CII calls for smoother tax regime, ease of doing biz to revive economy : Bulletin: Business Today
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CII calls for smoother tax regime, ease of doing biz to revive economy

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April 24, 2020

CII calls for smoother tax regime, ease of doing biz to revive economy
As the government chalks out plan to bring the economy back on track, Confederation of Indian Industries (CII) has recommended several measures, including reduction in cost of transportation and logistics, privatisation of discoms, availability of long-term credits, ease of doing business, simplification of taxation and labour market reforms. The apex industry body has suggested actions to be taken in the short and medium-term to overcome the deep distress in the economy.
 
Coronavirus in US: Trump favours phased reopening of economy
US President Donald Trump has favoured safe and phased reopening of the American economy, which has been devastated by the coronavirus pandemic that has killed more than 50,000 people and infected over eight lakh in a matter of few months. Trump on Thursday indicated that this might be extended beyond May 1, but forcefully advocated the need to gradually open up the economy that is safe. Trump said that the US is very close to a finding a vaccine for COVID-19.
 
Odisha govt bats for mandatory testing for migrant workers
The Odisha government on Thursday said it would press for mandatory COVID-19 testing of migrant workers at places where they were stranded due to the ongoing lockdown. The state government has set up a procedure for registration and quarantine arrangement for the people stranded in other states who intend to come to Odisha after the lockdown ends.
 
Coronavirus impact: SAARC countries agree to enhance cooperation
Health officials from SAARC countries, including India, held a video-conference on Thursday during which they agreed to enhance cooperation to combat the COVID-19 pandemic at the regional level. The meeting comes over a month after India took the lead with Prime Minister Narendra Modi bringing the SAARC leaders together through a video-conference amid rising coronavirus cases in the populous region.

Chinese investors flummoxed by India's new foreign investment rules
India's plan to screen foreign direct investments from neighbouring countries has Chinese firms concerned that such scrutiny will affect their projects and delay deals in one of Asia's most lucrative investment markets. Unlike neighbouring Pakistan, Bangladesh, Myanmar, Nepal and Bhutan, China has major investments in India. Chinese firms existing and planned investments in India stand at more than $26 billion. The new rules are to curb "opportunistic" takeovers during the coronavirus outbreak that has hit Indian businesses, but government sources have said they will also apply to greenfield investments. China has called the rules "discriminatory".
 
Govt weighs in on financial package to bail out industries
As lockdown completes a month, clamour for a stimulus package has picked up with various sectors asking the government for help as the economy comes to a standstill. The government is now looking at various options to help businesses, especially MSMEs. Nirmala Sitharaman is slated to meet Prime Minister Narendra Modi on Friday to discuss the options.






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