Yet another satellite to be launched by India on May 5
The Dollar Business Bureau Come Friday, and India will launch a Satellite from the Sriharikota base. The South Asian Satellite is intended to be used for the South Asian Association of Regional Cooperation (SAARC). It will be launched on 5th May, the Prime Minister informed listeners during his Mann ki Baat Radio address on Sunday and the facilities it would offer to the region. Modi referred to the satellite as one in line with the inclusive development-spirit of the ‘Sabka Saath, Sabka Vikas’ concept. He was quoted in the official PMO website as saying, “It (Sabka Saath, Sabka Vikas) is not limited to the confines of India. It applies to the global context too. And very specially to our neighbouring countries. May our neighbouring countries ...
We want withdrawal limit to be 10% of turnover: Leather Industry
Aamir H Kaki & Ahmad Shariq Khan The labour-intensive sectors are majorly affected by the demonetisation move of the government. Leather and footwear sector is among the labour-intensive sectors which is also feeling the heat of the government’s move aimed at curbing black money. Added to that, the cash withdrawal limit of Rs.50,000 a week is not seen by many as a suitable threshold that could facilitate their day-to-day operations, including the worker’s payments. Rajiv Wasan, General Secretary, Agra Footwear Manufacturers and Exporters Chambers (AFMEC) spoke to The Dollar Business on the concerns about the demonetisation and their association’s demand for increasing the cash withdrawal limit for leather products exporters as well as manufacturers. He informed that the AFMEC has sent a letter to the ...
Niti Aayog submits roadmap to PMO for PSU reforms
The Dollar Business Bureau To initiate improvements in public sector units (PSUs), a roadmap reform has been submitted by NITI Aayog to the Prime Minister's Office (PMO). This is with regard to the closing and strategic sale of government shareholdings in some earmarked PSUs. “NITI Aayog has provided two different lists of public sector companies - one is that of sick companies which are in the list-of-probables for closure and the second is of companies which should be divested,” a source said. Through a strategic sale, the government will reduce its stake to 49 percent or less in these PSUs, the source added. In his Budget speech 2016-17, Finance Minister Arun Jaitley had referred to the sales of PSUs that NITI Aayog will undertake. In line with that ...
Miners approach PMO on removing export duty
The industry body says that prices of iron ore with Fe content of 56% have nose-dived from $119 per tonne FOB in January 2011 to $21 a tonne in Nov 2015 Source: PTI Goa Mineral Ore Exporters Association has written to the Prime Ministers Office urging it to remove the 10% export duty on iron ore fines with Fe content below 58% and the 30% export duty on iron ore lumps A mineral ore exporters body from Goa has approached the PMO seeking removal of export duty on iron ore, saying it will help in higher revenues of $750 million a year. Industry body GMOEA has written to the Prime Ministers Office urging it to remove the 10% export duty on iron ore ...
PM reviews projects, calls for focus on rural infrastructure
The Dollar Business Bureau In a move to review the ongoing infrastructure-related projects in the country, the Prime Minister of India, Narendra Modi, recently chaired a high-level meeting focused at development of infrastructure sectors. In the review meeting, which witnessed the deliberations on overall status of the country’s infrastructure sector, a special focus was also laid on specific sectors like rural infrastructure, power, coal, renewable energy and petroleum and natural gas, among others. The Prime Minister, who reviewed the status of currently-stalled projects under infrastructure sector and other sectors, was given a detailed overview of the plans of various Ministries towards completion of pending projects within the current financial year. Besides this, the Prime Minister was also informed about ...
