Category Archives: ASSOCHAM

GST to settle issues regarding double taxation of software: Service Tax Commissioner

Introduction of goods and services tax (GST) will help settle the issue of double taxation on some transactions like in case of information technology software, a top Finance Ministry official said at an ASSOCHAM event held in New Delhi today.

“On the issue of double taxation on some transactions like software, it is true that there are disputes on the issue… Read More

IndianBureaucracy wishes its Esteemed Readers a Happy Ram Navami

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RBI taking steps to improve credit to MSMEs

The Reserve Bank of India is taking a number of steps to ensure timely credit availability as also improving cash flow to the micro, small and medium enterprises (MSMEs) which stand as the “beacon of hope” in an otherwise difficult economic environment, RBI Deputy Governor Mr S S Mundra said at an ASSOCHAM meeting.

Addressing the Bankers’-… Read More

Indian electronics and hardware industry to be between $112-$139 bn by 2018- ASSOCHAM

New Delhi, Thursday, 7 April 2016. The Indian electronics and hardware industry is expected to grow at a CAGR of 13%–16% during 2013–18 to reach US$112–130 billion by 2018 from current level of $75 billion, according to an ASSOCHAM-EY study titled ‘Turning the Make in India dream into a reality for electronics and hardware industry’. The growth … Read More

Rate cut short of expectations, but liquidity injection welcome move by RBI, ASSOCHAM

Though India Inc would have liked at least a 50 basis points cut in the policy interest rates by the RBI, the measures announced to inject enough liquidity into the system should enable banks to cut the lending rates, said ASSOCHAM president, Mr Sunil Kanoria.

“The transmission in the interest rates at the ground level should factor in not only today’s… Read More

UP exceeds 11th FYP targets; establishes over 1.66 lakh MSMEs & generates over 8.5 lakh job opportunities: Study

During the 11th Five-Year Plan (2007-2012), Uttar Pradesh (UP) has managed to exceed its target by setting up over 1,800 additional micro, small and medium enterprises (MSMEs) and generating over two lakh additional jobs, noted a just-concluded study by apex industry body ASSOCHAM jointly with Thought Arbitrage Research Institute (TARI).

“The Uttar… Read More

ASSOCHAM requests to Introduce equalisation levy as part of IT Act rather than as Separate Levy

Apex industry body ASSOCHAM suggested the government to introduce the ‘equalisation levy’ as part of Indian Income-tax Act itself and not as a separate chapter in the Finance Act.

“Introducing equalization levy separately under the Finance Act and not incorporating it as a part of the existing Income-tax Act would only increase cost of doing business… Read More

Gujarat & Maharashtra contribute 46% to India’s exports; share of top 5 is 69%- ASSOCHAM

Reflecting how skewed is India’s export base, two states – Gujarat and Maharashtra, account for more than 46 per cent of the merchandise consignments from the country and with the addition of three next best performing sources of shipments, the top five states claim over 69 per cent of India’s entire export earnings, according to the latest study by apex… Read More

Over 84% projects stuck in different stages of implementation: Study

Over 84 per cent of total investments attracted by irrigation sector in India as of FY 2014-15 have remained stuck in various stages of implementation, while all investment projects in irrigation sector in Chhattisgarh and West Bengal have remained stuck the scenario was no different in Gujarat, Andhra Pradesh, Punjab and Jharkhand where almost 99 per cent… Read More

Horn Not Ok Please: Industry captains vow not to blow horns

In an attempt to reduce “unnecessary vehicular honking” and make citizens aware of the health and other hazards associated with it, industry captains led by Mr Sumit Mazumder, President, CII & CMD, TIL Ltd; RAdm A K Verma (Retd), Chairman, CII Eastern Region & CMD, GRSE Ltd; Mr T V Narendran, Deputy Chairman, CII Eastern Region & MD, Tata Steel… Read More

ASSOCHAM seeks FTAs’ review with exports slipping back to 2010 level

Seeking a thorough review of India’s trade –opening agreements like FTAs and PTAs, ASSOCHAM has said the country’s exports in 2016-17, would be reversing back to near about the level of 2010-11, making it imperative for the government to come out with a fresh strategy to stem continuous fall in exports.
With a 16-18 per cent contraction, exports will … Read More