India and South Korea agreed upon a comprehensive economic trade agreement that will open the way for duty-free trade between the two countries. The pact is expected to be signed in August. The pact covers six areas including trade in goods and services, trade facilitation and dispute settlement, said the Economic Times of India. The agreement, when formalized, ...

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Minister for Railways Mamata Banerjee announced that under the Railway Budget 2009, freight and passenger fares will not be raised. Banerjee said passenger amenities are a priority in this year’s budget. Improvements will include expanded ticketing systems, more modern train station facilities, air conditioned cars and more. Another new initiative includes setting up medical facilities at major stations and a ...

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The Development Commissioner (MSME) announced a support scheme for MSMEs through incubators for entrepreneurial and management development. The main objective of the scheme is promoting technological and knowledge-based ventures to create innovative new business ideas, said the SME Times. The Ministry of MSME, which oversees entrepreneurship and creation of employment, is heading up the initiative. For details on ...

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How the global economic crisis affected the micro, small and medium enterprise sector has not been assessed because of the limitations of the data available, said the recently presented Economic Survey. The 4th Census of the MSME sector is being launched to create a database to track future growth and development. Creating an Internet information system will also help MSMEs market ...

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The Economic Survey, which was tabled by Parliament on the first day of the budget session, presents a cautiously optimistic outlook for the economy. The survey projects the economy could grow by up to 7 percent by Q3. That growth depends on Parliament quickly pushing through economic reforms related to foreign investment, energy pricing and balancing the trade ...

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