Moody's on Friday cut India's 2019 GDP growth forecast by 60 bps to 6.2 percent and 2020 GDP growth forecast by 60 bps to 6.7 percent.
Bridging the rural-urban divide, investments in housing, water, etc, support for start-ups and MSMEs, and skilling the workforce are the fields that are poised to give a boost to the economy.
The CCI should ensure that “Indian enterprises are not subject to abuse from companies existing somewhere else,” she said.
India is growing at a rate of 6-7 per cent this year and has become the global software development centre, he said.
Amnesty and dispute resolution are the two main components of this scheme. There are many cases related to service tax and excise duties that have been subsumed in the GST now.
The statements underscore the government’s discomfiture to loosen its purse strings in a big way, given the ‘limited fiscal space’ amid subdued tax collection growth. Nevertheless, it will likely opt for targeted interventions in critical sectors like auto, MSMEs and infrastructure. Also, it could front-load its spending to spur demand.
The EPFO is seeking early redemption of about Rs 700 crore worth of bonds of DHFL to safeguard the savings of workers. Its exposure to IL&FS debentures is Rs 574 crore. The EPF has more than 6 crore active members.
It provides substantial relief in tax dues for all categories of cases as well as full waiver of interest, fine and penalty. In all these cases, there would be no other liability of interest, fine or penalty. There is also a complete amnesty from prosecution.
Ten power plants had won 25-year coal linkages of 27.2 MTPA in the first round of Shakti auctions where bidders quoting the highest discount to its existing tariffs were allowed to choose their preferred source of coal supply from eight available sources.
The contract, which was awarded by APGENCO, is estimated to be Rs 3,400 crore of civil works, apart from Rs 3,000 crore of hydel power project on the engineering, procurement and construction basis.