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TMI BlogContribution of Manufacturing Sector to GDPX X X X Extracts X X X X X X X X Extracts X X X X ..... Contribution of Manufacturing Sector to GDP - News and Press Release Dated:- 29-4-2015 - News - Central Statistics Office (CSO) has recently revised the base year of National Accounts Statistics from 2004-05 to 2011-12, including introduction of new concepts such as Gross Value Added (GVA) at basic price. The sectoral contribution in the new series is now provided in terms of GVA, whereas in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earlier series such contributions were indicated in terms of GDP. CSO has informed that as per the advance estimates of national income 2014-15, the share of manufacturing in total GVA at basic prices in the year 2014-15 is estimated as 17 per cent. The National Manufacturing Policy (NMP) 2011 had envisaged enhancing the contribution of the manufacturing sector in GDP from about 15-16 per cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to 25 per cent in a decade s time. However, no similar targets were envisaged in terms of GVA, as this concept was not in use at the time of preparation of NMP 2011. The Government has been taking measures including, inter alia, administrative and regulatory measures, to accelerate the growth of manufacturing sector in the country. For the creation of conducive business environment, the Govern ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment is engaged in simplifying and rationalizing the processes and procedures for boosting investor sentiment, simplifying the Foreign Direct Investment (FDI) policy and correcting the inverted duty structure. Some of the recent initiatives towards this end include pruning the list of industries that can be considered as defence industries requiring industrial license, permissible extensions in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e validity of industrial license up to seven years, treating partial commencement of production as commencement of production of all the items included in the license etc. The recent amendments in FDI policy include allowing FDI in Defence up to 49% and FDI in Railway infrastructure up to 100%, easing the norms for FDI in construction and exempting FDI in medical devices from sectoral restrictions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of pharmaceuticals and raising permissible FDI in insurance from 26% to 49%. Further, the Government has launched the e-biz Mission Mode Project under the National e-Governance Plan, and 14 Central Services spanning a number of Ministries and Departments are now integrated in the e-Biz portal. Besides, the Government is implementing the Delhi Mumbai Industrial Corridor (DMIC) project. In addit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, the Government has conceptualized Amritsar Kolkata Industrial Corridor, Chennai-Bengaluru Industrial Corridor, Bengaluru Mumbai Economic Corridor and the Vizag-Chennai Industrial Corridor (as the first phase of an East Coast Economic Corridor), and setting up a National Industrial Corridor Development Authority for coordinating and overseeing progress of the various industrial corridors. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Government has launched a Make in India initiative under which 25 thrust sectors have been identified. Information on these 25 thrust sectors has been put up on Make in India s web portal (http://www.makeinindia.com) along with details of FDI Policy, National Manufacturing Policy, Intellectual Property Rights and the envisaged National Industrial Corridors including the Delhi Mumbai Industri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Corridor (DMIC). An Investor Facilitation Cell in 'Invest India' has been created to assist, guide and handhold investors during the various phases of business life cycle under the Make in India initiative with provision of back end support up to the State level. This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce Industry Smt. Nirma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... la Sitharaman in a written reply in Rajya Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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