India's foreign investment panel has approved Swedish retailer IKEA's Rs 10,000 crore plan to set up shop in the country, the trade minister said.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
Mandatory pvt participation, annual tariff hikes, conforming to FRBM limits seen difficult.
Ernst & Young LLP India has been appointed as transaction adviser for the strategic divestment process.
Bihar Chief Minister Nitish Kumar has long been demanding special category status for his state.
The government had proposed to raise Rs 30,000 crore from divestment in the current fiscal.
A meeting of the CCEA is likely to be held next week.
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The move came a day after Parliament approved two agriculture sector-reform bills which have been bitterly opposed by the opposition parties like Congress and TMC.
In a major decision to liberalise the broadcast sector, the government on Friday decided to raise FDI cap to 74 per cent in various services of the sector, except the TV news channels and FM radio where the cap of 26 per cent will apply.
In a bid to strengthen their bilateral economic ties, India and Indonesia plan to explore opportunities for co-operation in oil and gas, and railway sectors, among other areas.
The total investor wealth in domestic stock markets soared by Rs 1.53 lakh crore as investors cheered energy reforms, including hike in natural gas prices.
As per Sebi norms, a public sector listed company should have 10 per cent public float by August 08, 2013.
Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
For next fiscal, the minority stake sale target has been kept at Rs 36,000 crore.
The government on Wednesday decided to speed up the process for appointment of merchant bankers for its Rs 400 billion (Rs 40,000 crore) divestment plan.
The government on Thursday further liberalised the foreing investment regime by allowing Foreign Investment Promotion Board to clear proposals from overseas entities worth up to Rs 1,200 crore (Rs 12 billion), against the existing limit of Rs 600 crore (Rs 6 billion).
The government is planning an extensive exercise to map a "hazard line" along the country's 7,500 km coastline, from Gujarat to West Bengal. This marks the first time environmentally sensitive coastal areas will be clearly demarcated. The Rs 1,156-crore project, known as the Integrated Coastal Zone Management (ICZM) project, was approved by the Cabinet Committee on Economic Affairs (CCEA) on Thursday.
The government's decision to divest its stake in power PSU NTPC would be delayed as the Cabinet Committee on Economic Affairs could not meet on Thursday due to pre-occupation of key ministers.
A meeting of the CCEA, chaired by Prime Minister Manmohan Singh, approved 'splitting of the production sharing contract for Block AA-ON/7 in two parts, to consider separate exploration period of Nagaland part of the block,' an official statement said.
The Union Cabinet on Thursday gave its approval to establish a special purpose vehicle for funding infrastructure projects
The ED had filed the first chargesheet in the case against Chidambaram's son Karti; later, a supplementary chargesheet was also filed against him.
Central government employees and pensioners will get an additional 6 per cent dearness allowance from next month, putting a burden of over Rs 6,000 crore (Rs 60 billion) on the exchequer.
The Indian mutual funds, hit hard by redemption pressure, have something to cheer with the government allowing navratnas and mini-ratnas to invest 30 per cent of their surplus funds in equity market through public sector mutual funds.
The Central Bureau of Investigation had called Karti for questioning on Thursday in connection with the foreign investment clearance given in the Aircel-Maxis deal in 2006 when his father Chidambaram was the finance minister.
Dismissing as 'statistically insignificant' the 0.04 per cent hike in inflation, Finance Minister P Chidambaram on Friday said the prices of essential commodities had begun to come down and this would be reflected in the inflation index after some time. Talking to reporters after the weekly briefing on the decisions of the Cabinet and its Committee on Economic Affairs (CCEA), Chidambaram said the inflation figure released on Friday has come as a 'big relief'.
Karti, through his lawyer, has refused to appear before the agency saying a special court had discharged all the accused in the matter.
The coal-bearing states shall be getting additional revenue from such coal mines.
The national highways selected for upgrade include -- Gurgaon-Jaipur, Surat-Dahisar, Chilkaluripet-Vijaywada and Panipat-Jalandhar. These four stretches together measure about 838 km.
The allotment is expected to attract investments of $1.5 billion, around 57 per cent less than the $3.5 billion commitment for the 52 blocks awarded under the previous auction. ONGC and its partners bagged the maximum number of 20 blocks in the seventh round, which closed on June 30. Australian mining major BHP Billiton and its partner GVK Power, bidding for the first time, won seven deepwater blocks.
The Cabinet Committee on Economic Affairs has approved the purchase of 68 aircraft by the country's flagship carrier Air India, Civil Aviation Minister Praful Patel said on Thursday.
A 1985-batch Karnataka cadre officer, Kharola would be steering the national airline at a time when the government has started the process for its strategic divestment.
India and Russia have decided to explore signing a Comprehensive Economic Partnership Agreement that will include not only features of a foreign trade agreement but also trade in services and investment.
Centre working on open-ended lease agreement to enablesale of property at the end of the agreement period
The Department of Telecom gearing up for the 3G spectrum auction as per schedule on January 30 and has left it to the Cabinet Committee on Economic Affairs to take a call on the reserve price for a pan-India 3G licence.
DIPP had proposed 100% FDI in Railways, which it had to now scale down to 74% in certain areas
With India joining the project, it would be called TAPI (Turkmenistan-Afghanistan-Pakistan-India) pipeline.
Launching the auction of mines for commercial mining, that is expected to garner Rs 33,000 crore of capital investment in the country over next five to seven years, Modi said it not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal.
Contrary to the general impression, the revival of under performing public sector companies is not a costly exercise with Board of Reconstruction of Public Enterprises coming out with recommendations.
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