The reduction in gifts from corporate houses to their associates, networked partners, employees and other key personalities is more for outside connects than employees who are more or less receiving their annual gesture from their employers, the industry body said.
"Even if 50 per cent projects get implemented, it will help UP generate around 1 lakh direct and 1,50,000 indirect job opportunities," Assocham said in a study titled 'Uttar Pradesh: Economic Growth and Investment Performance Analysis'.
In a statement, the chamber said India Inc is looking up to the government to take the 'out of ordinary' measures
The operating and business models of insurers have been evolving due to the disaggregation of the insurance value chain, according to the report prepared by industry body Assocham in collaboration with Ashvin Parekh Advisory Services.
Solar power generation offers an enormous opportunity for UP, driven by factors like strong policy support, higher sunshine, growing demand for energy and demand elasticity from declining solar module prices.
"Where any outstanding liability, inclusive of any accrued interest is waived in accordance with the approved Resolution Plan, such waiver/write-back should not be subject to tax under both normal and Minimum Alternate Tax (MAT) provisions of the Income-tax Act, 1961," Assocham said in a letter to Central Board of Direct Taxes (CBDT).
The change of guard at Air India has happened at a time the Union Cabinet has approved privatisation of the national carrier and a group of ministers is preparing a strategy to chart out the future course of action.
These 50 large accounts are from the sectors such as construction, power and metals, among others and constitute about half of the gross non-performing assets of the banking sector.
"Uttar Pradesh is India's largest producer of ethanol for blending with petrol after Maharashtra. As such, the state should promote use of cleaner-burning fuel from sugarcane as the move would result in twin benefits of reducing dependence on crude oil imports and carbon emissions," Assocham national Secretary General, D S Rawat, said in a release here today.
Based on an analysis of responses from just 235 families, the industry body claimed that Indians residing in big cities are now spending less than half the time reading newspapers and watching television as compared to 3-4 years ago.
In a letter to Finance Minister Arun Jaitley, the industry body said a higher GST on bio-fertilisers, organic manures will promote the use of chemical fertilisers and impact public health.
"Notwithstanding some teething troubles, the GST is saving trucking time on trunk routes, connecting top cities, between 24-36 hours besides saving the fleet owners Rs 5,000 -7,500 per trip," it said in a statement.
Despite a huge leap in projected production by 2020, the domestic manufacturing will meet only 26 per cent of the local demand, the joint study conducted by industry chamber Assocham and NEC Technologies said.
Industry body Assocham welcomed the joint statement following the meeting, stating that the mutual commitment to increasing market access in information technology and other sectors is a big positive for the USD 150 billion Indian software and services industry.
In a note submitted to the finance ministry, it suggested that to avoid accumulation of input tax credit with the contractors, a similar exemption should be granted in GST on direct procurements made by the contractors for such projects.
In a letter to Finance Minister Arun Jaitley, Assocham said existing assessees have not yet migrated to the GSTN portal due to reasons like non-familiarity with IT tools as well as registration process.
Titled 'Leveraging artificial intelligence and robotics for sustainable growth', the study highlighted how an early public sector interest could trigger a spurt of activity in the AI field in India, instead of waiting for technology to reach a level where regulatory intervention becomes necessary.
The report pointed out that while demand for electronic products in India is expected to grow at a CAGR (compound annual growth rate) of 41 per cent to reach USD 400 billion by 2020, domestic production is growing at a CAGR of 27 per cent.
Rising per-capita incomes, growth in quick service restaurants are other key reasons for the growing demand and consumption of meat in India, it said where consumption is likely to go up by 35-40 percent.
The chamber noted that all states and union territories should switch to the new financial year uniformly once a broad-based consensus is evolved on the issue to reduce the hassles of trade and industry.
The government is working overtime to roll out the goods and services tax regime from July 1 and has held several workshops and seminars to familiarise traders and the industry about the new indirect taxation structure.
Some are also looking at changing the industry as the call to acquire new skill sets gets louder.
Sunil Singh, a resident of Gurugram, continues to wait for the completion of his group housing project, where only 50 per cent of the project is complete and the authority has issued the occupancy R
Maharashtra accounts for nearly 25 per cent of the total investments attracted by the real estate and construction industry in India, showed a recent study by industry body ASSOCHAM (The Associated Chambers of Commerce R
"There are about 3,489 projects worth Rs 14.5 lakh crore in the construction and real estate sector that are currently live across India," the study titled 'Construction and real estate investment: State-level analysis' said.