The government is planning to introduce legislative changes to the Foreign Exchange Management Act (Fema) regulations, with a focus on easing the pathway for inflows from a foreign portfolio investor to transition seamlessly into foreign direct investments (FDI) once the FPI surpasses the 10 per cent ownership threshold in a company. This move stems from multiple requests by foreign investors seeking to streamline the reporting requirements that arise when their stakes in Indian firms cross the 10 per cent mark.
Former Indian Prime Minister Manmohan Singh passed away at the age of 92 on Thursday. He will be given a state funeral with full state honors at Nigambodh Ghat on Saturday. Singh served as Prime Minister from 2004 to 2014 and was known for his role in India's economic reforms. Leaders from across the political spectrum paid their respects to the departed leader, highlighting his contributions to the nation.
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
The guidelines for strategic disinvestment were issued on Monday itself when Finance Minister Arun Jaitley presented the Union Budget for 2016-17.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
The Indian Diaspora has been able to carve a niche in their adopted countries as a result of their talent, perseverance and hardworking nature, asserts Rup Narayan Das.
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
President Trump made these remarks on Monday while talking to reporters aboard Air Force One on his way back to Joint Base Andrews from Florida.
India and China on Monday decided to resume the Kailash Mansarovar Yatra as the two sides agreed to take certain people-centric steps to 'stabilise and rebuild' ties.
The finance ministry on Friday withdrew expenditure curbs on various departments and ministries imposed in June in the wake of the COVID-19 second wave, reflecting improvement in public finances and the urgency to step up growth.
Projects worth Rs 500 crore and above and up to Rs 1,000 crore can be cleared by the Finance Minister.
'Modi's intention was to create goodwill that will allow India to be seen by Trump as more than just a bad tariff problem.' 'He succeeded brilliantly on that count but none of these wins are unfortunately permanent.' 'Modi will have to do this again and again if Trump's grievances are to be durably assuaged.'
Long-term tax-saving FDs can also be considered after the PPF limit has been exhausted.
The fund will promote domestic shipbuilding of all types and sizes to reduce India's dependence on foreign ships.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
President-elect Donald Trump announced a slate of key Cabinet nominations, including tapping former Democratic presidential candidate Robert F. Kennedy Jr. as his Secretary of Health and Human Services and former Congressman Doug Collins of Georgia as Secretary for Veterans Affairs. Trump also named Jay Clayton as US Attorney for the Southern District of New York, Todd Blanche as Deputy Attorney General, and Dean John Sauer as Solicitor General of the United States.
Delivering a thinly veiled message to Pakistan from its soil, External Affairs Minister S Jaishankar on Wednesday said activities across borders characterised by the 'three evils' of terrorism, extremism and separatism are unlikely to encourage trade, energy flows and connectivity.
United States President-elect Donald Trump's plan to overhaul the government with a new department headed by tech billionaire Elon Musk and Indian-origin entrepreneur Vivek Ramaswamy will be a biggest threat for China as it has to compete with far more efficient US political system, a policy advisor to the Chinese government said.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
First things first: For those wondering if they need to reapply, the answer is no.
'The border deal offers a hedge for India against Trump's unpredictability when it comes to his approach to competition with China.'
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
...benefiting 350,000 persons. Also, Trai detected and blocked seven million mobile phone connections involved in cyber fraud and suspicious activities.
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Users should be aware of "fake emails" sent in the garb of a government e-notice, said the Indian Cyber Crime Coordination Centre (I4C) in a public advertisement.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
The actor-turned-politician has been allotted Panchayat Raj and Rural Development, Environment, Forests, and Science and Technology portfolios.
Waltz after being elected as the Co-Chair of India Caucus in January last year had said that India is the world's largest democracy and an important strategic partner for the United States.
Senior Indian Police Service officer Manoj Kumar Verma was appointed the new Kolkata Police commissioner, replacing Vineet Goyal, on Tuesday, a day after Chief Minister Mamata Banerjee held a meeting with agitating junior doctors and agreed to their demands in a bid to resolve the more than a month-long impasse over the RG Kar hospital incident.
Kumar, a 1992-batch Indian Administrative Service officer of Tamil Nadu cadre, is currently an additional secretary in the ministry of electronics and Information Technology.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
To check digital frauds, the government has disconnected 70 lakh mobile numbers so far involved in cybercrime or financial frauds, Financial Services Secretary Vivek Joshi said on Tuesday. Emerging from a meeting to discuss issues related to financial cyber security and increasing digital payment fraud, Joshi, who chaired the meeting, said banks have been asked to strengthen the system and processes in this regard. More such meetings would take place, he said, adding the next meeting is scheduled in January.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
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