Page 3 - Assocham

Don't hike repo rate by more than 25-35 bps: Assocham's advice to RBI

With Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) set to meet to decide on the policy rate revision, industry lobby body Assocham has urged the former for a moderate hike

Assocham asks RBI to moderate rate hikes to avoid impact on recovery

Industry body Assocham on Friday asked the Reserve Bank, which has hiked the key policy rate by 190 basis points since May, to moderate the interest rate hikes so that it does not have adverse impact on nascent economic recovery. Reserve Bank of India (RBI) Governor Shaktikanta Das headed six-member rate setting panel is scheduled to meet for three days from Monday to take a call on the next set of monetary policy. The central bank is scheduled to announce the decision of the Monetary Policy Committee (MPC) on December 7 (Wednesday). "At most the new rate hike should not exceed the 25-35 basis points band," Assocham said in a letter to the RBI Governor, along with highlighting other issues before the industry. One of the key recommendations advanced by the chamber to the RBI is to treat retail loans for purchase of Electric Vehicles as priority sector lending, with a concessional rate of interest. On September 30, the RBI had hiked the key policy rate (repo) by 50 basis points wit

World Heart Day: Doctors say lifestyle, dietary change must for good health

To commemorate "World Heart Day", the ASSOCHAM, held a webinar titled "Dil Ki Baat" as part of the Illness to Wellness campaign with an aim to raise awareness and provide information

IBBI taking steps to address issues related to resolution process: Official

The Insolvency and Bankruptcy Board of India (IBBI) is taking steps to address various issues and concerns related to insolvency resolution process, an official said on Friday. IBBI is a key institution in implementing in the Insolvency and Bankruptcy Code (IBC). Sandip Garg, Executive Director at IBBI, said the Code has kept pace with the emerging market requirements and will remain pertinent for all times to come. He was speaking at a conference organised by industry body Assocham. IBBI is deliberating on several concerns of IBC and Corporate Insolvency Resolution Process (CIRP), and is taking steps to address them, Garg said. "The Code envisages resolution of the firm as a going concern, as closure of the firm destroys organisational capital. It facilitates continued operation of the firm as a going concern by moratorium on institution or continuation of suits or proceedings against the firm during the resolution period. "It enables raising interim finances which has super pri

New telecom law should suspend USOF levies, say industry bodies

A new legal framework for the telecom sector should freeze fresh levies from telcos for the Universal Service Obligation Fund, say ASSOCHAM, IAMAI

Assocham appreciates govt's plan of recruiting 1 mn people in 18 months

Prime Minister Narendra Modi on Tuesday announced the plans of mass recruitment in the central government as well as its various agencies, departments, and ministries.

RBI's decision to raise policy rate to help Indian economy, says Assocham

Industry body Assocham on Thursday said the Reserve Bank's decision to raise the benchmark lending rate by 50 basis points to 4.9 per cent will help the Indian economy in the medium term.

Steel, railways and coal ministries in talks for fuel supply: Minister

Speaking to reporters at Assocham's Indian Metals Industry conference, minister of state for steel Kulaste said his ministry is taking all measures to maintain supply of coal for steel makers

Assocham calls for zero import duty on coal to tackle power supply issues

Several states are reeling under power shortages with the situation being further affected by extra-ordinary heatwave setting in quite early this year

Sumant Sinha takes over as ASSOCHAM President; Ajay Singh as Senior V-P

Sinha founded ReNew Power in January 2011, with a vision to transform the way energy is produced and consumed in India

Healthcare likely to receive top priority in Budget 2022: Assocham

Healthcare sector is likely to receive the highest priority in the upcoming Union Budget 2022-23 on account of continuing challenges posed by COVID-19

RBI must keep rates low as long as needed to sustain growth: Assocham

It said that while concerns over inflation, especially in the Wholesale Price Index (WPI), need to be addressed, measures other than reversal of the accommodative stance should be encouraged

Construction industry may resume operations by mid-June: Assocham

The employment-intensive construction industry should witness resumption in operations by the middle of June, though at a curtailed level, industry chamber Assocham said on Tuesday

MSME needs 'concentrated, right kind' of relief package: Assocham

Industry body Assocham has demanded from the government a 'concentrated and right kind' of relief package for MSME sector, which was most affected by covid-19 pandemic

Ease fiscal deficit, look at higher spend for future: Assocham President

Infra spending has thrice the desired impact, govt's Rs 111 trn National Infrastructure Pipeline should be speeded up, says Vineet Aggarwal

Indian economy heading towards V-shaped recovery, says Assocham

The industry chamber said it expected immense accruals of economic benefits from the Covid-19 vaccination programme about to be rolled out

Indian economy heading towards V-shaped recovery in 2021: Assocham

India's economy is showing decisive signs of a 'V-shaped' recovery in 2021 with the return of consumer confidence and robust financial markets, Assocham said

Damage to infrastructure would turn investors away from Punjab: Assocham

Incidents of damage to the industrial and other infrastructure would turn investors away from Punjab, industry body Assocham has told Punjab Chief Minister Amarinder Singh

Farmers' protest resulting in daily loss of Rs 3,500 cr: Assocham

Industry body Assocham on Tuesday urged the Centre and farmers' organisations to resolve the impasse over the new agri laws, saying that the protests are inflicting a heavy blow to the economies of Punjab, Haryana, Himachal Pradesh and J&K. "A daily loss of Rs 3,000-3,500 crore is resulting in the economies of the region from the value chain and transport disruption because of the protests," according to a rough estimate by the chamber. Assocham President Niranjan Hiranandani said, ''The size of the combined economies of Punjab, Haryana, Himachal Pradesh and J&K is about Rs 18 lakh crore. With the ongoing farmers' agitation and blockade of roads, toll plazas and railways, the economic activities have come to a halt." On Monday, the Confederation of Indian Industry (CII) had said the farmer agitation has led to supply chain disruptions, which will impact the economy in the coming days and may impinge upon the ongoing recovery from the economic contraction due to ...

India Inc seeks growth-oriented budget, higher health spend from FM

Says fiscal consolidation be pushed for later years or formulated from three-year perspective