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  • India, ADB sign USD 200 million loan agreement to improve highways in Bihar

    The project involves upgrading State Highways to standard two-lane width with road safety features and paved shoulders including reconstructing, widening, and strengthening culverts and bridges.

    Nov 27, 2018
  • RBI eases hedging norms for overseas borrowings to 70% from current 100%

    The relaxation in hedging is for Indian companies raising foreign currency-denominated ECBs under Track I of the ECB framework. The 'Track I' refers to medium-term foreign currency-denominated ECB with a minimum average maturity of three to five years.

    Nov 27, 2018
  • Government appoints Akhilesh Ranjan as Convenor of Task Force drafting a New Direct Tax Legislation

    The task force has been tasked to draft an appropriate Direct Tax Legislation keeping in view the direct tax system prevalent in various countries, international best practices and economic needs of the country. The Task Force has set its own procedures for regulating its work.

    Nov 26, 2018
  • PM Modi lays foundation stone of City Gas Distribution Projects

    Currently, the share of gas in the India’s energy mix is just over 6 per cent and the aim is to reach the 15 per cent figure, while the world average is 24 per cent. India is not only focussing on increasing the use and supply of gas, but also on producing gas through agro-wastes and other products.

    Nov 23, 2018
  • Top Cabinet Approvals: 22 November 2018

    The Cabinet Committee on Economic Affairs has given its approval to expand the scope of mandatory packaging norms under the Jute Packaging Material Act, 1987. The CCEA approved that 100 per cent of the food grains and 20 per cent of the sugar shall be mandatorily packed in diversified jute bags.

    Nov 22, 2018
  • Prime Minister launches Ease of Doing Business Grand Challenge

    Prime Minister Narendra Modi has launched the Ease of Doing Business grand challenge on resolving seven identified ease of doing business problems with the use of cutting-edge technologies. The challenge is open to all young Indians, start-ups and private enterprises.

    Nov 20, 2018
  • RBI Board meeting: Key decisions

    Tensions between the Reserve Bank of India and the government seemed to have some what eased.The RBI appeared to have backed down on several issues such loan restructuring for small businesses, easier norms for weak banks, and pumping of more cash into the system.The decisions came at a board meeting.

    Nov 20, 2018
  • Commerce Minister releases report on Industrial Park Rating System

    The Union Commerce Minister, Suresh Prabhu has released a report on Industrial Park Rating System. The Ministry has undertaken the exercise of studying infrastructure across states and in 3354 industrial clusters in order to assess the quality of infrastructure in industrial parks.

    Nov 20, 2018
  • Baba Kalyani committee submits report on India’s SEZ policy

    The Baba Kalyani led committee constituted by the Ministry of Commerce and Industry to study the existing SEZ policy of India submitted its report to Commerce Minister Suresh Prabhu. The report notes that the success seen by services sectors like IT and ITES has to be promoted in other services sector like health care, financial services, legal, repair and design services.

    Nov 19, 2018
  • India, Maldives released Joint Statement

    India and Maldives have released a Joint Statement after talks between Indian Prime Minister Narendra Modi and His Excellency Ibrahim Mohamed Solih, President of the Republic of Maldives. Modi was on a one day visit to the Maldives to participate in the presidential inauguration ceremony.

    Nov 19, 2018
  • Union Government, ADB sign loan agreements worth USD 574 million for various projects in India

    The ADB and the Union Government signed a USD 105 million loan agreement to continue financing the transmission system upgrades in Himachal Pradesh for increased supply of hydropower. This tranche 3 loan is part of the USD 350 million multi-tranche financing facility (MFF) for Himachal Pradesh Clean Energy Transmission Investment Program.

    Nov 17, 2018
  • India to add 14 lakh IT jobs in new-age technologies by 2027: Study

    India will generate over14 lakh new IT jobs by 2027 driven by demand for a skilled workforce in emerging technologies such as cyber security, Internet of things and Big Data, as per a Cisco-led study that released on November 15.

    Nov 15, 2018
  • ISPRL, ADNOC sign MoU to explore storage of crude oil at Padur

    India is an important oil market and the MoU underscores the strategic energy partnership between the UAE and India that leverages the UAE and ADNOC’s expertise and oil resources. Under the agreement, ADNOC is expected to store crude in compartments at Padur.

    Nov 13, 2018
  • India to resume exporting raw sugar to China from early 2019

    India plans to resume exporting raw sugar to China beginning 2019, almost after a decade. The move is a part of a larger goal of shifting focus to the overseas markets to shed surplus stocks that have muted prices and created financial distress in the Indian sugar mills.

    Nov 10, 2018
  • USITC rules against anti-dumping duty on PTFE resin from India, China

    The US International Trade Commission has ruled against putting an anti-dumping duty on the import of a synthetic fluoropolymer from India and China. The fluoropolymer is a key ingredient in non-stick coating for pans and other cookware.

    Nov 5, 2018