Likely to select from 3 shortlisted; follows Sanjeev Kaushik's refusal to take the job if made to retire from IAS
'The international community is moving away from harmful tax practices.'
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 department of economic affairs in the Union finance ministry has suggested aggressive sterilisation of foreign capital inflows, tightening of government expenditure and intervention in key farm produce markets like wheat.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
The Union Cabinet and the Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a slew of social sector initiatives, including treating the backlog of reserved vacancies of other backward classes (OBCs) as a distinct group not subject to the limit of 50 per cent reservation in a year.
Provided talks on the matter are fruitful, the dividend payout will made during the current RBI financial year ending June 30, 2018.
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The National Spot Exchange Ltd, promoted by Jignesh Shah-led Financial Technologies, is facing a Rs 5,600-crore (Rs 56-billion) settlement crisis.
Some genius assumed that a 2,000 note could seamlessly replace 500s and 1000s in ordinary transactions. If that genius had consulted an actual chai-wallah, he might have thought twice, argues Devangshu Datta.
The Cabinet Committee on Economic Affairs has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group.
Overall, cumulative direct investment from China stood at just $2.05 billion till June 2018, according to consolidated DIPP figures
Germany is keen on investing in specific areas in West Bengal as part of a bid to strengthen Indo-German bilateral ties.
Parliament's PAC rejects BJP MP Kirit Somaiya's plea that the briefing be postponed.
The Cabinet Committee on Economic Affairs on Friday cleared award of four Coal Bed Methane (CBM) blocks to an Anil Dhirubhai Ambani Group-led consortium and three blocks to a consortium led by Australia's Arrow Energy.
At present, 60 per cent of the mutual fund industry's corpus comes from fixed income schemes, which invest in stable return giving instruments such as government securities and bonds.
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
'The committee has all the right to call anybody involved in the matter. But that will depend on the outcome of the January 20 meeting. We can call the PM on demonetisation if the members unanimously decide so.'
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
"ITIRs were conceptualised keeping in view the need to boost the growth of both IT/IT enabled services (ITeS) and Electronic Hardware Manufacturing (EHM) units," an official statement said. These regions would become major magnets for investment, creating employment opportunities and economic growth in the area while reducing the pressure on existing urban centres by enabling growth of new townships, it added. The ITIRs will be much larger than IT SEZs.
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
One wing of the government's definition of what constitues infrastructure is different from that of another and this needs to be resolved fast.
'Urjit Patel's appointment is a right decision and in the interest of the country.'
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
The high level of capital inflows has forced the government to put fresh restrictions on ECBs. In August this year, the Reserve Bank of India tightened ECB rules by limiting the use of foreign loans in India at $20 million per company.
Economic Affairs secretary S C Garg said inflation has consistently come down since 2014 and will not cross 4 per cent this fiscal.
Some real estate companies were using this route to raise funds. Given the stringent conditions for ECBs, these companies would now find it difficult to raise funds.
RBI has maintained the stock of currency through advance as well as current printing level
The rate hike in the future is set to be 'calibrated and cautious'.
After attacking the Jet-Etihad deal, Janata Party President Subramanian Swamy on Wednesday trained his guns on the Air Asia proposal to set up an Indian carrier, saying the FIPB clearance to it was "not legally valid".
Both the institutions will take up common academic programmes, initiate joint research and exchange students.
Indian businessmen would succeed in the European market due to the region's high per capita income and purchasing capacity, Bavarian Minister for Economic Affairs, Infrastructure, Transport and Technology, Erwin Huber said on Thursday. \n
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.
'His (Das) approach to work seems that of working as a team with ease in communication.'
The government of Switzerland will not be taking up the allegation by Novartis that Indian patent law is incompatible with the Trade-Related Aspects of Intellectual Property Rights agreement at the dispute settlement board of the WTO.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
Setting up of the network will ensure that each accident victim on these corridors is able to get medical assistance in time. In fact, the draft policy on road safety, which the Ministry for Road Transport and Highways is currently finalising, also carries a proposal on the same lines.
The facility will be open till November 30.
The old India was economically fragmented. New India will create one tax, one market, one nation, said Jaitley.
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