While the policy makers are busy finalizing the final draft of the most sought after document for the Indian economy, the Union Budget 2013-14, industry veterans like VP Mahendru, Chairman – Managing Director, Eon Electric Limited, are trying to raise their voices.
The government of Uttar Pradesh seems to have taken an active stance towards reforming policies for investments in the state and motivating the business fraternity. Akhilesh Yadav, Chief Minister of Uttar Pradesh, said that it is the state's priority to revamp investment-related policies across sectors.
At the onset of the Cabinet Budget 2013-14, the Confederation of Indian Industry (CII) has submitted its pre-budget memorandum on behalf of Indian MSMEs with the government and other policy makers. The memorandum has been presented as a 10-point agenda representing various issues faced by the Indian MSME sector.
The Union Cabinet Minister for Commerce, Industries and Textiles, Government of India, Anand Sharma recently announced the extension of its two percent interest subvention scheme on rupee export credit up to March 31, 2014. The scheme benefits SMEs across sectors.
The government is working to ensure that every opportunity benefits the country’s MSMEs. Speaking to SupportBiz, C.K.Mishra, joint secretary- SME, Ministry of MSME, Government of India emphasized on the action points that SMEs and policy makers need to focus on, to create a better business ecosystem for MSMEs. Edited excerpts:
The medical tourism sector in India is fast growing. According to some estimates, the size of this segment is close to Rs. 9500 crore. Dr. Dinesh Pendharkar, cancer specialist, Asian Institute of Oncology (SL Raheja Hospital), and consultant at Lilavati Hospital, Mumbai, has spent over 15 years in the domain of medical tourism.
The Maharashtra government may carry out a review of the state's road toll policy soon. Maharashtra Navnirman Sena chief Raj Thackeray disclosed this after a meeting with Chief Minister Prithviraj Chavan, in which he highlighted the problems faced by people daily.
The Coir Board is all set to boost the country’s exports of coir products through value addition and technological upgradation, reports Economic Times. This will also help coir firms expand their reach in the domestic markets, as well as support the small- and medium-scale units (SMEs), co-operative ventures and private firms.
Enthused by Finance Minister P Chidambaram's assurance of fine-tuning policies, industry body FICCI (Federation of Indian Chambers of Commerce and Industry) has said that this would help revive economic growth. "It is quite obvious that he means business and has immediately put himself in the task of re-igniting the growth triggers of the economy," said RV Kanoria, President, FICCI.
The Reserve Bank of India (RBI) kept key policy rates unchanged in the first quarter review of monetary policy announced on July 31. Following are the comments from experts on the monetary policy statement.