It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Enactment of Insolvency and Bankruptcy Code has been instrumental in pushing up India's ranking in the 'Doing Business' report
He said the Indian economy in the last few years has become very open, it is integrated globally, it invites investments in most sectors and has made its procedures for investment extremely simple.
India Inc is encouraged by a determined Budget.
This was even as the country's economy grew by 7.3%.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
Telecom operator Bharti Airtel Chairman Sunil Mittal on Wednesday said the telecom sector reforms approved by the Cabinet will ensure that the industry is able to invest fearlessly, and the company will respond to Prime Minister Narendra Modi's call to invest and accelerate the country's growth. Among a series of breathers for the stressed telecom sector, the Cabinet has approved the inclusion of revenues earned only from telecom services in the adjusted gross revenue (AGR), and the removal of penalty on dues to be paid to the government prospectively. Mittal congratulated and thanked the government for undertaking these seminal reforms to lift an industry that is at the core of his Digital India vision.
A full-blown recovery remained elusive for India Inc in the July-September quarter, even as it overcame the challenge of achieving profitable growth.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
The move could streamline capital flows and help finance current account deficit
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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Chidambaram also said the government will take steps to curb imports of gold, silver, oil and luxury goods.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Srei Infrastructure's vice-chairman -- and former Assocham president -- Sunil Kanoria discusses the Kanoria businesses and his impression of the Modi government with Ishita Ayan Dutt and Namrata Acharya.
'We will be looking to prune our portfolio to make GIC Re a healthier entity.'
Motilal Oswal, chairman and managing director, Motilal Oswal Financial Services, tells Puneet Wadhwa that with Moody's upgrading India's sovereign rating and earnings growth coming back, the country will remain a hot destination for foreign investors.
This licence will further enhance the niche role Doha Bank is playing and facilitating the movement of trade between Qatar and India.
The short answer, as usual, is I don't know. But this is what could happen in the next one year...
The two nations share a problem of corporate debt gone bad that is so large and opaque.
'In terms of growth rate, India is better than China.'
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Fiscal situation better but spending cuts likely in FY16 too.
To invest $1 bn in realty sector, mulls new funds; has done exits worth Rs 8,000 crore, says founder
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
For the wealthy, post-tax returns of debt funds would work out better
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
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.
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.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
The wheels turn for bicycles, as manufacturers go back to the basics. After motorised two-wheelers overtook cycle sales in the country, manufacturers are focusing on commuter segment again and reviving entry-level cycles.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
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