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Indian Economy News & Discussion - Aug 26 2015

The Technology & Economic Forum is a venue to discuss issues pertaining to Technological and Economic developments in India. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
svinayak
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby svinayak » 17 Feb 2017 21:18

disha wrote:
nirav wrote:He was discussing Israeli mangoes that they grow in the desert and made a strong pitch to NOT share technology with India as in his opinion it would be detrimental to Israeli agricultural interests !


Check out Jain Irrigations. http://www.jains.com/irrigation/drip%20irrigation%20system.htm - Desis do not require any ToT., all they need is a level playing ground to excel.


I know the owners of the Jain Irrigation. It is the largest Irrigation tech company. The company bought a Israeli company and now they are going global.

Suraj
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 17 Feb 2017 23:27

GST Council to finalise draft model GST law tomorrow
The GST Council, which is meeting tomorrow, is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers. The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, is also likely to finalise the definition of ‘agriculture’ and ‘agriculturist’ as well as constitution of a ‘National Goods and Services Tax Appellate Tribunal’ to adjudicate disputes.

The Law Ministry has sent the approved language and draft of the model GST Law, which outlines how the new national sales tax will be levied on goods and services.

Private Equity inflows in realty touch 9-year high at Rs 39,900 crore in 2016
Private equity investments in the real estate sector increased by 26 per cent during 2016 and touched a nine-year high of nearly Rs 40,000 crore, according to property consultant Cushman & Wakefield. Mumbai saw the highest share of inflow at 32 per cent of the total private equity investments in real estate (PERE). “PERE inflows in 2016 were seen at their highest in nine years at Rs 399 billion (USD 5.97 billion), registering a 26 per cent increase from Rs 316.7 billion (USD 4.8 billion) in 2015,” the consultant said in a statement. The number of deals closed during the year also rose only 5 per cent with 119 deals. Average deal size increased to Rs 3.4 billion (USD 50 million) from Rs 2.8 billion (USD 43 million) 2015, signalling increased confidence amongst investors to make larger investments into the Indian real estate sector.

A_Gupta
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 18 Feb 2017 20:32

Kerala Finance Minister Thomas Isaac:
After GST implementation the Commercial Taxes Department will shut down the border check-posts. But the state will have a mechanism to prevent tax evasions, said the minister.

“The plan includes setting up of surveillance cameras at entry points to the state through which officers can learn the registration number of goods vehicles entering the state. Action will be taken if an invoice bearing the vehicle’s number is not found on the GSTN portal,” he said.

http://www.newindianexpress.com/states/ ... 71863.html

??? Why does GST depend on which vehicle brought the goods in?

A_Gupta
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 18 Feb 2017 21:09

http://knowledge.wharton.upenn.edu/arti ... id-growth/
"Does India Need a Radically Different Approach for Rapid Growth?"

Suraj
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 19 Feb 2017 00:47

A_Gupta wrote:??? Why does GST depend on which vehicle brought the goods in?

A vertical network of businessmen can avoid paying GST collectively by claiming no credits and paying no tax. Such checks are used to catch people who do that. As seen in DeMo thread, there's no shortage of people who consider it their right to evade taxes.

VinodTK
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby VinodTK » 20 Feb 2017 05:05

Gold imports shrink 32.7 per cent to USD 19.74 bn in April-Jan
India's gold imports fell by about 32.7 per cent to USD 19.74 billion during the April-January period of this fiscal, which is expected to keep a lid on the current account deficit. Total imports of the precious metal in the corresponding period of 2015-16 stood at USD 29.31 billion.

According to industry experts, softening prices of the precious metal in the domestic and world markets could be the reason for the dip in imports. Cash crunch in the system in the wake of demonetisation also impacted the inbound shipments.

Gold imports dipped by about 30 per cent to USD 2.04 billion in January as against USD USD 2.91 billion in the same month last year, according to the commerce ministry data.

The contraction in imports helped in narrowing the trade deficit to USD 86.38 billion in April-January period as against USD 107.74 billion in the same period previous year.

India is one of the largest gold importers in the world, and the imports mainly take care of demand from the jewellery industry. For the full year 2015-16, CAD stood at USD 22.1 billion, or 1.1 per cent of GDP, as against USD 26.8 billion, or 1.3 per cent, in 2014-15.

In volume terms, the country's total official gold imports declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the year-ago period. India imported 650 tonnes of gold in 2015-16.

The imports remained stable at around 100 tonnes in November despite fall in sales of jewellery due to the cash crunch following demonetisation. According to experts, the rural demand was hit due to the currency ban and restriction on withdrawal of money form banks and ATMs.

kapilrdave
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby kapilrdave » 20 Feb 2017 13:10

Suraj wrote:
A_Gupta wrote:??? Why does GST depend on which vehicle brought the goods in?

A vertical network of businessmen can avoid paying GST collectively by claiming no credits and paying no tax. Such checks are used to catch people who do that. As seen in DeMo thread, there's no shortage of people who consider it their right to evade taxes.

There are entire industries sized in thousands of crores running completely on cash basis. Some had refused to pay even 5% VAT in past on face of the state govt. Their arrogance is seen to be believed.

Suraj
Forum Moderator
Posts: 10085
Joined: 20 Jan 2002 12:31

Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 23 Feb 2017 01:55

Govt clears foreign investments worth Rs 12,200 crore
An inter-ministerial body on Tuesday approved 15 foreign investment proposals, including those relating to Apollo Hospitals, Hindustan Aeronautics, Dr Reddy's, and Vodafone, worth Rs 12,200 crore.

"15 of 24 FDI proposals were approved while three were rejected," sources said.

The Foreign Investment Promotion Board (FIPB), headed by economic affairs secretary Shaktikanta Das, deferred six proposals, including that of Gland Pharma.

These proposals were deferred for further consultation and want of more information, sources added.

Among the proposals approved, Twinstar Technologies will alone bring foreign capital of Rs 9,000 crore into the country.

GoI has been making sustained effort to bridge the demand-supply gap in pulses, but which takes time because pulses are not a fast growing crop and each new sowing takes 2-3 years to achieve full yield:
Five-year map to raise pulses output
The central government has prepared a five-year schedule to push annual pulses production to over 24 million tonnes by 2020-21. This could make the country self-sufficient.

Production in 2016-17, also the first year of this plan, is expected to be a record at over 22 mt, around 0.9 mt more than targeted.

Image
GST implementation to push GDP growth above 8%: IMF
The adoption of the GST could help raise India's medium-term GDP growth to over eight per cent and create a single national market for enhancing the efficiency of the movement of goods and services, the IMF said on Wednesday.

At the same time, the International Monetary Fund (IMF) also expressed concerns over the implementation of the Goods and Service Tax (GST).

The IMF said larger than expected gains from the GST and further structural reforms could lead to significantly stronger growth, while a sustained period of continued low global energy prices would also be beneficial to India.

Noting that India's tax revenue-to-GDP ratio (at around 17 and a half per cent) remains considerably below than its emerging market peers, the IMF said the implementation of a robust GST should be a key priority given its growth-enhancing effects.


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