สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 28 พฤษภาคม 2556
FDI inflows into
Much-touted foreign direct investment (FDI) reforms notwithstanding,
This is in sharp contrast to 2011-12, when FDI inflows grew 64 per cent from $21.4 billion, despite the fact that the year saw some controversial decisions like retrospective amendments to the Income Tax Act.
Analysts said one year’s data could not substantiate whether reforms are yielding results or not and one would have to wait longer to assess a trend.
(Sources: Business Standard, Smart Investors, About
GST roll-out may face fresh delays
Differences in the levels of computerization among state administrations may force the Union government to drop its plan of migrating the existing value-added tax (VAT) regime to the information technology (IT) network being put in place to serve as the backbone of the goods and services tax (GST).
The initial plan was to migrate VAT to the network to test preparedness before the eventual roll-out of GST, aimed at removing barriers to the movement of goods and services across states and creating a unified market.
Given the low levels of computerization in some states, the GST network (GSTN) will now focus first on developing a database of dealers based on the permanent account numbers (PAN) issued by the income-tax department. With this migration timetable delayed, the actual roll-out of GST may take longer than anticipated.
(Sources: Livemint, Rediff News)
Effective governance can propel growth to over 8%: Chidambaram
The country's economy will continue to grow at 5-6 per cent "regardless" of what government does or doesn't do, but with effective governance it can rise to over 8 per cent, Finance Minister P Chidambaram said today.
The country should focus on ensuring the conditions for economic growth remain "intact", he added.
Chidambaram was speaking at the first edition of Excellence in Financial Journalism awards, organised by Chennai-based Shriram Group. The Finance Minister also said that steps like efficient use of money and design of projects can propel the growth rate to 9 per cent.
(Sources: Economic Times, Indiatimes, Business Today , Moneycontrol)
Reeling under severe financial sanctions,
"
Offering to cooperate with
(Sources: Economic Times, Indiatimes, Times of
Seeking to boost mutual cooperation,
The issue of early conclusion of the Bilateral Investment Promotion and Protection Agreement (BIPA) was discussed between the visiting minister and Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE Armed Forces.
BIPA, according to sources, is aimed at encouraging flow of investments into
Chidambaram, according to a statement issued by the Indian embassy, "assured that Indian Government would look into some of the issues faced by UAE investments in
(Sources: Economic Times, Indiatimes, DDI News, Free Press Journal)
Commerce Ministry officials visiting
Bridging the widening trade deficit with
Rao, who will be leading a team of government officials, is also expected to discuss other issues related to the services sector.
"Indian IT industry face problem in doing business in
While India's export to China were only USD 13.52 billion in 2012-13, its imports from that country during the period aggregated USD 54.3 billion, leaving a trade deficit of USD 40.78 billion.
(Sources: Economic Times, Indiatimes, Hindu Business Line, About
Economic Section
Royal Thai Embassy