Why did the political system in the country react to these two decisions of the Modi government in a diametrically opposite manner? asks A K Bhattacharya.
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra and UltraTech Cement were among the gainers.
An angry BCCI has now threatened to withdraw the Indian team from the next year's Champions Trophy in England after being excluded from the ICC's finance committee meeting held a few days ago in Dubai.
Infosys will comply with whatever regulations and guidelines Karnataka comes up with, a top company official said on Thursday on the proposed reservations for locals in private firms in the state. Infosys employs over 3.15 lakh people at present across the globe. "We are planning to work with all the regulations of the state and central governments.
After her elevation as defence minister, Sitharaman has become a member of the cabinet committee on security headed by the prime minister.
Finance Minister Nirmala Sitharaman on Tuesday met top officials of the finance and corporate affairs ministries to review the implementation of various announcements of the Union Budget FY24. "The finance minister underlined the importance of continuous assessment of progress to ensure that various announcements are implemented in a time-bound manner," the finance ministry said in a tweet. Sitharaman also discussed in detail various issues on the digital competition laws with Rajeev Chandrashekhar, the minister of state for entrepreneurship, skill development, electronics and technology.
The Goods and Services Tax (GST) Council, scheduled to meet on June 22, could take a call on ending uncertainty on taxing foreign airlines and shippers as regards certain services, a senior official in the know told Business Standard. He said the Council was expected to decide on exempting the services in question from GST - aircraft lease rentals, maintenance, crew salaries, etc. These services are provided by foreign airlines to their Indian operations.
The Ethics Committee of Rajya Sabha headed by Congress veteran Karan Singh on Monday took cognizance of the issue of Vijay Mallya, who has allegedly defaulted on over Rs 9,000 crore (Rs 90 billion) bank loans.
Government headhunters Public Enterprise Selection Board selected Srinivasan after interviewing 11 candidates at its office in New Delhi on Tuesday.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
The government is considering setting up a special purpose vehicle (SPV) for financing of non-banking finance companies (NBFCs) following the reluctance of banks and mutual funds to make available funds for the sector.
When it comes to the Congress and Wayanad, the only way the scepticism in the minds of some in Kerala may be addressed is by the Gandhi family proving that they are more than a passing caravan in town, reports Shyam G Menon.
'I gave enough evidence and proof to punish corrupt officials.' 'But my own government has not filed any FIR against such officials.'
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
It is now clear that the revised takeover code and the Bimal Jalan committee report will not be implemented soon and in the same form, since the finance ministry wants to seek industry views on these two sets of recommendations this month, before the market regulator could take a decision.
Finance firms in these SEZs likely to get tax breaks.
Land, houses and other infrastructure facilities required for the rehabilitation procedure would be constructed at the earliest, the authorities said.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
The Congress leader also lamented the exclusion of current Leader of Opposition in Rajya Sabha Mallikarjun Kharge from the committee
With an aim to safeguard the investors from possible frauds involving collective investment schemes, the government has proposed a high-level committee of members from Reserve Bank, Sebi, Corporate Affairs Ministry and Economic Office Wing of state police departments.
The committee will be headed by retired Supreme Court judge Justice U C Banerjee, Finance Minister P Chidambaram told reporters in New Delhi after a Cabinet meeting.
The 'Indira Gandhi award for best debut film' and the 'Nargis Dutt award for best feature film on national integration' have been retitled with the names of the late prime minister and legendary actor being dropped as part of a raft of changes for the National Film Awards, according to a notification.
Following are the highlights of the RBI's first monetary policy statement of 2022-23 unveiled by Governor Shaktikanta Das: Policy repo rate unchanged at 4%; marginal standing facility rate & bank rate too remain unchanged at 4.25%. Monetary stance to be accommodative with focus on withdrawal of accommodation to keep inflation within target. GDP growth projection for FY'23 slashed to 7.2% from 7.8%; growth projections based on assumption of crude oil (Indian basket) price at $100 a barrel during FY'23. Inflation forecast hiked to 5.7% for FY'23 from 4.5%.
The challenge is to convince productive sectors that a lower general rate would benefit all and remove the prevalent system of favours targeted towards narrow industry and service sector groups.
Former Prime Minister Manmohan Singh, who is hailed as the architect of economic reforms in the country, is a member of the Parliamentary Standing Committee on Finance, it was announced on Tuesday.
A high-level committee on Thursday recommended simultaneous elections for Lok Sabha and state assemblies as the first step followed by synchronised local body polls within 100 days.
The Micro Finance Institutions (Development and Regulation) Bill, 2012, is currently being scrutinised by a Parliamentary Standing Committee.
United Nations proscribed terrorist Lakhvi, 61, who was on bail since 2015 in the Mumbai attack case, was arrested by the Counter-Terrorism Department of Punjab province on Saturday.
Rajya Sabha chairman Jagdeep Dhankhar on Tuesday nominated former home minister and Congress member P Chidambaram to the department-related parliamentary standing committee on home affairs.
The MPC states that the 4 external members will have a tenure of four years each.
An accidental encounter between Maharashtra deputy CM Devendra Fadnavis and Shiv Sena-Uddhav Balasaheb Thackeray chief Uddhav Thackeray in a lift in Vidhan Bhawan on Thursday caused ripples in state political circles.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
The government also announced that healthcare cover under the Ayushman Bharat insurance scheme will be extended to all ASHA and anganwadi workers and helpers.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
Interim Budget, the US Federal policy decision and quarterly earnings will be the major drivers for stock markets which may also see some consolidation this week, say analysts. Besides, investors would also focus on the trading activity of foreign investors and global trends for further cues. From the macroeconomic front, the PMI (Purchasing Managers' Index) data for the manufacturing sector is scheduled to be announced on Thursday.
Among the Sensex firms, ITC, Kotak Mahindra Bank, ICICI Bank, Nestle, Axis Bank, IndusInd Bank, UltraTech Cement, Bajaj Finance, Maruti and HDFC Bank were the major laggards.
