Pradesh and NH-13 in Maharashtra. Transport operators hailed the decision which came during a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister, Narendra Modi. “If the government develops any road, the logistics cost reduces. Widening of national highways will not only ease the movement of vehicles but also reduce fuel consumption,” said P L Khaitan, Chairman ...

 The Dollar Business Bureau Days after the Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi approved two significant foreign investments (FIs) in the pharmaceutical sector – Aurobindo Pharma Ltd; and Glenmark Pharmaceutical Ltd; Union Minister for Science & Technology and Earth Sciences Dr Harsh Vardhan, announced on Saturday that Government would soon set up the Biopharma Industry Incubator (BII) under the umbrella of CSIR-CDRI, Lucknow. The S&T Ministry is also considering setting up Government Laboratory Practices (GLP)-certified labs in CSIR-CDRI for complete range of Investigational New Drug (IND) studies. The Minister said that the step would foster new drug development as well as shore up the financial bottom line of the laboratory, said a ...