The measures, which are under consideration, include provision of adequate time for STC to repay bank loans and sale of immovable assets.
All these problems are India's own doing. We have created an anti-achiever and anti-success culture.
The proposed Remission of Duties or Taxes on Export Product (RoDTEP) scheme will come into force from January 1, 2020.
Can Saturday's measures, along with the ones announced earlier, provide a real and tangible solution to Indian realty problems like stalled projects, funding crunch faced by developers and homebuyer stress? ET's Kailash Babar has more. (Text: PTI/ET Online)
According to Sitharaman, "there is robust FDI inflows and record forex reserves. Fiscal deficit is improving and current account deficit is contained. There is revival of fixed investments already.
Finance Minister Nirmala Sitharaman Saturday introduced RoDTEP - Remission Of Duties for Export Products - to replace the existing Merchandise Export From India (MEIS). Revenue foregone as a result of RoDTEP implementation would be Rs 50,000 crore, she said. Sitharaman also announced interest equalisation for MSMEs to 5 per cent from 3 per cent. She said for small procedural defaults, small tax payers would not be prosecuted. The minister added that all communications with assesses will be through technology or complete faceless dealings. Listen-in. (Text: IANS)
Finance Minister Nirmala Sitharaman has announced a Rs 10,000 cr special window to boost affordable housing. The contributions to the fund will be sourced from the Govt, LIC, Banks and sovereign funds. Watch full report by ET NOW's Ruchi Bhatia
Finance Minister Nirmala Sitharaman Saturday presented a brief follow up on the government announcements made so far to fuel the economic growth. Listen-in.
"Aadhaar authentication of new dealers will be mandatory," Bihar deputy chief minister Sushil Kumar Modi, who heads the group of ministers of GST Network said.
Finance Minister Nirmala Sitharaman Saturday said inflation is under control and there is a clear sign of revival of industrial production. Addressing the third press conference to announce measures to boost economy, the minister said inflation has been kept "very much" below 4 per cent. Listen-in. (Text: PTI)
The funding will be for non-NPA and non-NCLT housing in affordable and middle income category.
In the last few weeks, government has announced a slew of measures to revive economy.
Earlier in July, the Centre changed the terms of reference of the 15th Finance Commission and mandated the panel to suggest ways for allocation of non-lapsable funds for defence and internal security.
“There is a shortage of enumerators and we are looking at some capacity building for core survey work,” said an official in the know of the details but said there are no numbers to corroborate how many statisticians the country can produce.
The country’s real GDP growth fell to an over six-year low of 5% in the first quarter of this financial year.
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