Economy

The government seeks Parliament approval for its proposal to enhanced bank recapitalization with Rs.65,000 crore to Rs.106,000 crore in the current financial year to propel economic growth, cementing India’s position as the fastest growing economy of the world.

Institutional framework, road map and budgetary outlay are being finalized of the first prototype of the 14 Coastal Economic Zones (CEZs) that have been proposed under the National Perspective Plan (NPP) of Sagarmala Programme.

Andersen Global from San Francisco has expanded presence in India as part of a broader strategy to increase footprint in the region.

In a bid to tap into the 50 million Indian tourist market by 2020, Paris-listed Europcar Mobility Group has formed strategic Alliance with ECO Rent a Car in India.

The Commerce Ministry is working on a comprehensive strategy to boost the Micro, Small and Medium Enterprise (MSMEs) sector by granting new patents in record time.

The National Institution for Transforming India (NITI Aayog) has defined clear objects for 2022-23 in its comprehensive national Strategy for New India.

Bajaj Allianz General Insurance Company Limited (BAGIC) has selected Majesco Distribution Management for the incentive and reward management for their employees, said the Navi Mumbai-based Majesco Ltd.

The applicability of GST in the Indian taxation system was a move aimed towards ‘one nation, one tax’. Post land abetment, the applicable GST for under-construction properties was 12% while ready-to-move-in flats were kept out of the GST ambit.

Turkey’s Minister for Trade Ruhsar Pekcan hopes a Free Trade Agreement (FTA) between her country and India could be finalised soon to ensure sustainability in trade relations.

The Indian electronic-commerce (e-commerce) market was US$38.5 billion in 2018-19, a strong increase of 17% on 2017-18’s US$33 billion, according to a review by the National Association of Software and Services Companies (NASSCOM).