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A country's infrastructure (including transportation, telecommunications and energy industry) is a major enabler of industrial policy. [6] Industrial policies are interventionist measures typical of mixed economy countries. Many types of industrial policies contain common elements with other types of interventionist practices such as trade ...
Verma helped draft the New Industrial Policy alongside Chief Economic Advisor Rakesh Mohan, and it laid out a plan to foster Indian industry in five points. [ 24 ] [ 25 ] Firstly, it abolished the License Raj by removing licensing restrictions for all industries except for 18 that "related to security and strategic concerns, social reasons ...
The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
The BIFR was established under The Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). The board was set up in January 1987 and became functional as of 15 May 1987. [ 1 ] A new industrial policy was tabled in Parliament on 24 July 1991 aiming to maintain growth in productivity and gainful employment and to encourage the growth of ...
FY2021-22 was an uneventful year for the New Tax Regime as no new changes were announced except the relaxation of Income Tax filing for senior citizens over 75 years. [26] The government's tax policy for the near future was clearly outlined which indicated that all tax breaks will be gradually eliminated while maintaining a low tax rate.
The Government of Madhya Pradesh (abbreviated as MP) or Madhya Pradesh Government, is the supreme governing authority of the Indian state of Madhya Pradesh and its 55 districts. It consists of an executive , led by the governor of Madhya Pradesh , a judiciary and a legislative branch.
The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states (Gujarat, Tamil Nadu, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Uttarakhand and Uttar Pradesh) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
In 1956, Nicholas Kaldor was appointed to investigate the Indian tax system in light of the Second Five-Year Plan's revenue requirement. He submitted an extensive report for a coordinated tax system, and several taxation acts were enacted: the wealth-tax Act 1957, the Expenditure Tax Act, 1957, and the Gift Tax Act, 1958. [9]