Indian Economy-News & Updates
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Star Wars
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lol, wonder how the AAPtards are going to wiggle around this news....
So far the Bookies are rooting for NDA.....
Over Rs 1 lakh crore committed for Tamil Nadu at global investors meet: Jayalalithaa - The Economic Times
Batting for more investment in her state, Jayalalithaa referred to her various pro-industry initiatives and said that "a total investment in infrastructure of $250 billion is planned".
"These are not idle promises or mere ideas. Implementation of 84 of the 217 projects and programmes identified under the 'Vision Tamil Nadu-2023' has already commenced," she said.
She also lauded Prime Minister Narendra Modi's initiatives on the economic front, saying the "investor-friendly initiatives will enthuse" the businesses planning to invest in Tamil Nadu. "The Honourable Prime Minister has spearheaded many recent initiatives to create a more investor-friendly climate and encourage more Foreign Direct Investment," she said.
Union Commerce Minister Niramala Sitharaman, who delivered the special address at the event, hailed Tamil Nadu as an investor-friendly state with huge opportunities that are waiting to be tapped.
Jayalalithaa for her part urged Sitharaman to expedite clearances at the central level for the investments proposed in the GIM.
...
The inauguration was attended by several corporate heavyweights, including FICCI President Jyotsna Suri, Shiv Nadar of HCL, Anand Mahindra of Mahindra and Mahindra and Venu Srinivasan of Sundaram Clayton, besides Union Minister of State, Pon Radhakrishnan. Ambassadors, high commissioners and delegations from countries like Australia, Canada, Japan, Korea, France, Italy, the UK, Singapore and Russia, too, are taking part in the two- day event.
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A little bit happy that some of the talk has shifted from stupid freebies to stuff like growth,industries etc again in the last few months. Although freebies wont probably go away anytime soon. Also the power situation is nearly back to normal now, and that was one of the major causes for the slowdown.
Batting for more investment in her state, Jayalalithaa referred to her various pro-industry initiatives and said that "a total investment in infrastructure of $250 billion is planned".
"These are not idle promises or mere ideas. Implementation of 84 of the 217 projects and programmes identified under the 'Vision Tamil Nadu-2023' has already commenced," she said.
She also lauded Prime Minister Narendra Modi's initiatives on the economic front, saying the "investor-friendly initiatives will enthuse" the businesses planning to invest in Tamil Nadu. "The Honourable Prime Minister has spearheaded many recent initiatives to create a more investor-friendly climate and encourage more Foreign Direct Investment," she said.
Union Commerce Minister Niramala Sitharaman, who delivered the special address at the event, hailed Tamil Nadu as an investor-friendly state with huge opportunities that are waiting to be tapped.
Jayalalithaa for her part urged Sitharaman to expedite clearances at the central level for the investments proposed in the GIM.
...
The inauguration was attended by several corporate heavyweights, including FICCI President Jyotsna Suri, Shiv Nadar of HCL, Anand Mahindra of Mahindra and Mahindra and Venu Srinivasan of Sundaram Clayton, besides Union Minister of State, Pon Radhakrishnan. Ambassadors, high commissioners and delegations from countries like Australia, Canada, Japan, Korea, France, Italy, the UK, Singapore and Russia, too, are taking part in the two- day event.
================
A little bit happy that some of the talk has shifted from stupid freebies to stuff like growth,industries etc again in the last few months. Although freebies wont probably go away anytime soon. Also the power situation is nearly back to normal now, and that was one of the major causes for the slowdown.
Nilgiri
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You living in TN right now?... and if so which part may I ask?
I agree with your distaste of the freebies. What to do, the masses are expecting it each time since such excessive nonsense was first established as the "norm" by all DK successor parties.
Star Wars
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Indirect tax collections up 36.2 per cent in August | Business Line
NEW DELHI, SEPTEMBER 9:
The Centre’s indirect tax collections grew 36.2 percent in August, reaffirming the Government view that economy was on the mend, a top Finance Ministry official said.
For the April-August 2015 period, indirect tax collections grew 36.5 percent, much higher than the asking rate of 18.8 percent for entire 2015-16, Chief Economic Advisor Arvind Subramanian said on Wednesday.
"The recent Q1 GDP data (7 percent economic growth) and now the latest indirect tax revenues for August is clear pointer that economy is recovering", Subramanian told reporters here.
Even if one were to exclude the additional revenue measures (excise increase in petrol and diesel, swachh bharat cess, removal of exemption on automobile etc), the overall indirect tax collections for April-August grew 12.2 percent, he said.
For the April-August period, all the three categories—excise duty, customs and service tax—recorded double digit growth, he said.
NEW DELHI, SEPTEMBER 9:
The Centre’s indirect tax collections grew 36.2 percent in August, reaffirming the Government view that economy was on the mend, a top Finance Ministry official said.
For the April-August 2015 period, indirect tax collections grew 36.5 percent, much higher than the asking rate of 18.8 percent for entire 2015-16, Chief Economic Advisor Arvind Subramanian said on Wednesday.
"The recent Q1 GDP data (7 percent economic growth) and now the latest indirect tax revenues for August is clear pointer that economy is recovering", Subramanian told reporters here.
Even if one were to exclude the additional revenue measures (excise increase in petrol and diesel, swachh bharat cess, removal of exemption on automobile etc), the overall indirect tax collections for April-August grew 12.2 percent, he said.
For the April-August period, all the three categories—excise duty, customs and service tax—recorded double digit growth, he said.
Star Wars
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Star Wars
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NEW DELHI: The road transport and highways ministry will add nearly 50,000 km of roads to the National Highways (NH) network in the country in the next six months. This addition within two years of the Narendra Modi government will be more than twice the length NDA-I had added in its six years and over three times of what UPA added in its 10-year rule.
READ ALSO: Govt to take national highways length to 1.5 lakh km by December
Sources said in the past 15 months, the new government has added about 7,000 km of roads to the NH length and at present it's little more than one lakh km. Road transport and highways minister Nitin Gadkari has announced to take it to 1.5 lakh km by this year end.
Between 1998 and 2004 when the NDA was in power, about 23,814 km was added to the NH network and during the 10-year rule of the UPA government, a total of around 18,000 km were designated as NH.
On how the ministry is now going about including more stretches as NH, an official said, "While process of notification to include about 15,000 km under Bharat Mala and joining backward areas in the NH network is under way, we are carrying out feasibility study for large chunk of stretches that states have forwarded for upgrading them as NHs. This would be about 20,000 km."
Sources said adding length is crucial to maintain the pace of award, which has been increased to about 30 km a day. Putting its focus to accelerate highway construction as growth multiplier, the Modi government plans to continue this high target of award of works for 3-4 years. "Moreover, ideally most of the major roads connecting districts, upcoming business hubs and even religious and tourist places should be connected with at least two-and-half lane roads," a ministry official said.
However, there is also a flip side to it. Converting more stretches of state highways or major district roads to NHs will increase burden on the Central budget as states will stop spending on maintenance of these stretches as soon as the corridors are notified as NHs.
Some of the officials said the situation won't get out of government control as most of the stretches being expanded now are on a model named "EPC contracts". Under this, the contractor has to maintain the road for one year and is also responsible for any defect for four years. "So, there will be almost no government outgo for maintenance and all these stretches will be under the toll mode. The contractor who gets the work will maintain the stretches. The amount saved can be utilized for maintaining new stretches," the official said.
National highways to grow by 50,000km in 6 months - The Times of India
READ ALSO: Govt to take national highways length to 1.5 lakh km by December
Sources said in the past 15 months, the new government has added about 7,000 km of roads to the NH length and at present it's little more than one lakh km. Road transport and highways minister Nitin Gadkari has announced to take it to 1.5 lakh km by this year end.
Between 1998 and 2004 when the NDA was in power, about 23,814 km was added to the NH network and during the 10-year rule of the UPA government, a total of around 18,000 km were designated as NH.
On how the ministry is now going about including more stretches as NH, an official said, "While process of notification to include about 15,000 km under Bharat Mala and joining backward areas in the NH network is under way, we are carrying out feasibility study for large chunk of stretches that states have forwarded for upgrading them as NHs. This would be about 20,000 km."
Sources said adding length is crucial to maintain the pace of award, which has been increased to about 30 km a day. Putting its focus to accelerate highway construction as growth multiplier, the Modi government plans to continue this high target of award of works for 3-4 years. "Moreover, ideally most of the major roads connecting districts, upcoming business hubs and even religious and tourist places should be connected with at least two-and-half lane roads," a ministry official said.
However, there is also a flip side to it. Converting more stretches of state highways or major district roads to NHs will increase burden on the Central budget as states will stop spending on maintenance of these stretches as soon as the corridors are notified as NHs.
Some of the officials said the situation won't get out of government control as most of the stretches being expanded now are on a model named "EPC contracts". Under this, the contractor has to maintain the road for one year and is also responsible for any defect for four years. "So, there will be almost no government outgo for maintenance and all these stretches will be under the toll mode. The contractor who gets the work will maintain the stretches. The amount saved can be utilized for maintaining new stretches," the official said.
National highways to grow by 50,000km in 6 months - The Times of India
Star Wars
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Power to all households of Odisha in 18 months: Piyush Goyal - timesofindia-economictimes
Income Tax refunds to be sent to taxpayers in 7-10 days - The Economic Times
How long does it usually take ?
Finance Ministry audits find 'serious irregularities' in ministries - The Economic Times
When was the last time such an Audit took place ?
MP village adopted by Javdekar sees major development under Sansad Adarsh Gram Yojana - The Economic Times
Not given any clearances on imports of Chinese crackers: Government - The Economic Times
Happy Diwali for local sellers....
Income Tax refunds to be sent to taxpayers in 7-10 days - The Economic Times
How long does it usually take ?
Finance Ministry audits find 'serious irregularities' in ministries - The Economic Times
When was the last time such an Audit took place ?
MP village adopted by Javdekar sees major development under Sansad Adarsh Gram Yojana - The Economic Times
Not given any clearances on imports of Chinese crackers: Government - The Economic Times
Happy Diwali for local sellers....
Star Wars
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@Darmashkian AP ranks 2 in EoDB , telengana no where in sight 
http://dipp.nic.in/English/Investor/Ease_DoingBusiness/StateAssessmentReport_14September2015.pdf
http://dipp.nic.in/English/Investor/Ease_DoingBusiness/StateAssessmentReport_14September2015.pdf
Darmashkian
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@Darmashkian AP ranks 2 in EoDB , telengana no where in sight
http://dipp.nic.in/English/Investor/Ease_DoingBusiness/StateAssessmentReport_14September2015.pdf
Aspiring Leaders: States with an overall implementation status between 50% and 75%. 7 States were found to be within this group: Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Madhya Pradesh, Odisha and Rajasthan.
Acceleration Required: States with an overall implementation status between 25% and 50%. 9 States were found to be within this group: Delhi, Haryana, Karnataka, Maharashtra, Punjab, Tamil Nadu, Telangana, Uttar Pradesh and West Bengal
Not surprised with the position of AP.. No.2 is very good in such a short span of time
seeing that gujarat is no.1 after 10 years of Modi, am sure that after 5-10 years of CBN AP can be no.1 Add to that Telugu people have a good entrepreneurial nature & especially the Kamma caste(whom CBN belongs to),tho
But very surprised & disappointed seeing that TG is no. 13.. shows that despite all the big talk made by KCR & KTR about encouraging entrepreneurship & startups; opening startup incubation centres, nothing great has happened so far.
The same thing is with the most of their schemes of TG govt.
Well atleast it could have been worse then it already is
Star Wars
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