Search Result for : Maharashtra

The Dollar Business Bureau Malaysia has shown interest in the development of Mumbai-Nagpur expressway.  This was revealed to the media by the Maharashtra Public Works Department (PWD) Minister Eknath Shinde on Monday. A Malaysian delegation visiting the state called on Shinde and had discussions on the details of the 700 km long expressway which will connect the two major cities of Maharashtra. “India and Malaysia have a long-standing relation. Malaysia has taken part in various development projects in the country and has used its advanced technology to develop roads, flyovers and subways,” Shinde said, while speaking to the media at the Mantralaya after meeting the Malaysian delegation. The Minister said that the Malaysian government has shown keenness to be part of the road project ...

The Dollar Business Bureau The Central government has decided to procure 2 lakh tonnes of onion from Madhya Pradesh, to provide relief to the farmers of the state from declining prices of the crop. The wholesale prices of onion have sharply declined to less than Rs.6 per kg in Madhya Pradesh as production of the crop was higher during late Kharif season of crop year 2016-17 (July-June). “We have approved procurement of 2 lakh tonnes of onions under the Market Intervention Scheme (MIS) from Madhya Pradesh,” a senior official from the Agriculture Ministry remarked. The procurement of onion will be conducted by the Madhya Pradesh State Cooperative Marketing Federation Ltd (MP-Markfed) at Rs.5,867/tonne for fair and average quality (FAQ) of the crop with overhead costs of Rs.1,467/tonne or actual, whatever is below, added the ...

By Ranjeet Mahtani and Sweta Rajan During its meetings on May 18 and 19, 2017, the GST Council declared the placement of goods and services across the fixed GST rate slabs. The GST Council further released the list of goods liable for GST Compensation Cess along with the applicable rate of cess and released a list of services which would be liable to GST under the reverse charge mechanism. While the GST law empowers the Government to specify goods and services on which GST is payable by the recipient, the Council has approved only services that are likely to attract GST on reverse charge basis.  Rate specific issues The release of the GST rates has, as expected, triggered varying responses across industries. Some ...

The Dollar Business Bureau  The Ministry of Commerce has set timelines for the state governments of Andhra Pradesh, Tamil Nadu and Maharashtra to complete modalities and export procedure for Red Sanders wood.  Andhra Pradesh has been given time till April 30, 2019, whereas Tamil Nadu and Maharashtra have been allowed till August 31, 2018, for finalising the modalities and completion of the export process of this wood.  “Time upto August 31, 2018 has been allowed to the governments of Maharashtra and Tamil Nadu to finalise the modalities and complete the process of export of respective allocated quantity of Red Sanders Wood,” the Directorate General of Foreign Trade (DGFT) has said in a notification (No.08/2015-2020) issued on Tuesday.  Time till April 30, next year has ...

The Dollar Business Bureau Data from the Ministry of Commerce website showed that exports from SEZs grew by about 12% to Rs 5.24 lakh crore and attracted investments worth Rs 4.23 lakh crore in 2016-17. While the country’s overall exports recorded a growth of 16.23% in rupee terms. States like Tamilnadu, Telangana, Maharashtra and Karnataka have the highest number of SEZs operational in the country. The Government has approved as many as 421 zones till May 1, of these 218 of them are operational. SEZs all over India have generated employment for 17.31 lakh people. As a special provision to increase exports from SEZs, under GST, the government has decided to treat the supplies reaching the SEZs from the domestic market at par with ...

The Dollar Business Bureau Senior officials from Ikea have shared that the Swedish furniture-maker will double its India-sourcing from 318 million euros to 600 million euros by 2020. The company will also be commencing work on setting a second store in Navi Mumbai at an investment of Rs. 700 Cr. The company has purchased 23 acres in Navi-Mumbai to set up a store measuring 4.3 lakh sq ft. Once completed by mid of 2018, the store will stock nearly 10,000 products. A typical Ikea store spans 3.5 lakh square feet, ideally a plot size of 8-11 acres. So, there is space for more development on the Navi Mumbai store. Ikea in 2015 envisaged an investment of Rs. 1,800 Cr for 2-3 stores each ...

The Dollar Business BureauThe World Bank on Tuesday announced it is partnering with the Maharashtra government to deliver a proposed $1 billion assistance programme to develop urban transportation and climate resilient agriculture. "Over the last five years, the World Bank has invested over $1.4 billion in Maharashtra in urban transport, rural water supply and agriculture," World Bank CEO Kristalina Georgieva told the reporter, following her day-long visit to the megapolis. To experience the locals’ pain, the World Bank CEO travelled in a local train and discussed with the women passengers their everyday challenges and opportunities to improve the public transport system. "To meet the aspirations of Mumbaikars, some of whom I met today, the city will have to make massive investments in transport ...

Sairaj Iyer The Maharashtra state tourism department is focusing seriously on medical tourism and newer avenues such as fort-tourism. The state government’s top bureaucrat overseeing culture and tourism thinks medical tourism will double in two years and thereby become a formidable source of revenue. Valsa Nair Singh, IAS, Principal Secretary, Tourism & Culture with government of Maharashtra, thinks medical tourism will provide a new revenue channel for the state. She finds that the state has a great opportunity to improve upon visitor count in 2 years. “Medical tourism is possible. Thanks to the new relaxation in the e-medical visas segment, we hope that we can increase tourist-count from 2 lakhs to 5 lakhs in 2 years. To achieve this we are planning medical focused ...