The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
Jet-Etihad deal documents among those leaked: CBI
For every Re in govt coffer, one-fourth will come from market borrowing.
Markets could slide again owing to conditions in Europe and the US.
Traditional plans are the biggest area of concern for consumers.
Listing out priorities for the Finance Ministry under Arun Jaitley and the Narendra Modi government as a whole, it said the growth rate can pick up to 6 per cent with the extent and pace of reform measures.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
The mergers will not involve any cash but only share swaps
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
'Efforts to roll out GST from next fiscal'
Expecting victory in Haryana and Maharashtra, the party will want to accommodate people from these two states.
India had a transition from 'socialism with a limited entry to marketism without exit'.
The opposition has attacked the Modi government over the National Democratic Alliance's last full-fledged budget before the 2019 Lok Sabha elections.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
Forget about interim Budgets, one cannot easily recall even a full Budget of any government in recent times having rolled out benefits of this order to such a large number of people, says A K Bhattacharya.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
The biggest disappointment was the compromise on the promised corporate tax reduction path.
Europe is the second largest market for Indian IT-BPM industry.
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
The session, which will continue till August 11, is likely to discuss issues like lynching incidents and vigilantism, the Kashmir situation and the border stand-off with China.
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Sebi keen to attract larger number of retail investors
Soon after RBI announcing a much- awaited rate cut, Chief Economic Advisor Arvind Subramanian on Wednesday said that the global rating agencies should look at upgrading their stance on India's credit outlook. "Now we have a 50 basis points rate cut (in two tranches within two months) and I think that is good for the economy and all rate cuts benefits... If the outlook is looking good, the rating agencies should draw their lessons from that om improving the outlook," Subramanian told reporters. After presentation of Union Budget 2015-16 last week, global and domestic agencies had ruled out any immediate upgrade in India's sovereign ratings and had red-flagged the country's delayed fiscal consolidation roadmap and had also warned against any slippages from the "ambitious" disinvestment plan proposed in Budget. Subramanian said that the rate cut is consistent with the government's views in the last week's Economic Survey and thereafter in the Union Budget for the outlook on inflation and for the outlook on overall economy. "It (rate cut) shows that RBI and government are on the same page in terms of how we view the economy. It also means that Budget can be seen as conducive to non-inflationary growth," he added. On monetary policy framework agreement, Subramanian said that both Finance Ministry and RBI have shared concern about inflation. Recently, the Finance Ministry and the Reserve Bank agreed to 'inflation rate targeting' under which the apex bank will aim to lower retail inflation to below 6 per cent by January 2016.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
The government should frame new policies to assure growth.
Lower interest rates needed to boost manufacturing, officials say.
'A major thrust is required by the government to stimulate rural demand'.
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The Finance Ministry has filed the offer document with market regulator Securities and Exchange Board of India for the Central Public Sector Enterprises ETF, which could fetch the exchequer about Rs 3,000 crore (Rs 30 billion).
Modi govt must implement few policy measures which it announced in Budget 2015.
This Budget signals a shift from a hand-out to a hand-up economy.
As per the current market price, the government is expected to fetch Rs 5,300 crore (Rs 53 billion) by selling 10 per cent equity or 24.27 crore (242.7 million) shares at discounted price to Oil and Natural Gas Corporation and Oil India Ltd.
Overnight, the Wall Street closed on a flatter note.
According to bankers and economists, there is room for further rate cut by the RBI as retail and wholesale inflation rates have remained benign.
If this Budget was not packaged and sold as a Budget for the poor and for farmers, Narendra Modi would have lost the next election.
Assocham said even if an investment revival were to happen, it would be a time lag of at least 18 months before it reflects in the manufacturing sector.
On the revenue front, the finance ministry was expecting higher proceeds from non-tax revenue.
Chief Economic Advisor Arvind Subramanian's interview.
Breaking a long tradition, the PMO has ensured that specific divisions in each ministry are allocated to junior ministers.
