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CII seeks PM's intervention over drug price fixing
NEW DELHI, July 28 (Agencies): Industry chamber CII has sought Prime Minister Narendra Modi's intervention over "unilateral fixing" of drug prices by NPPA saying the exercise based on "an inequitable formula" has done collateral damage to indigenous industry. "The industry is willing and committed to partner the government in its efforts to meet the healthcare needs of Indian patients through various mechanisms ... But questions the unilateral fixing of ceiling prices based on an inequitable formula which will only devalue and erode the strength of this very important sector," CII National Committee on Biotechnology Chairperson Kiran Mazumdar Shaw said in an open letter to the Prime Minister. Lashing out at the National Pharmaceutical Pricing Authority (NPPA) over the recent moves to fi...
Kashmir Times News Report
Def Min defers decision on Navy chopper deal
NEW DELHI, July 27 (Agencies): The NDA government has deferred its decision on the procurement of 16 multi-role helicopters for the Indian Navy as one of the two companies in the race for the deal is linked with Finmeccannica--the parent organisation of the scam-tainted firm AgustaWestalnd. The Defence Acquisition Council headed by Defence Minister Arun Jaitley put off its decision on the procurement of the helicopters for the Navy from vendors including American Sikorsky and European NH Industries, which has Finmeccannica as one of its partners, highly-placed sources told agencies here. Finmeccannica is the parent firm of AgustaWestland firm, whose Rs 3,600 crore contract for supplying 12 VVIP choppers to the IAF has been scrapped by the government over the charges of paying kickbacks ...
Kashmir Times News Report
Jaitley announces some concessions, tax on MF from July 10
NEW DELHI, July 25 (Agencies): The government today announced some concessions for mutual fund industry and income tax payers, while comitting to low tax regime to promote industrial activity to generate jobs and create more resources to undertake social welfare activities. Announcing the concessions in the Lok Sabha, Finance Minister Arun Jaitley said high tax rate of 20 per cent on the debt mutual fund will apply from July 10, the date of the presentation of the budget, and not from April 1, 2014 as proposed earlier. In this regard, the Minister said he was accepting a suggestion made by Congress leader Jyotiraditya Scindia and some other members as it amounted to leving tax with retrospective effect for about three months. The Lok Sabha later passed the Finance Bill, 2014 completing...
Kashmir Times News Report
Govt promoting labour intensive manufacturing process: Min
NEW DELHI, July 23 (Agencies): The government was promoting labour intensive manufacturing process and increasing employment opportunities by encouraging tourism and agro-based industries, Rajya Sabha was informed today. The government was also reviewing apprenticeship scheme to enlarge participation of small and medium industries so as to enhance employability of youth in the country, Union Labour and Employment minister Narendra Singh Tomar said in a written reply in Rajya Sabha. He said the 12th Five Year Plan projects five crore new work opportunities to be generated in the non-farm sector and skill certification to equivalent numbers. The National Skill Development Agency (NSDA) has been set up to coordinate action among central ministries in this connect. "It has also been decide...
Kashmir Times News Report
Women's participation in workforce is half of men: Govt
NEW DELHI, July 21 (Agencies): The participation of women in the workforce is less than half of men, government told the Lok Sabha today. In coordination with states, the Centre was enforcing law providing equal remuneration to both genders to boost woman employment, Minister of State for Labour and Employment Vishnu Deo Sai said. In rural India, the workforce participation rate of men was 54.3 percent against 24.8 percent for women while the corresponding figures for urban India were 54.6 and 14.7 percent, he said. The country-wise participation of men and women in workforce was 54.4 and 21.9 percent respectively, he said....
Kashmir Times News Report
 
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