Union Budget for the next fiscal year will be tabled in the Parliament in Budget Session. As India envisages becoming the third-biggest economy, the focus on job creation remains paramount.
The Industry body has recommended reducing excise duty on fuels, introducing consumption vouchers, increasing the unit cost of PM Awas Yojna, and multiple other measures to be included in the next Union Budget, which is expected to be tabled in 2025.
Shaktikanta Das stated that the retail inflation data for this month, which are scheduled to be released on June 12, "could possibly be lower."
Prime Minister Narendra Modi on Wednesday addressed the Confederation of Indian Industry (CII) annual session 2021 via video conferencing. The CII Annual Meeting 2021 will be held over two days on 11, 12 August.
Prime Minister Narendra Modi is addressing the Confederation of Indian Industry (CII) Annual Meeting 2021 via video conferencing.
Newly-elected president of industry body CII TV Narendran on Thursday said like other countries, India is also evolving in terms of regulations to deal with issues concerning social media companies.
CII has urged the government to take "strongest" national steps including curtailing economic activity to contain the spike in COVID-19 cases in the country.
Districts with substantial economic activity should be permitted to resume all industrial and business operations with highest safety protocols for enterprises to remain financially sustainable while averting job losses, CII said on Sunday.
In order to meet job requirements in the country, the Confederation of Indian Industry has recommended a National Employment Board consisting of members from key Union ministries and state governments. The suggestion was made by CII Director General, Chandrajit Banerjee.
The industry body has recommended that income below Rs 5 lakh should be exempt while between Rs 5-10 lakh should be taxed at a lower rate of 10 per cent.
CII President Rakesh Bharti Mittal noted that GST, reforms in Ease of Doing Business, FDI, labour, agriculture, and many other initiatives aimed at improving the overall investment climate.
"This is based on strengthening demand in the rural economy, including agriculture and non-farm activities, as well as better global growth climate," CII President Rakesh Bharti Mittal said.
The theme of the Summit this year is “India-Korea: Scaling up the Special Strategic Relationship through Trade and Investments”.
Launched in April 2015, the CII-IBA Financial Conditions Index, serves as a key indicator in assessing the short term financial conditions in the Indian economy.
As per CII other recommendations, SEBI should allow the agri-commodity derivative markets to stay open till 8 p.m. on weekdays and Daily Price Limits (DPL) on commodity futures contract to be relaxed.
Between 2010 and 2016, Germany was the second-largest recipient of Indian FDI in Europe with 96 projects, the CII said.
A CII report said that Indian companies have created more than 113,000 jobs in the US and invested nearly USD 18 billion in the country.
Kamineni, the Executive Vice Chairperson of Apollo Hospitals Enterprise (AHEL), takes over from Naushad Forbes, co-Chairman - Forbes Marshall
CII has demanded from government to lower the corporate tax rate to 18 per cent as more economic activities are entering the tax net post-demonetisation.
Modi’s demonetisation move a ‘masterstroke’, says CII; urges citizens to give some time
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