New trade pact between India and Bhutan begins from July 29
The Dollar Business Bureau A new trade agreement between India and Bhutan has come into force from July 29. This was signed between the two countries on November 12, 2016. The move will further strengthen the bilateral trade ties between India and Bhutan an official communique read. ‘The agreement provides for a free trade regime between the countries and it also gives duty free transit of Bhutanese goods for trade with third countries,’ the Indian commerce ministry said in a statement. The bilateral trade relations are governed by this agreement. Renewal of this agreement was done on July 29, 2006 for ten years with its validity gaining an extension of a year on July 29, 2016, or till the new agreement comes into force. Bilateral ...
IMF urges governments to tackle record global debt of $152 trillion
The Dollar Business Bureau The International Monetary Fund (IMF) has expressed concern over the mounting level of global debts, which has already reached a record $152 trillion, thereby generating fresh risk of global economic and financial crisis. Cautioning that the debt level was on a continuous rise, the IMF exhorted the governments to stimulate growth through investments, fiscal and business reforms, and targeted measures to mitigate the probable global economic risks; ones that paralysed the world financial and economic system during the 2008-09 periods. "For a significant deleveraging to take place, restoring robust growth and returning to normal levels of inflation is necessary," it said. It noted in its half-yearly fiscal monitor research, covering 113 countries that global debt currently accounted for 225% of global ...
Govt passed 50% of fall in global oil price to people: Oil Minister
We have returned 50% of fall in international crude oil prices to consumers while we have kept the remaining 50% in government treasury and invested in other sectors like social sector, said Oil Minister Dharmendra Pradhan Source: PTI To have a balanced fiscal strategy, we have invested the money saved in farm sector, infrastructure sector and the health sector, says the Minister Government on Wednesday admitted it has onpassed the benefit of only 50% of the reduced international crude oil prices to the consumers and kept the remaining half for being invested in the social sector. With the Opposition in Rajya Sabha accusing the government of "appropriating" and "not passing" the benefit of fall in international crude oil prices to consumers, Oil Minister ...
