The divergence shows lack of financial depth in the Indian stock markets.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
There's no silver bullet to get rid of poverty, says Alok Sheel.
Since end-May there has been volatility in the foreign exchange market.
While the motives of the Bill are of course laudable, there is every likelihood that the consequences of its passage will be dire.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The video conference, which began at 11 am, comes amid indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
'So far, no government has imposed a financial emergency in the country,' notes A K Bhattacharya.
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
'I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis'
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
The Greek debt crisis shows clearly that if the eurozone is to come out of this crisis relatively unscathed, it needs a full-time fiscal-monitoring and crisis-resolution mechanism.
The industry's reactions to the Budget have been mixed.
"We are investing in India... We've already launched an app accelerator centre. That's on top of working with the channel and looking at expanding our go-to-market in general," Cook said during the company's third quarter earnings call on Tuesday.
The world seems to have caught severe pneumonia, or worse, as China had flu.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
The world, he said, needs to move towards a transparent and flexible market for both oil and gas.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
The US Citizenship and Immigration Services has announced that it has received sufficient number of applications to reach the mandated cap of 65,000 for working professionals for the fiscal ending September 30, 2010.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
The RBI's big decision is not how much to ease but whether to monetise the fiscal deficit.
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters to around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.
The Biju Janata Dal will not oppose the government simply for the sake of opposing it, BJD Member of Parliament Bhratruhari Mahtab tells Aditi Phadnis.
The agency had earlier said that the economy would grow at the rate of 5.8 per cent. In a teleconference, S&P said the revision was occasioned because of the positive policy responses by the country and improving global conditions, despite the deficient rains and lurking swine flu.
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
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.
Indian states are preparing for a Rs 1.9 lakh crore (Rs 1.9 trillion) tax windfall this fiscal year.
When the Indian economy tanked in 1991, it did so because it ran out of foreign exchange. Today, it is tanking because it has run out of rupees even as the foreign exchange granary is overflowing, says T C A Srinivasa-Raghavan.
Germany is now sitting on a mountain of savings.
The Reserve Bank of India (RBI) is expected to hold its policy interest rate at 6.75 per cent next week to stifle inflation.
With the stimulus measures primarily comprising cut in indirect taxes, the Survey said there is likely to be a shortfall in tax collections under these heads.
The demand for OROP has been projected as an unambiguous issue but a good policy argument must have a sound economic element.
Finance Minister Pranab Mukherjee on Tuesday met exporters, a day after the release of the April export data which showed the sharpest fall in overseas shipments in 14 years, assuring them he would do his best in the Budget.
