Disinvestment Secretary Mohammad Haleem Khan told Business Standard that till now, public sector companies were only allowed to invest in mutual funds, apart from putting money in bank fixed deposits, but the Cabinet had now approved the proposal to allow these companies to buy equities of other CPSEs.
Finance Minister Pranab Mukherjee will likely encapsulate this thinking in his Budget speech, to be finalised by March 13.
The requirement of one million units would entail a huge market for firms such as HCL Infosystems, Geodesic, VeriFone, Visiontek and others manufacturing micro-ATMs.
Move to allow the FDI in domestic airlines is expected to benefit Kingfisher Airlines.
Analysts say July 23, 2011, was like a red letter day for foreign investors when the Committee of Secretaries, headed by Cabinet Secretary Ajit Kumar Seth, recommended opening up the multi-brand retail trade.
The Unique Identifiaction Authority of India is expediting creation of platforms for implementing the model, likely to include coverage of the Public Distribution System and other areas of subsidy, and also government's social sector schemes.
Flipkart, founded by two former Amazon executives, Binny Bansal and Sachin Bansal, has been a talking point vis-a-vis Amazon's strategy in India.
Bailout packages for fiscally stressed states are in the works, as the government seeks to garner political backing for the key policy reforms it plans to fast-track after the five state elections. A senior finance ministry official involved in the process said a high-level committee under expenditure secretary Sumit Bose had held consultations to identify measures to help West Bengal, Punjab and Kerala.
Provident fund body may get support to ensure interest rate comparable with other savings instruments.
The authority is set to cross the target by the end of this month, with a million enrolments every day. It has already allotted 116.3 million Aadhar numbers.
Clause on 30% sourcing from Indian SMEs a particular concern.
A senior government official says the idea is to facilitate mutually beneficial ways to keep the supply going.
Bankers and industry analysts say a number of public and private sector banks have expressed willingness to offer fresh loans to Indian companies to help them repay their overseas dues maturing in the near term.
The strategy is aimed at putting critical economic policy initiatives in top gear immediately after the completion of Assembly polls in the five states in early March.
It's not just the high street across India that will feel the pinch of the weakening rupee against the dollar.
The investment to the country from India, which has been at the top of the 2009-10 list of the destinations to which Indian investment is flowing, was $3798.5 million.
Recent slide in inflation no consolation amid exceptional shrinkage in industrial growth.
Mop-up trends hint at major slippage; CBDT braces to meet Budget target.
Cabinet nod not required after commerce ministry approval.
International single-brand retail companies are likely to shift to a new fee-based local partnership format in India from the present equity-sharing model, once the revised policy on foreign direct investment in this segment takes effect.
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