-The Hindu The automobile industry is in the grip of an unprecedented crisis. The downturn in the economy has led to a dip in production and huge job losses across the country. July was a difficult month for 28-year-old Rohit Rana. Since 2012, Rana had been employed in a diesel machine shop at Maruti Suzuki’s Gurugram plant in Haryana. As the eldest of three siblings, it became Rana’s responsibility to take care...
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Adopt a green growth strategy to boost the sluggish automobile sector
Among the measures announced by the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman on 23rd August, 2019 to arrest economic downturn, the following are noteworthy: * Allow Bharat Stage IV (BS-IV) vehicles (which are purchased till 31st March, 2020) to remain operational for the entire period of registration; * Government shall lift the ban on purchase of new vehicles for replacing all old vehicles by its various departments; *...
More »RSS' labour wing opposes bank merger, says govt hasn't learnt from earlier mistakes -Ramesh Babu
-Hindustan Times The Bharatiya Mazdoor Sangh (BMS) said it will support the agitation being planned by United Front of Banking Unions against the government’s decision to merge ten banks. Thiruvananthapuram: The Bharatiya Mazdoor Sangh (BMS), labour wing of the RSS on Saturday criticised the bank merger plan announced by Union Finance Minister Nirmala Sitharaman saying it was done without any study and it will only protect interests of corporate houses. “No serious...
More »Corporate tax reduction: They already pay much less than required effective -Subodh Varma
-Newsclick.in Effective tax rate for Big Business in India was 26.3% although statutory rate is 34.6%, according to Budget documents. There is a proposal that corporate taxes should be reduced to 25% from 30%. According to reports, this has been mooted in a report submitted to the finance minister by a panel headed by Akhilesh Ranjan, member of the Central Board of Direct Taxes (CBDT). However, data on corporate taxes put out...
More »Rajya Sabha clears changes to Insolvency Code
-The Hindu The Upper House offers relief for home buyers New Delhi: The Rajya Sabha on Monday passed an amended version of the three-year-old Insolvency and Bankruptcy Code (IBC). The amendments seek to end ambiguity and streamline the resolution process further. It also gives home buyers the status of a creditor giving them a say in the resolution in case a housing project goes bust. Replying to the debate on the Insolvency and...
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