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Top headlines of 05 September, 2020

JAPAN TO OFFER INCENTIVES TO COMPANIES SHIFTING BASE FROM CHINA TO INDIA AND BANGLADESH

After the corona pandemic break around the world, transportation and manufacturing affected before it when it arise in china then many countries analysed that their country totally depends on a single nation china for all type manufacturing so finally countries like Japan, Australia, Netherlands, New Zealand and US decide to shift their companies plants from china. Mostly companies preferred countries like Vietnam, Thailand, Taiwan, Malaysia, and India to shift their units. Many countries offer subsidy for shifting their production units from china. Similarly Japan offer $ 2.2 billion subsidy to shift their production from china to japan. Now Japan offered same subsidy plan for shifting production to India and Bangladesh. It means, that subsidy scheme also included India so Its a good sign for Indian economy and 'make in India' initiative.

Fiscal Deficit at 103% in first quarter of year 2021 (CAG data)

The difference between total revenue and total expenditure of the government is called as fiscal deficit. The government meets fiscal deficit by borrowing money.

India’s fiscal deficit reached Rs 8.21 lakh crore, or 103% of the budget eastimate in the quarter ended June. Last year it was 77.8% for the same period.

India’s Fiscal deficit target set by the centre govt during the Union budget 2020-21 was Rs 7.96 lakh Crore, or 3.5% of the gross domestic Product but limit already crossed in single quarter of FY-21.


Thailand scraps KRA Canal deal with china

Yesterday Thailand government announced that it will scrap KRA canal project which leaded by china. This canal was the option for china to 'strait of malacca' after India established naval bases on Sabang and Changi ports. After increase Indian Navy presence in the 'strait of Malacca' china feel energy threat so for china importance of this project was more. After stress at LAC, India deployed its frontline vessels near Strait of Malacca. This decision was taken after a lot of pressure from ally party of governing party and public.

At the same time, Thailand also halted the process of buying two Chinese submarines.

 


Andhra Pradesh get first position in “Ease of doing business” ranking 2019

Government of India today released “State Business Reform Action Plan(BARP)” 2019 which shows the how Indian states reforming rules and ease of doing business for the ‘Make in India’ initiative . In this list of BARP made on the total 180 points includes easy to get information, single window clearance, construction permissions, land acquire, speed of water and electricity connections and availability and simplifications of labour law and more. Andhra Pradesh again topped the position of 'ease of doing business' in total 36 states and UT's ranking and Uttar Pradesh took second place. In this plan, states have to simplify the rules to start a new business in their state and promote business.





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