Sources said the people would be hired at different levels, including application examiners.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The RBI has been tightening key benchmark rates since November last year as the country started recovering from the impact of the global economic slowdown.
At 3.5 per cent per annum, interest on savings accounts is the only regulated rate in the banking system currently and a highly contentious one given its impact on the common man.
Speaking at a conference on terrorism and national security organised by the Federation of Indian Chamber of Commerce and Industry , Moily said, "None of my reports were seriously looked into." Moily-headed Administrative Reforms Commission has over the last one-and-a-half year submitted reports on terrorism, conflict resolution, police reforms and ethics in government.
Trinamool Congress candidate and Federation of Indian Chambers of Commerce And Industry secretary general Amit Mitra, pitted against Communist Party of India-Marxist candidate and West Bengal Finance minister Ashim Dasgupta, is confident that his party is heading for a victory at the forthcoming Assembly elections.
The GDP growth fell to a nine-year low of 5.3 per cent in the first quarter, down from 9.2 per cent the same time last year.
The government is set to announce some significant measures to reduce the high transaction costs faced by the country's exporters in their day-to-day operations. Finance Minister Pranab Mukherjee will be unveiling the measures on February 8.
In a telephonic conversation, Mitra explains to Namrata Acharya how the state is reeling under a huge debt, a 'legacy' of the Left government.
Enthused by the success of US President Barack Obama's visit, India said on Tuesday it is time to 'seriously consider' a trade-opening agreement with America, similar to the ones entered with the ASEAN and South Korea.
United States Senator Mark Warner, the democratic co-chair of the Senate India Caucus, said Prime Minister Dr Manmohan Singh and India's restraint in the face of continuing terrorist attacks is nothing short of remarkable and keeping with the best traditions of India.
Indians want to have a little more clarity and certainty before they invest, says Naina Lal Kidwai, Executive Director, HSBC Limited and Country Head, HSBC India.
The reservation of jobs in the private sector will tantamount to putting the clock back on economic reforms and not even political parties are ready for a legislation making employment of SCs and STs binding on India Inc, industry body Ficci said.
The pre-Budget memoranda of the Indian Drug Manufacturers Association and the Federation of Indian Chambers of Commerce and Industry have said more incentives are needed to spur drug research.
Growth and economic reforms in India must take centre-stage again and acts of corruption or security concerns should not distract the attention of the government and the people, said Union Home Minister and former finance minister P Chidambaram recently.
Ex-head of BPL Mobile and currently a Rajya Sabha MP, Rajeev Chandrasekhar will be the new head of Ficci.
They were recognised for their contribution to Hindi cinema.
After visits to the US and Europe, a power ministry delegation is headed for Japan, Singapore and Malaysia for conducting roadshows to attract foreign investors in the country's power sector.
India and the United States are considering yet another initiative to boost bilateral economic relations. Both sides are now mulling a Private Sector Advisory Gr
Banks in India will need about $100 billion (Rs 5 lakh crore) of capital over the next decade as the system grows to meet credit requirements of an expanding economy, Om Prakash Bhatt, chairman of the State Bank of India said.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Reserve Bank of India (RBI) Deputy Governor Subir Gokarn on Tuesday said India cannot risk accepting high inflation as the new normal, nor can RBI afford to drop its guard.
The memorandum of understanding calls on Ex-Im Bank and Ficci to exchange information on business opportunities for the US exporters and Indian buyers, and to cooperate on workshops and other initiatives to widen understanding of their respective programmes. At a function held at the Ex-Bank headquarters in Washington, the MoU was signed by the Ex-Im Bank Chairman and President Fred P Hochberg and Ficci secretary general Amit Mitra.
The economists, polled by industry body Federation of Indian Chambers of Commerce and Industry, said the RBI may raise the cash reserve ratio, which is a portion of deposits that banks keep in cash with the central bank, by 50 basis points to 5.5 per cent, although this would have no impact on containing inflation.
Nigeria, India's largest trading partner in Africa, on Wednesday invited Indian companies to invest substantially in the oil-rich country and promised all necessary help and good business environment.
Corporate India tempered its victory celebrations for the supposedly business-friendly Narendra Modi-led National Democratic Alliance's landslide electoral victory by highlighting the need for immediate steps to create jobs through inclusive economic growth.
The 2009 Budget had raised the rate of MAT to 15 per cent. The industry wants it to be lowered to at least 10 per cent in the forthcoming Budget.
The Federation of Indian Chambers of Commerce and Industry is 'very hopeful' that the seven SAARC nations would be able to clear all roadblocks on the way to signing of Saarc Free Trade Agreement (SAFTA) at the Islamabad summit.
Pirates won't have it easy any more as the organised market gets savvy.
Yogendra Kumar Modi was on Friday elected as the next president of the Federation of Indian Chambers of Commerce and Industry. He will succeed A C Muthiah.
Business and industry leaders from India and Pakistan on Tuesday said the two countries would look up to the 21st century as one of trade - and not of wars.
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