Search Result for : Reforms

The Dollar Business Bureau India according to Moody’s Investors Service is implementing extensive reforms, which if successful would gradually ease the government’s high debt burden and turn its credit profile positive. The reforms and the financial changes that the government has introduced, would according to the Moody’s ease its high financial burdens.  In its just-released report, titled, “Government of India: Effective Implementation of Key Fiscal and Banking Sector Reforms Would Address Core Credit Challenges.” The report focusses mainly on 3 key reforms: The Goods and Services Tax (GST), the NPA resolution measures and the Fiscal Responsibility and Budget Management Act (FRBM) Committee recommendations.  On GST, Moody's opines that the “short-term impact of GST reforms may not be visible, but its long-term benefits will include ...

The Dollar Business Bureau Israel wants India to further ease the process of doing business and offer a more investor- friendly environment to its companies, an issue that may come up for discussion during PM Narendra Modi’s upcoming visit to the country. Israeli sources said the Jewish country is optimistic on further progress on a Free-Trade Agreement (FTA) with India. The two countries have had eight rounds of discussions on FTA till now. An FTA will help Israeli companies in their business activities in India, the source said. From $200 million in 1992 (comprising primarily trade in diamonds), the bilateral merchandise between the two countries reached $5.19 billion in 2011. However, it stagnated around $4-4.5 billion with bilateral trade (excluding defence) for 2015 being $ 4.14 ...

Sairaj Iyer Given the turn of surprising events during the day, there was an air of anticipation and excitement at the meet where former Finance Minister P Chidambaram spoke at length about India's economic growth, demonetization, reforms and taxes, simplifying taxes for commerce, anti-globalization, and many other economic issues and challenges that plague India and other countries. During the question and answer session, when asked what stood in the way of India's rapid economic growth, he said, in the background of demonetization, Trump's anti-globalization rhetoric, Brexit and sagging exports, 'it is the lack of focus on essential pillars such as taxes, bureaucracy, the creation of jobs and infrastructure'. The former Finance Minister was at his legal best using examples as reference points, ...

Sairaj Iyer Given the turn of surprising events during the day, there was an air of anticipation and excitement at the meet where former Finance Minister P Chidambaram spoke at length about India's economic growth, demonetization, reforms and taxes, simplifying taxes for commerce, anti-globalization, and many other economic issues and challenges that plague India and other countries. During the question and answer session, when asked what stood in the way of India's rapid economic growth, he said, in the background of demonetization, Trump's anti-globalization rhetoric, Brexit and sagging exports, 'it is the lack of focus on essential pillars such as taxes, bureaucracy, the creation of jobs and infrastructure'. The former Finance Minister was at his legal best using examples as reference points, ...

The Dollar Business Bureau To boost investment environment and attract more foreign investment in the country, the government on Tuesday brought in a set of reforms related to FDI in 15 major sectors, including defence, manufacturing and e-commerce. “The crux of these reforms is to further ease, rationalise and simplify the process of foreign investments in the country and to put more and more FDI proposals on automatic route instead of government route where time and energy of the investors is wasted,” the Ministry of Commerce said in a statement. As per the revised FDI policy in the Defence sector, foreign investment above 49% will be allowed subject to approval of the Cabinet Committee on Security (CCS) on case to case ...

Source: PTI With India jumping 12 positions to rank 130th in the world on ease of doing business, Indian Finance Minister Arun Jaitley on Wednesday said the improvement in ranking does not fully reflect the reforms initiated and the position will improve further next year. “I am grateful that the World Bank has recognised that India is now becoming an easier place to do business... I believe that this 12 point movement does not reflect the full pace of reforms that we have done,” he said. “A large number of steps which we have already taken are going to be reflected in the rankings next year. These rankings are only up to June 1 and some of those steps, whose impact ...

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, ...

Source: PTI Prime Minister Narendra Modi with the leading Fortune 500 CEOs, at a special event in New York on September 24, 2015.   Top American CEOs have sought “additional steps” to speed up economic reforms in India, to which Indian Prime Minister Narendra Modi promised to fast-track the decision-making process as he asked them to take advantage of the huge opportunities of investing in the country. “Please continue to do more what you are doing. May be slightly faster,” the 42 CEOs of American companies with collective net worth of $4.5 trillion, told the Prime Minister. “By and large the mood was very upbeat. There is general consensus that the Prime Minister is effecting change in India. The only thing ...