India's government, however, decided in the late 1980's to try to promote exports without loosening its restrictions on imports. The system is a typical Indian bureaucratic monstrosity. Exporters in India are given Import Replenishment Licenses which can be used to buy imports. Profits on exports were made exempt from the corporate profit tax.
India’s banking system still has long way to go. India stood out for a handful of things in 2019, none of them very positive. On the economic side, growth stumbled, bad loans grew and the government struggled to revive GDP. On the political front, the ruling Bharatiya Janata Party (BJP) came out with two controversial measures.
Further, individuals will be able to claim very limited deductions and exemptions under this new system. For example, taxpayers can claim deductions on amount received on voluntary retirement, employer's contribution to the central government's pension scheme, and on death-cum-gratuity received, to name a few.
India's national ID and financial inclusion system creates the rails on which food and financial aid can reach some of the most vulnerable in society. But its rigidity in a crisis is a weakness.
Moreover, in 1986 the implementation of the National Policy on Education initiated a long-term series of programs aimed at improving India's education system by ensuring that all children through the primary level have access to education of comparable quality irrespective of caste, creed, location, or sex.
The Indian Government must constantly review the clearance system to simplify it for the industry. Unnecessary approvals from multiple boards must be removed. Airline companies must be given some tax incentives, at least for the time being, for the adoption of expensive energy-efficient equipment and aircraft.
Nonetheless, India's government authorized a potato research institute named the Central Potato Research Institute (CPRI) to develop specific potato varieties for processing. "The Market Structure of the Potato Processing Industry in India" derives an equilibrium reputation-quality model for experienced goods.
India (Hindi: Bhārat), officially the Republic of India (Hindi: Bhārat Gaṇarājya), is a country in South Asia.It is the second-most populous country, the seventh-largest country by area, and the most populous democracy in the world. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to ...
The tax, inserted into budget amendments passed in March, caught the industry off guard as it was not part of the main proposals India's finance ministry had presented in parliament a month earlier.
Modi government failed to implement & deploy the demonetization in a correct way. Its a bold decision and is widely accepted by the Indians. Impact is that the day to day business stranded fully ...