CBIC further postpones SCMTR go-live date to November 1

Central Board of Indirect Taxes and Customs (CBIC) further postponed the implementation and go-live date of Sea Cargo Manifest and Transhipment Regulations (SCMTR) to November 1, 2020, from the prior deadline September 30. Earlier the same was deferred from August 1 to September 30. The regulation directs changes in timelines and requirements for advance notice.

Read More

Address policy constraints and glitches to boost growth: Exim Bank

An immediate refund of Goods and Services Tax (GST) can increase the overall GDP by 2 per cent, exports by 7 per cent, aggregate imports by 6 per cent and overall employment by nearly 4 per cent, according to a new study by Export-Import Bank of India (India Exim Bank). The effects of immediate refund.

Read More

Finance ministry pins hopes on festive season for growth momentum

The finance ministry on Sunday said the festive months were expected to further boost economic growth after high frequency indicators showed improvement. It, however, cautioned that the spread of Covid-19 and an increase in precautionary personal savings posed risks to the prospects of economic expansion. The Department of Economic Affairs in its Monthly Economic Review for September.

Read More

India initiates anti-dumping probe against two Chinese products

India has initiated an anti-dumping probe against two products imported from China, following complaints by domestic companies. The commerce ministry’s investigation arm Directorate General of Trade Remedies (DGTR) is probing alleged dumping of ‘Hydrofluorocarbon (HFC) Blends’, used in commercial and residential air conditioning; and ‘Decor paper’ from China. SRF Ltd has filed an application before.

Read More

Govt provided over Rs 2.33 lakh crore cash aid in last 6 months

The government has so far provided cash assistance of over Rs 2.33 lakh crore in addition to free ration to pandemic-hit underprivileged sections of the society in the last six months that played a crucial role in demand generation and reflected in the recent signs of economic recovery, two senior government officials said. Positive growth.

Read More

India, Philippines working on preferential trade agreement

India and Philippines have agreed to work on preferential trade agreement or PTA, which will reduce and eliminate tariffs on many products both sides will be negotiating on. This was in fact, one of the key outcomes of the 13th Meeting of the India Philippines Joint Working Group on Trade and Investments (JWGTI). Sectors like–pharmaceuticals,.

Read More

Lok Sabha passes Bill to manage, operate ports better

Lok Sabha on Wednesday passed a bill that seeks to provide greater autonomy in decision-making to 12 major ports in the country and professionalise their governance by setting up boards. The Major Port Authorities Bill, 2020, seeks to repeal the Major Port Trusts Act of 1963. The bill aims to provide for regulation, operation and.

Read More

India-Arab economic ties needs boost to match strategic ties: MEA official

The economic relations between India and the Arab countries have to be stepped up to match the strategic partnership and bilateral understanding at the political level, a senior MEA official said on Tuesday. Sanjay Bhattacharyya, Secretary, Consular, Passport and Visa (CPV) and Overseas Indian Affairs (OIA) in the Ministry of External Affairs, said the key elements of India-Arab countries’.

Read More

India engages with Iran on Chabahar-Zahedan railway project

The Modi government on Monday asserted that it remains engaged with Iran on the Chabahar-Zahedan railway project as part of its connectivity initiatives in the region. During the visit of the Prime Minister to Iran in May 2016, a MoU was signed between Indian Railways’ IRCON and Iranian Railways’ CDTIC (Construction & Development of Transportation.

Read More

Cabinet nod sought for 2 industrial areas, multi-modal logistics hub

The Department for Promotion of Industry and Internal Trade has sought cabinet nod for two industrial areas and one multi-modal logistics and transport hub, work on which is proposed to begin by next year. The department has sought the approval of the Cabinet Committee on Economic Affairs (CCEA) for the 2,500-acre Krishnapatnam industrial area in.

Read More