AEPC urges Govt to retain drawback at pre-GST stage
The Dollar Business Bureau Amid declining exports, apparel exporters body Apparel Exports Promotion Council (AEPC) urged the Government to keep the total duty reimbursements to the apparel sector be retained at pre-GST stage of 7.5% drawback without input tax credits, in addition to 3.5% of RoSL. India’s apparel exports has recorded a decline of 39%, in dollar terms, for the month of October. Overall, there has been a decline of 5.94% in the outbound shipments of apparels, according to the data released by the Government. “AEPC has indicated earlier about the decline in exports in the coming days on account of the issues which have arose after the implementation of GST,” the exporters’ body said in a statement. “In the wake of dwindling apparel exports, ...
India sees lowest power shortage at 2.1% in FY16
The Dollar Business Bureau India has seen the lowest ever energy deficit at 2.1% in FY 2016, Power Minister Piyush Goyal informed the Lok Sabha in a written reply on Thursday. He also provided details of power shortage in the country in the previous twenty years as reported by the states and Union Territories. Currently, India is importing power only from one country Bhutan – mainly due to its surplus power that is produced from its hydel power stations with the Indian government’s assistance. The energy totally imported from Bhutan was more than 5 billion units in FY 2016, as per the data released by the Ministry of Power. According to the ministry, there is no shortage of coal as well. All over ...
India emerged as fastest growing major economy in world: Finance Ministry
Source: PIB, Government of India A press conference was held in New Delhi on Monday which was addressed by Ratan P Watal, Finance Secretary, Shaktikanta Das, Secretary, Department of Economic Affairs (DEA), Hasmukh Adhia, Revenue Secretary, and Arvind Subramanian, Chief Economic Adviser (CEA), Ministry of Finance among others. Following is the text of the brief Statement issued after the aforesaid Press Conference: As we complete, the first half of the current financial year 2015-16, it is time to step back and take stock of what we have achieved on the economic front, and what we need to do to consolidate the gains we have made. Despite the global slowdown and declining export demand, India has emerged as the fastest growing major economy ...
