Economic Newsletter: July 2017


Government of India Decisions High Impact News
'Good And Simple Tax', Says PM As Mega Reform GST Is Launched:
President Pranab Mukherjee and Prime Minister Narendra Modi pressed a button in parliament's Central Hall at midnight to launch the Goods and Services Tax (GST), India's biggest tax reform ever.
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Ram Nath Kovind elected as 14th President of India:
Ram Nath Kovind on Thursday was elected the 14th President of India. Kovind, the former Governor of Bihar, has served as a BJP MP in the Rajya Sabha as well. He defeated Opposition’s Meira Kumar, a former Lok Sabha speaker, winning more than 65 percent of the votes in the Electoral College.
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Jaitley releases National Trade Facilitation Action Plan
Finance Minister Arun Jaitley released the National Trade Facilitation Action Plan (NTFAP) on Thursday.
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PM Modi meets top world leaders at G20 Summit
Prime Minister Narendra Modi pressed upon his British counterpart Theresa May to ensure UK’s cooperation to bring back economic offenders. Modi also met Canadian Premier Justin Trudeau on the sidelines of the G20 Summit. The two leaders also spoke over phone to discuss the Paris Climate Agreement ahead of Modi’s visit to the US last month.
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Bill Declaring 15 IIITs As Institutes Of National Importance Passed
The Rajya Sabha on Thursday passed a bill to declare 15 IIITs set up through public-private partnership mode as "institutions of national importance" as well as to set up such institutes through collaboration.
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Sri Lanka Economic Summit 2017 kicks off
The two-day Sri Lanka Economic Summit 2017 was inaugurated this morning with the participation of the Principal Economic Adviser to the Indian Government Sanjeev Sanyal, Central Bank of Sri Lanka Governor Dr. Indrajit Coomaraswamy, State Minister of Finance Eran Wickramaratne, Deputy Minister of Economic Planning Dr. Harsha De Silva and Ceylon Chamber of Commerce Chairman Rajendra Theagrajah.
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Government Launches 'Sagar Vani' to alert Coastal Community
India's newly-launched "Sagar Vani" system aims to provide further protection to the country's coastal communities by issuing alerts and advisories about rising tides, dangerous waters and other threats along the coast.
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Indo Lanka Chamber of Commerce & Industry holds 9th AGM
The Ninth Annual General meeting of the Indo Lanka Chamber of Commerce & Industry (ILCCI) was held recently at Taj Samudra Colombo.
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