The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
'If Modi wants to help the poor and get the credit for it as well, he must do what China does. He must openly adopt pro-capital policies.'
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
The package includes raising of Rs 15,000 crore sovereign bonds to meet the immediate capital requirement of both the companies, 4G spectrum allocation worth Rs 20,140 crore, Rs 29,937 crore for VRS covering 50 per cent of their employees, and Rs 3,674 crore for goods and services tax that will be levied on allocation of radiowaves.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Punjab footballer Tony Sandhu and Kabaddi player Mangi Bagga from Punjab's Shahkot started the initiative to help protesters with accommodation at the Singhu border. The makeshift arrangement is currently being used by approximately 2,000 people.
Many investors, who have made money in the rising market of the recent past, are pulling out of equity funds, believing that they can earn more by investing directly.
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
Investors are sceptical that the economy could have picked up so much steam.
Mumbai saw an average 46 per cent decline in congestion during the morning rush hour on Tuesday. New Delhi's data also showed an average 34 per cent decline in congestion during morning.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
Government to infuse funds in cash-strapped banks.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
'The manufacturing sector and the capital goods industry need all the support that the government can provide, because they are working in a global market where trade restrictions are coming down every day,' says Amar Kaul.
Many emerging economies have witnessed a flight of foreign portfolio capital and their currencies have slumped against the dollar.
The Rail Land Development Authority has invited online bids from private players to redevelop the station into an integrated commercial, retail, and hospitality hub.
'Without appropriate supervisory constraints in place, banks are in a position to delay the recognition of losses and engage in ever-greening or zombie lending, which is essentially the rolling over of debts of unviable borrowers that would have otherwise defaulted,' points out RBI Deputy Governor Viral Acharya.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
'The goal is achievable. What is stopping us from getting there?' asks Aakar Patel.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
The National Stock Exchange (NSE) on Monday said failure of telecom links as well as that of storage area network system led to the outage last month and that steps are being taken to address the issues. Between primary and NDR (Near Disaster Recovery) sites, NSE said it has multiple telecom links with two service providers to ensure redundancy. In a detailed statement on the outage that happened on February 24, the bourse said various measures have been taken and others are under implementation to address the issues.
energy is India's binding supply-side constraint for inclusive growth.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
The government has the upper hand in the ongoing negotiations, and it is unclear if a real debate will happen, observes Tulika Narayan.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
India needs to move towards full capital account convertibility to become a leading global economy.
Purnendu Maji and Srinivas Bhogle list IPL 2020's Paisa Vasool Players.
'There are sound commercial reasons to hope for the development of 'anti-fake news networks',' says Devangshu Datta.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
A must-read excerpt from former RBI governor and former Rajya Sabha member Bimal Jalan's India: Priorities For The Future.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
Despite several challenges plaguing the banking sector, HDFC Bank has emerged as the best bank in India.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Capital gains tax is no longer exempt even for investors coming via Mauritius, hence FPIs are now classifying it as interest income to save on taxes.
