Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
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The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
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Cabinet likely to pave way for the 'super-rich' tax today.
With Prime Minister Narendra Modi emphasising the need to kick-start investment in the country, the project monitoring group (PMG) under the Cabinet Secretariat has asked various government departments to start monitoring projects for which clearances have been facilitated through this mechanism.
While the Congress will firm up its strategy once the ruling alliance tables the Bill, initial comments by its leaders have been encouraging.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
Shifting to a PPP model could repeat the errors of the past
In 2010, ministry told its officers nominated on PSB boards to stay away from big-loan panels; central bank followed suit.
The Governor said the MPC had voted to maintain its accommodative stance, implying more rate cuts in the future if the need arises.
'Around 15 crore poor people have lost their money.'
The government on Wednesday approved Rs 10,000 crore (Rs 100 billion) 'Fund of Funds for Startups' to support them with an aim to generate employment for 18 lakh persons.
Getting locked into instruments before the new regime kicks in would be a good strategy.
Addressing the Congress Working Committee, the president of the party said, ""Misfortunes do not come singly. India has been hit by a terrible economic crisis, a pandemic of huge proportions and, now, by a full-blown crisis on the borders with China. Much of each crisis is attributable to the mismanagement of the BJP-led National Democratic Alliance government and the wrong policies pursued by it."
'Priyanka Gandhi play is not only about winning allies and lifting spirits; it's also about cash'
The high-level meeting comes against the backdrop of the rupee touching a record low of 58.98 to a dollar on Tuesday.
The Prime Minister directed that a special cell be created immediately in the Cabinet Secretariat.
Kerry is scheduled to head to India later this month for the fourth annual US-India Strategic Dialogue.
'The target for next year is unlikely to be more than that of this year. The more you divest in any cycle, the less your potential pipeline for the next,' said an official. 'The first two issues we want to tackle and complete in FY20 are Air India and Hotel Ashok.'
The Make in India Week has become a platform for two Bharatiya Janata Party (BJP)-ruled states to jostle for the number one destination in India for investor funds.
Presenting the Narendra Modi government's maiden Rail Budget, Railway Minister Sadananda Gowda announced setting up of logistic parks and private freight terminals on PPP model.
The bond market expects at least 25 basis points cut in the June 6 policy.
The FAQ also clarified that companies, including Titan, which supplies watches and jewels through their own websites will not be considered as e-commerce operators
Doubts over implementation of a Cabinet-approved strategic sale policy are puzzling.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
'Government of India has the right to give directions to RBI'.
'As an investor, I either have to exit my investments in the next three months or use dark pools or cash to transact. For a normal investor, it will be almost impossible to transact in bitcoin and other digital currencies.'
On the eve of Prime Minister Manmohan Singh's press conference on Friday, the Bharatiya Janata Party on Thursday asked him some probing questions, including how he thinks history would judge his tenure, "failure" to assert himself against corruption and "subversion" of constitutional institutions.
BSE proposes two models for making gold trading and investment transparent
There is a case for analysing the fiscal deficit, separately for expenditure and investment.
Vijay Kelkar, who headed the committee on tax reforms, on Tuesday warned that higher economic growth and foreign direct investment flow could not be achieved without hard fiscal reforms.
According to officials, more clarity might be required with regard to foreign fund managers in the context of Air India divestment.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
The ED said that Chidambaram has remained evasive and therefore grant of pre-arrest bail at this stage would be highly detrimental to the investigation.
Two months ahead of the Budget for 2005-06, Finance Minister P Chidambaram on Monday promised to make tax structure simpler for petroleum, telecom, sugar and textiles sectors.
Franz Beckenbauer, who headed Germany's 2006 World Cup organising committee, said on Monday a transfer of 6.7 million euros to world football's governing body FIFA in 2005 was a mistake but rejected claims it was a return of a loan to buy votes in favour of the country's World Cup bid.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
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