Large steel producers had reduced prices up to Rs 4,000 per tonne on request of Prime Minister Manmohan Singh on May 7. They had also agreed to hold the price line for the next three months. The three-month price moratorium expires in August.
An Assocham survey has predicted interest rate cuts by RBI following fears of recession and slowdown in industrial growth.
In a communication to chief secretaries and director generals of police of all states, the ministry asked them to take action to allay apprehensions and maintain peace and tranquillity, and inform people about the availability of food, medicine and other essential commodities.
High spectrum charges would lead to rise in mobile services rates and adversely impact government's Digital India initiative by impeding telecom network expansion.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
Narendra Modi has earned a ranking of eight out of 10 in an India Inc survey.
In its study 'Trends of Pocket Money in Urban Areas', Assocham said the spending habits of children, under the age group of 10-17 years, have evolved due to technological revolutions and changing eating habits. Of the 2,500 children respondents living in urban areas, majority spend their pocket money on fast food, soft drinks, clothing, gift articles, mobile recharge coupons, chocolates, cosmetics, magazines, computer games, movies, it said.
Results of four state elections are giving a strong message that government and political parties need to ensure good governance and provide corruption free rule, industry leaders said on Sunday.
Sale of sweets has fallen by 40 per cent this Diwali season with a shift in consumer preference, industry body Assocham said on Thursday. "The gift exchange this year is tilted more towards assorted food articles rather than sweets as a result of the sales of former have picked up many times," Assocham said.
Of the total investment announcements, tracked by an Assocham Eco Pulse study during August and September this year, the petroleum sector attracted Rs 53,300 crore (Rs 533 billion) with Indian Oil Corporation and the Reliance Group planning to pump in Rs 43,500 crore (Rs 435 billion) and Rs 8,000 crore (Rs 80 billion) respectively.
As the economy has crossed over 9 per cent growth, the industry is facing the supply constraint of trained manpower, resulting in higher wages.
On an average, Delhiites pocketed highest incomes of Rs 49,172 followed by Goans who earned Rs 47,507 during the year, even though their per head earnings grew at 6.9 per cent and 6 per cent respectively.
Newly-elected president of industry body Assocham and Videocon chief Venugopal Dhoot on Tuesday said he was against "land grabbing" in the name of SEZs
Slym, 51, died after falling from a high floor of the hotel in Yannawa district, Bangkok.
Majority of India Inc is of the view that extreme moves in the form of monetary tightening made by the Reserve Bank to curtail inflationary pressure would slow down economic growth, a survey by industry chamber Assocham reveals.
The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
Thanks to Bt, India's cotton fields are not suicide fields any more. The genetically modified seed has come as a godsend for farmers in several cotton-growing states with many of them reaping in rich dividends from Bt Cotton cultivation.
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
Online shopping is growing exponentially in India.
Tax holidays, cheaper labour and lower land costs would enable the smaller states of Uttaranchal, Himachal Pradesh, Chattisgarh and Jharkhand to emerge as preferred destinations for investment, industry body Assocham said.
The salary packages offered at these b-schools have also been curtailed by 40-45 per cent as compared to last year, says ASSOCHAM.
South-east Asian countries are emerging as preferable destination for India's pharma companies to expand their business as they share similar patient population and disease profile and moreover, have a conducive environment for their operations like easy market approach without any regulatory uncertainty, the survey of Indian pharma firms highlighted.
Maharashtra has become the hub for the service and electricity industries which together attracted investment over Rs 67,000 crore (Rs 670 billion) in 2013.
Gross NPAs of public sector banks were Rs 41,378 crore (Rs 413.78 billion) in March 2006, which came down to Rs 38,305 crore (Rs 383.05 billion) in March 2007 because of better economic environment.
An Assocham survey says that 85% of the 150 CEOs surveyed want the government to rethink its decision.
With demand for dwelling units slated to grow to 80 million for the lower middle and low income groups, involving an estimated investment of $670 billion, the housing sector will see four million new jobs by 2015.
The study also found that new job generation plummeted in most sectors as about 20 out of the total 32 sectors tracked by the study registered a fall in new job generation.
Industry body Assocham on Monday said country's top CEOs are in favour of signing a specialised free trade agreement with the European Union in services.
In view of the difficulties faced by the corporates due to torrential rains in Maharshtra and Gujarat, industry body Assocham has sought extension of deadline for payment of service tax to August 20.
As many as 85 per cent of the country's chief executive officers and managing directors favour the strength of independent directors in listed companies to be not more than one-fourth of the board's strength, a study by Assocham has said.
Deficiency in rainfall and the resultant decline in food grains and oilseeds output would exert inflationary pressures and need to be cushioned against the possible delay in monsoon, an Assocham study said.
The staff cost of India Inc is increasing at a faster rate of 22 per cent than the growth in net profit and total income coming on the back of accretion in the headcount as also the higher pay packets, according to Assocham.
Industry body Assocham on Monday said service tax is likely to fetch Rs 60,000 crore (Rs 600 billion) by 2010 if government doubles the existing service tax list of 72 items.
India's domestic steel demand will remain buoyant despite international steel prices likely to remain firm at least for the next few years, according to an Assocham study.
Maharashtra, Gujarat, Uttar Pradesh, Haryana, Madhya Pradesh, Bihar, Meghalaya, Delhi, Himachal Pradesh, Rajasthan, Jammu & Kashmir and Punjab hit hard.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
Maharashtra has the highest share - over 16 per cent -- in the motor insurance premium (own damage category) of about Rs 17,098 crore (Rs 170.98 billion) collected as of 2012-13 in the country, whereas Gujarat tops in terms of annual growth rate, an Assocham study said.
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