News on Indian Economy
The idea was first mooted by Prime Minister Narendra Modi and will help tackle the problem of agricultural land being diverted for such projects. Accordingly, a 30km long and 20km wide parcel of land has been identified along the border in Kutch district of Gujarat and stretches along the border in Bikaner, Barmer and Jaisalmer districts of Rajasthan.
As per the latest report by independent brand valuation consultancy Brand Finance, India has jumped to seventh position from 9th last year, after recording a solid 19 per cent growth in brand value to USD 2.6 trillion.
The commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has started the probe to see whether the subsidy programmes of Malaysia for exports of clear float glass is impacting domestic industry.
While PFZ Advisories provide information on the probable locations on fish aggregation in the seas, OSF provide the accurate state of the ocean. The Minister pointed out that “Ocean State Forecasts include the forecasts on winds, waves, ocean currents, water temperature, etc. at every 6 hours on daily basis for next 5 days helping fishermen in maximizing their earnings, ensuring safety and in planning of fishing activities”.
Currently, both the countries are focussing on trade and India is China’s largest trading partner in South Asia and the Indian companies are expanding in the Chinese market with a cumulative investment of nearly $1 billion.
The acquisition is also expected to deliver the considerable synergies for the growth of lamp business India and enhance Minda’s product offerings to original equipment manufacturers (OEMs).
Shri Pandey said that with the launch of National e-Assessment Centre (NeAC), the Income Tax Department will usher in a paradigm shift in its working by introducing faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process. He said that with NeAC, there would be no physical interface between the taxpayers and the tax officers.
“In the five year long second phase, the programme will be scaled up in size and coverage and will be introduced in five additional countries, namely Mali, Ghana, Togo, Zambia and Tanzania. The Cotton TAP programme will now cover 11 African countries including the C4 (Benin, Burkina Faso, Chad and Mali),” an official statement said.
The development marks an important breakthrough in India’s efforts to track down black money stashed abroad. India is amongst 75 countries with which Switzerland’s Federal Tax Administration (FTA) has swapped intelligence on the financial details of people.
The Mongol refinery project is the largest project undertaken by the government of India under its Lines of Credit (LoC) programme and is expected to cut some of Mongolia’s fuel import dependence. The petrochemical refinery to be built at an approximate cost of $1.25 billion utilising the $1.236 billion line of credit from India comes in the backdrop of China’ Belt and Road Initiative (BRI).
