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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 ...
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 ...
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 ...
Horizontal equity requires a tax system that it does not give preference to certain individuals or companies. It makes sure that we don't have discrimination on the grounds. [12] Horizontal equity is a constant topic of tax policy discussions and in many countries it is a cause of several exemptions, deductions and special provisions.
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 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 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.
For example, the Super-Rich Tax was introduced in 1918, and the new Income-tax Act was passed in 1918. But most important among all these were the Income-tax Act of 1922. This act of 1922 marked an important change from the act of 1918 by shifting the administration of the income tax from the hands of the provincial government to the central ...