Plan and Policy

Plan & Policy

Andhra number 1 in ease of doing biz; Telangana second

Andhra Pradesh has topped the ease of doing annual business ranking of states and Union Territories by the World Bank and Department of Industrial Policy and Promotion (DIPP). Telangana and Haryana are at the second and third positions, respectively, according to a statement issued by DIPP. Others in the top ten are Jharkhand (4), Gujarat (5), Chhattisgarh (6), Madhya Pradesh (7), Karnataka (8), Rajasthan (9) and West Bengal (10). Meghalaya was ranked last at 36th position.

3-day meet format of MPC to continue

The Reserve Bank of India on Tuesday said it will continue with the three-day meeting format of the Monetary Policy Committee (MPC) which decides on the key interest rate. The MPC, headed by RBI Governor Urjit Patel, used to meet for two-days, but last the meeting was stretched to three days owing to “certain administrative exigencies”.

The RBI said that the MPC “has decided to continue the practice of a three-day meeting format commencing on July 30, 2018 as was adopted in the meeting for the Second Bi-monthly Monetary Policy Statement of June 6, 2018”.

Govt dividing retail trade with new e-commerce policy: RAI

The Retailers Association of India (RAI) has alleged that the government is dividing retail trade into online and offline by introducing new e-commerce policy, while the country is moving in the direction of omni-channel. It rued that the body was not asked by the government to deliberate on the new policy.

“The Department of Industrial Policy and Promotion (DIPP) is considering a new policy for e-commerce just two years after it issued norms for the firms involved in online trade business following marketplace model since 2016,” said RAI.

Jio Institute’s Institution of Eminence tag conditional: Govt

Facing criticism for the selection of the yet-to-be-established Jio Institute by Reliance Foundation as an “Institution of Eminence”, the HRD Ministry on Tueday clarified that the tag was conditional and it would get only a letter of intent for now.

Chidambaram, Karti get relief from arrest till Aug 7; ED opposes bail

A city court on Tuesday ordered that former union minister P Chidambaram and his son Karti would not be arrested in the Aircel-Maxis deal related money laundering case till August 7, even as the Enforcement Directorate opposed the former’s anticipatory bail plea.

The ED opposed the bail application before special judge OP Saini in its written submission and sought time to argue the matter.

FMCG prices to go up in coming quarters

FMCG companies are likely to go for a price hike in the coming quarters as inflation and higher crude oil prices have started hurting the margins. “Most staple companies plan to take three to four per cent price hike during FY19 to pass on rising inflation costs,’ said Naveen Trivedi, Assistant Vice President of Institutional Equity at HDFC Securities.

Andhra number 1 in ease of doing biz; Telangana second

Andhra Pradesh has topped the ease of doing annual business ranking of states and Union Territories by the World Bank and Department of Industrial Policy and Promotion (DIPP). Telangana and Haryana are at the second and third positions, respectively, according to a statement issued by DIPP. Others in the top ten are Jharkhand (4), Gujarat (5), Chhattisgarh (6), Madhya Pradesh (7), Karnataka (8), Rajasthan (9) and West Bengal (10). Meghalaya was ranked last at 36th position.

Natural gas may come under GST earlier than expected

Natural gas may become the first of the five petroleum products to be included in the Goods and Service Tax (GST) regime ahead of an earlier agreed schedule, as the Centre and states come to a common ground on universal application of the new indirect tax system.

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