The Prime Minister will deliver the inaugural address at the Annual Session of the Confederation of Indian Industry (CII) to mark 125 years since its inception in 1895, sources in the industry chamber told PTI.
He said the Centre should also bear the state’s shares as most states are not in a position to give their share of Centrally Sponsored Schemes because of the crisis due to lockdown in the country.
DPIIT Secretary Guruprasad Mohapatra said the ecommerce is a fast emerging sector and it is difficult to predict where it will go in the next couple of years. He said the country do not have e-commerce policy and now the department is currently working on this.
The amendments to the FDI rules were necessitated on concerns among officials as well as businesses about possible takeover attempts at a time when share prices are down due to the COVID-19 crisis.
The eight core sectors had expanded by 5.2% in April 2019, the data released by the Commerce and Industry Ministry on Friday showed.
India has rejected Beijing’s allegation and said that it was the Chinese troops that was hindering normal patrolling by Indian troops along the Line of Actual Control.
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fund interest on working capital loans.
The Reserve Bank of India too has notified the Cessation of 7.75 per cent Savings (Taxable) Bonds, 2018. Interest on the Bonds is taxable.
Though cyclone Amphan caused severe damage in some parts of West Bengal including Haldia, the port town in East Midnapore district, the petrochemicals major managed to continue its operations, he said.
Fitch said it has made further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO) for May, but the slump in global economic activity is close to reaching its trough.