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Updated: 5 min 17 sec ago
February is the second month in succession in which the health of the sector improved after the demonetisation-related contraction recorded at the end of 2016.
“A lot of people have made highly political and highly personal an issue that actually involves a lot of common ground,” Pai said.
Latest GDP estimates show Q3 growth at 7% and full year at 7.1%, well above most independent forecasts that demonetisation would take heavy toll.
It said the migrant population makes substantial contribution to economic growth and their Constitutional rights need to be secured.
He also urged the World Bank to lower its interest rate by removing the commitment charges levied on the undisbursed loans.
For India's cash-reliant economy, Prime Minister Narendra Modi's decision in November to outlaw old Rs 500 and Rs 1,000 banknotes came as a big shock.
The notification says that first four transactions are free and "5th transaction onwards - Rs 150 per transaction (plus taxes & cess) would be levied"
These applications would be considered by the Board of Approval (BoA) headed by Commerce Secretary Rita Teaotia on March 8. The BoA is a 19-member inter-ministerial body that deals with SEZ-related matters.
The estimates of GDP growth for the full fiscal 2016-17 at 7.1 per cent marked a sharper fall from the 7.9 per cent recorded for the fiscal 2015-16.
It also recommended that migrants should be enabled to avail benefits of Public Distribution System (PDS) in the destination state by providing for inter-State operability of PDS.
Mittal said that it is the responsibility of the regulator to ensure that there is "amicable co-existence of operators, less noise, and more work" in the system.
Association of Planters of Kerala urge state govt to abolish plantation tax and agricultural income tax
The association chairman Thomas Jacob said the crop production has come down by 30 per cent in tea, 14 per cent in rubber, 60 per cent in cardamom and 40 per cent in coffee due to drought conditions.
If one takes the value of replenished notes; it has just increased to Rs 8.8 lakh crore or 57% until mid February from Rs 8 lakh crore or 52% by January-end,
According to a report, India is missing out on a potential 1.55 crore new businesses and 6.4 crore additional jobs by not addressing the challenges faced by women who want to start a business.
The government pegged the GDP growth at a higher than expected 7.1 percent for the current fiscal despite the note ban issue.
Industry trackers under the current definition and framework of PoEM many PSUs with foreign units may have to cough up extra money to pay taxes in India.
The output price index rose to a 40 month high of 53.4 from 50.7 as firms looked to expand their profit margins in February, Nomura said.
The October-December quarter of 2016 was "substantially impacted by demonetisation (of higher denomination currency)," the finance minister said.
“Latest data support our expectation that the economic disruption caused by demonetization will be short term in nature.” Said a report by the ratings firm.
The committee has said that the overall profit distribution should be linked to 5 per cent of the annual profit accruing from core business activity.