Total foreign direct investment into India rose 2 per cent to the "highest ever" $83.57 billion in 2021-22 on account of various measures like policy reforms and ease of doing business taken by the government, the commerce and industry ministry said on Friday. Total FDI comprises equity inflows, reinvested earnings and other capital. In 2020-21, the inflow stood at $81.97 billion. It was $74.39 billion in 2019-20 and $62 billion in 2018-19. "India has recorded the highest ever annual FDI inflow of $83.57 billion in 2021-22," the ministry noted in a statement.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
While the government has not barred procurement of equipment from Chinese companies, the process to amend the general financial rules (GFR) 2017 has started. This will impose restrictions on bidders in public procurement from countries that share a land border with India, reports Megha Manchanda.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
The regulator added that a split auction of 2100 MHz, used for 3G services, will 'artificially increase the market price of 2100 Mz in February 2015 (auction) because of the severe supply constraint'.
The policy was part of the Aatmanirbhar Bharat package announced by Sitharaman in May 2020 as a coherent policy where all sectors would be opened for private sector participation.
It is learnt that the defence ministry is refusing to let go of its 100 MHz spectrum, which was allotted earlier. In that case, the department of telecommunications (DoT) will be left with only 175 MW of 5G spectrum of the total 300 MHz.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
The Department of Telecom has asked the Group of Ministers on telecom spectrum to direct the Ministry of Defence to immediately release 20 Mhz spectrum in the 1,800 Mhz band for mobile phone operators.
The project will be rolled out by government-owned company ITI within three years, they said, adding that the contract for its implementation was signed with the telecom entity on Thursday.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
State-run telecom major Bharat Sanchar Nigam Ltd has written to the defence ministry to amend the conditions for floating tenders, including having own manufacturing facility in India, for setting up alternative communications network for defence forces."We have written to the defence ministry for change in tender conditions as some companies have said that the current conditions are very strict," said a senior BSNL official.
The defence ministry has decided to release only that 3G spectrum that is to be auctioned and that too in phases. In fact, the armed forces have not released spectrum already in use as envisaged in their agreement with department of telecommunication.
FinMin had, recently, notified changes in FDI rules that made prior approval of the government mandatory for foreign investments from countries that share a land border with India. Hong Kong was ranked 14th on the list of countries with FDI flows to India, contributing $4.2 billion between April 2000 and December 2019, the data from DPIIT shows. India received FDI worth $2.34 billion from China in the same period.
The government announced a Rs 1000-crore (Rs 10-billion) project to convert wireless operations of defence services on Optical Fibre Cable, a move that is estimated to release 45 MHz of spectrum.
The DoT issued the information memorandum last week, saying auction would start on January 14 and for this to happen, the blocks of spectrum to be auctioned must be identified latest by the first week of December.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Apart from other things, this would have put a spanner in the government's Digital India campaign.
Before leaving on a 10-day foreign visit starting Monday, Sharma said he would address concerns of foreign retail sector investors and ensure help in setting up stores.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
The government has projected to garner up to Rs 35,000 crore (Rs 350 billion) from sale of radiowaves, mainly 3G spectrum, to telecom operators in the current financial year.
Chinese equipment contracts had been given by many public sector undertakings and government companies for their networks, even in sensitive places such as the north east.
MoD dismissed the report saying it draws 'conjectural connection between tax exemption to a private company and procurement of Rafale jets'.
Finance minister Pranab Mukherjee met telecom minister A Raja and defence minister A K Antony on Monday in an effort to resolve the issue, highly placed sources said, adding that there was no consensus on the spectrum slots to be auctioned.
Telecom companies as well as the regulator have been of the view that the auction should take place only when adequate spectrum is made available, and the bidding should be held simultaneously for both the services -- 2G and 3G.
A total of 16 secretaries have been appointed to various central government departments.
Dismantling a legacy of United Progressive Alliance rule, Prime Minister Narendra Modi has abolished all the 30 GoMs and EGoMs and told ministries and departments to take decisions on pending matters.
DoT committee rejects most Trai suggestions for freeing airwaves for sale.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
The decision had been communicated to the department of telecommunications, a senior official of the department told Business Standard.
Government websites -- including those of the Prime Minister's Office, home and petroleum ministries, and the department of telecommunications -- were out of service for many hours on Monday. An official attributed the cause to firewall problems.
Income will be higher as spectrum in 2,100-MHz band will also be auctioned
Rahul Khullar's guiding credo was that a civil servant must never lose sight of his client: The little guy. The evil men are those who are decision-makers but abdicate their responsibility of taking decisions, leading people to lose confidence in public institutions.
Dravida Munnetra Kazhagam MP Kanimozhi on Thursday sought the dismissal of a Central Bureau of Investigation plea seeking special court's permission to summon some additional witnesses, including Enforcement Directorate Deputy Director Rajeshwar Singh, in the 2G spectrum allocation case.
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