Bharat Rakshak

Suraj wrote:September steel production data is out: Worldsteel: September 2018 data
Sept 2018: 8.5MT (+2.1% YoY)
Jan-Sept 2018: 79.7MT (+6.1% YoY)

Still in 2nd place, slightly widened the gap with #3 Japan. They've essentially been static YoY, but we've increased output by 4.5MT so far this year. We continue to produce more steel than countries of former USSR, and almost as much as US+Canada+Mexico.

Supratik wrote:One problem with the analysis posted by Vips is that Kerala going from 9 to 1 and Bihar going from 80 to 50 will suggest KL has done great at 90% reduction. But reality is that in terms of sheer numbers the reduction is huge in BH. That article is poor analysis.

India ranks at 77 in the World Bank's 'Ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017.

souravB wrote:Source:
ANI:Twitter link

India ranks at 77 in the World Bank's 'Ease of doing business' index. India has recorded a jump of 23 positions against its rank of 100 in 2017.

This is getting better

                        
												2019			2018                              
Ease of Doing Business Rank					77			100
Starting a Business						137		        156
Dealing with Construction Permits      52                181
Getting Electricity                              24                 29
Registering Property                           166              154
Getting Credit                                   22                  29
Protecting Minority Investors              7                     4
Paying Taxes                                      121               119
Trading across Borders                         80               146
Enforcing Contracts                            163              146
Resolving Insolvency                           108              103

India jumps 23 ranks on World Bank Ease of Doing Business; becomes South Asia leader
Ease of Doing Business 2019:

By improving on six of the ten parameters, India has also made its place among top ten improvers in the world, for the second consecutive year.

Repeating last year’s huge success, India, once again, made a huge jump of 23 places on World Bank’s Ease of Doing Business to secure 77th rank — indicating Prime Minister Narendra Modi’s commitment towards business-related reforms.

Not only has India made remarkable progress but has also become the highest ranked economy in South Asia, leaving Bhutan behind. India’s huge stride towards becoming a business-friendly nation has come in the last two years, with a total jump of 53 places.

New Zealand, Singapore and Denmark secured the first three ranks in the 190-country list, while Afghanistan made a huge progress among South-Asian countries besides India.

By improving on six of the ten parameters, India has also made its place among top ten improvers in the world, for the second consecutive year. Last year, India had jumped 30 ranks to break into top 100 of the elite list for the first time.

From the implementation of the Goods and Services Tax (GST), Insolvency and Bankruptcy Code (IBC), labour laws reforms to electronic trade documentation, World Bank said, several big and small reforms made India advance to the 77th place in the global ranking.

“India made paying taxes easier by replacing many indirect taxes with a single indirect tax, the GST, for the entire country,” the World Bank said, giving thumbs up on Paying Taxes indicator.

The recent corporate tax rate cut for small businesses in the Budget 2018 also got praise from the World Bank.

On the new-adopted IBC law, which is likely to help lenders recover over Rs 1 lakh crore of bad loans soon, the World Bank noted that the establishment of debt recovery tribunals reduced nonperforming loans by 28% and helped in lowering interest rates on larger loans.

Moreover, India’s efforts towards reducing time and cost of trade by the electronic sealing of containers, upgrading of port infrastructure, and submission of electronic documents with digital signature also won big for the country.

Other reforms such as streamlining the process of obtaining a building permit and making electricity available faster and cheaper were also received well.

The World Bank’s Doing Business report assesses 190 economies on ten parameters — starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

In India, reforms undertaken by Delhi and Mumbai were considered by the World Bank.

hanumadu wrote:

Code: Select all

                        
												2019			2018                              
Ease of Doing Business Rank					77			100
Starting a Business						137		        156
Dealing with Construction Permits      52                181
Getting Electricity                              24                 29
Registering Property                           166              154
Getting Credit                                   22                  29
Protecting Minority Investors              7                     4
Paying Taxes                                      121               119
Trading across Borders                         80               146
Enforcing Contracts                            163              146
Resolving Insolvency                           108              103

Suraj wrote:Great summary, Uttam. I was going to mention state vs federal items in that list of measurables, but you've covered that already. The 'paying taxes', 'enforcing contracts' and 'resolving insolvency' articles are curious. Generally if they metric doesn't make sense under the circumstances, I'm going to question the metric before I question the progress that's clearly obvious.

JTull wrote:Arcelor-Mittal's plans that have been approved by Essar Steel creditors include increasing it's capacity from 6.5MT to 15MT.

I'm a bit concerned about domestic coal production for power and steel sectors. Coal India is simply not being able to keep up with the demand. Then, there's the coming squeeze in 2019 in Global coal markets. I wonder how it will all play out.

Arun Jaitley
@arunjaitley
GST collections for October 2018 have crossed Rs. 1 lakh crore. The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities.
12:00 AM - Nov 1, 2018

Supratik wrote:Bunch of news.

IMSME reform.
https://swarajyamag.com/insta/msmes-get ... the-sector

1 Approving loans in just 59 minutes, with a sealing cap of Rs 1 crore.
2 Interest rate for GST registered MSME to be 2 per cent lower than the market rate, applicable for loans up to Rs 1 crore. Exporters to get 3 to 5 per cent subvention on loans.
3 Companies having a turnover of over Rs 500 crore to compulsorily register on the TreDS platform. This would help the MSMEs supplying to these companies in case of a delayed payment.
4 Government entities to make 25 per cent of all their purchases through MSMEs.
5 Government entities would also have to get 3 per cent of their procurement done through MSMEs run and owned by women.
6 All central government enterprises to be present on GeM portal helping MSMEs supply directly to them. This will also aid in eliminating the middleman culture.
7 Twenty new hubs and 100 toll rooms to be created at the cost of Rs 6,000 crore to help technological up-gradation of MSMEs.
8 Pharma companies to be part of clusters, which basically means enterprises being physically present in a small 5 km radius. The Central government would bear 70 per cent of all the expenses needed to form such clusters.
9 Returns with regards to eight labour laws and 10 central government rules would only need to be filed once a year.
10 A possible end to inspector raj as inspectors would be allocated the establishment digitally and they would also need to file reports within 48 hours with appropriate reasons.
11 Air and water consents for MSMEs to now be merged together and routine environment inspections would also end.
12 MSMEs would not have to face criminal action for small and inadvertent mistakes, resulting in a reduction of 60 per cent in total cases.

hanumadu wrote:

souravB wrote:Source:
ANI:Twitter link

This is getting better

http://www.doingbusiness.org/en/rankings

Code: Select all

                        
												2019			2018                              
Ease of Doing Business Rank					77			100
Starting a Business						137		        156
Dealing with Construction Permits      52                181
Getting Electricity                              24                 29
Registering Property                           166              154
Getting Credit                                   22                  29
Protecting Minority Investors              7                     4
Paying Taxes                                      121               119
Trading across Borders                         80               146
Enforcing Contracts                            163              146
Resolving Insolvency                           108              103

Uttam wrote:UPI transactions have taken off!

Prasad wrote:Oh the whining and entitlement https://economictimes.indiatimes.com/in ... 466794.cms

The note, which was sent by a Mastercard Vice President for Global Public Policy, Sahra English, said that, while Modi's digital payments push was "commendable", the Indian government had adopted "a series of protectionist measures" to the detriment of global companies.

ArjunPandit wrote:Deleted. Don't use this thread to assassinate peoples' character.

The Union government is planning to draw up a long-term road map to promote India as a major hub for exports of automobiles and spare parts with a focus on Africa and Latin America.

The commerce ministry is in consultations with industry body Society of Indian Automobile Manufacturers (Siam) and leading auto makers to help prepare the plan, two people directly aware of the development told Mint.

Yagnasri wrote:I make payments regularly using BHIM (UPI) for payments and money transfer. It works like wonder. Much better than any bank online transfer. We need to encourage it further.