New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Twitter's India-born CEO Parag Agrawal has told worried employees that he doesn't know "what direction this company will go in" once the whopping $44 billion deal, which will take the social media giant private, closes with new owner billionaire Elon Musk.
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
The government's fiscal deficits have reduced over the last five years.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
So far, 254 blocks of oil and gas have been auctioned.
Government think-tank body Niti Ayog CEO Amitabh Kant supported the industry demand and called for setting up of a single window clearance system for expeditious approval of projects. Start-ups and small medium enterprises requested the prime minister to provide support in low-cost capital at the virtual launch of space and satellite industry body Indian Space Association (ISpA).
If the power plants are reporting low coal stocks with them, it is largely because they have improved their power generation to meet higher demand.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
What China's market crash means for India
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
Two projects in Iran, which India is to execute involving major financial commitments on its part, are of particular significance for Indian steel.
From Twitter to Facebook to Spotify, everyone it seems is clambering aboard the social audio bandwagon. Neha Alawadhi reports.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
"We now realise that the so-called farmer agitation hardly remains a farmers' agitation. It has almost got infiltrated by Leftist and Maoist elements, a flavour of which we saw over the last two days when there were extraneous demands to release people who have been put behind bars for anti-national (and) who have been put behind bars for illegal activities," Goyal, the Minister for Railways, Commerce and Industry and Food and Consumers Affairs, said at FICCI's annual meeting.
Investors are sceptical that the economy could have picked up so much steam.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
It is a national economic problem and one that requires a political solution hand in hand with a clear government commitment to stand behind core national assets, says Vinayak Chatterjee.
Without directly referring to the farmers' agitation, which entered the 17th day on Saturday, Modi said agriculture reforms as part of government efforts are aimed at removing roadblocks, and the new laws will also bring in technology and investment in the sector.
If the court order is implemented, it will lead to an increase in the insurance outgo for car owners by a minimum Rs 50,000 for car and a minimum of Rs 7,000 for two-wheeler owners.
In the past, the absence of commercially viable gas prices had not only discouraged high-risk new exploration activity but also hindered the development of some of the existing discoveries, such as the satellite fields in the Reliance Industries' eastern offshore KG-D6 block.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
'Nehru wanted to strengthen industries by exploiting agriculture and that policy was continued by successive governments.'
India's indigenous basic trainer aircraft, Hindustan Turbo Trainer-40 (HTT-40), undertook its inaugural flight at the at the Hindustan Aeronautics Limited Airport in Bengaluru on Friday.
'For an introduction to his career-spanning genius, watch just five of his movies: Anand, Saudagar, Abhiman, Black and Pink,' notes Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
Singh, who arrived in Moscow on Wednesday on a three-day visit to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO), pressed for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier.
A dedicated physical gold exchange could lead to standard gold pricing in India.
While student housing, retirement homes, and co-living spaces are going to be new realty growth drivers, Parekh also said foreign investors have also been investing in a big way in good commercial projects, while warehousing is another segment where they are showing keen interest.
The order followed complaints against DLF Gurgaon Home Developers.
While there is a shortage of testing kits, manpower and capacities, India does not have other scalable testing options.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
According to sources, all private offices will work from home and only government offices and essential services will be open.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
The company said this new approach allows developers to train artificial intelligence models without the user data leaving the device, while allowing it to do more with less data.
'A perception has been built in our country that whatever Modi says you cannot challenge that.'
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
The government wants new domestic companies to set up their manufacturing units fast and hence the concessional tax rate of 15 per cent has been extended by a year till March 2024, revenue secretary Tarun Bajaj said on Friday. Stating that direct and indirect tax collections are going up and have good buoyancy, Bajaj said it means that the corporate sector is also doing well, and India's tax to GDP ratio could be "highest ever" in the current year. The Budget 2022-23 presented on February 1 has proposed that the concessional 15 per cent corporate tax rate would be available for one more year till March 2024 for newly incorporated manufacturing units.
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