Latest news with #AsitRanjanMishra
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Business Standard
2 days ago
- Business
- Business Standard
8th Pay Commission: Govt receives wish list from staff representatives
Finalising panel's terms of reference for hikes, which may kick in from Jan premium Ruchika Chitravanshi Asit Ranjan Mishra New Delhi Listen to This Article Six months after the government announced plans to set up the Eighth Central Pay Commission to review its employees' emoluments, it has received suggestions from staff representatives for the panel's consideration. These suggestions include reinstating the Old Pension Scheme for government employees who joined service after 2004 and improving other retirement benefits, devising methods to ensure cashless medical benefits to employees and pensioners, and providing a child education allowance as well as a hostel subsidy till the post-graduation level. The panel's recommendations would impact around 4.5 million government employees and 6.8 million pensioners, including defence personnel. While the government is
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Business Standard
3 days ago
- Business
- Business Standard
India, US seek to futureproof trade agreement amid tax and tariff concerns
Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax premium Asit Ranjan Mishra Listen to This Article The US is pressing India to commit to not reintroducing the so-called 'Google tax', while New Delhi is seeking protection from potential future tariffs on pharmaceutical exports as part of the ongoing trade-deal negotiations. Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax. The move, announced in March, was aimed at sending a positive signal to US President Donald Trump, who had threatened reciprocal tariffs on high-tariff nations. Apart from Google, the decision also benefited other US-based tech majors, such as Meta and X (formerly
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Business Standard
10-06-2025
- Business
- Business Standard
FTA negotiations: European Union relents on raw material supply clause
Bloc earlier wanted India to commit to uninterrupted supply Major geopolitical events like the Covid-19 pandemic and the Russia-Ukraine war have heightened global interest in securing energy and raw material supplies Asit Ranjan Mishra New Delhi Listen to This Article India has prevailed upon the European Union (EU) to set aside negotiations on the chapter on 'energy and raw material' under the proposed free-trade agreement (FTA) being discussed by the two sides. The EU had unilaterally included the chapter, which would have required India to commit to an uninterrupted supply of raw materials — such as petroleum products, chemicals, cotton, iron and steel, copper, and other critical metals — without imposing export restrictions. 'It had been agreed ahead of the round that discussions would be put aside for the time being (on the energy and raw material chapter),' said the
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Business Standard
05-06-2025
- Business
- Business Standard
Drop 10% universal tariff in bilateral trade agreement: India to US
India pushes for early tranche of trade deal to avoid potential 26% reciprocal tariff Asit Ranjan Mishra New Delhi Listen to This Article India is seeking a binding commitment from the United States (US) on pre-April 2 tariff levels for labour-intensive sectors as part of an early tranche of the proposed bilateral trade agreement (BTA). This would involve doing away with the universal 10 per cent tariff imposed by the Donald Trump administration. 'Since our labour-intensive exports face an additional 10 per cent tariff after April 2, while original tariffs were largely in low single digits, a commitment by the US to revert to its original tariff schedule would give us a competitive edge over other countries,' said a government official, requesting anonymity.
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Business Standard
03-06-2025
- Business
- Business Standard
US signals trade deal with India before July 9 reciprocal tariff deadline
Ready to give New Delhi preferential access in select sectors: Lutnick Asit Ranjan Mishra Delhi Listen to This Article American Secretary of Commerce Howard Lutnick has said a trade deal between India and the United States (US) could be finalised in the 'not too distant future' because 'we've found a place that really works for both countries'. He signalled that the agreement might be concluded before the end of a 90-day pause on American reciprocal tariffs, which expires on July 9. 'Those who come in, July 4th to July 9th, there's just going to be a pile,' Lutnick said during an event hosted by the US-India Strategic Partnership Forum (USISPF) in Washington DC on Monday. 'But those who are earlier
