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National News

Aug 12, 2019

Several measures taken to boost Indian economy

Government has taken several measures to boost Indian economy and ease of doing business.  FDI inflows into India have remained robust despite global headwinds. Indian economy to become a 3 trillion dollar economy in the current year and government aspires to make the country a 5 trillion dollar economy. The Commerce Department has set up a Think Tank on Framework for National Policy and a Task Force to deliberate on the challenges confronting the country in the arena of the digital economy and e-Commerce. 

The National Retail Trade Policy is also under formulation in the Department for Promotion of Industry and Internal Trade.  Earlier,  in his Mann Ki Baat programme ,  Prime Minister Narendra Modi talked about the government initiative to promote industry and self employment in the country and highlighted the benefits of MUDRA Yojana.

AIR correspondent reports that the life of Common man changed through MUDRA loans for ease of doing business. Under the scheme, over 1.41 lakh crore loans have been sanctioned and  over 66 thousand crore rupees were disbursed  during  this fiscal. The government has reduced the Corporate tax to 25 per cent for companies with annual turnover up to 400 crore rupees. A draft National Policy has been put in place to address six broad issues of the e-Commerce ecosystem in the country. They include infrastructure development, data stimulating domestic digital economy and export promotion and regulatory issues.  In this year's Union Budget,  the government proposed to start a channel within Door Darshan bouqet of channels exclusively for start-ups.  

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