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Textile industry expects tax cuts in upcoming budget

Surat, Feb 11 (ANI): Manufacturers in textile industry in Gujarat expect tax cuts from the Central government in upcoming budget to help the industry come out of crisis. Union Finance Minister Arun Jaitley will on February 28 present his first full-year budget, seeking to put Asia's third-largest economy on a path of 7-8 percent growth over the next two years. In Surat, industrialists said they were facing crisis due to rise in prices of raw materials like yarn and colour chemicals. A favourable budget will being relief for one-and-a-half million people associated with the industry, he added. Vakharia also hoped for relaxation in prices of acquiring land. Investors and manufacturers have long advocated the GST as a way to simplify taxes while broadening the tax base, adding as much as 2 percentage points to economic growth in India. Feb 11, 2015
methodology-change-sees-indian-economy-grow-faster-than-chinas

Methodology change sees Indian economy grow faster than China's

New Delhi, Feb 10 (ANI): India forecasted that annual economic growth would accelerate to 7.4 percent in the year ending in March after its statisticians changed the way they measure Asia's third-largest economy and showed it clocked faster growth than China in the December quarter. The statistical recovery is in large measure due to changes both in the way authorities calculate gross domestic product (GDP) and the base year. The new estimate is sharply higher than the Reserve Bank of India's (RBI) growth projection of around 5.5 percent for the year under the old method. It marks a dramatic turnaround for an economy that a fortnight ago was assumed to be struggling to gain momentum under Prime Minister Narendra Modi's reform-minded government. India now measures GDP by market prices instead of factor costs, to take into account gross value addition in goods and services as well as indirect taxes. The base year has been shifted to 2011/12 from 2004/05 earlier. Feb 10, 2015
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We do what we promise: Amit Shah during the last leg of campaigning for Delhi Polls

New Delhi, Feb 5 (ANI): As the campaigning for the Delhi Assembly elections are ending today, the BJP is making all out efforts to convince people to vote for their candidates. BJP president Amit Shah on Thursday during a rally claimed that the BJP government at the centre has controlled petrol prices and inflation. He added that the BJP will continue to work for the people of Delhi if brought to power. Feb 5, 2015
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