NEW DELHI: The new government will hit the ground running as it looks to get economic growth back on track by simplifying taxes, easing compliance and spurring demand.
The Reserve Bank of India, on Thursday, said it will allow large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of ₹5 per packet of 100 pieces to a higher rate subject to a maximum of ₹8 per packet.
Congratulating Prime Minister Narendra Modi on his win, FIEO President Ganesh Kumar Gupta said the exporting fraternity looks forward to his continuous guidance and support encompassing economic growth, sustainable & inclusive development for all based on robust fundamentals.
NEW DELHI: Bringing key petroleum products in the ambit of the Goods and Services Tax, easing licensing needs and taxation for upstream projects, enhancing third-party access to gas pipelines and helping in faster execution of city gas projects to stimulate gas demand in the country would be some of the key measures the new government may want to consider to energise the hydrocarbon sector.
The National Institute of Micro, Small, and Medium Enterprises (Ni-MSME) is organising a one-week training programme on strategic approaches for MSME development, media reports said.
Bucking trends overseas, where governments lost elections after launching the Goods and Services Tax (GST), India appears to have voted overwhelmingly for the ruling party, suggesting that the new indirect tax regime has been widely accepted as a major economic reform.