Duty Free Tariff Preference boosted Tanzanian exports; enhanced sectoral cooperation and visa facilitation proposed to deepen trade.
India and Tanzania reaffirmed bilateral trade and investment cooperation, emphasizing expansion of Tanzanian market access under the Duty Free Tariff Preference Scheme, promotion of Indian investment in mining and infrastructure, and sectoral collaboration in energy, mining, gems and jewellery, transport, agriculture, water projects, fisheries, SMEs, and capacity building. Delegations discussed regulatory facilitation, including enhancement of the visa regime through long term multi entry visas for reputable businesses alongside visa on arrival, and agreed to deepen cooperation based on comparative advantage, recording the understandings in a jointly signed document.

Trade liberalization sought through tariff cuts, simplification of customs and non tariff barrier reforms to boost bilateral commerce.
Creation of an Uzbek India Joint Venture trading house and a private industry led Joint Business Council was proposed to boost investments and trade, coupled with accession to the INSTC to strengthen transport and logistics. Parties sought tariff reductions on leather, footwear, fabrics and readymade garments and urged simplification of registration, certification and customs procedures. The Ministers identified Non Tariff Barriers-quotas, licensing, foreign exchange and price controls, complex customs rules and sanitary norms-as limiting trade, and pressed for visa facilitation for business and tourism.

Agricultural processing scheme boosts food processing capacity and supply chains, enhancing farmer incomes and rural employment.
The Cabinet approved continuation and renaming of the Central Sector Scheme as Pradhan Mantri Kisan Sampada Yojana (PMKSY) for 2016-20 to modernize agro-processing, reduce agri-waste and strengthen farm to retail supply chains. PMKSY consolidates existing schemes and adds new components to create modern infrastructure, increase processing and exports, improve farmer prices, and generate rural employment. Complementary measures include liberalised foreign investment in food trading, a NABARD fund for concessional credit to food parks, and bringing food processing and cold chain infrastructure under Priority Sector Lending.

Tax reform proposals aim to curb evasion, broaden the base, streamline customs and drive disinvestment and regulatory simplification.
The three-year action agenda finalised after consultation with chief ministers focuses on tax reforms to check evasion, expand the tax base and simplify taxation, considers consolidating customs duty rates into a unified rate, proposes strengthening public procurement, recommends closure of non-viable public enterprises and strategic disinvestment in select state-owned companies, and calls for an institutional mechanism to promote competition through regulatory review.

IPR enforcement strengthened through national workshops and training to improve police, Customs and prosecution coordination and response.
A national workshop and related training programmes aim to strengthen enforcement of Intellectual Property Rights by educating police, Customs and prosecution officials on investigation, prosecution, best practices and inter agency coordination, supplemented by academy curriculum integration and a practical toolkit for dealing with trademark counterfeiting and copyright piracy.

Online single-window approval for ICD/CFS/AFS applications increases transparency and tracks inter-ministerial clearances with SMS and email alerts.
A web-based single window system centralises submission and electronic routing of ICD/CFS/AFS applications, makes inter-agency processing stages visible to applicants with SMS and email alerts, and preserves the Inter-Ministerial Committee approval mechanism, requiring infrastructure compliance, jurisdictional security clearance, and a bond backed by a bank guarantee before customs issues final operational notification.

Exchange Rate Determination: notified conversion rates for specified foreign currencies for import and export goods.
Determination of exchange rates under section 14 of the Customs Act, 1962: the Central Board of Excise and Customs notifies specific conversion rates for listed foreign currencies into Indian rupees, prescribing separate rates for import and export valuation in annexed schedules and superseding the earlier notification for future application.

Fiscal consolidation pursued with Budget procedural reforms and GST introduction reshaping indirect tax architecture and macro policy.
Fiscal policy combined strong tax revenue growth, sustained capital spending and consolidation of non salary/pension revenue expenditure to pursue gradual fiscal consolidation, accompanied by procedural Budget reforms and the introduction of the Goods and Services Tax; monetary policy moved from easing to neutral amid post note withdrawal monetary contraction, decelerating credit, rising bank asset quality concerns and progress on financial inclusion and renewable finance measures.

Macro-economic stability strengthened by reforms but growth constrained by sectoral stress and deflationary pressures.
The Survey finds renewed confidence in macro-economic stability driven by reforms (GST, demonetization effects on formalization, privatization moves, subsidy rationalization) and structural oil-market shifts, while warning that deflationary impulses-stressed farm revenues, fiscal effects of loan waivers, and rising sectoral stress in power and telecoms-are weighing on growth; it stresses that sustaining growth requires investment and export revival and cleaning up balance sheets to restore credit, and that near-term inflation will be shaped by capital flows, exchange rates, monsoon, GST, pay awards, loan waivers and the output gap.

Return of unused SEZ land drives petition seeking probe and restoration to affected farmers, prompting mandated responses
A public interest petition seeks return of unused Special Economic Zone (SEZ) land to farmers and a court monitored CBI probe into alleged rule flouting by SEZ developers, citing CAG findings and parliamentary admissions of extensive unutilised SEZ acreage. The petition alleges land was mortgaged and loan proceeds not used for development, requests civil and criminal proceedings for failure to perform obligations, seeks declaration of acquisitions as violative of livelihood and equality rights, and asks for a comprehensive social impact study; several states were directed to file responses within a fixed time.

Exchange rate determination sets operative currency conversion rates for customs valuation of imports and exports effective August date.
Determination under the Customs Act sets specified conversion rates between listed foreign currencies and the Indian rupee, effective 4 August 2017, superseding the prior notification. Separate annexed schedules prescribe distinct rupee equivalents for imports and for exports-Schedule I by unit rates for major currencies and Schedule II by rates per one hundred units for certain currencies-establishing the operative exchange figures for customs valuation and export realisation of goods.

Free trade negotiations with African regional groups advance to deepen bilateral commercial ties and promote sectoral cooperation and investment.
Government measures to strengthen commerce with African countries employ bilateral review mechanisms and ministerial engagement, while negotiations proceed for a Free Trade Agreement with the Common Market for Eastern and Southern Africa, a Preferential Trade Agreement with the South African Customs Union, and a Comprehensive Economic Co-operation Partnership Agreement with Mauritius; trade promotion under the Market Access Initiative and sectoral cooperation events support export diversification and investment in areas such as agriculture, renewable energy, education and IT services.

Spices Board technical support pledged for state funded Spice Park projects, with an SDA to coordinate quality and export infrastructure.
The Central Government received a proposal for a Spice Park at Nizamabad and indicated the Spices Board will provide technical support if the State supplies land and funds; it approved a Spice Development Agency headquartered at Warangal to coordinate research, production, marketing, quality improvement and export activities. The Export Oriented Production, Export Development & Promotion of Spices scheme provides for infrastructure for common processing in Spice Parks, upgraded processing technology, quality evaluation labs for export testing, post harvest quality improvement assistance, and training in Good Agricultural Practices.

Monetary Policy Committee cuts policy repo rate 25 bps to 6.00%, maintains neutral stance to balance inflation and growth.
The Monetary Policy Committee cut the policy repo rate by 25 basis points to 6.00%, adjusted associated LAF rates, and maintained a neutral stance to balance the objective of achieving CPI inflation around 4% with support for growth. The action reflected very low headline inflation, moderating core inflation, surplus liquidity managed through MSS/TBs and CMBs, and downside growth pressures from weak manufacturing and corporate deleveraging, while acknowledging upside risks from HRA implementation, state fiscal actions and seasonal food-price spikes. Real GVA growth was retained at 7.3% with risks evenly balanced.

Round the clock operation of Petrapole Benapole ICP expedites cargo clearance and facilitates continuous bilateral trade across the border.
The Integrated Check Post at Petrapole-Benapole will operate round the clock from 01 August 2017; implementing agencies have issued operational instructions to enable 24x7 functioning, intended to expedite cargo clearance and support increased bilateral trade throughput.