"We do not need to be shoemakers to know if our shoes fit and just as little have we any need to be professionals to acquire knowledge of matters of universal interest."
- Wilhelm Friedrich Hegel
As per World Bank’s biannual economic updateSouth Asia Economic Focus,
India's GDP growth will remain 7.6 % in 2016 and 7.7 % in 2017.
International Monetary Fund (IMF) has forecast India’s GDP
growth at 7.6 % for FY17 (2016-17 ) and FY18 (2017-18) in its World Economic
Outlook (WEO) report.
As per BSE Data on Market Capitalization
TCS
Reliance Industries
HDFC Bank
ITC Limited
ONGC
were ranked as the 1st,
2nd, 3rd,4th ,5th most valuable
company respectively.
Finance Ministry has set up a Public Debt Management Cell
(PDMC), with a view of streamlining government borrowings and better cash
management for deepening bond markets. It has been planned to upgrade PDMC to
Public Debt Management Agency (PDMA) in another 2 years.
Goods and Services Network (GSTN) and Director General of
Foreign Trade (DGFT) signed a Memorandum of Understanding (MoU) for sharing of data
on foreign exchange realisation and Import Export code data.
Government proposed 4 GST rate slabs for new indirect tax
regime namely:
Standard GST rate of 18 %
6 % - Costly items and necessary food items
12 % - FMCG and Food Items
26 % - Luxury Items
India's foreign exchange reserves reached a record new high
of USD 371.99 billion
Incorporation of companies made simpler by MCA through
introducing Simplified Proforma for Incorporating a Company Electronically
(SPICe) e-Form-32, where Memorandum and
Articles of Association need to be filed electronically,
Reserve Bank of India (RBI) permitted startups to raise
external commercial borrowings (ECBs) of up to $3 million in a financial year
for three year tenure.
Telecom Regulatory Authority of India (TRAI) recommended
Department of Telecom (DoT) to impose penalty of 3,050 crore rupees on Bharti
Airtel, Vodafone and Idea cellular, for
non-compliance
of licence conditions and service
quality norms and high rate of call failures and congestion at
interconnect points for Reliance Jio with ulterior motive of stifling competition
22nd Issue of Annual issue of India's External
Debt has stated that India's External debt is currently US$ 485.6 billion at
end of March 2016, increasing by US$ 10.6 billion over previous year.
Food and Consumer Affairs Ministry issued
guidelines to regulate direct selling and multi-level marketing businesses to
protect consumers from Ponzi frauds, titledDirect
Selling Guidelines 2016 framework following SEBI notifying that it does not have purview
to regulate ponzi schemes
Andhra Pradesh stood first among states in
attracting industrial investments in 2015-16.
Reliance Communications (RCom) and Maxis
Communications Berhad (MCB) signed a deal for the merger of wireless business of
Aircel Limited with Reliance Communications (RCom). Merged entity will be
country’s fourth-largest telecom company in terms of customers and revenue.
Bombay Stock Exchange (BSE) filed IPO papers
with market regulator Securities and Exchange Board of India (SEBI) for its Initial
Public Offering (IPO). The move is first of its kind by any stock exchange in
India.
Asian Development Bank (ADB) sanctions $631
million loan for India’s first coastal industrial corridor between
Visakhapatnam (Vizag) and Chennai.
Cabinet Committee on Economic Affairs (CCEA)
approved winding up of Hindustan Diamond Company Private Limited (HDCPL)
Cabinet Committee on Economic Affairs approved
‘Project SAKSHAM’ as the New Indirect
Tax Network (Systems Integration) of the Central Board of Excise and Customs
(CBEC). The total cost of the project would be 2256 crores, to be incurred over
7 years.
Central Board of Direct Taxes collected Rs.
65,250 crores as part of the Income Disclosure Scheme 2016.
Goods & Services Tax (GST) Council decided
to exempt businesses with annual turnover below20 lakhout of GST net.
Government approved drought assistance of Rs.
1269 crore for Maharashtra.
formation of Goods and Services Tax (GST)
Council and Creation of the GST
Council Secretariat in New Delhi approved by Government
As a part of budget reforms, Government
approves merger of Railway budget with General budget and removal Plan and
non-plan expenditure bifurcation in the union budget.
Government approved simplification of Foreign
Direct Investment (FDI) Policy 2016. Some prominent changes are:
FDI beyond 49% has been permitted through
government approval route, in cases giving access to modern technology for the
country or for other reasons.
Entities undertaking single brand retail
trading have been relieved from local sourcing norms up to 3 years that were
put earlier. Entities in single brand retail trading of products having
‘state-of-art and ‘cutting edge technology have been relieved from local
sourcing norms up to 5 years.
Government approved to raise 31300 crores in FY
2016-17 to boost infrastructure spending.
Government notified constitution of Six Member
Monetary Policy Committee (MPC) with
Government raised salary cap of beneficiaries
to Rs.21,000 per month from Rs.15,000, to be eligible for Employees State
Insurance (ESI).
Department of Commerce amends Merchandise
Exports from India Scheme (MEIS) to give furtherfillip to exports.
New products introduced under the ambit of MEIS
to take the total coverage to 7103 item.
HDFC Bank named India’s most valuable brand by
the BrandZ Top 50 list released by WPP Group.
Whatsapp message shared with me in a group on 18/11/2016 Succint explanation for how Spirituality transcends Religiousity
கடவுளை
காண்பது
எப்படி???
ஓஷோவிடம்
ஒரு Super
Question,,,,,
காண்பது என்பது இங்கே தவறு.
கடவுள் ஏதோவொரு ஆசாமி என்பதைப் போன்று பதிப்பினை இது ஏற்படுத்துகின்றது. அவரை பார்க்க என்றொரு கருத்தை இது தருகின்றது
இதைப் போலத்தான் கடவுள் எனும் வார்த்தையும் இதுவும் கூட ஒரு நபரை குறிப்பதைப் போலத்தான் பயன்படுத்தப்படுகின்றது.
கடவுள் கிடையாது. இறைமை தான் உள்ளது. கடவுள் என்பவர் நபர் அல்ல அது சக்தி. எல்லையற்ற சமுத்திர அளவு சக்தி.
கடவுள் தன்னைத்தானே அனைத்து வடிகால்களாகவும் வெளிக்காட்டிக் கொள்ளும், எல்லைகளே இல்லாத முடிவற்ற பிரக்ஞை.
ஒரு படைப்பாளி,, என குறிக்கவல்ல தனியொரு நபர் கிடையாது கடவுள்.கடவுள் தான் படைப்பு. படைக்கும் திறன் வாழ்க்கை.
நான் எனும் அடையாளம் கரைந்து காணாமல் போய் விட்டால், முடிவற்ற, எல்லையற்ற, படைப்பாற்றல் மிக்கதொரு வாழ்க்கை விசை நமக்குள் அனுபவமாகின்றது. அதுவே கடவுள்.
நான்,, என்னும் திமிரின்சாவில் ஒருவன் கொள்ளும் அனுபவமே சாமியின் தரிசனமாகும்.
அதனுள் நீங்கள் இருப்பீர்கள். நீங்கள் தான் அது. பிரபஞ்சம். அனைத்தும் உங்களுக்குள்.இந்த அனுபவம் தான் "கடவுள் தரிசனம் "
கடவுளைப் பற்றிய என்ன காட்சியை நீங்கள் காண முடியும்?கடவுளுடன் ஒருவன் தனக்குள்ளேயே கலந்தாக வேண்டும்.
ஒரு நீர்த்துளி சமுத்திரத்தைப் பற்றி என்ன தரிசனத்தை பார்க்க முடியும்? ஆனால் அது தன் அடையாளத்தை இழந்து விட்டு சமுத்திரமாய் ஆகி விட முடியும்.
அதற்கும் சமுத்திரத்திற்கும் இடையே நிரப்ப முடியாத நீண்ட இடைவெளி இருக்கும். ஆனால் அது தனது அடையாளம் முழுவதையும் விட்டு விட்டு சமுத்திரத்தில் கரைந்து விட்டால், அதுவேதான் சமுத்திரம்.
கடவுளைத் தேடுகின்றீர்களா? கடவுளாய் எப்படி மாறுவது என்பதற்கான வழியை தேடுங்கள்.
இத் தேடுதலுக்கான பாதையும், சமுத்திரத்திலே கலக்க ஒரு நீர்த்துளி மேற்கொள்ளும் பாதையும் ஒன்றுதான்.
Another famous composition in Raga Shanmukhapriya by T.K.Bala sung by Trichur brothers. No words to describe the beauty in the Bhavam brought by these precocious people.
RBI
estimates India’s growth rate to be 7.6% for FY 2016-17 in its annual report
for the FY 2015-16.
After
Assam, Bihar ratified the Constitution 122nd Amendment Bill for the
introduction of GST in the country.
Cabinet
approved foreign Investment through automatic route in NBFC-s entity which are
regulated by any financial sector regulators. Those not regulated will have to
get the approval of FIPB approval.
Centre
notified Inflation target of 4% until 2021 with an tolerance band of +/- 2%
i.e. 6% or 2%. If CPI is out of this range for 3 consecutive years, it will
constitute a monetary policy failure.
Hindustan
Copper Limited launched India’s first Nickel producing facility at Ghatshila,
Jharkhand
Centre
imposes a penalty of USD 380 Million(Rs. 2500 Crore) Reliance industries
limited for failing to achieve the target production at KG D6 fields.
India’s
economic growth rate in first quarter of 2015-16 is 7.1%.
Jharkhand became first state to implement
Public Fund Management System (PFMS), which aims tracking fund disbursement on
real time basis from government to various levels.
Sports channel Ten Sports sold by Zee Entertainment Enterprise (ZEEL) to
Sony Pictures Networks for $385-million (about Rs 2,579 crore)
Parliament passed Enforcement of Security Interest and
Recovery of Debts Laws Amendment Bill 2016. It amends Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest
(SARFAESI) Act, 2002,Recovery of Debts due
to Banks and Financial Institutions Act (RDDBFI), 1993,Depositories Act, 1996,Indian Stamp Act,
1899. It allows District Magistrate (DM) to take
possession of the collateral of the defaulter within 30 days of default.
Reliance Cement Company Private Limited accquired by Birla
Corporation Limitedfor 4800 crore rupees
RBI launched http://sachet.rbi.org.in/
which facilitates people to know
about entities allowed to collect deposits.
Securities and Exchange Board of India (SEBI) told Supreme
Court that Ponzi schemes are not under its ambit and the respective State Governments are law
enforcement agencies to curb Ponzi Schemes in response to SC’s question
that what government and SEBI were
doing to curb the menace of ponzi schemes.
Goldman Sachs has predicted Indian economy to grow at 7.9% in
2016-17.
Syndicate Bank, launched fund transfer based on ‘Aadhaar
Number through NUUP(National Unified USSD Platform)’, using an ordinary mobile phone
without internet connection.
I was very excited looking forward to have the darshan of Balaji Sir, who made it to the event in White shirt and Vetti arousing pride in me. ( I said to myself “Thamizhan da”. It was after that he said the reason behind his costume for the day. :P)
To tell about the lecture, it was an eye-opening talk by Balaji Sir at IIT-M. It is not the first time that I negate the fairness of our educational system, which is supposed to develop wise humans out of children. In fact, most of us would heresy our educational system. But when someone pinpoints the flaws and with comes up brilliant solutions to cleanse the dirt, it inspires us. Needless to say, Balaji sir inspired us on 13th August 2016 at Central Lecture Theatre of IIT-M.
I would quote some of the bright ideas that were emitted out of his wisdom that day.
· “62,290”
This is the number of Student suicides that happen every year in India.
My thought: Education is one among the instruments that Homo sapiens use for evolution. But the way we conceive and boil tender minds is reflected in the obscenity of the fact. This fact simply tells that all the while we have taught children that to fail is to get humiliated losing our worth.
· More suicides happen in the age group “15-29” than any other age group.
· The nation’s youth population is 35 Crore. This is more the combined youth population of the nations USA+ Russia+ China+Japan.
· Failure of proper nurturing of this power would boomerang. The uncared youth might have to resort to wrong ways to subsist and he is a threat to the society.
My thought : The fact is already evident from what we see across nation where the youths of nation resort to harsh ways to get their demands fulfilled – Kashmir backlash, Bus day celebrations in our own Chennai etc… We should be reminded of the fact It is our non-inclusive system that stands as the epicenter for the problem. Until the cause is cured, the effects out of the cause will rise again and again.
· Quoting “Daniel Pink” from his book “ The whole new thing”, he said Indians are now at conceptual age, where creation, metacognition and innovation plays a sound role. We fail to teach children how to implement theory in practice.
“ In theory there is no difference between theory and practice; in practice there is. “
· Indians created more startups than anyone else in silicon valley.
· 1/3 rd of the silicon valley startups are of Indians.
During the interaction session with audience, he shared his thoughts on startups which are as follows :
· Donot quit too soon.
· Anything good would see excess demand. It is up to you to distinguish yourself.
· Don’t hesitate to start up when you are a student. As a student your mistakes will be tolerated.
· If you want to start, do it right now.
· Marks are absolutely trivial to judge someone’s caliber.
· It is completely unfair to let a 15 year old to put under pressure and make him choose a avenue that he should pursue after his 10th grade. At the best, he can have a hypothesis.
Even after the formal interaction session, he was so polite that he addressed informal questions asked to him with absolute humility. Something we all should observe, when knowledge combines with humility, nothing can be more beautiful than that state. After the session, I had the fortune to meet his father Viswanathan along with Balaji sir’s son. He is no different - Humility personified, so kind in words.
The following Kural, one of my most favourite flashed in my mind.
·Airtel to acquire the 4G spectrum of Aircel in 8 Telecom circles including Tamil nadu, Odisha
·Delhi high court restrained workers union of 5 associate banks of SBI from going strike.
·Nirma Ltd to buy Lafarge India’s Cement assets in a deal worth $1.4 Billion.
·British Oil and Gas explorer Cairn Energy has sought a compensation $5.6 Billion for breach of UK-India Investment treaty at an International arbitration panel for IT department making a retrospective tax demand. If the Arbitration panel fails to order in favour of Cairn Energy Ltd., it has said it should be compensated for the loss of value of shares amounting to $ 5.587 Billion.
·BSE has introduced online bidding platform for Sovereign Gold bonds after receiving approval from RBI
·Reliance Jio to offer free Local and ISD voice calls along with 4G Voice and data services.
·Cabinet Committee on Economic affairs has approved 15% stake sale in National Buildings Construction Corporation Ltd(NBCC) which is expected to yield Rs.1706 Crore.
·India Ratings Ltd has projected a Loan CAGR of 9% during the period FY16-19 due to limited capital availability.
·The Income declaration scheme due dates have been staggered that:
o25% of the payments shall be paid before 30.11.2016
oAnother 25% of the payments shall be paid before 31.03.2017
oremaining shall be paid before 30.09.2017
·SIT on black money has recommended Supreme court that
oCash payments in excess of Rs. 300,000/- be banned
oPossession of cash in excess of Rs. 15,00,000/- be banned.
·Union road transport minister Nitin Gadkari has offered US electric car manufacturer Tesla land near Major Indian ports to have India as its manufacturing hub in Asia.
·Unified Payment Interface to become operational this month- Raghuram Rajan.
·Changes to Benami Transactions (Prohibition) act,2015 gets cabinet nod. The proposed changes include confiscation of Benami property other than those declared under Income disclosure scheme
·Income tax department to issue 7 Lakh letters to Individuals seeking details of high value transactions made during the last 8 years without PAN information
·Amendment to Contract Labour (Regulation and Abolition) Central rules, 1971 to raise the minimum wages to Rs.10,000 stalled after facing objection from various interest groups.
·A workers union has moved to Delhi high court against Food Corporation of India’s move of hiring contract laborers. Earlier labour ministry issued a notification for hiring contract labourers for FCI going against the recommendation of its own advisory council. Various notifications since 1985 have prohibited hiring of contract labourers for FCI. The recent notification denotified all the prohibitions instituted hitherto.
·Essar group has decided to sell 73% of its stake in Essar oil to reduce its corporate debt which has heaped to the tune of Rs.100,000 Crore.
·Labour ministry’s decision to invest in ETF the funds of EPF is too early in the current market scenario : Finance and Investment Panel of EPF
·Sanjiv Puri appointed as the new COO for ITC
·RBI has imposed Rs. 27 Crore penalty on 13 banks including HDFC, Bank of Baroda, PNB for violation of KYC norms and Anti-money laundering norms. It has also warned 8 other banks including Kotak Mahindra, Axis bank, ICICI, SBI.Federal bank, OBI.
·Centre approves Foreign stock exchanges, depositories, banking companies and commodity derivative exchanges to own upto 15% in Indian stock exchanges.
·India’s GDP growth for FY 16-17 may rise up to 7.9% : CRISIL
·The Union cabinet has approved to remove the additional levy of 1% by manufacturing states and 100% compensation of revenue loss to the states for 5 years.
·R.Sheshayee steps down as Ashok Leyland Non-executive vice chairman ending his four decades of affiliation with Ashok Leyland.
·Centre to issue demand notice worth Rs. 12,400 Crore to 6 telecom companies including Airtel, Idea, Vodafone after CAG’s report indicting underreporting of revenues by the telecom companies.
·SEBI to ease listing norms by doing away with the clause that imposes a cap of 25% on the shareholding by a individual together with the Person acting in concert in an entity.
·India looking for options to counter trade sanction that US is trying to impose on India to the tune of $ 452 million on the ground of violation WTO order in poultry import ban case.
·Centre infuses Rs. 22,915 Crore of capital to the Public sector banks as part of its programme “Indradhanush” launched last year.
·Employee’s compensation act,1923 to be amended with new provisions such as:
oPenalty in the range of Rs. 50,000-Rs.100,000 in case of failure to report by employer about accident in the premises of employer.
oNo appeal against labour commission order by the employer in case of compensation upto Rs.10,000/-
The name Madras is believed to have originated from the word “Madarasapatinam”. It was a fishing village in the north of fort St. George. According to British map makers, Madras was originally Mundir-raj or Mundiraj.
Sujatha, noted Tamil writer, has in one of his stories has told it might also have derived its name from the ruler of this part “Matharaju” or from a community named “Marakal Nayar” that vanished later or from a affluent Portugese person named “Emanuel Madras”, whose tombstone inscriptions were found while digging to lay the foundation of a church in Mylapore of Chennai.
It is also said Madras would have derived its name from “Madrassa”, a Persian word meaning Educational Institution having its ground on the surmise that there might have been an “Muhammadan College”
Origin of the Word “Chennai”
Almost the whole of Chennai (From Pulicat to San thome) was ruled in 17th Century by Damarla Venkatapathy Nayak and his brother Ayyapa Nayak. On 20th February, 1640, the agents of the East India Company, Francis Day and Cogan managed to secure a grant from the rulers to build a fort – St. George Fort (named after a saint of England) and set up their factory in Madarasapatnam. The fort St.George and the settlements of English were named as Chennapatnam, after the name of the father of the two rulers, Damarla Venkatapathy Nayak and Ayyapa Nayak - ChennapaNayak. The English preferred to use name of Madarasapatnam, while the Indians chose to refer the area Chennapatnam. In course of time, Madras was regarded as the site of the Fort and Chennapatnam as the Indian town to the north. Thus, it is said that the current “Chennai” derived its name from the word “Chennapatnam”
Another theory states that the name is derived from “Chenakesava Perumal Temple”, which was built in the year 1646.
From “Madras” to “Chennai”
The Tamil Nadu in the period after independence was called as Madras State, which included the coastal parts of modern-day Andhra Pradesh, northern Kerala (Malabar) and Bellary and Dakshin Kannada districts of Karnataka. Under the States Reorganisation Act, 1956, the States of Kerala and Mysore were separated from the Madras state. In 1969, Madras State was renamed to Tamil Nadu.On 17 July 1996, Madras was officially renamed Chennai. In 2016, approval has been accorded for naming "Madras High court" as "Chennai High court".
This happened to me during my college days. I studied in Loyola college,Chennai and I stayed at my college hostel. Since I am bit introverted guy, I did’t have many friends that time and I used to eat alone in my mess. To pass boredom and to go unmindful about the taste of food served at my mess, I used to call my mom daily during my dinner time and start speaking with her summarising all the happenings of the day. One day, I chose to dine outside. As usual I was having a lengthy conversation with my mom.
I ordered a plate of Idli and a Dosa (and also a filter coffee, if I remember right). I finished eating everything and the server handed me over the bill. It was an unsophisticated hotel, where people used to pay the bill themselves after eating at the counter. That time, I was somehow more deeply involved in my narrations of the day.
Just like, going out of the hostel mess after eating, washing my hands, I started moving out of the hotel.
I left the hotel and entered my college premises. Even then my dialogue didn’t end. After walking some 60 yards inside my campus, it hit my mind.
I said, “ Aiyo, Amma saaptutu panam kodukama vandhuten”
(Mummy, I forgot to pay after dining)
My mother, being a typical Tamil mother, got even more shocked.
She said, “Dei.. Ippa enga iruka..Pinadi yaaravadhu varangalanu paaru”
(Where are you? See someone is chasing you)
I felt myself this way. :)
Incident No. 2
During my CA-Articleship, there used to be a friend of mine who is known for naive character. He, being the senior most in the office, used to handle the case of one of the high income tax payers among our clients regularly. The particular tax payer passed away during the year. For the past three years he has been filing IT returns for the tax payer.During the month of September, CA-s would be extremely busy. They would not find time to pay attention towards each filing of return.
As per Income tax act, if a tax payer dies his legal heir should file IT return in respect of the tax payer.
That guy filed the return of income as if the dead assessee is filing the return of income.
Our principal asked him during the 3rd week of September, when we are doing under peak pressure “Did you file the return for that assessee?”.
He replied enthusiastically “ Yes sir”.
Our Principal with a smile said this - “Very good. When did you collected documents from his son?”
Only then he realised his mistake. With a scanty smile, he replied “ Siiiiiir, I forgot that he is dead”
Rest of us had a hard time that day in finding some private place to burst out our laughter.
This song from 1984 movie "Neengal Kettavai" directed by Balu mahendra is one of those songs, which soothes by its profound, thougt-provoking lyrical content.
The screenplay would be excellently designed with visuals bringing a deeper pondering on the lyrical theme of the song as Illayaraaja's music melliflously hypnotizes.
-A life driven only by desires is just a short -lived joy. Without the drive for actions, it is equivalent to a boat which considers even the oar as a burden.
This reminds me of this famous line of Jim Rohn
"Learn how to be happy with what you have while you pursue all you want"
Put simply, Dispassionate navigation towards our dreams.
2. The Second Charanam:
காலங்கள் மாறும்.காலங்கள் மாறும்கோலங்கள் மாறும் வாலிபம் என்பது பொய் வேஷம்தூக்கத்தில் பாதி..தூக்கத்தில் பாதிஏக்கத்தில் பாதி போனது போகஎது மீதம் பேதை
மனிதனே பேதை மனிதனேகடமையை இன்றே செய்வதில் தானே ஆனந்தம்
- Meaningful action that could do some goodness to the people around us is the only thing that could last while others will get effaced without even leaving their slightest traces.
One of the beautiful pieces of art, I have come across. Set to tune in the raga Anandha bhairavi, whose notes has the habit of triggering ecstasy by default.
-I have seen many a family, where the sole reason for the family to remain seamless is the endurance of the woman in the family. Particularly, in the Indian background, where they suffered oppression for centuries, any exhibition of revolt would have led many families to have gone shattered.
Put simply, Her unexpressed grief sheathed by her smiles is the shadow price of the prosperity behind many families.
2.பூங்குயிலே பூங்குயிலே பெண்ணும் ஆறும் வடிவம் மாறக்கூடும்
நீர் நினைத்தால் பெண் நினைத்தால் கரைகள் யாவும் கரைந்து போக கூடும்
-Could there be a better simile?
This scene from the movie "Bharadhi", depicts the silent suffering the women of the pre-independence India undergone and chauvinistic temperaments of the men at that age .
·World bank commits $1Billion for India’s
solar energy programme.
·CAG proposes auditing of regulators like
RBI.
·India
entered into Double Taxation Avoidance Agreement(DTAA) with Cyprus. Cyprus is to
be removed from Notified Jurisdictional Areas specified in the Income tax Act
retrospectively with effect from 1st November 2013. Any
payment to a Person located in the Notified Jurisdictional Area would be
regarded as International transaction with Associated Enterprises attracting
Transfer Pricing provisions under the Income tax act, 1961.
·N.S.Viswanathan appointed as new Deputy
Governor of RBI.
·The country's biggest oil refinery to be set up at
the west coast by the IOC, BPCL, HPCL, EIL together at a cost of $30Billion.
·A joint study conducted by Texprocil and
EY has said that Textile and apparel sector will create 29 Lakh jobs only in
the next 5 years as against the earlier estimate of 1 Crore jobs. The shrinkage is
due to the automation in sector.
·Apparel Exports Promotion Council(AEPC)
has said that the Apparel sector expects Rs.5000 Crore investments in the
current Fiscal year.
·China’s OPPO Electronic corp. becomes
the first company to approach the government for expansion since the relaxing
of the FDI norms in single-brand retail and wholesale in June 2016
·April – June of 2016 witnesses highest quarterly mobilization
in IPO-s in the last 9 years
·India’s
13th Major port at Enayam near Colachel in Tamil Nadu got ‘in-principle’
nod from cabinet.
·CBEC has issued a circular directing
revenue officials to not to collect tax during stay by the Appellate
authorities.
·Ministry
of Labour and Employment has issued notification increasing the ceiling of
salary for Pension from Rs. 6500 to Rs.15000. Government has also fixed the minimum
pension at Rs.1,000.
·ICDS
implementation deferred by 1 year. ICDS to be with effect from 01.04.2016.
·Government to divest its minority stake
in 51 Firms, which it holds through SUUTI(Specified Undertakings of UTI)
besides closing sick firms that are beyond revival.
·Congress, which has been demanding to
cap the overall GST rate at 18% and scrapping of an additional 1% to compensate
manufacturing states now proposes ring-fencing tax rate.
