Search Result for : Telangana State

By Ranjeet Mahtani and Stella Joseph Rates The slab rates for goods has been formulated by the GST Council in November of 2016, as a five-tier rate structure – of 0%, 5%, 12%, 18% and 28% - besides which some products will attract cesses. Rates for services have till date not been officially announced, even while there was wide-spread belief that a two-tier rate structure – 12% and 18% - will be adopted. The Revenue Secretary earlier this week indicated that there would be two slab rates for services, since not all services can be classified within the standard rate of 18%. He also indicated that industries such as transportation may face a lower tax rate since presently they enjoy abatement under ...

PTI Keeping in view of the increasing demand, Japanese air conditioner maker Daikin has plans for setting up its third manufacturing plant in India and is evaluating various locations and options, a top company official said today. The company is in talks with Maharashtra, Andhra Pradesh and Telangana governments in this regard, however, any decision on setting up the third manufacturing unit is likely to be taken only after March 2018, Daikin Airconditioning India Managing Director Kanwal Jeet Jawa said here. "We have one manufacturing facility at Neemrana in Rajasthan. Already we have decided to put up a second factory also at Neemrana.. about 40 acre with an investment of Rs 600 crore plus. The second unit will be operational from September this year," ...

The Dollar Business Bureau The Andhra Pradesh government has set up an expert committee on new SEZ Bill 'Special Economic Zones (SEZ) Act-2016' and sent the draft to the Centre for its approval. The State government is keen on monitoring the performance of SEZs as they contribute significant part to the exports. A senior official on a condition of anonymity, said that state government's approval would be necessary for denotifying any SEZ, while the SEZ's Development Commissioner will play a co-ordinator role with the Centre. "Further, anyone can apply for SEZ as the state will forward the application as it is or with modifications to the Centre. Upon receiving the Centre's approval, the respective area will be notified as SEZ. Developer can ...

PTI   The deposits of banks grew by Rs.16,595 crore at Rs.3,73,913 crore in Telangana during the quarter ending September, a top official of State Bank of Hyderabad said today.   Total advances of the banks grew by Rs 28,828 crore at Rs 4,18,481 crore, State Bank of Hyderabad (SBH) Managing Director Santanu Mukherjee, who is also President of State Level Bankers Committee (SLBC), said in the Quarterly Review meeting of the Committee."CD ratio at 111.92 per cent at the end of September 2016 increased by 287 bps and continues to be one of the highest in the country. Banks have lent Rs 15,205 crore under Kharif during the first quarter achieving 87 per cent of the Kharif targets," SBH release quoted him as ...

The Dollar Business Bureau Telangana and Illinois State of the US have inked a pact which paves the way for interaction and collaboration between the two states in several fields through expertise sharing. KT Rama Rao, Industries, Commerce and IT Minister of Telangana and Consulate General of India in Chicago, Ausaf Sayeed, were present during the inking of the Memorandum of Understanding (MoU) on Monday, according to an official release. Rao is on a business visit to the US for promoting his state and to attract investments. The pact facilitates the two sides to extend cooperation in various fields including smart state solutions, innovation, e-governance, entrepreneurship, job creation, best practices and business incubators, it said. “Under the Smart State solutions, Illinois ...

The Dollar Business Bureau  The Telangana government has received a funding of Rs.620 crore under the head of Central Road Fund, according to a state government release. The state has already been given an amount of Rs.400 crore for the same fund along with the release of this additional amount. According to Telangana Road and Buildings Minister Tummala Nageswara Rao, the Centre is also considering proposals worth Rs.3,000 crore to be sanctioned for the state. He also thanked Union Transport Minister Nitin Gadkari for making the remaining sanctions so far expecting the Centre to release more such funds in the future. 

Sharath Chowdary  The Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry has applied to NITI (National Institution for Transforming India) Aayog to establish start-up incubation centres in Andhra Pradesh and Telangana.  Among the 15 verticals suggested by the Niti Aayog, FTAPCCI has chosen the areas of agriculture and allied activities for AP, and manufacturing and engineering for Telangana. The incubation facility in Telangana will be set up in Hyderabad, while the facility in AP may be started either in Vijayawada or Visakhapatnam, the industry body President Ravindra Modi told The Dollar Business Bureau.  “The incubation centres will be set up based on the conditions and guidelines framed by the Niti Aayog. The facility should have a minimum 10,000 sq ft area ...

The Dollar Business Bureau South American nation, the Republic of Suriname, will establish an exclusive corridor for furniture design in the city of Hyderabad for exporting furniture to Latin American (LatAm) nations. This is the second such furniture corridor in India to be established on the lines of the first one in Kolar (Karnataka). The corridor will start and be functional in the next 6 months. This was revealed to the media on Friday by Asif lqbal, Honorary Consul of Republic of Suriname (for AP, TS and Karnataka). “The Republic of Suriname is working along with the government run design school, National Institute of Design (NID), for partnership,” he added. He was speaking to the newspersons on the sidelines of the opening ceremony of ...