Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
Prime Minister Narendra Modi will join several global leaders to pay tributes to Japan's slain former prime minister Shinzo Abe at his state funeral in Tokyo on Tuesday.
Flipkart on Monday said it has entered into a commercial partnership with the Adani group to strengthen logistics and data centre capabilities of the Walmart-owned company and create about 2,500 direct jobs.
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
The G20's Bali Declaration Wednesday acknowledged differences among members on the Russia-Ukraine war but said it was essential to adhere to international law, including protection of civilians caught in conflicts.
The Centre will release Rs 95,082 crore as tax devolution to the states this month after including one advance instalment to help them push their capital expenditure, Finance Minister Nirmala Sitharaman said on Monday. After a meeting with all chief ministers and state finance ministers, Sitharaman said states had said that it would be helpful for them if the tax devolution is front loaded.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
India as the G20 host has a 'unique role' to play in bringing about an end to the war in Ukraine due to its 'longstanding historical' ties to Russia, the United States has said, expressing hope to work closely with New Delhi to find a way to stop the conflict.
Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.
The Chernobyl nuclear power plant's personnel are continuing to service the facilities and monitor the radiation situation at the station as usual, a top Russian official claimed on Friday, a day after Russian forces took over the decommissioned facility after a fierce fight with Ukrainian soldiers guarding it.
Prime Minister Narendra Modi on Thursday said India has become the fifth largest economy in the world and this is not an ordinary achievement. "Every Indian is feeling proud of it. We need to maintain this enthusiasm," Modi said. He was virtually addressing beneficiaries of various government schemes and those present at a mega medical camp organised in Olpad area of Surat city in Gujarat, where the Assembly polls are due later this year.
The ministers who failed to find places in the second term of the BJP government in the state included Dinesh Sharma, Satish Mahana, Ashutosh Tandon, Shrikant Sharma, Siddharth Nath Singh, and others.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
India's flagship motor show Auto Expo 2023 kicked off on Wednesday with the global unveiling of Suzuki Motor Corporation's concept electric SUV 'eVX' which is slated to hit the market by 2025. The company's Indian arm Maruti Suzuki India is among the major manufacturers participating in the show that has returned after three years. The Concept eVX is a mid-size electric SUV concept designed and developed by Suzuki Motor Corporation (SMC), Japan. It will be powered by a 60 kWh battery pack offering up to 550 km of driving range on single charge.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
The government, under the Finance Act, 2020, had allowed tax exemption for SWFs and pension funds in the case of incomes from investment in 34 key infrastructure sectors, including hotels, cold chains, educational institutions, hospitals, and gas pipelines.
His remarks assume significance at a time when a large number of Indian students, many of them studying medicine, have been stuck in Ukraine following the Russian attack on that country.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Representing India at the 'High-Level Segment for Heads of States and Government' at the UN COP26 underway at Glasgow, UK, Prime Minister Modi said that India is working very hard on tackling climate change related issues.
US-based Tesla is working through a lot of challenges with the government to launch its products in India, the electric car major's founder and CEO Elon Musk said on Thursday. Responding to a tweet on the company's plans to launch its products in India, Musk tweeted: "Still working through a lot of challenges with the government." Last year, Tesla had sought a reduction in import duties on electric vehicles (EVs) in India.
In a move that may boost the Indian hydrocarbon industry and bring more investments into the sector, the Union Cabinet on Wednesday decided to give marketing freedom to domestic crude oil producers, allowing them to sell petroleum to any company in the local market. The move is set to be beneficial for major crude oil producers, such as state-run Oil and Natural Gas Corporation (ONGC) and Oil India, and private sector majors like Vedanta's Cairn Oil and Gas and Reliance Industries. As of May 31, India was dependent on imports for 86 per cent of its crude oil consumption; domestic production sufficed the remaining 14 per cent demand.
Moody's Investors Service on Thursday said India's rising vaccination rate, low interest rates and higher public spending drive the positive outlook for corporate sector.
During the virtual meet, Biden and Modi will discuss cooperation on a range of issues, including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, White House Press Secretary Jen Psaki said.
Modi's unexpected announcement of achieving net zero by 2070 may have neatly deflected the pressures on India to sign up to an ambitious pledge but it does nothing to dispel the ecological emergency that threatens all life on the planet, , points out former forerign secretary Shyam Saran, the prime minister's special envoy and chief negotiator on climate change 2007-2010.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
At least 34 people were killed during Cyclone Fani, which barrelled through coastal Odisha on Friday last, causing widespread destruction and leaving hundreds grappling with water shortage and power cut.
Modi's critics will say that he has put up cement and steel structures, but weakened the institutions of governance whereas Nehru strengthened them, observes T N Ninan.
Ola Electric became the latest among electric scooter (e-scooter) makers to have started the exercise of recalling a specific batch of its model after a rap on the knuckles by the government. Union Minister of Road Transport & Highways Nitin Gadkari on Thursday advised electric vehicle (EV) companies to act responsibly by identifying and recalling defective batches without waiting for orders or guidelines from the ministry. The Bengaluru-based start-up is conducting pre-emptive diagnostics and health check on 1,441 scooters, it said in a statement on Sunday.
'It is building the country's infrastructure, and delivering it very efficiently.'
Raising slogans, members of the BRS, Left parties and some members of the Congress walked out of Lok Sabha in protest as the prime minister was speaking.
'India seems to be on a relatively better wicket compared to other emerging markets.'
Investments by private equity and venture capital funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, as per a report. In November 2020, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data shared by industry lobby IVCA and the consultancy EY said. The overall investments in the first 11 months of the year have touched $72.6 billion, which is 53 per cent higher than the all-time high for a year achieved in 2020, it said.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
French IT firm Atos is planning to hire 15,000 people in the next 12-18 months in India, including climate experts, as it moves towards decarbonisation by 2028, chief operating officer (COO) Nourdine Bihmane said. "India is a strategic market for Atos. "We have been present here for the last 30 years, and we have grown organically since. "People and innovation are our two key drivers to build momentum. "India represents one-third of our total workforce," Bihmane said. Atos has around 40,000 employees in India.
India needs a second green revolution along with the next generation of reforms with a view to make agriculture more climate-resistant and environmentally sustainable, said an RBI article on farm sector challenges. Observing that Indian agriculture has exhibited remarkable resilience during the COVID-19 period, the article said "new emerging challenges warrant a second green revolution along with next-generation reforms". Despite the success in terms of production that has ensured food security in the country, food inflation and its volatility remain a challenge, which requires supply-side interventions such as higher public investment, storage infrastructure and promotion of food processing, said the article titled 'Indian Agriculture: Achievements and Challenges'.
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
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