Citizens' Issues
Make in India Week in Mumbai from February 13
A Make in India Week 2016 will be organised in Mumbai from February 13 to give further momentum to the initiative, which has seen the country trump the US and China by attracting FDI worth $31 billion in 2015's first half, a top official said on Thursday.
 
Secretary, Industrial Policy and Promotion, Amitabh Kant said the event, aimed at promoting India as a big investment destination and increasing its share in global foreign investment, would be inaugurated by Prime Minister Narendra Modi.
 
"Make in India Week will be the biggest such promotional effort so far in India. Over a 1,000 companies are expected to showcase their achievements, while 70 countries will be participating," he said, adding that the theme of the event, to be held at the Bandra-Kurla Complex, would be "Innovation, Design and Sustainability".
 
In the first half of 2015, while China attracted overseas capital of $28 billion, for the US the figure was $27 billion, Kant said. Foreign direct investment (FDI) into India has witnessed a 35 percent increase during the last 17 months, compared to the same period earlier, he said.
 
The Mumbai event will also have various states and sectors making a pitch for investments through specially organised seminars.
 
America's Time magazine will for the first time give away their Time India Awards selected under the three separate categories of innovation, entreprenaurship and intelligent manufacturing, Kant added.
 
He said his department plans to hold more road shows across India to push domestic manufacturing. The department will hold a series of meetings over the next two months with corporate chiefs in each state to take stock of issues holding up projects.
 
Beiginning with Maharashtra, roadshows will follow in Gujarat, Tamil Nadu, Karnataka, Haryana and Rajasthan.
 
"Despite global slowdown, India's FDI should grow at around 30 percent," Kant said.
 
"Our overall objective is that the share of manufacturing in India's economy should go up to 25 percent. India is the only country where growth has been driven by services, but these don't create jobs in dimensions we need," he said, adding that the Boston Consulting Group had said in a report that manufacturing in India had become one of the most competitive in the world.
 
US-based Forbes magazine in their latest annual list of the best countries for doing business in 2015 has ranked India 97th out of 144 nations, behind Kazakhstan and Ghana, scoring poorly on categories like trade and monetary freedom and tackling challenges like corruption and violence.
 
Forbes said that while the country is developing into an open-market economy, traces of its "past autarkic policies" remain.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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'Final GST draft coming soon, exemptions drastically cut'
The finance ministry will shortly roll out the final draft of the Goods and Services Tax (GST) bill after drastically pruning the list of central exemptions, an official said here on Thursday.
 
"The government will roll out the final GST draft paper in the public domain very soon," said Special Secretary (Revenue) Rashmi Verma, addressing 'Indirect Tax and GST Conference: Recent Developments in India', without revealing the exact timeframe.
 
Verma said the government would drastically prune the list of exemptions currently being enjoyed by the industry as incentives for business expansion in hilly states and north-eastern part of India.
 
Reduction in exemptions would result in seamless flow of goods and services tax and substantially arrest its cascading effect, she said.
 
"Tax exemptions until now extended to industry for their expansion and diversification will have to go with GST legislation becoming a reality," said Najib Shah, chairman, Central Board of Excise and Customs (CBEC). 
 
Verma also said a large number of concerns and issues raised by the industry concerning GST had been addressed at the conference which was organised by PHD Chamber of Commerce and Industry.
 
With the basic draft of GST bill already present in public domain, the government has been engaging with state governments and the industry to take a balanced view of the concerns and issues of the stakeholders, she added.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

Ganesh Kamat

12 months ago

GST SIMPLIFIED....

Tax Reform Simplified,
Only 1% Tax on Receipt to get
more Taxpayers, Tax collections & more VOTES too.

1) For Big Tax collections,
take 1% Tax from 20 Taxpayers,
than 20% Tax from one Taxpayer.

2) Simple Tax of 1% on Receipt /Transaction /Interest /Sale
/Gift /Loan /Benefit /Salary /Dividends /Rent /Custom.....
any & all inward cash, Cheque etc.

3) Average say on Rs. 30 L Receipt,
Pay Rs. 0.3 Lac Tax per year.
If Taxpayers = 60 Cr.
Tax collection will be 18 L- Cr.

4) Simple Tax means more Taxpayers, more collection & No refund Problem.

5) At present, we have say @ 3 Cr Taxpayers,
with Collection of say @ 3.5L-Cr,

6) So with 1% Tax, the Taxpayers will work to improve Business / Goods Services/ R.&D./
Social work.So more Employment, make in India, less Farmer Suicide & Peace of mind to the people.

7) Bank Account number is your mobile number.

8) Tax payment by your mobile number @ RBI a/c,
In bank transaction, the Bank will deposit your 1? Tax by your mobile number @ RBI a/c directly.

9) For cash Transaction pay similar to Post paid Mobile charges,
to your mobile number @ RBI a/c.
Most will pay if the Tax is 1% & simple to pay.

10) Your Bank Account Number should be mobile number & connected to PAN/ AADHAAR /Passport/ Election Card etc.
For Simplicity.

11) Tax collection will be distributed to State & Local bodies, say 10% each, from the place of collection.

12) Also add 1% more (L.P.F.)
Less Privilege Fund,
similar to PPF for,
social / self benefit,
to give Power to the people for Social Cause / in your bad days.

13) In short Pay Rs. 20- for every Rs. 1,000- Received.

i) Rs. 10- as tax to RBI
ii) Rs. 10- in your (L. P. F.) a/c. Could be use for social cause/ for your bad days.

14) L. P. F. (Less Privilege Fund)
of 18 L- Cr, with 60 Cr voters, will reduce dependency on the Government for the Social development.
Fund will be used for the Social cause / in your bad days.

15) Keep faith in 60 Cr voters, as they will take care of their neighbours, in need.
Also most will pay, if Tax is 1? & Simple to pay.
Only Indian can make better India.

16) Can consider more tax for Higher Receipt, say above 0.5 Cr per year, payable at the year ending.

17) All Transactions are Traceable as mobile number is once Bank a/c number & connected to PAN/ AADHAAR
/ Election card.....
So, No Corruption & Black Money Problem.

18) Babus Harassing the youth,
Traders, Voters.. who wants to work.
Babus are ruthless as they
pay "Protection Money" to......?
for Posting/ Promotion/ Permit...
Administrations Reform is a Must.
For getting Votes.

19) Farmers suicide can get reduced, by encouraging them to sell their farm products on Railways to commuter
& roads to motorists, also we need more Passenger Train, to help farmers to sell farm products, to nearby Towns.

20) Expecting Feedback on How to make India Peaceful Place by Refined, Simple Laws.
No blame game please.
Media/ Babus /Netas /Judicial Role is Eminent along with People.

For "Sare Jaha Se Achha Hindustan Hamara." forward this message.
_____________________

Google to train two million Android developers: Pichai
Global internet search engine giant Google will train two million new Android developers in the next three years, its chief executive Sundar Pichai said here on Thursday.
 
Pichai is on a three-day visit to India. 
 
Speaking at the Shri Ram College of Commerce (SRCC), the Indian-origin CEO said: "As per the new plan (by Google), we will train two million Android developers in partnership with 30 universities. This will be done over the time period of next three years."
 
"For me, getting many developers in the workforce are going to solve many new things." 
 
Talking about the public Wi-Fi project which he announced on Wednesday, Pichai said he was very excited about it. 
 
It is the largest (such) project in the world wherein 400 railway stations will get Wi-Fi internet, he added.
 
"The reason we are doing it is that in India when you bring access to internet it changes lives of people," Pichai said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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