In the mid-quarter monetary policy review last month, RBI Governor Raghuram Rajan had left the key policy rate unchanged, after raising it 50 bps in two instalments since he took over on September 4, saying he was waiting for more data clarity.
Exporters on Thursday demanded fiscal incentives, tweaking in customs duties on certain products and credit at affordable rates in the forthcoming Budget to boost exports and create jobs. In a pre-budget virtual meeting with Finance Minister Nirmala Sitharaman, the Federation of Indian Export Organisations (FIEO) said the depreciation of the rupee against the US dollar is affecting exports' competitiveness and the sector requires more support. "Creation of employment is the biggest challenge faced by the country...We would urge the government to provide fiscal support to units which provide additional employment in the export sector," the exporter's body said.
The status quo decision came as a breather as only last week the RBI had pulled up banks for not helping it in monetary policy transmission.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
The meeting will focus on how to make the crisis an opportunity for India.
West Bengal Chief Minister, Mamata Banerjee, on Friday invited industrialists to set up base in the state, but cautioned against acquiring land forcefully.
The Indian government has approved the visit of a Pakistani business delegation to India, which is meant to revive economic ties between the two countries and provide an impetus to diplomacy.
For 2016, India's rank in ease of doing business has improved.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
With India, the last round of talks took place in February 2011.
The 4 week online learning programme is available in English and Hindi, and will soon be offered in some regional languages.
Due to lower output from mines, utilities and factories, the July factory output data came down to 0.5 per cent year-on-year, the government data showed on Friday, down from June's revised 3.9 per cent rise.
This FDI includes equity, re-invested earnings and other capital.
Although the RBI's open market operations have ensured sufficient system-level liquidity, some sectors are finding liquidity to be a challenge owing to their credit profile.
The moustache protest is the latest blot on the face of a nation that has failed to ensure even the safety of the Dalit community, says Veenu Sandhu.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
Bengal Finance Minister Amit Mitra expressed confidence in GST.
Bharatiya Janata Party's prime ministerial candidate, Narendra Modi, last month urged small traders to compete with foreign retail chains through e-commerce.
Admiral describes it as 'a path-breaking change'; defence ministry official disagrees.
A meeting of the Board of Trade, an advisory body to the Commerce Ministry, is likely to be held on October 11, a ministry official said.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
Indian carriers are expected to double their fleet size by 2020 to 1,000 aircraft by 2020, promising a huge opportunity for the maintenance, repair and overhaul business.
As part of efforts to boost Indo-US trade ties, a high-level American delegation led by president and CEO of US Chamber of Commerce Thomas J Donahue will visit India on Tuesday for a meeting with the Confederation of Indian Industry.\n\n\n\n
Costlier onion and other vegetables pushed up inflation for the third month in a row to 6.1 per cent in August, making it difficult for the RBI to cut rate in the monetary policy review due later this week.
'My father's life sends a message that there are positive things happening between India and China, no matter what happens at the border.'
Take part in the growth story, Amit A Shah tells Corporate India.
In a significant move, the 13th Pravasi Bharatiya Divas, to be held in Gujarat from January 7 to 9, might see the overseas citizen of India and person of Indian origin cards getting clubbed, External Affairs and Overseas Indian Affairs Minister Sushma Swaraj said on Monday.
Singh said the nation and the society as a whole are gradually getting conditioned to look at things in the eye instead of getting confused by duplicities.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
Some antique jewellery is displayed in a couple of museums in the world.
At present, the NMP states a series of fiscal incentives, including tax sops, will be offered but only to small and medium enterprises.
Veteran industrialist Ratan Tata was conferred the title of "Global Visionary of Sustainable Business and Peace" by the Federation of Indo-Israel Chambers of Commerce (FIICC) for epitomising "unity, peace and sustainability". "Ratan Tata's support toward Israel has been unstinted. His commitment to put India on the global map with dignity and respect has been noted by each and everyone. "A man respected by the business communities of all the three countries - India, Israel and UAE - he epitomises unity, peace and sustainability," the president of the bilateral chamber, Gul Kripalani, said.
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According to the survey which drew responses from existing banks, NBFCs, corporate and industrial houses and other stakeholders, the setting up of new banks is considered significant in view of the fact that only 35 per cent of the country's population have formal bank accounts as compared to an average of 41 per cent in other developing economies.
UK environment minister Lord de Mauley hosted a round-table meeting here with representatives of mango and vegetable importers and exporters from the UK and India, Deputy Indian High Commissioner to the UK Virendra Paul, and senior regulators from Defra and the Food and Environment Research Agency.
The Bharatiya Janata Party on Friday threw its weight behind the Women's Reservation Bill, saying the quota for women in Parliament and state assemblies is an idea whose time has come.
Industry chamber Federation of Indian Chambers of Commerce and Industry said the Reserve Bank of India should intervene and cut interest rates.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
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