Economy
NCAER lowers GDP growth rate
THE National Council of Applied Economic Research (NCAER) has scaled down the gross domestic product (GDP) growth of the economy for the current fiscal by a few notches to 4.8 per cent from the 5.6 per cent it projected in August.

Foreign Trade
India urged to use S. Africa as regional trade gateway
SOUTH Africa can be used as a gateway to larger market in the African region. India can take advantage of South Africas Customs Union Agreement with its neighbouring countries like Botswana, Swaziland and Namibia. By virtue of this agreement, goods produ ced indigenously or imported from outside would flow freely among countries concerned.

Database to curb valuation frauds likely
MUMBAI: In an effort to prevent valuation frauds in import/export trade which entail revenue loss for the national exchequer the Directorate of Valuation under the Central Board of Excise and Customs (CBEC) is developing a national electronic database to analyse and disseminate across the country trade data.

Taxation
Assocham for early VAT
NEW DELHI: The Associated Chambers of Commerce and Industry of India (Assocham) has urged the Central and State Governments to initiate steps towards the introduction of a comprehensive and national VAT regime in the country.

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