Speaking at a meeting of India-Seychelles Business Forum on Sunday night, he said that in a few months, the strategically located island republic will be connected to a new state-of-the-art undersea fibre optic cable that will open up a host of opportunities in the services and online sectors.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
Chidambaram said he was honoured that the two leaders visited him.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
The government was going in the "wrong direction" and it was "highly condemnable" that it did not discuss the proposed changes with trade unions and other stakeholders, says BMS, trade union arm of the RSS.
The relations between the two countries have never been as good as they are now, Trump said, adding that the countries have made "wonderful deal".
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
The idea is to do away with the need for the approval of the Core Group of Secretaries on Divestment for privatisation of companies, especially in non-strategic sectors.
The US has slapped additional tough sanctions on Russia's financial services and energy sectors for the failure of Moscow to taken enough steps to address the volatile political situation in Ukraine.
Sebi might come out with a regulatory framework for issuance of 'green' bonds
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
Madhav made the statement when asked why Sarma cannot contest despite being responsible for 25 seats.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
The order gives the state and treasury departments authority to consider and impose sanctions on individuals, entities or associates of the Turkish government involved in actions that endanger civilians or lead to the further deterioration of peace, security and stability in northeast Syria.
High food prices have pushed 44 million people into poverty since June.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
FM brings these sectors under the knife in a final attempt to hit a tough fiscal deficit target
World finance ministers will meet on Oct 7-8 in Lima, Peru, to try to agree on climate change framework.
Though startups find 17 mentions in the Budget speech of the finance minister, and have been promised tax exemptions, the reality is that only 2 per cent of the 4,648 applications received from startups for income tax exemption had been approved as of February 2019, according to an answer to a Parliament question. As India's startup space bubbles with activity - new, young players are tapping into opportunities opening up - there are local anti-portfolio stories circulating about investors missing opportunities in 'unicorns', or companies that have reached valuation of $ 1 billion, says Vandana Gombar.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
'Cyrus was always very different. He would think before acting.'
We ask you to rate the pradhan sevak and his ministers on four criteria: Vision. Execution. Efficiency. And their response to the public.
Here is the full text of the joint statement issued by India and the US.
Vajpayee had always felt that India must act with conviction and panache. He decided that, irrespective of the attendant risks, he would undertake what many felt was a precarious course. A fascinating excerpt from N K Singh's Portraits Of Power: Half A Century Of Being At Ringside on Atalji's 96th birthday, December 25.
Karnataka Chief Minister Siddaramaiah has retained key portfolios of finance, industries and energy, while K J George would be the new home minister.
There has been a decline in foreign direct inflow from China in the last three years, with FDI coming down to USD 163.77 million in 2019-20, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha on Monday. Giving details of the total foreign direct investment (FDI) inflow from Chinese companies in India, he said, it was USD 350.22 million in 2017-18, while it declined to USD 229 million in the following year.
Prime Minister Modi will continue to take the nation by surprise, catching his political opponents offguard, says Shreekant Sambrani.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
The prime minister said that India has invited Germany to take advantage of opportunities in defence production in the defence corridors in Uttar Pradesh and Tamil Nadu.
The list has been sent to Governor Ram Naik for approval.
The need of the hour is to strike a balance between the capability of the conventional and the prospect of the renewable to give a realistic shape to the Prime Minister's vision, says Rajiv Mishra.
The Forum is organised by Singapore Indian Chambers of Commerce and Industry, with the partnership of state-trade agency IE Singapore, the Confederation of Indian Industry and the Singapore Chinese Chamber of Commerce and Industry.
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
In order to implement big ticket ideas which are likely to come via the Budget of 2015, Modi needs better political talent around him, says Sheela Bhatt/Rediff.com.
Launching the auction of mines for commercial mining, that is expected to garner Rs 33,000 crore of capital investment in the country over next five to seven years, Modi said it not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
