Plan and Policy

Plan & Policy

Amazon raises number of rural partners 8 times

Amazon is fast expanding its reach in rural and semi-urban areas. It increased its partnership with local offline stores in rural and semi-urban areas under Udaan project by almost 8 times in 2017. The number of uninitiated customers who have been brought in through Udaan stores also increased 17 times in a year.

Amazon had started Project Udaan in May 2015 to expand its reach in rural and semi-urban areas by tying up with offline partners such as kirana, medical stores and mobile shopping outlets so that local entrepreneurs could assist the uninitiated in shopping online.

Corruption still a pain point for foreign investors

Foreign investors are still looking at corruption as a major challenge when it comes to making investment decision in India and also see ‘evolving’ corporate governance and risks to security of assets as other pain points, says US risk management firm Kroll.

After a stable government came to power in 2014, global investors were expecting significant changes in the way businesses used to happen in India but things have not turned out as expected, the New York-based risk consultancy noted.

4 jawans, 3 terrorists killed in attack at CRPF camp in Pulwama

Heavily armed terrorists launched a pre-dawn attack on a CRPF camp in Pulwama district of south Kashmir, killing four personnel of the force and injuring three others. CRPF spokesperson Rajesh Yadav said the bodies of two terrorists have also been recovered while one more is believed to have been killed.

FinMin asks PSBs to consider selling, swapping loan assets

The government is not perturbed if banks shrink their balance sheets and focus on profitability rather than chasing topline growth, this was one of the messages that bankers got from the PSB Manthan organised by the finance ministry in November.

Reverse charge mechanism to be back in GST

Close on the heels of the decision to roll out e-way bill, the government is set to introduce the reverse charge mechanism in its bid to check evasion, especially by traders and small businesses under GST.

IBC amendment bill to bar wilful defaulters tabled

Finance minister Arun Ja­i­tley on Thursday introdu­c­ed amendments to the insolvency law seeking to weed out willful defaulters and other unscrupulous individuals from bidding for troubled companies headed for time-bound resolution und­er the new bankruptcy code.

The Insolvency and Ba­n­k­ruptcy Code (Amendment) Bill 2017 would replace an ordinance promulgated in November to bar rogue promoters and companies or th­eir senior executives linked with NPA accounts. The bill introduced in the Lok Sabha includes some minor cha­nges to the ordinance.

FY19 divestment target likely to be raised to Rs 1L cr

Emboldened by the response to disinvestment exercise in this financial year, the government is planning to raise the sale-off target by 40 per cent to Rs 1 lakh crore in the next budget.

Sources privy to discussions on the 2018-19 budget target of disinvestment said the market and investors have supported sale-off rationale and the government would like to encash that.

Diamond exports up 1.29%, imports 5% in April-November

India’s exports of cut & polished diamonds jumped 1.29 per cent while imports climbed 5 per cent during the April-November period on strong demand, data published by the Gems and Jewellery Export Promotion Council (GJEPC) showed.

“Strong festive demand from Western countries kept export and imports of diamond up,” said Stawan Ajmera a Mumbai-based diamond trader.