Focus on improving railways infra for seamless traffic movement: Prabhu
The Dollar Business Bureau In order to create a proper logistics environment and seamless movement of traffic in the country, Ministry of Railways is focussing more to improve the railways infrastructure and also to speed-up the pace of infrastructure development, said Railways Minister Suresh Prabhu on Thursday. “Railway Ministry is focussing more on improving the infrastructure of Indian Railways to create a proper logistics and seamless movement of traffic,” said Prabhu at an event organised by ASSOCHAM in New Delhi. “Therefore, we have decided to create an infrastructure at much faster pace. Already we are creating infrastructure twice to speed than previous year and will increase every year,” he added. Citing the Ministry’s achievement, Prabhu said that his ministry has sanctioned around 16,500 ...
MEIS is being redesigned to make it GST compliant
The Dollar Business Bureau The Government of India is re-designing the Merchandise Exports from India Scheme (MEIS) in order to make it compliant with the upcoming new tax regime goods and services tax (GST), said a senior official on Wednesday. “The MEIS is being re-designed to make exports from India GST-compliant,” said Neeraj Prasad, Additional Commissioner, GST Cell, Central Board of Excise and Customs (CBEC), while addressing the Executive Committee Meeting of FICCI in New Delhi. Under the GST, the issue related to working capital requirements is being discussed upon by the Government, he added. The Ministry of Commerce provides duty benefits on various products under the MEIS. It offers duty benefits at 2%, 3% and 5% based on the product and ...
Motor Vehicle Agreement to be signed between four SAARC nations in July
The Dollar Business Bureau In a move to boost trade, SAARC members Bangladesh, Bhutan, India and Nepal are all set to sign a Motor Vehicle Agreement (MVA) called Bangladesh Bhutan India Nepal (BBIN MVA). Expected to be signed on July 15 by the Indian Minister for Road Transport and Highways Nitin Gadkari and his counterparts in Bhutan, Nepal and Bangladesh, the agreement is expected to provide seamless transit of passenger and cargo vehicles between the countries, thereby, making cross-border trade cost efficient. Once implemented, the agreement is expected to regulate passenger and cargo vehicular traffic between the four nations by reducing complexities and allowing the timely loading and unloading of goods at border crossing points. Finalised at a ...
