Budget is only mildly growth supportive: Crisil
The Dollar Business Bureau The Union Budget focuses more on the hinterland and is just mildly supportive of growth which may reach 7.4% in FY 2017-18, as per an analysis by Crisil. “We are expecting a gradual rise in the GDP (gross domestic product) growth to 7.4% from 7% in 2017-18 as investment cycle is likely to remain sluggish and consumption demand will be expected to pick up just moderately in spite of cut in tax rates and softer rates of interest,” Crisil said in a post-Budget statement on Thursday. Observing that the Budget is just ‘mildly growth supportive’, the agency said the main focus is on the revival of the rural sector by boosting agriculture and infrastructure. While applauding the ‘prudence over populism’ ...
Government likely to ease norms for aircraft imports
The Dollar Business Bureau The government is likely to allow airlines to import aircraft without prior approval, Civil Aviation Minister Ashok Gajapathi Raju said. As per the existing norms, all scheduled and unscheduled regional airline operators need to get a no-objection certificate from the Civil Aviation Ministry for the acquisition or import of aircraft. The ministry has already written to the Reserve Bank of India and Directorate General of Foreign Trade (DGFT), seeking amendments in their rules so as to make the import procedure easier for airlines. “As a step forward, towards simplification of procedures, Ministry of Civil Aviation has requested Directorate General of Foreign Trade, Ministry of Commerce & Industry, for amending their notification and Reserve Bank of India to ...
