Economic Schemes

The ruling calls into question the doctrine of eminent domain, where state could summarily acquire private property, particularly land, for public use, and redefines the economic powers of the state

Sitharaman called for the need to explore alternative growth strategies and the types of jobs they will generate, in addition to the traditional manufacturing-led development pathway

Successful conclusion of India's proposed trade agreements with the UK, Oman and four European nation bloc EFTA will reflect its commitment to trade liberalisation and economic integration at a time when the whole world is turning protectionist, according to a report. Economic think tank Global Trade Research Initiative (GTRI) said the free trade agreements (FTAs) have become pivotal instruments for India's economic expansion and integration into the world market. These nations and the bloc are eager to finalize these agreements before the upcoming general elections, GTRI said, adding the talks are on the verge of conclusion. Signing of these three agreements will take India's FTA tally from 13 to 16. Number of countries with comprehensive FTAs will go up from 22 to 28. In addition India has six small scope PTAs (preferential trade agreements). Last pact was signed with Australia in March 2022. "Everyone wants to do an FTA with India. The main reason for this is India's high impo

The manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity at the third ABP Network's 'Ideas of India Summit 3.0' here, he also said over the next seven years, Indian GDP is expected to add as much to the global GDP as the entire European Union combined. The two-day event, which began here on Friday, has seen the participation of policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, among others. "India envisions to be a 30-trillion economy by 2047 to be a Viksit Bharat. This means manufacturing should be 25 per cent of GDP... We should be more ambitious and make manufacturing grow 16 times and exports grow 11 ...

Union Minister Ashwini Vaishnaw on Thursday expressed confidence that India will continue to demonstrate a 6-8 per cent consistent growth rate over the next 10 years as he invited global players to the country to tap domestic and global markets. India is open to the world, and to new ideas, Vaishnaw, the Minister of Railways, Communications and IT, said while speaking at Raisina Dialogue 2024. "The Indian economy is growing at a consistent clip at a very good rate. In the next 10 years, India will continue to grow at 6-8 per cent consistent growth rate...I can say that with a high level of confidence," Vaishnaw said. The building blocks for this are already in place and the results are visible, he said, outlining various growth initiatives taken by the government under Prime Minister Narendra Modi. The next five years will further lay the foundation for India to become a developed country by 2047, he said. Vaishnaw said that the focus over the next five years will be on the full .

The global economic uncertainties have impacted foreign direct investment (FDI) but despite these challenges, India will continue to be the bright spot of the world for overseas players, says Commerce and Industry Minister Piyush Goyal. While signing free trade agreements (FTAs) or bilateral investment treaties (BITs), the government always ensures the terms are best for India, Goyal told PTI in a post-budget interaction. Finance Minister Nirmala Sitharaman in her budget speech on Thursday said India is negotiating BITs with different countries in the spirit of 'first develop India'. She said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts. "The global uncertainty has certainly impacted FDI, particulary considering that the interest rates in the US and other developed countries have massively seen a spike," Goyal told PTI. He said that because of the high interest rates, there was a reverse flow of capital towards developed ...

Sitharaman assured India will continue to work closely with the island nation on debt restructuring discussions and extend support for its economic recovery

African country Malawi looks to deepen trade and investment relationship with India in areas of energy, agriculture, mining and tourism, its High Commissioner to India Leonard Mengezi said here on Saturday. Mengezi said that Malawi looks forward to cementing the "great cohesion" with businessmen in Gujarat to further strengthen India-Malawi relationship and attract investment. Mengezi was here to participate in the India-Malawi Trade Conference organised by India Africa Trade Council with the aim to enhance business cooperation with Gujarat. "Malawi has been in great trade, economic and investment relations (with India) since 1964, when Malawi got its independence. But there is a need to deepen relationships further in the areas of energy, agriculture, mining, tourism," he told mediapersons. "We need to cement great cohesion with the business people here in Gujarat so as to strengthen Malawi-India relations, so that there is a greater understanding and we take business people who a

Cities are not just an economic landscape. In the post-Covid world there is a need to understand the role culture plays in how a city grows beyond its economic allure

Born in pre-independence India, Alagh has left behind a rich legacy in the world of economic policymaking

The development will facilitate villagers in getting benefits of welfare schemes of the Central and state governments

India had proposed a loss and damage fund last year, but the COP26 final text steered clear of it

Urban local bodies here have approved and issued 1.09 lakh letters of recommendation for loans to banks under a micro-credit scheme for street vendors

Sitharaman had called Laghu Udyog Bharti general secretary Govind Lele to seek feedback on the implementation of Rs 3-trillion Emergency Credit Line Guarantee Scheme

New schemes, up to Rs 500 crore, which have already been appraised by the departments and ministries, would also be suspended in the current financial year.

'This is an act of self deception. This is another 'jumla' (rhetoric) that you sell to the people of the country,' said senior Congress leader Kapil Sibal

Now a company can be MSME if the turnover is up to Rs 100 crore. Distinction between manufacturing and services MSMEs will be removed, she said

At present, 24 per cent of a worker's basic pay is deducted - with 12 per cent each counted as employer's and employee's share - towards the EPF savings

Home buyers, on the other hand, will have to wait longer to take possession

Government support in the form of 12% employer and 12% employee contribution extended for another three months - June, July and August