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
GST implementation to push GDP growth above 8%: IMF
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.
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.