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| | Decontrol fuel prices, says Survey
It is high time that petrol and diesel prices were decontrolled taking advantage of low inflation and global crude prices, the Economic Survey said, while criticising the government for its "imperfect" handling of oil price hike. | | | |
Pranab hopes to surpass 7% GDP growth target
Finance Minister Pranab Mukherjee on Thursday said the monsoon would be normal and with luck the country could surpass the GDP growth target of about 7 per cent. | | | |
Need FDI in multi-brand retail: Economic Survey
India needs to fully open its retail market to foreign investors in order to drive economic growth, although the subject was strictly taboo till last year because of pressure from the government's allies and livelihood concerns. | | | |
Economic survey suggests food coupons for poor people
Asserting that there are major deficiencies in the Public Distribution System, the Economic Survey has mooted the idea of providing food coupons to poor people to address the issue of diversion of foodgrain. | | | |
NREGS benefited 4.5 cr households in 2008-09
About 4.5 crore households across the country benefited from the pioneering National Rural Employment Guarantee Scheme in the financial year 2008-09, an increase of 32 per cent over the previous year, says the Economic survey. | | | |
Economic Survey calls for sweeping reforms
Finance Minister Pranab Mukherjee today tabled the Economic Survey for 2008-09 that prescribes doing away with cess, surcharges on taxes, including Fringe Benefit Tax, and sweeping reforms in areas like petrol pricing and financial sector. | | | |
Indian economy sheds 6 lakh jobs in four months
More than 6,00,000 Indians, many employed in the gems and jewellery sector, lost jobs in just four months from October 2008 as the impact of the global economic crisis hit the country's shores. |
Delink licence from spectrum, auction 3G: Survey
Suggesting delinking of spectrum from telecom licences, the Economic Survey for the year 2008-09 has suggested auctioning radio frequencies for the forthcoming 3G mobile services. | | | |
Survey for lifting ban on farm futures
The government should lift the ban on futures trading on rice, sugar, tur and urad and decontrol sugar sector, saying the resultant price discovery would help farmers and other stakeholders, the Economic Survey said. | | | |
Big tax cuts likely in the Budget
Finance Minister Pranab Mukherjee could announce sweeping tax cuts for corporates and individuals in Budget. NDTV has learnt that the proposals to cut corporate tax from 30 per cent to 25 per cent and increasing personal income tax exemption limit from Rs 1.5 lakh at present to Rs 2.5 lakh or more is being considered by the government. | | | |
Fare revision, vendor passes likely in Rail Budget
Nominal passenger fare revision, incentives on freight transport, enhanced funding for security and seasonal passes for vendors at Rs 20 are likely to be the highlights of the Railway Budget to be presented on July 3. | | | |
India’s exports plunge 29.2% in May
India's exports fell by nearly a third in May, its eighth straight month of decline, as overseas demand withered. Imports also plunged, shrinking 39.2 per cent to $16.2 billion. | | | | | | |
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The government should exempt infrastructure projects from excise duty, Value Added Tax and Central Sales Tax, until they are commissioned, as these levies increase the capital costs of the projects.On account of continuing levying of excise, VAT and CST on road, port, power and oil projects, the capital cost of the these become dearer by over 20-25 per cent, thus increasing the burden on developers before the projects are commissioned.Assocham ” | | | | “
Now I am not looking for a stimulus package in terms of doles to ... particular sectors of the industry, barring one or two which may need support. A stimulus package should come in the form of massive public sector investment. I am a big supporter of disinvestment but I personally believe the government needs to pick up these large amounts ... from these disinvestments, and (spend) them (on) both infrastructure and social programmes. Bharti Group Chairman Sunil Mittal. ” | “
The Prime Minister has said we should get back to between 8 and 9 per cent (economic growth rate), that might take a couple of years. I think it is feasible but it requires some strong and purposeful action.Planning Commission Deputy Chairman Montek Singh Alhuwalia ” | | | | | | |
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