'One of the ways to do that is to ensure that NBFCs have got liquidity.' 'If we don't do that, this mood of gloom will continue.' NBFCs need to be provided with liquidity if they have to start lending.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
The session, which will continue till August 11, is likely to discuss issues like lynching incidents and vigilantism, the Kashmir situation and the border stand-off with China.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Rejecting criticism of jobless growth, he said if state after state is creating good number of jobs, how can the Centre be creating joblessness?
'The fabric of democracy is fraying,' says T V R Shenoy. 'It is being attacked not just by terrorists in Kashmir or by zealots in the North-East, but is being ripped apart even in Allahabad, in the Hindi heartland.'
Six months into his new role, Vishal Wanchoo, president and chief executive officer, GE, South Asia, speaks to Jyoti Mukul about how its horizontal business lines of additives and digital are playing across its verticals.
The incoming government will have to encourage private investments, bring down cost of capital
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Dealmakers and advisors feel investors are shifting their focus to Asia Pacific, especially India, owing to geopolitical instability driven by events such as Brexit and protectionist trade wars.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
RBI is expected to discuss about the impact of GST in its monetary policy.
'The IAS officers are after the rich people, the IRS officers are after the middle class and the IPS officers are after the poor. This is the new varnashrama created by the bureaucracy.'
Modi said the ease of doing business ranking improved because the government initiated reforms to end difficulties in the lives of people.
The markets will be eyeing the amendments.
How will the Modi Sarkar's likely return affect other nations?
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
The failure to reform has meant that there is no buzz about job opportunities, or about urban opportunities enticing young people off the farms. And it is this failure that has contributed to the widespread disappointment that threatens to make the next general elections closer than expected, says Mihir S Sharma.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The Finance Minister and senior party leader Arun Jaitley said the Congress does not deserve "even a single vote" for its promises, such as doing away with sedition law.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
BJP strategists need to remember even at this late hour that 'negativism' sells when you are in the Opposition as the Indian voter has mostly voted anti-incumbency, and not when you are in power. You still needed to highlight your achievements and promises, and let the voter draw his conclusions, says N Sathiya Moorthy.
Shaktikanta Das said in Washington, DC, that there was nothing sacrosanct about the 25 bps rate cut and that monetary policy could be well served by calibrating the size of the policy rate to the dynamics of the situation, and the size of the change itself could convey the stance of policy.
Younger party leaders are livid with the Murli Manohar Joshi-headed manifesto drafting committee for not taking their suggestions, reports Archis Mohan.
The Singapore Minister applauded Prime Minister Modi's effort to make India the manufacturing hub of the world.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
A glance back at some important events that occurred in 2018.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
The senior Congress leader also said over 90 per cent of jobs are in the SME sector which requires an urgent push to boost the economy.
The S&P BSE Sensex surged 217 points to end at 25,736.
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
Zakir Ali Tyagi was charged under the Indian Penal Code's Section 420 (cheating) and Section 66 of the Information Technology Act (computer related offences).
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
The Budget sets out a comprehensive vision.
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
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