สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 18 พฤษภาคม 2555
Thai team in Ahmedabad to learn growth mantra
A delegation from Thailand, headed by the ambassador to India Pisan Manawapat, was in the city to explore development works in Ahmedabad. The Ambassador followed a detailed presentation on Sabarmati riverfront and the many IT projects allied to civic delivery services in the city.
Among those who were part of the delegation were Tomwit Jarson, a Thai consul in Mumbai, executive director Thai Trade Center Abdul Chotinisakorn, minister counselor Sasirit Tangulrat, chief of economic and business section Chamsai Menasveta and two other executives Khanin Boonyasopat and Kanokporn Kunnawattana.
The delegation visited the BRTS control room and saw the IT- and GPS-aided systems. The delegation then took a ride on the BRTS bus.
(Source: Times of India, Indiatimes, Newspolitan, i4u, Newsrack)
Govt should stay off land acquisition for pvt projects: Panel
The government is likely to reject 'radical' recommendation of a parliamentary panel that proposed tighter norms for acquiring land for private businesses.
In a report tabled in Parliament on Thursday, the Standing Committee on rural development has recommended key changes to the Land Acquisition, Rehabilitation and Resettlement Bill, proposing to bar the government from acquiring land for industrial use.
The panel recommended that states keep away from land acquisition for private or public-private partnership purposes. It narrowed down the meaning of ‘public purpose’ to linear infrastructure (rail, roads), irrigation and social ventures (schools, hospitals) financed by the state.
It also proposed 16 central laws on acquisition for SEZs, railways, highways and defence establishments be brought under the bill.
(Source: Livemint, IBNLive, Hindustan Times, Economic Times)
GAAR provisions to be part of DTC, to come into effect in April 2013
The General Anti-Avoidance Rule (GAAR), approved under the Finance Act, will be part of the Direct Taxes Code (DTC) Bill to be tabled in the monsoon session of Parliament. The finance ministry plans to implement both GAAR and DTC from April 1, 2013. However, if the implementation of DTC is again deferred, the government will introduce GAAR under the Income Tax Act next year.
The Finance Act, introducing GAAR provisions to check cases of tax avoidance, has already been cleared by Parliament. However, DTC, which is set to replace the 50-year-old Income Tax Act, is yet to be tabled in Parliament. This would be done after incorporating the suggestions of the standing committee on finance.
(Source: Business Standard, Moneycontrol, Rediff, Economic Times)
CPI-based inflation data: A good start, but a long road to stabilisation
In its annual policy, the Reserve Bank of India (RBI) had taken cognisance of the recently-released inflation numbers based on the consumer price index (CPI). However, it would take three to five years for the new series to stabilise. The CPI data for April is scheduled to be released tomorrow.
The CPI inflation series is much wider in scope than the one based on the wholesale price index (WPI), as it has both rural and urban figures, besides state-wise data. The new series, with 2010 as the base year, also includes services, which is not the case with the WPI series. Though currently there are three separate CPI index-based inflation rates, these are segmented, catering to rural labourers, agricultural labourers and industrial workers.
(Source: Bloomberg, Business Standard, Smartinvestor)
3G tariff war imminent as Bharti cuts rates up to 70%
In an aggressive bid to improve the slow uptake of 3G services, the country’s largest mobile operator, Bharti Airtel, on Thursday slashed tariffs in various plans by as much as 70 per cent across circles. The move is expected to kick off a price war, with other operators working out their plans of action.
Nearly 18 months after 3G mobile services were launched, the number of 3G subscribers is merely 15-20 million, which constitutes less than two per cent of the total GSM subscriber base of 919 million.
The company is aggressively pursuing the data market and has launched 4G services in two circles, Kolkata and Bangalore. 4G services offer speeds much higher than 3G but there is no voice service in 4G.
The whole telecom industry has been battling intense competition, with dipping profits.
(Source: Business Standard, Indiatimes, Smartinvestor, Indianews24)
Economic Section
Royal Thai Embassy
