449

Moody’s Says FDI Likely To Rise Further After GST

New Delhi: International ratings agency Moody's has said that India is likely see increased foreign direct investment (FDI) inflows on the back of reforms such as introduction of the goods and services tax and the bankruptcy code.

"Combined with reforms such as the introduction of a goods and services tax, which lowers the cost and complexity of doing business, and a simplified and clarified bankruptcy code, FDI is likely to rise further," the agency said in its report on how structural reforms by Asia Pacific sovereigns could become more effective from stronger global demand.

415

Manmohan Attacks Govt On Note Ban And ‘Hasty’ Rollout Of GST

New Delhi: Former Prime Minister Dr Manmohan Singh has again warned of demonetisation and "hasty" implementation of GST adversely impacting GDP growth.

Singh, who had previously cautioned against note ban shaving off 2 per cent of GDP, said demonetisation of 86 per cent of the currency in circulation and the hasty implementation of the Goods and Services Tax (GST) have impacted informal and small scale sectors, which account of about 40 per cent of the USD 2.5-trillion economy.

"Both demonetisation and the GST have had some impact (on GDP growth)," he said. "Both would affect the informal sector, the small scale sector... the sectors today are responsible for 40 per cent of GDP."

390

Govt Likely To Raise Over Rs 15K Cr From IPO Of 2 PSU Gen Insurers

New Delhi: Initial public offering of the two state-owned general insurance companies may yield over Rs 15,000 crore to the exchequer.

Out of the five state-owned general insurance companies, New India Assurance (NIA) and GIC Re are gearing up to hit the capital market over the next few weeks.

The government had estimated to garner about Rs 11,000 crore by diluting its stake in insurance companies as part of disinvestment plans for the current fiscal.

In view of the current market condition, the government may easily get Rs 15,000 crore by diluting stake in these two companies, adding it could be upwards of Rs 15,000 crore.

355

The Controversy around the Fuel Price Rise in India

New Delhi: The rise in petrol and diesel prices has been making news for the last week or so. Change in fuel price has impacted the daily budget to macroeconomics like inflation numbers of the nation. 

On this, Oil Minister Dharmendra Pradhan, last week ruled out any government intervention to disrupt the daily revision in petrol and diesel prices saying the reform will continue.

Pradhan maintained that the criticism of the government for the spike is unfair and also the present spurt is a temporary phenomenon. In fact after introduction of daily changes in petrol and diesel prices, there was a period when the prices fell continuously for a fortnight or so and nobody at that time complained.

330

Minister Says Digital Economy To Offer 5-7 Mn Job Opportunities

New Delhi: Electronics and IT Minister Ravi Shankar Prasad has  said that  India’s burgeoning digital economy is expected to provide job opportunities to about 50-70 lakh youth in the country by 2020.
Prasad said it is important to have affordable and inclusive technology to ensure growth and prosperity for the masses.

Speaking at the Digital Haryana Summit in Gurugram, he said the country’s digital economy is growing fast and by 2020 it is expected to provide job opportunities to about 50 to 70 lakh youth.