Disinvestment Secretary Mohammad Haleem Khan told Business Standard that till now, public sector companies were only allowed to invest in mutual funds, apart from putting money in bank fixed deposits, but the Cabinet had now approved the proposal to allow these companies to buy equities of other CPSEs.
'The CM wants to develop a Film City that would provide the entire value chain of film-making services and infrastructure in one place.'
Air India's total debt stands at about Rs 43,000 crore. It also has dues worth hundreds of crores to oil companies, airports and vendors
Notification after Parliament session; execution ball to be in states' court.
The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL). The approval by the Cabinet will enable the sale of the government's 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
The Indian Medical Association states that cases are likely to rise further before coming down in Kerala as about 50 per cent of its population is still susceptible to the virus.
The Cabinet cleared amendments to the Forward Contracts (Regulation) Act, giving the FMC autonomy and including various provisions aimed at developing the market. Business Standard spoke to Khatua on how the amendments will impact the markets once it comes into force.
Early signs show firms rather lukewarm on entry; global economic climate, riders to FDI opening may be dampener.
Koo has so far raised $4.1 mn in Series A funding from existing investors Accel, Kalaari Capital, Blume Ventures and 3one4 Capital.
Secretaries' panel fails to arrive at a decision. Sources told Business Standard the commerce ministry felt that the delay would add to the cost for the government as more and more factories could shut shop.
Quick estimates available with the commerce ministry show that exports dipped 12 per cent in November, almost the same as October.
The central government is looking to strengthen the boards of public sector banks (PSBs) by specifying terms of office and conditions of service for whole-time directors, and also seeking disclosures from all directors about interests in other companies. Through the Banking Laws Amendment Bill, the government is likely to introduce conditions for disqualification of whole-time and independent directors which are not specified in the current legislation. The Centre is seeking to introduce fresh changes that are aimed at strengthening the boards of PSBs, and holding their directors accountable, an official said.
'A pro-Modi wave and anti-incumbency will be incomplete without strong candidates.'
Executives would analyse information and pass it to seniors.
Exports are slowing and economic growth in major markets for Indian goods has taken a hit.
The Cabinet Committee on Economic Affairs will discuss the proposal to lift the ban on state-owned companies from investing in mutual funds in its weekly meeting on Thursday.
His career as a bureaucrat has been somewhat colourless, which suggests his current elevation is simply a matter of being at the right place at the right time.
The Union Cabinet has approved the policy framework for establishing a Non-resident Indian/Person of Indian Origin (NRI/PIO) university in India.
According to unconfirmed reports, North India has seen a Rs 3 hike. A Delhi-based dealer said the companies had told him that the price would go up by Rs 5 a bag in a day or two. "The companies raised wholesale prices and we passed on the burden to consumers," said a Mumbai-based dealer who did not want to be named. The present retail price in Mumbai is Rs 274 per bag. Market sources said Chennai had seen a hike of Rs 3.
After the Trinamool's overwhelming majority in the West Bengal assembly elections last year, the SSC scam has given fresh ammunition to the Bharatiya Janata Party and the Communist Party of India-Marxist. Ishita Ayan Dutt reports.
A committee headed by Cabinet Secretary BK Chaturvedi has turned down the request for constituting the Sixth Pay Commission to review the salaries and perks of all central government employees.
Many industry executives have said the draft e-commerce policy is being perceived as nationalistic but not overly protectionist and it is providing preference to Indian players against foreign companies. This might have an impact on investment by large players such as Walmart and Amazon in the country, said the executives. They said e-commerce was a very small portion of the retail industry and at a nascent stage and did not require heavy hammer regulations. Though the policy talks about being equally applicable to foreign and domestic players, it mentions that foreign direct investment (FDI) takes precedence over the e-commerce policy in any area of overlap.
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