For next fiscal, the minority stake sale target has been kept at Rs 36,000 crore.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
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.
The IT modernisation project with this outlay was approved by Cabinet Committee of Economic Affairs in November 2012.
'Economy is leading the way as far as the relationship between the two countries is concerned'.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
The SERT, an autonomous body of the general education department, is considering a decision by its curriculum steering committee to include these deleted portions in the state syllabus.
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
A total of 16 secretaries have been appointed to various central government departments.
A powerful senatorial committee on Wednesday is set to consider a bipartisan resolution to recognise Arunachal Pradesh as an integral part of India, pushing back against China's military aggression to change the status quo along the Line of Actual Control.
Russia says cash shortage is affecting the functioning of its embassy in New Delhi.
He alleged that India "lost access to 26 out of 65 Patrolling Points" which was not the case before May 2020, and questioned the Modi government's "silence" on the issue.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
Only NIIF has stayed the course as a viable infrastructure financing institution.
The prime minister's office will play the principal role in decision-making.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
The Union Budget for 2017 is likely to be presented on February 1. An approval for merging the Railway Budget with the General Budget was accorded by Finance Minister Arun Jaitley on Monday.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
The finance ministry on Friday informed a parliamentary committee that smuggling of fake currency has totally stopped post demonetisation and the tax department has seized Rs 515 crore in cash, including Rs 114 crore of new currency notes, up to January 10.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
UAE's promise of $50-bn investment in Indian infra won't be included.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
'In India, a deadly wave of infection with the Delta variant stole 240,000 lives between April and June and disrupted economic recovery. Similar episodes could take place in the near term,' said the report.
'Advancing friendship with Japan. Prime Ministers @narendramodi and @kishida230 held productive talks in New Delhi. Both leaders discussed ways to boost economic and cultural linkages between the two countries,' Modi's office tweeted.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
Juster, who is the Deputy Assistant to the US president for International Economic Affairs and Deputy Director of his National Economic Council, would replace Richard Verma if nominated and confirmed by the Senate.
India will kickstart on Tuesday a two-day multi-agency military exercise covering the country's 7,516 km-long coastline and exclusive economic zone with the twin aim of checking the preparedness of various agencies to deal with any eventualities and bolster overall maritime security, officials said.
Naresh Goyal-led Jet has also changed the shareholders agreement and amended the investment agreement and the articles of association, as suggested by the Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, official sources said.
'It is important to improve the quality of spending.'
Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
Chinese foreign ministry spokesman Zhao Lijian told a media briefing that "the Indian side should fully recognise the anti-China separatist nature of the 14th Dalai Lama."
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
In their new venture, Tata SIA Airlines Ltd, Tata Sons would hold 51 per cent stake and Singapore Airlines 49 per cent.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
The high-level meeting comes against the backdrop of the rupee touching a record low of 58.98 to a dollar on Tuesday.
'It is building the country's infrastructure, and delivering it very efficiently.'
The idea is to do away with the need for the approval of the Core Group of Secretaries on Divestment for privatisation of companies, especially in non-strategic sectors.
