• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Standing Committee report on attracting investment in the post-Covid economy

March 6, 2021
in Economy
Reading Time: 3 mins read
0
Standing Committee report on attracting investment in the post-Covid economy
66
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In News

  • The Standing Committee on Commerce (Chair: Mr. V. Vijay Sai Reddy) submitted its report on Attracting investment in post-Covid Economy: Challenges and Opportunities for India on February 10, 2021.

Key observations and recommendations of the Committee

    • Ease of doing business: The Committee noted that the centre has taken several initiatives (such as introduction of web-based forms for starting a business) to improve ease of doing business.It recommended that state and district level administrators should be sensitised to the need to expedite implementation of the initiatives.  
    • Logistics: There is a high cost to logistics due to heavy reliance on road transport, poor quality of road and port infrastructure, fragmented storage infrastructure, and the presence of multiple stakeholders.Further, logistics cost is higher for low value or bulk items such as those in the agricultural sector. 
      • The Committee recommended: 
        • implementation of steps to consolidate and formalise the logistics sector, 
        • improvement in the railway and inland waterway infrastructure,
        • finalisation of the National Logistics Policy for effective development of the sector. 
    • Automobile: The automobile sector recorded negative growth in 2019-20 and 2020-21.The Committee recognised a need to boost demand, promote exports, and improve ease of doing business.  
      • The Committee recommended: 
        • rate of GST on vehicles be reduced from 28% to 18%, 
        • agreements to promote exports in new markets such as in African and Asian countries be signed, 
        • a single window facility be provided to obtain all required approvals for setting up and starting manufacturing. 
    • Pharmaceuticals: The Committee expressed concern about the dependence on China for import of active pharmaceutical ingredients (APIs) which is a key ingredient in medicine. It was recommended that the production linked incentive (PLI) scheme to promote domestic manufacturing of APIs be extended to benefit existing API plants. Currently, the PLI scheme provides financial incentive for investment made in a new production facility or a new plant in an existing facility.
      • The pharmaceutical industry is one of the most polluting industries, and is subject to environmental restrictions.
      • The Committee recommended relaxing certain norms. 
      • These include allowing a 15% increase in approved pollution limit during a month of high demand without requirement of environmental clearance (unless increase in pollution persists for six consecutive months). 
    • Medical devices: Certain medical devices have price controls that fix the price of sale or restrict the maker from increasing its price by more than a certain threshold. The Committee recommended that pricing of medical devices must be separated from the pricing of drugs and a separate regulatory body should be created to monitor the same. It was further recommended that a Medical Devices Regulatory Act should be enacted. Currently, the pricing of drugs and medical devices is regulated by the Drug (Prices) Control Order, 2013. 
    • Electronics: India is the second-largest manufacturer of mobile phones. However, most of the mobile phones are assembled in India with parts imported from elsewhere. The Committee recommended that any investment by a foreign entity in electronics manufacturing must require investment in infrastructure and a promise of transfer of technology. It also recommended that the government consider imposing import duty to protect the domestic electronics manufacturing industry from cheap imports.
    • Steel
      • Challenges facing the steel industry include
        • large trade deficit, especially with China,
        • large financing requirement,
        • high logistics cost, 
        • regulatory delays.  
  • The Committee recommended
      • elimination of tariffs on the import of input materials for steel,
      • grant of infrastructure status to the steel sector for ease of availing financing,
      • formulation of time-bound process for clearing regulatory requirements (which would reduce the time to set up a steel plant from more than three years to less than one year).
image_pdfMake PDF
Source: PRS India
Tags: PrelimsPRS India

Related Posts

Revamped CGTMSE Scheme

Revamped CGTMSE Scheme

May 1, 2023
Common Reporting Standard

Common Reporting Standard

May 1, 2023
What is Gum Arabic?

What is Gum Arabic?

May 1, 2023
World Development Report 2023: Migrants, Refugees, and Societies

World Development Report 2023: Migrants, Refugees, and Societies

April 27, 2023
Manamadurai pottery

Manamadurai pottery

April 26, 2023
Logistic Performance Index (LPI) 2023

Logistic Performance Index (LPI) 2023

April 25, 2023
Parvatmala Pariyojana

Parvatmala Pariyojana

April 22, 2023
CPCB revised the financial grants for biomass pellet manufacturing units

CPCB revised the financial grants for biomass pellet manufacturing units

April 22, 2023
Global Unicorn Index 2023 by Hurun

Global Unicorn Index 2023 by Hurun

April 22, 2023
Mission 50K-EV4ECO of SIDBI

Mission 50K-EV4ECO of SIDBI

April 21, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« May    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In