The Associated Chambers of Commerce and Industry (Assocham) on Tuesday said the new government may bring in legislation on job reservation in the private sector for scheduled castes (SCs), scheduled tribes (STs) and backward classes but the industry chamber will oppose any such move.
Govt wants to up investment in Railways
At a time when professionals charge hefty sitting fees, the government-appointed directors who worked long-hours to revive crisis-hit Maytas Infra worked for free.
India must have a "contingency plan" in place to ring-fence the country's economy if the political showdown in the US leads to a default on its international monetary obligations, industry body Assocham said.
Despite being the fourth largest economy, India's per capita emission levels are 70 per cent below world average and 93 per cent lower than those in the United States, says a latest report on climate change.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
RBI had made available a potential liquidity of Rs 5.60 lakh crore (Rs 5.6 trillion), nearly 9 per cent of gross domestic product, to help the country tide over the liquidity crisis following the global financial meltdown triggered by the collapse of America's iconic investment banker Lehman Brothers in mid-September.
India must take urgent measures like issuing sovereign guaranteed bonds and exempting FIIs from short term capital gains tax to stem the rupee's slide, India Inc said.
Buoyed by the recovery in the real estate sector, realty giant DLF on Thursday said it will hire people to sustain growth of the company.
The direct tax collection for 2009-10 is likely to be around Rs 3.80 lakh crore, missing the revised target by Rs 7,000 crore (Rs 70 billion).
Gold is likely to touch Rs 18,000 per 10 gram during the forthcoming festival season as the demand for the yellow metal peaks around Diwali time, according to a projection by industry body Assocham.
What's even more worrying is the age distribution.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
About 20 per cent of India's manufacturing firms in sectors like engineering, textiles and aviation are not able to produce quality products due to obsolete machinery and technology, according to a study by industry body Assocham.
The Securities and Exchange Board of India is in final stages of putting in place the system, which is expected to become operational in a couple of months. At present, there are three exchanges -- the BSE, NSE, and MCX -- which have trading in currency futures.
Only 112 CEOs were not too confident to conclude that the confidence motion would be taken to a logical conclusion in view of conflicting reports emanating from various political parties, Assocham said. With the signing of the nuclear agreement, investments to the tune of $40 billion can be generated in field of nuclear energy in the country as leading industrialists have started negotiations with their prospective counterparts to produce nuclear power, the survey said.
Over one-fifth of the corporate sector employees surveyed by an industry chamber preferred to be in their workplaces even when they fell sick on fears of losing wages, incentive and goodwill.
The Bangladeshi prime minister said that India's sudden decision to stop onion exports has led to a bit of difficulty for her countrymen.
Department of Telecom had sought the legal opinion of the matter from the government's counsel.
Enthused by government's commitment to act proactively and ensure more liquidity to promote economic growth, ICICI Bank managing director K V Kamath on Monday promised to review interest rate in the next few days.
"Within a week, DoT will invite bids for selecting an agency for implementing MNP. We will select the agency within next three months," Telecom Secretary Siddharth Behura said on Thursday, on the sidelines of a function by Assocham. Earlier, the government had said that MNP can be started by the end of this year.
'I often see people try to put down China.'
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
The industry on Monday said it was not surprised by a 'euphoric' rise in the stock prices as the market went into a buying frenzy on the back of emergence of a stronger UPA, set to start its new term on a confident note.
The allegations by an unnamed person, who claimed to be an ex-colleague of Johri at the Discovery Channel, were posted on Twitter by an author, Harnidh Kaur, who later stated that she did not want the charges published nor her name used in the context.
Businesses coming to terms with Ind-AS (Indian Accounting Standards) implementation, GST can do without further uncertainty and costs, say N Sundaresha Subramanian & Sudipto Dey.
The Securities and Exchange Board of India is likely to set up an exchange-traded corporate bond market in a couple of months. It will help industry to raise funds at competitive rates in a transparent manner.
Needless to say, coaching institutes are unhappy with suggestion.
Aggressive pricing and poor advice by investment bankers are the causes behind the IPO disaster of last month.
"Owing to the development-oriented government policies, favourable business conditions, rising income levels of the middle class, Haryana and Punjab are the two states which enjoy maximum investor confidence in North India," Assocham Secretary General D S Rawat said. Haryana received projects worth Rs 50,917 crore in the first six months of 2008 and Punjab attracted Rs 19,418 crore investment.
According to an Assocham survey, India Inc is not expecting much for itself in the upcoming Budget. The Budget is most likely to benefit the common man.
Among 30 lead sectors that provided maximum jobs to young aspirants between Jan-March 2008, financial services outpaced the IT sector in Tier II and Tier III cities, an Assocham study said. For Jan- March quarter, the financial services was the second highest job offering sector, providing maximum employment opportunities of 26.35 per cent during the said period. The study covered 60 cities comprising Tier I, Tier II and Tier III cities.
Labour Minister Oscar Fernandes while addressing an Assocham event today said by pushing the digitisation of communication technology to make mobile phones affordable to the farmers of the country, the government would work along with private companies.
The government will soon announce a slew of tax incentives for infrastructure and technological upgrade in the TV and entertainment sector.
The government-appointed Satyam board had recently said that it secured Rs 600-crore (Rs 6-billion) bank loans, which would help it fulfil its immediate fund requirements. The lender's board, which met on January 23 to take a call on the IHFL sale, had deferred the decision, citing the need for more information about prospective buyers.
Speaking at Assocham's international retail summit, Rakesh Kacker, additional secretary in the Department of Consumer Affairs, said the government would take a decision at an "appropriate time". He did not specify the time-frame. The move has been in abeyance due to protests from across the political spectrum.
Sajjan Jindal, vice-chairman and managing director of JSW Steel and one of West Bengal's most valued investors, said that he would have compensated unwilling farmers with double the land 800 acres next door in return for land for the Tata Motors factory at Singur.
The National Democratic Alliance won 64 seats.
India Inc is likely to face power shortage this summer. The production has already falling down by about 25 per cent in February-March 2008, and will go down 35 per cent between April-July this year. Power shortage will affect Delhi, Uttar Pradesh, Haryana, Madhya Pradesh, Rajasthan, Maharasthra, Andhra Pradesh, Karnataka, Tamil Nadu and Gujarat. Lack of fresh investment and modernisation & huge transmission losses are responsible for the grave power situation in the country.
The Centre will come out with a policy by next year that will prescribe guidelines to state governments, private investors and Airports Authority of India for building airports. This was announced by the Civil Aviation Minister Praful Patel at an Assocham function to discuss the need for building aerotropolis (cities around the airport).
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