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Measures Proposed for Skill Development and Augmenting Funds for SMEs Turnover Limit for Compulsory Tax Audit Raised to Rs. One Crore
- March 16, 2012
- By India Current Affairs
- Industry
- no comments
In order to augment funds for SMEs (Small and Medium Enterprises),theUnion Finance Minister Shri Pranab Mukherjee, in the General Budget 2012-13presented in LokSabha here today, has proposed to exempt capital gains tax on sale of a residential property, if the sale consideration is used for subscription in equity of a manufacturing SME company for purchase of new plant and machinery. Further, considering the shortage of [...]

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Economic Survey Pegs Industrial Growth at 4-5% in the Current Financial Year Survey Calls for Boosting of Business Sentiments, Encouraging Investment and Identifying Bottlenecks Industrial Sector Expected to Rebound During Next Financial Year
- March 15, 2012
- By India Current Affairs
- Industry
- no comments
The Economic Survey 2011-12 tabled in the Lok Sabha here today by the Finance Minister, Shri Pranab Mukherjee has projected the industrial-sector growth during the current financial year to be between 4 to 5%. At this rate, says the Survey the annual growth rate will be less than the annual growth rates achieved in the recent past and far below [...]

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India should take lead in energising BIMSTEC: ASSOCHAM
- March 10, 2012
- By India Current Affairs
- Industry
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With a gloomy economic scenario worldwide, BIMSTEC countries should knock down trade barriers and evolve frameworks to promote intra-regional trade and investments in various sectors, various diplomats said. India has the potential to take lead and provide a new meaning to the BIMSTEC engagement that has potential of generating trade worth 43 to 59 billion dollars under a proposed free [...]

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COAL WAGE AGREEMENT A Charter for Dignity and Self Respect – Jibon Roy
- March 10, 2012
- By India Current Affairs
- Industry
- no comments
The All India Coal Workers’ Federation have the reason to believe that NCWA-IX have brought sufficient amount of satisfaction to Coal Workers. Its biggest success has been, it could bring some light of hope for the contractor worker who are considered to be weakest link in the trade union movement in the coal industry and some satisfaction for post retirement [...]

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Hike rail fares to modernise fund starved Railways, tone up infrastructure
- March 7, 2012
- By India Current Affairs
- Industry
- no comments
ASSOCHAM advocated increase in rail passenger fares for all classes ranging from Rs 10 to 100 for capacity expansion, modernisation and building infrastructure which will require Rs 14 lakh crore over the next ten years. The organisational structure should be redesigned for customer care and resource generation, increasingly become self-sufficient over the next 10 to 15 years and provide good [...]

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Holi colour and accessories industry likely to reach Rs 12K crore: ASSOCHAM ; Markets flooded with Holi accessories made in China
- March 7, 2012
- By India Current Affairs
- Industry
- no comments
Growing at a compounded annual growth rate (CAGR) of about 20 per cent, the Holi colour and accessories industry is likely to reach Rs 12,000 crore this year, apex industry body ASSOCHAM said. Spurred by rising demand for herbal and perfumed colours the Holi colour industry is likely to reach Rs 4,500 crore this year, according to an analysis of [...]

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Marine Product Exports Grows 18.72% During April – December 2011-12
- February 28, 2012
- By India Current Affairs
- Industry
- no comments
Export of Marine Products during April – December of 2011 of the current fiscal has indicated a positive growth in terms of both quantity and value. The exports registered a growth of 1.48% in quantity, 21.68% in rupee value and 18.72% in US $ realization compared to the same period last year. The unit value realization also improved by 16.98%. The [...]

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NSIC – Nurturing the MSME Sector – Ruby T. Sharma
- February 24, 2012
- By India Current Affairs
- Industry
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The National Small Industries Corporation Ltd., a Public Sector Undertaking under the administrative control of the Ministry of Micro, Small and Medium Enterprises was established in 1955. NSIC has been engaged in promoting, aiding and fostering the growth and development of MSMEs in the country. To enhance the competitiveness of MSMEs, integrated support through marketing, technology, credit and support services [...]

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Comic Con 2012: children, comics drifting apart
- February 19, 2012
- By India Current Affairs
- Industry
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The second “Comic Con India” opened with fanfare at the capital’s Dilli Haat Friday. The event showcased a huge range of heroes, both new and old, from Chacha Chaudhary to Munkeeman. But the children who were once the biggest lovers of comics were largely absent. Acclaimed film-maker and creator of Munkeeman, Abhishek Sharma agreed that more children were now increasingly [...]

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Petrochemical capacity set to grow by 12 to 15 per cent: ASSOCHAM
- February 17, 2012
- By India Current Affairs
- Industry
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The growth rate of 40 billion dollar Indian petrochemical capacity is expected to range between 12 to 15 per cent in the next five to seven years with millions of new jobs being generated, ASSOCHAM said . In recent years, the global chemical and petrochemical industries have moved eastward towards Asia and the Middle East with major hubs being set [...]

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Footwear Industry to cross Rs 38K crore by 2015 : Study
- February 17, 2012
- By India Current Affairs
- Industry
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Booming middle class & rising demand from Tier II, III & rural markets spurs footwear retailing Growing at a compound annual growth rate (CAGR) of about 15 per cent the Indian footwear industry is likely to reach about Rs 38,700 crore by 2015 from the current level of about Rs 22,000 crore, apex industry body ASSOCHAM said today. India produces [...]

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Consumer affairs ministry against imposition of CTT in the Budget
- February 13, 2012
- By India Current Affairs
- Industry
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The ministry of consumer affairs, food and public distribution is not in favour of commodities transaction tax as it will restrict the growth of futures market, secretary Rajiv Agarwal said today amid reports that the ministry of finance is contemplating such a move to garner more revenues. The value of trade in commodity futures market may exceed Rs 170 lakh [...]

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Growth of Hotel Accommodation in the Country
- February 2, 2012
- By India Current Affairs
- Industry
- no comments
The Government has taken various measures to augment growth of hotel accommodation in the country. Hotel and Tourism related industry has been declared as high priority industry and Foreign Direct Investment upto 100%, under the automatic route is permitted in ‘Hotels & Tourism Sector’, subject to applicable laws/regulations, security and other conditionalties. To encourage the growth of hotels, on the [...]

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Mechanization OF Underground Coal Mines
- January 29, 2012
- By India Current Affairs
- Industry
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The Government has advised coal companies for adopting state of the art technologies for improving coal production, productivity and safety in underground mines. Coal India Ltd., (CIL) and Singareni Collieries Co. Ltd. (SCCL) have taken number of initiatives to adopt modern technologies/equipments. In CIL, out of the 271 underground mines, 227 mines are at various stage of modernization and adoption [...]

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Measures to Check Theft of COAL
- January 29, 2012
- By India Current Affairs
- Industry
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Law & Order is a State subject, hence State/District administration are requested to take necessary deterrent action to stop/curb theft/black marketing. But on their part coal companies have also taken the following measures to prevent theft of coal: - Check Posts have been established at the vulnerable points. - Wall fencing, lighting arrangements and deployment of armed guards round-the-clock has been done around [...]

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Aerospace and defence exports likely to reach USD 2 billion in 2011-12
- January 27, 2012
- By India Current Affairs
- Industry
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Aerospace and defence exports are likely to clock two billion dollars in the current fiscal, apex industry body ASSOCHAM said . With about 18 per cent growth during the first three quarters of 2011-12, aircraft exports including component parts stood at about 1.31 billion dollars against 1.11 billion dollars in the corresponding period of previous fiscal, according to The Associated [...]

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Enhancing Production of Coal
- January 19, 2012
- By India Current Affairs
- Economy /Business, Industry
- no comments
The Coal sector in India has continued to remain vital and of fundamental importance for the growth of Indian economy. India is on the path of rapid growth. High economic growth and increased economic activities would create much larger demand for energy and predominantly of coal. Indian Coal sector during post nationalization period has seen tremendous growth in production and [...]

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The Partnership Summit 2012 Witnesses Andhra Pradesh Signing of MoUs Worth Rs 6,47,000 Crore
- January 14, 2012
- By India Current Affairs
- Industry
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“The MoUs signed for private, and public-private-partnership projects in The Partnership Summit 2012 has crossed Rs 6,47,000 crore, and the government has already given approval for 23 projects worth over Rs 71,000 crore,” said Mr N Kiran Kumar Reddy, Chief Minister of Andhra Pradesh. 243 companies signed MoUs with the Andhra Pradesh Government during the Summit. Addressing a Special Plenary Session on Andhra [...]

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Retain excise duty and service tax at current level, cut CST from 2% to 1%
- January 14, 2012
- By India Current Affairs
- Industry
- no comments
The Associated Chamber of Commerce and Industry of India (ASSOCHAM) has urged the government to retain the Excise Duty and Service Tax at the current rate of 10.3 per cent in its Union Budget for the al year 2012-13. In its pre-budget memorandum submitted to the Finance Minister, Mr Pranab Mukherjee the chamber has also suggested the government to consider [...]

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Rupee depreciation to cost additional Rs. 66K crore, power cos. to incur huge losses
- January 12, 2012
- By India Current Affairs
- Industry
- no comments
Nearby 18% of rupee depreciation between May and December 2011 has added additional rupee cost of imports to the nation by Rs. 66,000 crores despite decline in the global prices of two major imported products crude oil and thermal coal according to the ASSOCHAM study on “Rupee Exchange Depreciation: Impact Analysis”. The study analysed four major imported commodities crude oil, [...]

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