This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
The government had in July 2010 imposed a cess on coal at an effective rate of Rs 50 a tonne.
The market regulator is mulling safeguards relating to power of attorney.
While India allows 100 per cent FDI in a large number of the sectors, there is a ceiling on foreign investment in sensitive segments like multi-brand retail, insurance, defence and telecom.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
The move would help insurance firms to get much needed capital from overseas partners.
The government is likely to exempt iPhone and iPad maker Apple from mandatory local sourcing rule, a move which would pave the way for tech giant opening single-brand retail stores in the country.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
The going is not going to be easy for the DMK and its allies in Elections 2024. Despite the seats sweepstake in the 2021 assembly polls, the vote-share difference of 5.6% (DMK's 45.38% versus AIADMK-BJP's 39.72%) is not insurmountable on a bad day, points out N Sathiya Moorthy.
Congress insists on sending legislation to select committee, says will support it in winter session.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
The Cabinet Committee on Economic Affairs has approved ONGC Videsh Ltd's proposal to invest $820 million for acquiring US energy giant ExxonMobil's interests in an oil field located off the Brazilian coast.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
While the Congress party has said that the deal was transparent as payment of Rs 2 crore was received by Vadra from Kapoor through cheque and was reflected in income tax returns, the ED is probing if the painting was owned by her or the AICC.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
Minister of State for Commerce and Finance Nirmala Sitaraman, in Mumbai to address election rallies, took time out to talk about the economy, foreign investment and trade facilitation.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
The government on Friday approved the acquisition of drug company Ranbaxy Laboratories by Japanese pharma major Daiichi Sankyo envisaging foreign investment of around Rs 21,500 crore (Rs 215 billion).
'You cannot treat workers like beggars.'
The meeting of Central Board of Trustees is likely to be stormy on Thursday with both right and left wing trade unions making up plans to demand at least 9.5 per cent EPF rate
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
The new rules for foreign investment issued by the Cabinet committee on economic affairs have two specific problems. Both lie in the new provision that any company which has an Indian majority shareholding and Indian control will be treated as an Indian company.
The repo rate, at which the central bank lends to the system, will come down to 5.75 per cent after the cut.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
'EPFO's investments this financial year should be Rs 1 lakh crore'
While there has been no commitment from the government on the procurement of vaccines, initial volumes, or distribution plans, there is a likelihood that the low interest loans may be made available to these players only when the time to scale up manufacturing arises.
A sub-committee of the country's biggest provident fund, EPFO, is believed to have recommended slashing of interest rates to 8% for its 3 crore subscribers, even as some trade unions pitched for hiking the rate to 12%.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
After securing Congress support for a rise in the foreign investment cap in the insurance Bill, this is another key reform Bill where the Centre has managed a broad consensus.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
Chidambaram and his son Karti were named in the chargesheet filed by the Central Bureau of Investigation in the case on July 19.
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