Indian IT firms to fund US computer education programme
The US government will provide $4 billion in funding for states, and $100 million for districts to increase access to computer education. The Dollar Business Bureau Bank of Queensland is FinnOnes first customer in Australia Indian IT majors Infosys and Tata Consultancy Services (TCS) along with other corporate giants like Google and Microsoft have pledged funding the US governments plan to promote computer science education at school level. President Barack Obama announced his Computer Sciences for All plan on Sunday. Under the scheme, the government will provide $4 billion in funding for states, and $100 million for districts in the forthcoming Budget to increase access to computer education by training teachers, expanding access to high-quality instructional materials, and building effective regional partnerships. Infosys ...
Indias GDP likely to expand 7.9% in FY'17: Ind-Ra
The Dollar Business Bureau Driven by factors like focus on ‘make in India’ and improving ease of doing business, India’s gross domestic product (GDP) is likely to expand by 7.9% in the next financial year, more than 7.4% in the current fiscal, India Ratings and Research (Ind-Ra) has projected. The country’s all three broad production sectors—agriculture, industry and services— are expected to grow in FY17, although gradually. “This will make India the fastest growing major economy in the world”, the agency said. “While agriculture might get a boost from a normal monsoon in 2016, industry will benefit from (i) various announcements made in the FY15 and FY16 budgets to address the structural issues plaguing industrial/infrastructure sector, (ii) focus on ‘Make ...
CCI to tweak rules to ease merger and acquisition process
The Dollar Business Bureau Fair trade regulator Competition Commission of India (CCI) will soon come out with changes in its rules to ease the process of mergers and acquisitions (M&As) and reduce the time for clearing such deals to 30 days. Experts are already working on a fresh set of regulations which is expected to be put in place by the end of December. “We are actively and quickly reviewing regulations, we have called for comments from some of the law firms which have been filing with us and I think before this year ends, which is in the next few days and 2016 starts, we will make further changes on things which have been bothering companies in terms of authorised ...
Govt begins consultation to seek industry views on tax policy
Source: PTI Hasmukh Aadhia, Revenue Secretary, has started holding detailed meetings from Tuesday onwards with industry and business representatives of major national chambers as well as with the representatives of different sectors in order to generate new ideas for tax policy reforms for the next budget. The Ministry of Finance is quite conscious of the fact that tax policy could be used as an important instrument of enhancing the speed of economic growth of the country and therefore, it is important to have proper stakeholder consultation out of box thinking. This is an attempt in that direction. The first such meeting was held in New Delhi on Tuesday with the Confederation of Indian Industry (CII) delegation consisting of Naushad Forbes, President, ...
Centre De-notifies 10 Hectare Of SEZ Land For Biotech, Pharma Sector
Dated 11th September, 2015 | Copy Of | Notification No. SL. 35 Whereas, M/s. Serum Bio-pharma Park, a Private Organization of the State of Maharashtra, had proposed under section 3 of the Special Economic Zones Act, 2005 (28 of 2005), (hereinafter referred to as the said Act) to set up a sector specific Special Economic Zone for biotech and pharmaceuticals sector at village Hadapsar/Manjri, Village, District-Pune in the State of Maharashtra; And, whereas, the Central Government, in exercise of the powers conferred by sub-section (1) of section 4 of the said Act read with rule 8 of the Special Economic Zones Rules 2006, had notified an area of 23.1793 hectares at above Special Economic Zone vide Ministry of Commerce and Industry Notification Number S.O. 1833(E) dated 29th December, ...
GST logjam disappointing, consider national interest: Maruti
Source: PTI Joining the chorus of industry leaders disappointed by stalemate on GST, Maruti Suzuki India Chairman RC Bhargava on Friday said political establishment must "re-look at measures" that are clearly in national interest. "I am sure people at large, who are concerned about the economy, will be very disappointed that due to purely political reasons, with no clear economic considerations being apparent, the GST (Goods and Service Tax) has not been approved," he said addressing shareholders at the company's annual general meeting in New Delhi. He further said: "I think that is very disappointing and as industry we believe that the entire political establishment must re-look at measures, which are clearly in national interest." Commenting on the land bill, he said ...
'Government must regulate import of natural rubber to protect domestic industry
The Dollar Business Bureau The government should regulate the import of natural rubber during peak season through designated ports and must ensure quality check to protect the domestic industry, a parliamentary panel has said. “Imports should be need based and the quantum of imports may be determined on the basis of the gap between the domestic production and consumption,” said the parliamentary standing committee in its report presented in the parliament on Thursday. Expressing concern over steep fall in the price of natural rubber, the panel asked for an immediate intervention from the government. “Unless the necessary measures are taken, there is a possibility of growers shifting to other crops,” it said. The panel also took note of the challenges faced ...
IT, auto sectors brought in $3 billion FDI in two months
Source: PIB, Government of India The sector-wise information on FDI equity inflow received during Financial Year 2015-16 (upto May, 2015) is as below: S.No Sector Amount of FDI Inflows (In Rs crore) (In US$ million) 1 COMPUTER SOFTWARE & HARDWARE 14,428.43 2,273.13 2 AUTOMOBILE INDUSTRY 6,355.14 1,006.84 3 TRADING 4,186.78 663.47 4 SERVICES SECTOR (Fin.,Banking,Insurance,Non Fin/Business,Outsourcing,R&D,Courier,Tech. Testing and Analysis, Other) 3,091.15 488.06 5 CONSTRUCTION (INFRASTRUCTURE) ACTIVITIES 2,357.32 373.90 6 TELECOMMUNICATIONS 2,320.27 363.75 7 SEA TRANSPORT 1,147.55 182.33 8 HOSPITAL & DIAGNOSTIC CENTRES 1,028.20 163.27 9 DRUGS & PHARMACEUTICALS 1,010.25 158.66 10 HOTEL & TOURISM 999.91 157.58 11 POWER 976.37 154.82 12 CHEMICALS (OTHER THAN FERTILIZERS) 951.44 149.96 13 SOAPS, COSMETICS & TOILET PREPARATIONS 830.78 132.35 14 MISCELLANEOUS INDUSTRIES 697.42 110.29 15 ELECTRICAL EQUIPMENTS 681.29 107.82 16 TEXTILES (INCLUDING DYED,PRINTED) 570.26 90.54 17 RUBBER GOODS 484.38 76.72 18 METALLURGICAL INDUSTRIES 466.99 73.80 19 EDUCATION 464.29 73.77 20 INFORMATION & BROADCASTING (INCLUDING PRINT MEDIA) 454.23 71.55 21 NON-CONVENTIONAL ENERGY 449.26 71.06 22 INDUSTRIAL MACHINERY 413.47 65.44 23 FOOD PROCESSING INDUSTRIES 373.96 59.02 24 MISCELLANEOUS MECHANICAL & ENGINEERING INDUSTRIES 353.84 56.04 25 ELECTRONICS 353.58 55.55 26 EARTH-MOVING MACHINERY 276.28 44.02 27 PRINTING OF BOOKS (INCLUDING LITHO PRINTING INDUSTRY) 189.67 30.00 28 CONSULTANCY SERVICES 185.82 29.29 29 MEDICAL AND SURGICAL APPLIANCES 150.20 23.90 30 DIAMOND,GOLD ORNAMENTS 114.21 17.91 31 TIMBER PRODUCTS 102.97 16.14 32 CERAMICS 101.05 16.10 33 PRIME MOVER (OTHER THAN ELECTRICAL GENERATORS) 101.26 15.87 34 SUGAR 90.00 14.34 35 VEGETABLE OILS AND VANASPATI 78.37 12.28 36 CEMENT AND GYPSUM PRODUCTS 57.20 9.12 37 RAILWAY RELATED COMPONENTS 41.05 6.54 38 AGRICULTURE SERVICES 37.64 5.99 39 PETROLEUM & NATURAL GAS 31.35 5.00 40 LEATHER,LEATHER GOODS AND PICKERS 31.34 4.98 41 MACHINE TOOLS 22.18 3.51 42 INDUSTRIAL INSTRUMENTS 21.97 3.44 43 AIR TRANSPORT (INCLUDING AIR FREIGHT) 21.57 3.39 44 COMMERCIAL, OFFICE & HOUSEHOLD EQUIPMENTS 16.27 2.59 45 PAPER ...
