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Govt To Amend Laws To Enforce Contracts Better

New Delhi: The Centre has cleared major legal moves to improve the regime for enforcement of contracts, which can extend from a dispute between road contractors and its vendor to one involving a multinational.

The changes were being discussed for over a year but the law department was seen to be a reluctant reformer. But finally the government got its act together following an intervention by finance minister ArunJaitley, who got various government agencies to agree to the changes. 

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PM Modi Wants Foreign Investors In Food Processing

New Delhi:Inaugurating World Food India 2017 in New Delhi on Friday, MrModi Prime Minister NarendraModi has invited foreign investors to be a part of India's exciting growth journey in food processing sector and assured them of government's whole-hearted support. 

He said starting business in India is easier than ever before as procedures have been simplified, archaic laws repealed and compliance requirements reduced.

MrModi pitched India as one of the fastest growing economies of the world today. He further said that the introduction of Goods and Services Tax has eliminated the multiplicity of taxes.

60

Jaitlely Emphasises On More Global Entities, Banks Joining Hands With ISA

New Delhi:  Finance Minister Arun Jaitley has stressed on the need for more and more multilateral institutions and development banks joining hands with the International Solar Alliance (ISA) to promote renewable energy.

He was speaking at the signing of Joint Financial Partnership Declaration between ISA and the European Bank for Reconstruction and Development (EBRD) to deepen the cooperation in support of renewable energy.

Observing the first financial partnership collaboration of ISA with the World Bank, Jaitley said "more and more multilateral and development banks should come forward and join hands with ISA" in help fulfilling the objectives of massive and affordable deployment of solar among 121 ISA member countries.

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India's Current Account Deficit To Be 1.5% Of GDP This Fiscal

New Delhi: India's current account deficit (CAD) for this financial year is expected to be around $40 billion, or 1.5 per cent of GDP, according to a Nomurareport.

India's current account deficit (CAD) rose sharply to $14.3 billion -- 2.4 per cent of GDP -- at the end of first quarter of 2017-18.

In general terms, CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on the exchange rate.
According to the Japanese financial services major, July-September CAD is expected at about 1.6 per cent of GDP and accordingly, CAD for the first half of this fiscal (April- September) is likely to be around 2 per cent of GDP.

13

India Jumps 30 Notches, Breaks Into Top 100 In The ‘Ease Of Doing Business’

New Delhi: India has jumped 30 places to rank 100th in theWorld Bank's 'ease of doing business' ranking. 

India, which was ranked 142nd when the NarendraModi government took office in 2014 and 130th last year, is the only large country this year to have achieved such a significant shift on the back of reforms in taxation, construction permits, investor protection and bankruptcy resolution.

The World Bank said it is "one of the top 10 improvers in this year's assessment, having implemented reforms in 8 out of 10 'doing business' indicators." This is the first time India has broken into top 100 nations.