Highlighting India Inc's drive for fresh investments, FICCI on Thursday called for the revival of development finance institutions by allowing agencies like IFC and ADB to play strategic roles in DFIs.
The AAP government withdrew the approval given by the Sheila Dikshit-led government on allowing FDI in multibrand retail in Delhi.
'Even troubles/challenges seek attention/respect.'
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 committee has recommended Rs 8,000-10,000, Rs 13,000-15,000, and Rs 15,000-18,000 including PPE costs for isolation beds, and ICUs with or without ventilator, respectively, to all hospitals. Currently, hospitals are charging Rs 24,000-25,000, Rs 34,000-43,000 & Rs 44,000-54,000 (excluding PPE cost).
Mittal said any company, which does business that can cause loss of life of a magnitude where an entire township could be wiped out, needs to be responsible enough not only on technology but also that the backup is enough.
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
The Union Cabinet has cleared a proposal to provide Rs 30,600 crore government guarantee for security receipts issued by the National Asset Reconstruction Company (NARCL) as part of resolution of bad loans, Finance Minister Nirmala Sitharaman said on Thursday. The proposed bad bank or NARCL will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts. The government guarantee would be invoked if there is loss against the threshold value.
In an address at the annual general meeting of industry chamber FICCI, Singh said the 'unprovoked aggression' on India's Himalayan frontiers is a reminder of how the world is changing and how existing agreements are being challenged.
Companies such as Uber, Accenture, BNY Mellon, The Lalit, Kronokare and Unhotel will be hiring candidates for various roles.
Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
Sebi chief Ajay Tyagi on Wednesday said many companies are lacking on the disclosure front and asked such firms not to treat it as a check box exercise. Sebi rules primarily require listed firms to have two sets of disclosures - periodic disclosures where formats have been prescribed by the regulator; and disclosures of material events where certain events have been deemed as material and must be disclosed, and the others to be disclosed if considered by the company and its board to be material.
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 economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
The armed forces will completely ban the import of clothing, required to sustain its soldiers at extreme temperatures across the country, if the Indian textile industry is able to innovate and manufacture them, said Chief of Defence Staff (CDS) General Bipin Rawat.
Federation of Indian Chambers of Commerce and Industry on Wednesday asked the US to restore the Generalised System of Preferences for Indian exports of chemicals and allied products.\n\n\n\n
The overall growth rate would see a better performance from agriculture and allied services and the sector is expected to grow by 4 per cent in 2010-11, up from a negative growth of 0.2 per cent in 2009-10. The services sector too is expected to show an improvement in growth in the current financial year to 9.3 per cent, up from 8.1 per cent in 2009-10.
Maharashtra Chief Minister Uddhav Thackeray on Saturday said he had tried to contact Prime Minister Narendra Modi on phone regarding the oxygen supply for the state but the PM was not available since he was busy campaigning for the West Bengal elections.
As per a Knight Frank FICCI Naredco report, a majority 69% of the stakeholders say that the residential sales will remain tepid or may even go down further in the coming six months.
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
The world has changed from G7 to G8 to G20, where India plays a key role.
Take part in the growth story, Amit A Shah tells Corporate India.
After corporates and youth, it was the turn of woman power that Gujarat Chief Minister Narendra Modi on Monday sought to woo in his bid to reach out to audiences nationwide in a speech that also had digs at Rahul Gandhi and the woman Governor in his state.
P V Sindhu urged everyone to make physical activity an integral part of their lives.
The launch of e-RUPI, a person- and purpose-specific digital payment solution, by the government is expected to completely negate any pilferage and will ensure full benefit to intended beneficiaries, India Inc said on Monday. Prime Minister Narendra Modi has launched e-RUPI, which is aimed at improving transparency and targeted delivery of benefits. PHD Chamber of Commerce and Industry president Sanjay Aggarwal said that the move is a significant step to enhance the digitisation process of the country.
Asset quality of banks, which saw some improvement in the second half of 2020, is likely to worsen during the first six months of 2021, according to a survey. The findings are part of the 12th round of bankers' survey carried out by FICCI-IBA between July and December 2020. The survey was conducted on 20 banks, including public sector, private sector and foreign banks, representing about 59 per cent of the banking industry, as classified by asset size.
As the country moves towards creating a spot gold exchange, markets regulator Sebi's whole time member G Mahalingam on Wednesday suggested routing all the imports of the precious metal through the exchange ecosystem in the future. Such a "funnelling" would ensure that gold monetisation takes place right at the source as the metal enters the country, he said while addressing a conference organised by industry lobby Ficci. However, he also noted that the issue has not been dealt with in the papers floated by Sebi.
Ace tennis player Sania Mirza said India still needs to do a lot more to bring women at par with men in sports, though the country has come a long way in this aspect.
The chambers said that the situation calls for urgent policy measures both by RBI and the government to salvage industry from further decline in industrial output.
The PM blamed the UPA regime for the problems in the banking sector.
India Inc has said the decision to hike in diesel price was "inevitable" and this would help in fiscal consolidation.
L K Advani, Bharatiya Janata Party stalwart and leader of the Opposition in Lok Sabha, addressed the 81st annual general meeting of the Federation of the Indian Chambers of Commerce and Industry (FICCI) on Thursday. In his speech, Advani makes a strong case for Swadeshi, creatively redefined, as a model of development to benefit Bharat, and not just India.
India's gross domestic product growth has slumped to 6.5 per cent in 2011-12, the lowest in the last nine years.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
Heads of the leading business chambers -- Ficci and Assocham -- on Monday said the industry has 'equal responsibility' along with the government to pull the economy out of slowdown without always 'cribbing about policy paralysis'.
Prime Minister Narendra Modi on Tuesday met business leaders to hear their grievances on issues ranging from high capital cost to ease of doing business to certainty on taxation matters, as he interacted for the first time with the Indian industry chambers since taking charge over a year ago.
An author of over 80 books, a lead developer for an e-security product and the president of the Foundation of Information Security and Technology, he has co-chaired efforts by the Mumbai Police and Nasscom to institute cyber security.
Health Minister Harsh Vardhan said the COVID-19 vaccine will be available in the next few months and it is estimated that by July-August 400-500 million doses will be made available for 25-30 crore people.
