Business

New Delhi, June 1; INN/GANASHAKTI: NITI Ayog has announced ‘big bang’ reform through anti-worker changes in labour laws and fast tracking privatisation or closure of 46 PSUs. Rajiv Kumar, Vice Chairman of NITI Ayog has categorically told that “They (the foreign investors) will have reasons to be happy” and the government will “build an inventory of government land that can be offered to foreign investors”.

Washington, May 31; PTI/GANASHAKTI: Any efforts to import Iranian crude oil beyond the accepted levels negotiated from November to May will be sanctioned, the US has warned, amidst reports that India and China were seeking ways to buy oil from Tehran.

US President Donald Trump last month refused to give waivers to countries like India from buying oil from Iran, in an attempt to reduce Iran's oil exports to zero.

New Delhi: (Reuters/GANASHAKTI):  In the first 100 days of Indian Prime Minister Narendra Modi’s second term, a slew of ‘big-bang’ economic reforms that should please foreign investors are likely to be pursued, according to a top official at the government’s main think-tank.

The reforms will include changes in labour laws, privatisation moves and creation of land banks for new industrial development, said Rajiv Kumar, vice chairman of NITI Aayog (National Institute for Transforming India), who reports directly to Modi.

New Delhi, May 31 (PTI) CBI told the Supreme Court Friday that it is ready to take over the investigation into the multi-crore bitcoin Ponzi scheme in which several investors were allegedly lured on the promise of handsome returns.

CBI said this before a vacation bench comprising Justices M R Shah and A S Bopanna, hearing a plea filed by one of the arrested accused in the case seeking bail.

The accused has also sought a CBI investigation in the case saying cases have been lodged against him in several states.

Washington, Jun 1 (PTI) President Donald Trump has terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide "equitable and reasonable access" to its markets.

The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.

New Delhi, May 31 (PTI) India's economic growth rate slowed to five-year low of 5.8 per cent in January-March 2018-19, due to poor performance in agriculture and manufacturing sectors, official data released Friday said.

The Central Statistics Office (CSO) also revealed that GDP growth during 2018-19 fiscal stood at 6.8 per cent, lower than 7.2 per cent in the previous financial year.

The growth in gross domestic product (GDP) was slowest since 2014-15. The previous low was 6.4 per cent in 2013-14.

New Delhi, May 31 (PTI) The Modi 2.0 government in its first Cabinet meeting Friday approved a new scheme, which assures minimum monthly pension of Rs 3,000 to all shopkeepers, retail traders and self employed persons after attaining the age of 60 years, fulfilling its poll promise.

The decision taken at the Union Cabinet meeting chaired by Prime Minister Narendra Modi here will benefit 3 crore retail traders and shopkeepers.

New Delhi, May 31 (PTI) Prime Minister Narendra Modi is expected to travel to Colombo on June 9, Sri Lankan President Maithripala Sirisena said on Friday.

Sirisena, who was here to attend Modi's swearing-in ceremony, told reporters that Sri Lanka was eagerly waiting to welcome the Indian leader.

The Sri Lankan President said he has received information that Modi will be travelling to Colombo on June 9 on his return from Maldives.

New Delhi, May 31 (PTI) The newly appointed Finance Minister Nirmala Sitharaman will present the full Budget for 2019-20 on July 5 in the Lok Sabha.

This will be first full Budget of Modi 2.0 government.

In view of the general elections, the interim Budget for the current fiscal was presented by the then Finance Minister Piyush Goyal.

CAIRO, May 31 (Xinhua) -- The United States has initiated a trade conflict against China "unilaterally," a move that is "an assault on the international values," former Egyptian Prime Minister Essam Sharaf said in a recent interview with Xinhua.

Washington stood against the general world system and tore up hopes of free trade and a growing economy, said Sharaf, who is also a committee member of the Silk Road NGO Cooperation Network.