Plan and Policy

Plan & Policy

India to be $5t economy in 8-9 years: Prabhu

Commerce and industries minister Suresh Prabhu said on Wednesday that India is expected to become a $5 trillion economy in 8-9 years with the manufacturing sector contributing 20 per cent to that. “India is going to be $5 trillion economy in 8-9 years. $1 trillion will come from manufacturing. Therefore we are preparing a detailed plan what will be going in that manufacturing,” Prabhu said at an event organised by internet firms body IAMAI.

He said experts who are involved into manufacturing are preparing the roadmap and including all sectors where manufacturing can be promoted.

Hike looks at break-even in 2020, says Kavin Mittal

Five years into operations, world’s sixth largest messenger company, Hike, is eyeing a break-even in 2020 with plans to raise another round of funding. In an interview with Anjana Das, founder and CEO Kavin Bharti Mittal says the company would not like itself to be compared with WhatsApp as Hike is app-based with rich content and various services built-into it, which WhatsApp lacks.

EPF rate may be cut to 8.35%

The labour ministry is likely to recommend cutting the interest rate on employee provident fund (FPF) by 20-25 basis points in line with falling interest rates, a top ministry official said.

Aadhaar switch to cause civil death of citizens: Petitioner’s counsel

By enacting the Aadhaar law, the State has been handed over a switch by which it can cause civil death of its citizens and it is dangerous to democracy, argued senior counsel Shyam Divan as the Supreme Court began hearing the petitions challenging the validity of Aadhaar contending that it violates an individual’s fundamental right to privacy.

Government cuts extra borrowing but markets still nervous

India has cut its additional market borrowing requirement for the current fiscal year by 60 percent after reviewing trends in revenue receipts and expenditure patterns, the finance ministry said on Wednesday, sending bond yields sharply lower.

Bitcoin slumps to $10,000, half its peak price, as regulatory fears grow

Bitcoin skidded a further 12 percent on Wednesday, marking an almost halving in value from its peak price, with investors spooked by fears regulators could clamp down on the volatile cryptocurrency that skyrocketed last year.

The price of bitcoin, the world’s biggest and best known cryptocurrency, fell to as low as $10,0000 on the Luxembourg-based Bitstamp exchange, the lowest since Dec. 1.

Bitcoin touched a peak of almost $20,000 in December - and indeed crossed over that threshold on some exchanges - but has since been roiled by several large sell-offs.

Don't see serious trouble, but forces ready for any exigency: Army chief on Doklam

The Army does not visualise any "serious trouble" post-Doklam episode as the border forces of India and China are holding regular exchange and the earlier "bonhomie" has returned, but the forces are prepared for any exigency, Army chief General Bipin Rawat said on Tuesday

Rawat also insisted that the PLA soldiers were not in the same numbers in the North Dolam (Doklam) area as they were at the time of the (India-China military) stand-off

Chinese looks to India for tourism

China is not a major source market for Indian tourism yet. But there is a clear opportunity for the tourism sector as China has recorded the fastest growth in terms of interest in visiting Indian destinations in 2017.

Chinese tourists are increasingly searching for Indian destinations, hotels and restaurants. As per a TripAdvisor study, China topped the list of countries with gr­owing interest in India, with 134 per cent year-on-year growth recorded last year.

Omni-channel is the way forward

More than FDI (foreign direct investment) in single brand retail, omni-channel will trigger growth in the organised retail. Within a few years, the concept of organised brick-and-mortar retail and e-commerce as separate entities will no longer exist, say experts.