BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
The revised estimated expenditure for FY20 has been pegged at Rs 26.99 lakh crore and receipts at Rs 19.32 lakh crore, she said.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
Sitharaman exhorted the states to work together with the Centre, stating that while the Union government sets the direction of economic growth, it is for the states to ensure effective implementation on the ground.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
The amount constitutes 45 per cent of the railways' total wage bill.
Union Agriculture and Farmer Welfare Minister Munda, Commerce and Industry Minister Piyush Goyal and Minister of State for Home Affairs Nityanand Rai represented the Centre at the meeting over the farmer unions' various demands, including a law guaranteeing a minimum support price (MSP) for crops. Punjab Chief Minister Bhagwant Mann also joined the meeting at the Mahatma Gandhi State Institute of Public Administration in Sector 26. The meeting started at around 8:45 pm on Thursday and lasted for around five hours.
2010 was indeed an eventful year from the personal finance perspective. The year had its share of controversies, forward looking policies as well ones which will pinch your pocket more in days to come. Here is a look at top 10 news items (in no particular order).
If Tamil Nadu voters preferred the DMK combine, it owed to the Modi-Annamalai combo's ideological battle which often crossed the line of political decency and also challenged 'Tamil pride', argues N Sathiya Moorthy.
A Bench comprising Justice S B Sinha and Justice S H Kapadia took a serious view of the non-allocation of funds by the 12th Finance Commission to enable the continuance of the FTCs.
The poll panel also referred to the reported strong oral observations of the top court against it during the last hearing on the PIL on the issue, saying they have "caused irreparable damage to the reputation of this institution built over the years".
The announcement came as Prime Minister Pushpa Kamal Dahal 'Prachanda' called an emergency meeting of the council of ministers following the crash.
The courts in Pakistan have been flooded with petitions as candidates, mostly backed by jailed former prime minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI), challenged the results of Thursday's general elections, alleging rigging.
Byju's is set to go the way of Housing.com and Zilingo. It is only a matter of time. Indeed, the coup attempted by investors will ensure that, says Debashis Basu.
The Pay Commission process is symptomatic of a national crisis within the Indian state.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
Andhra Pradesh has been demanding a Special Category State status from the Centre ever since the state's economic powerhouse Hyderabad, which housed several IT and pharmaceutical companies as well as PSUs, went to Telengana in the bifurcation
The commission has, over a period of time, identified various parties which have not contested polls since 2005 and has 'delisted' over 200 of them.
Jaitley said focus is on larger expenditure on social sector.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
A National Commission order held that the buyer was the borrower and so the bank was entitled to demand the EMI payments from him.
The BJP is now inventing new angles to keep its campaign relevant -- even if it's old wine in an old bottle, which is what the allegation on 'Katchatheevu' is, notes N Sathiya Moorthy.
This is the fourth such recruitment drive proposed to be undertaken by the Narendra Modi government which had in 2018 initiated lateral entry.
According to the report, Indian economy is headed for a "perfect storm" worse than 1991 because government's cashflow by March 2013 is threatening to be Rs 110,000 crore (Rs 1,100 billion) more in the red than the expected Rs 500,000 crore (Rs 5,000 billion).
When we are unwell, we consult a doctor, take a prescription, and then buy medicines from a chemist. In finance, too, it is best to keep investment advice and product purchase separate, suggests Bindisha Sarang.
'Modigate is snowballing into a huge thing with the electorate. The BJP is in for huge punishment by the electorate.'
The commission in its recent assessment of the economy also expects economic growth to go up to nine per cent in 2011-12, and further to 10 per cent in 2014-15.
The Supreme Court on Friday said lawyers and professionals with 10 years of experience will be eligible for appointment as president and member of the state consumer commission and district forums.
Three key babus will make room for a new set of officers to carry the baton of Budget programmes.
There will be a dramatic alteration in the role the Centre and the states will play to shape India's fiscal and economic destiny, report Nitin Sethi and Ishan Bakshi.
The country's new home minister, Palaniappan Chidambaram, today said he prefers a Congressman as his successor in the finance ministry, setting off speculation about the implication of his statement.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
The TDP chief said he tried to speak to Prime Minister Narendra Modi as a 'courtesy' to inform him about the decision to quit but he did not come on line.
Sharif, the three-time former premier, said that there is a need for all the political parties to sit together and form a government to pull Pakistan out of its difficulties.
Prabhu hoped that during this 3-4 years period, railways would be able to absorb the impact from their resources
The judge will hear arguments on the quantum of punishment on July 12 and the convicts can get a maximum sentence of life imprisonment for the offences.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
