State-run Life Insurance Corporation of India (LIC) has committed Rs 600 crore for its digital transformation journey, Sunder Krishnan, chief risk officer said on Wednesday. The insurance giant is also aiming to become completely "paperless" in two years. "We have hired a large system integrator for more than Rs 400 crore, a consultant for digital transformation for Rs 100 crore, and Rs 100 crore for agency transformation.
India Inc on Thursday pitched for lowering income tax burden on common man, increase in capital expenditure, and firm steps to contain food inflation in their nearly two-hour long interaction with finance minister Nirmala Shitharaman ahead of the Union Budget. During pre-Budget consultation with Sitharaman, the industry leaders and associations also urged the government to focus more on infrastructure development with a view to maintaining the economic growth momentum. The industry leaders also laid stress on boosting the MSME (micro, small, and medium enterprises) sector, considered a backbone of the Indian economy and main employment generator.
A senior official of India Post at Kolkata General Post Office told PTI that since e-commerce is a sunrise industry, it is trying to earn higher revenue in the region by involving local traders and business houses.
Taking a jibe at Gujarat Chief Minister Narendra Modi for his remarks that the National DemocratiC Alliance would come to power in the next general elections, Corporate Affairs Minister Veerappa Moily on Tuesday wondered whether the Bharatiya Janata leader would return to power in his own state.
The Central Vigilance Commission on Saturday indicated it did not want to come under Lokpal but work closely with the proposed anti-corruption ombudsman.
Bengal Inc wants politics to be kept out of business by the new government that will be decided in the ongoing assembly polls in West Bengal as they believe the prosperity of the state has taken a beating on account of political differences and issues.
The Union government on Monday indicated it was hopeful of a favourable reply from the US Securities and Exchange Commission to a request for being lenient on scam-hit Satyam Computers, thereby allowing it to remain on the rehabilitation track."We are expecting to get a fair judgment (from the SEC)," ministry of corporate affairs' Secretary, R Bandyopadhyay, said here at an interactive session organised by the Bengal Chamber of Commerce and Industry.
Taking a tough stance, External Affairs Minister Pranab Mukherjee on Sunday said that Pakistan had been given enough evidence regarding the Mumbai terror attacks and 'Islamabad must act'."We can deal only with the government of the day. Therefore, all arguments which are coming from the other side (Pakistan) are not really convincing," Mukherjee said.
The government has set a target of bringing the fiscal deficit down to 5 per cent of the GDP by 2011, and 4 per cent of the GDP by 2012.
Gopal Krishna Gandhi played a crucial role in trying to resolve the stalemate at Singur where Tata Motors suspended work on the Nano small car project for almost a month. The stand off between the ruling Left Front and the Opposition Trinamool Congress over acquisition of land for the project had dampened the prospects of Nano-roll out from the state as had been planned earlier.
"I cannot tell Ratan Tata to go back", the West Bengal chief minister said while speaking at the annual general meeting of Bengal Chamber of Commerce and Industry in Kolkata.
The subprime crisis and the ongoing financial crisis and the economic downturn may get worse before it gets any better in the American economy and the effect might as well spill over to 2010, warned American economist James R Barth.
Securities and Exchange Board of India on Tuesday said it would introduce Indian depository receipts (on the lines of American Depository Receipts or Global Depository Receipts
The government would not withdraw fringe benefit tax, which was introduced in the 2005-06 Budget, but the process would be made less painful, Central Board of Direct Taxes chairman M S Darda said on Friday.
Ten Indian companies are trying to set up base in the UK over the next one year, a British diplomat said in Kolkata on Monday.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
Public Provident Fund should be phased out over a period of time after the introduction of the new pension scheme proposed by the government, the interim Pension Fund Regulatory and Development Authority chairman D Swarup said on Saturday.
Jindal Steel is planning to set up a new steel plant in West Bengal at an investment of Rs 10,000-12,000 crore (Rs 100-120 billion).
AIFF plans to go ahead with the 2020-21 I-League season even if the clubs' star foreign recruits are unable to make it due to the coronavirus-forced travel restrictions.
The haircare brand, acquired for Rs 330 crore, fetches HUL around Rs 400 cr of revenue annually.
Mamata woos industry with boat ride to Gangasagar, Sundarbans
Prime Minister Singh has assigned a senior Congress leader to placate the President, who is upset with Finance Minister P Chidambaram, reports Anita Katyal.
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