GST not going to affect textile business, Haryana CM
The Dollar Business Bureau Manohar Lal Khattar, the CM of Haryana said the Goods and Services Tax (GST) is not going to adversely affect the textile business. This comes after several textile traders and unions have gone on a strike against the imposition of GST. "Textile has been placed in the slab of 5% under the GST. Presently, there is an embedded tax of central excise duties of 3.38% and 2.8% of VAT on cotton yarn," he said. Therefore, the 5% tax on fabric is not going to put additional burden on textile, Khattar claimed. "Moreover, the cascading effect would be mitigated with the event of the GST and the net effective tax on fabric would be minimal," he said at a seminar on ...
Electronics clusters to be set up in 400 cities: Prasad
The Dollar Business Bureau Electronics and Information Technology Minister Ravi Shankar Prasad said on Wednesday that with a focus on the electronics manufacturing in the country, the Government of India has planned to establish electronics clusters in 400 cities and towns across India. The electronics manufacturing market in India would be around $400 billion by 2020, said Prasad while speaking at Pravasi Haryana Diwas 2017, in Gurugram (Haryana). The Minister praised the initiatives taken by Haryana’s Chief Minister of Manohar Lal Khattar and his government to encourage IT services in the state. He said that when he took over the charge of his Ministry, India’s exports were Rs.11,000 crore which now gone up to Rs.1,26,000 crore at the end of December 2016. Prasad further said that Indians are passionate about technology and ...
Hisar aerodrome to be developed as Integrated Aviation Hub
The Dollar Business Bureau The work to establish an integrated hub for aviation at Hisar will start this year during the golden jubilee celebrations of Haryana. Haryana’s 'Swarn Jayanti' celebrations will start on November 1, 2016 and continue till October 31 2017. Haryana became a separate state in the year 1966. “The state-of-the-art aviation hub would be developed over an area of over 3,000 acres. The central government has been urged to include Hisar and Karnal in the Regional Connectivity Scheme which would come into effect in the second quarter of 2016-2017,” Rao Narbir Singh, Haryana's Civil Aviation Minister, said on Tuesday. In the first phase of the project, a series of activities is to be undertaken ...
PPP framework needs to be made investor-friendly: Piyush Goyal
The PPP model of development was first coined by the Prime Minister who had sought public participation in achieving the countrys developmental goals The Dollar Business Bureau PPP will be the engine in growth in the infrastructure sector and together we will have to evolve the right regulatory framework which should be simple and predictable: Goyal The government on Tuesday reiterated the need to restructure the public-private partnership (PPP) framework to make it more investor-friendly. PPP model has tremendous potential and the Prime Minister Narendra Modi had spoken about adding people perspective to it. So, now it has become Public-Private-People Partnership, said Piyush Goyal, Minister of State (IC) for Power, Coal and New & Renewable Energy,while addressing the Haryana Global Investors Summit on ...
