To give a boost to the labour-intensive textile sector, a high-level expert panel constituted by the Commerce Ministry has recommended a review of free-trade pacts with countries such as Bangladesh that have zero-duty access to the Indian market, amendment of labour laws to allow flexibility in hiring and firing and fast-track disbursal of subsidies for technology upgradation.
The Confederation of Indian Textile Industry (CITI) plans to appeal to the new government to provide policy support to the textile and clothing (T&C) industry.
NEW DELHI: Return forms proposed for the goods and services tax (GST) are set to put an end to one of the widely used methods for tax evasion—claiming rebate for tax that was not paid in the first place.
The government proposed to bring down its holding in state-owned banks by launching an exclusive PSU Banks ETF (Exchange Traded Fund), sometime at the end of the third quarter period of the current financial year, said a news agency report quoting sources said.
Congratulating Narendra Modi for leading the NDA to a convincing victory in the Lok Sabha elections, ASSOCHAM President B K Goenka said the second term of the government would be highly beneficial for the economy.
The Indian rupee opened higher by 11 paise at 69.72 per dollar on Thursday versus previous close 69.83.