PM suggests state-specific export plan; reviews projects worth Rs 1.41 trn

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Prime Minister on Wednesday asked states to develop a state-specific export strategy and reviewed development projects worth Rs 1.41 lakh crore spread across 10 states and union territories.


Reforms are beneficial only when one performs, and this is the way forward to transform the country, Modi said as he chaired the meeting of PRAGATI — an ICT-based multi-modal platform for Pro-Active Governance and Timely Implementation involving central and state governments.



In the PRAGATI meeting, multiple projects, grievances and programmes were reviewed, the Prime Minister’s Office said in a statement.


In the previous 32 such meetings, a total of 275 projects worth Rs 12.5 lakh crore have been reviewed, along with 47 programmes/schemes and grievances across 17 sectors that were taken up.


The projects, taken up at the 33rd such PRAGATI meeting on Wednesday, were of the Ministry of Railways, the Ministry of Road Transport and Highways, the Department for Promotion of Industry and Internal Trade, and the Power Ministry, the statement said.


These projects, with a total cost of Rs 1.41 lakh crore, were related to 10 states and union territories — Odisha,

Amazon-Future tussle: Singapore’s arbitration court rejects Biyani’s plea

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Ltd’s plea to be excluded from being a party to the Amazon-Future Coupons’ arbitration proceedings has been turned down and the Court of Singapore International Arbitration Centre (SIAC) has ordered that the arbitration shall proceed, according to sources.


In October, a single-judge bench of V K Rajah had given an interim arbitration award, barring Ltd (FRL) from taking any step to dispose of or encumber its assets or issuing any securities to secure any funding from a restricted party.



According to the sources close to the development, FRL had approached the Court of SIAC saying the arbitration proceedings were part of a contract to which the company is not a party. The company had pleaded that it be excluded from being a party on account of jurisdiction objection.


However, the Court of SIAC has decided that the arbitration process shall proceed and accordingly, a tribunal will be constituted in this matter.


Queries sent to and Ltd did not elicit any response.


In August last year, bought 49 per cent in one of Kishore Biyani-led Future Group’s unlisted

R&D Tax credit claims could pay 178k UK salaries for a year

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While growth in R&D tax relief claims has increased by 35% annually since inception in 2001 to over £4bn last year the scheme is yet to be fully utilised by UK business.

However, even with many remaining unaware that the work they are doing could qualify, the number of claims made does demonstrate the huge amount of innovative work taking place across the UK.

To highlight this great work and put the sums claimed into perspective, R&D specialists RIFT Research and Development has looked at how many people this sum could employ based on the average annual net salary and which region is top when it comes to R&D Tax Credit claims.

The research shows that there has been a huge £4.3bn claimed across all R&D tax credit schemes to date and with the average net salary currently sitting at £24,365, that’s enough to pay the wages of 177,711 for a whole year!

As you might expect, London is home to the largest number of claims with £1.2bn submitted and even with the higher annual salary of £31,567, the R&D work going on throughout the capital could employ 39,281 for a year.

R&D claims in the South East and East

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