The top two in the government and in the Bharatiya Janata Party, Prime Minister Narendra Modi and party President Amit Shah, respectively, spent the day trying to hard sell not just the contentious land Bill but also how the Modi government stood for the welfare of farmers.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
BJP gives only 7 per cent instead of promised 33 per cent representation to women in its national executive
Bharti will move FIPB soon for increasing Axa's stake to 49%
Banks have not cut rates yet as March is typically a busy season.
The government's top leadership was happy with Prabhu's Budget.
The rules seem to show he could have kept it, despite its much-reported value
Prime Minister Narendra Modi is expected to expand his cabinet when Parliament breaks for recess during the Budget Session. Archis Mohan reports
Allies, Opposition increase volume of criticism; hope in Kashmir, Assam
Sangh parivar is relying heavily on first-time voters and hopes women will also vote for Bedi. Archis Mohan reports
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
support for the AAP notwithstanding, the BJP is convinced it will win Delhi.
Several former colleagues say Kejriwal is undemocratic. But his loyalists stand stoutly behind him
Ashley J Tellis, a leading authority on Indo-US relations, tells Archis Mohan in an emailed interview that it is time Washington and New Delhi agreed on the contours of their 'strategic partnership', and that India's elite could learn from Prime Minister Narendra Modi in how he has put India's interests first and his own sentiments about the Americans second.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
US President Barack Obama told Prime Minister Narendra Modi, when the two met on the sidelines of the East Asia Summit in Myanmar in November 2014, how he barely had two years left to his presidential term and so much to do. The wish list included getting his daughters to see a tiger in the wild and the Taj Mahal.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
Party insiders say middle class votes can be captured if Kiran Bedi is declared BJP chief ministerial candidate. Archis Mohan reports
Sources in New Delhi say senior PDP leader Muzaffar Hussain Baig is likely to meet Prime Minister Narendra Modi, which could signal the launch of formal negotiations between the two political parties
The VHP leadership notes that 'ghar wapsi' wasn't something started after the Modi govt took over. Archis Mohan reports
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