The Defence Ministry on Friday inked a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force.
DIPP had proposed 100% FDI in Railways, which it had to now scale down to 74% in certain areas
The Reserve Bank on Monday pitched for creation of a conducive environment for investment and faster clearances of projects to boost economic growth which slowed to a decade low of 5 per cent in the previous fiscal.
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.
Around Rs 40,000 crore (Rs 400 billion) investment in the power sector is in limbo for want of government decision on allocation of natural gas to the proposed electricity stations.
Chidambaram first met bankers and industrialists in Mumbai to seek ways to revive slowing economic growth.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
The proposed auction has business-friendly terms and conditions, including reduced upfront amount, adjustment of upfront amount against royalty and liberal efficiency parameters to encourage flexibility to operationalise the coal mines. Besides, 100 per cent FDI through automatic route has been allowed.
With the government reducing the net worth for new entities in fuel-marketing space to Rs 250 crore, the market is open for new players like Total, Adani, and Saudi Aramco -- and even supermarkets - to open fuel outlets.
The approvals would be handled independently by administrative ministries of different sectors.
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
Rishi Sunak on Wednesday clinched his place for the final leg of the race to succeed Boris Johnson and will go head-to-head with Foreign Secretary Liz Truss as one of two finalists to take charge as Conservative Party leader and British prime minister.
Chidambaram and his son Karti were named in the chargesheet filed by the Central Bureau of Investigation in the case on July 19.
It is baffling how the PM chose the LCH as an indigenous product to celebrate on Rashtriya Raksha Samarpan Parv, even while his Cabinet holds up manufacturing clearance for 15 LCHs on the grounds that they are not Indian enough.
The government has given up plans to reconvene a parliament session to secure approval for a common goods and services tax.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
India will appeal against the verdict of the Hague tribunal in Antrix-Devas deal case, in which the international court had declared the annulling of the contract as "unfair" and "inequitable" and asked it to pay huge amount as compensation.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union minister Ashwini Vaishnaw has said. The government on Wednesday withdrew the Personal Data Protection Bill from the Lok Sabha. The Joint Committee on Personal Data Protection Bill, 2019, headed by BJP member P P Chaudhary, had tabled its report in Lok Sabha on December 16, 2021.
After withdrawing the personal data protection bill, the government is hopeful of getting a new legislation passed by the next Budget session of Parliament, Union Minister Ashwini Vaishnaw has said.
The Supreme Court on Tuesday permitted the Mumbai Metro Rail Corporation Ltd to pursue its plea with the relevant authority for felling 84 trees at Mumbai's Aarey Colony for constructing train ramps at its car shed project, saying it cannot be "oblivious of serious dislocation" which may be caused in projects involving "large public funds".
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
The report said in the recent months policy makers as well as the private sector have made some efforts to improve productivity.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
India is likely to clock a GDP growth of 5.5 per cent during the current financial year provided there is normal monsoon and stable government at the centre, says a D&B report.
Chidambaram's son Karti has been questioned twice by the ED in this case.
The number of infrastructure projects cleared by a monitoring group set up in the Cabinet Secretariat had increased consistently in the past year.
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.
The brokerage said it has high hopes for recovery and reforms following the general elections.
Earlier, an inter-ministerial group used to take these decisions.
Committing to more steps to boost economy, the Finance Ministry said initiatives taken by the government in the past one year will boost investment and revive the sagging growth.
The Oil Ministry has proposed raising natural gas prices by at least 60 per cent, a move that will result in rise in urea as well as power costs.
According to the Dun & Bradstreet CFO optimism index, nearly half of the surveyed CFOs expressed optimism regarding the macro economic scenario for the Indian corporate during the April-June quarter of this year.
It is understood that the agency wanted to put a fresh set of questions to him regarding the deal and hence had asked him to appear.
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
Special Judge O P Saini issued notice to the agency and sought its response by October 8.
Also the companies should be self-sufficient in product designing and have maintenance and life cycle support facilities.
Operationalising the ban is being fleshed out: it will entail which cryptocurrencies will be banned and how.
The delivery of the Tejas Light Combat Aircraft (LCA) to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 and around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets, Chairman and Managing Director of Hindustan Aeronautics Limited R Madhavan said on Sunday.
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