-The Times of India NEW DELHI: Retail inflation dipped to a record low in June on the back of sliding food prices, while industrial output growth slowed in May as manufacturing remained sluggish, mounting pressure on the RBI to cut interest rates when it reviews monetary policy on August 2. Data released by the Central Statistics Office (CSO) on Wednesday showed Retail inflation, as measured by the consumer price index (CPI), rose...
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Government approves Amazon's proposal for FDI in food Retail
-PTI NEW DELHI: The government has approved American e-commerce major Amazon's proposed USD 500 million investment in Retailing of food products in India, an official said. The proposal was pending before the Foreign Investment Promotion Board (FIPB) which has been abolished now. Hence, the Department of Industrial Policy and Promotion (DIPP) gives the green signal to the proposal. As per the proposal, the company will open a wholly- owned subsidiary in India to carry...
More »40,000 cloth artisans in Ludhiana stare at job loss as they fall out of GST chain -Sumeer Singh
-Hindustan Times Rehman, who is in the embroidery business for more than 15 years, is one of thousands of artisans who are unable to get work as they did not register under GST, as is required now, and neither have textile firms that sent them cloth to work on. Ludhiana: Tucked away in the outskirts of the industrial city of Ludhiana, in New Kundan Puri area, embroiderer Abdul Rehman is sitting...
More »Print post-GST rates on items or go to jail, government warns traders
-The Times of India NEW DELHI: The government on Friday warned manufacturer, importer and sellers of pre-packaged goods of penalties ranging from fines of up to Rs 1 lakh or prison terms up to a year for repeat offence of not printing the post-GST rates on product labels. The consumer affairs ministry has come out with the new norm for affixing the revised maximum Retail price (MRP) on the old stocks,...
More »Govt to introduce new product pricing rules that bar sales over MRP
-The Hindu From January 1, 2018, the price of a packaged goods would no longer depend on where you bought it – be it a local kirana store, a mall, a five-star hotel or an airport. The Consumer Affairs ministry has amended the rules that govern packaged commodities to this effect. As per the amended Legal Metrology rules for packaged commodities that will come into effect from the next calendar year, the...
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