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.
'We will be looking to prune our portfolio to make GIC Re a healthier entity.'
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.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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.
ICICI Bank on Sunday said there is also enough space for Chinese banks to play a complementing role in the India.
India has one thing that China has - the potential to be of interest as a huge market in its own right.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.5% and 0.4%, respectively.
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.
Modi's government plans to support domestic demand
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.
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.
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.
Companies with more than Rs 10,000 crore of debt would seek refinancing.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
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.
No need for extra stimulus, India to hit around 8 pct growth: adviser
Pallon has already joined the boards of some of the unlisted companies such as Afcons
'We can only hope that the government has finally 'got it' and will stay focused on improving productivity, demand, and governance,' says Debashis Basu.
'The fact that housing units worth a whopping Rs 4.5 lakh crore in top seven cities are stuck under various stages of non-completion indicates that there is a dire need to create stress-asset fund which will help bail out lakhs of distressed homebuyers,' says Anuj Puri, Chairman, Anarock Property Consultants, a real estate services company.
As the Modi government enters the fourth year of its tenure, it is looking more confident, shedding its earlier inhibitions about offering sops or new opportunities to big business, says A K Bhattacharya.
The 24-hour delivery offer applies only to select postal codes and is not available across the country.
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
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.
Rs 275 cr payment to Tata Power (SED) blocked for putting Indian part
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
Infrastructure and inflation targeting are expected to be top priorities for the new Reserve Bank of India governor, says A V Rajwade.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
'There is no change in the overall story of economic recovery.'
The Survey shows fiscal consolidation despite slowdown in growth.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
Axis Bank emerged as the biggest gainer in the Sensex pack, surging 6.62 per cent, followed by SBI at 5.88 per cent.
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Bandra-Worli sea link has still not been able to make money for MMRDA in spite of steep toll for car owners.
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