Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Based on the evidence at hand, Modi's goal of scripting a broader, lasting upturn appears some way off, says Rajesh Kumar Singh.
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
The panel, however, set some conditions for the company, including that Cairn India will have to upload the status of environment compliance, including results of monitored data, on its website and update it periodically.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
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A Reuters poll had forecast retail inflation would edge up to 8.48 per cent from 8.31 per cent in March.
Analysts polled by Reuters had forecast a contraction of 1.5 per cent in output.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
Analysts polled by Reuters had forecast an annual growth of 0.9 per cent in output.
There are just 1,500 drug inspectors responsible for more than 10,000 factories in India
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
India said on Tuesday it was investigating US policies supporting solar panel makers, the latest move in an escalating row over renewable energy that has worsened already strained ties between the two countries.
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
In November, wholesale prices, India's main inflation measure, rose 7.52 percent, their fastest pace in 14 months.
Food prices for consumers last month rose 12.16 per cent from a year earlier, slower than November's 14.72 per cent rise.
All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
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