The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
The special court, however, did not permit the ED to attach the paintings owned by Modi and seized by the Income Tax department as the Bombay high court had earlier directed for the artworks to be auctioned but the money to be deposited and not disbursed.
The training programme will contain thought leadership courses, group exercises, simulations, including role plays and situation analysis and personal explorations workshops
China has been taking "incremental and tactical actions" to press its claims at the Line of Actual Control (LAC) with India and has unsuccessfully sought to prevent New Delhi from deepening its relationship with the US during and subsequent to the standoff, the Pentagon has said in a major report on China's military modernisation.
"For the next 25 years we need to focus on the five resolves - developed India, removing every trace of bondage from our mind, taking pride in our glorious heritage, unity, and fulfilling our duties," he said.
The Election Commission has written to heads of recognised political parties saying that it has created a fund in which fines for contempt of court can be deposited for failing to comply with the apex court's directions.
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
Adani Airports is planning to centre its airport business around Mumbai and Ahmedabad by developing them as gateway airports, feeding them with traffic from other airports in the company's portfolio. The Ahmedabad-based conglomerate - with investments in logistics, transportation, utilities and energy - intends to spend Rs 35,000 crore in the airport business in the next five years. This forms the bulk of the conglomerate's total capex of Rs 50,000 crore. According to a presentation given by the company in an investor call with Bank of America, gateway airports of Mumbai and Ahmedabad will be connected with the feeder airports of Lucknow, Guwahati, Trivandrum, Jaipur and Mangalore.
The judge confirmed that the bulk of the evidence submitted by the Indian authorities will be admissible
'The BJP's solo aim in Mumbai and Maharashtra is to finish off the Shiv Sena and Sharad Pawar's NCP.'
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
India will also launch a sovereign gold bond to lower physical demand.
The Congress on Thursday questioned the decision of State Bank of India to give $1 billion loan to Adani group for the development of Carmichael coal mine during Prime Minister Narendra Modi's just concluded visit to Australia.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
Wang arrived in Delhi on Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the military standoff in eastern Ladakh that began nearly two years ago.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
External Affairs Ministry Spokesperson Anurag Srivastava said India is committed to resolve all issues through dialogue, noting the way ahead to address the issue is negotiations.
'I am aware of the problems and difficulties faced by many during the NRC process but I assure you that no injustice will be done to any genuine Indian citizens'
'Everybody is losing money as interest costs keep piling up.' 'Some films will wait for a theatrical release and some won't, keeping their profit and loss situation in mind.'
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
The disruptions caused by COVID-19 have more severely impacted small and mid-sized corporates, including NBFCs and MFIs, in terms of access to liquidity.
E-commerce firms and sellers including Amazon and eBay have made recommendations to the government for a differentiated policy framework for e-commerce in the revised Foreign Trade Policy (FTP) which is expected to come into effect from April 1, 2021. This is because the existing policies on exports have catered largely to traditional, offline and business-to-business exports. Suggestions have been made to the government that through the FTP, it is important to create a conducive policy framework for e-commerce exports that lowers the entry barrier for small businesses to start exporting, according to the industry sources.
It is a classic case of extremes: The worst contraction in GDP along with the highest-ever levels of cash in the economy; and a severe dent in consumption together with strong growth in bank deposits and digital payments.
The recovery in the Indian services sector was sustained in November as new work orders supported business activity growth and the first rise in employment in nine months, a monthly survey said on Thursday.
There was no breakthrough on the disengagement of troops from the friction points in eastern Ladakh during the seventh round of military talks on October 12. "The eighth round of military talks is likely to take place this week," said a source on Tuesday.
'I am indirectly related to VG Siddhartha. Excellent human and brilliant entrepreneur. I am devastated with the contents of his letter,' Mallya said on Twitter.
Lt Gen PGK Menon, the commander of the Leh-based 14 Corps, popularly known as 'Fire and Fury' Corps, briefed the army chief on various aspects of the situation in eastern Ladakh.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
Gen Naravane said India is dealing with China in a "firm" and "non-escalatory" manner to ensure the sanctity of its claims in eastern Ladakh, and that it was even open to initiating confidence-building measures.
'There is no need to do anything, let your SIPs get deducted every month, and stick to your allocation between equity, fixed income and emergency funds and your risk covers.'
India's plant-based meat market is estimated at $30-40 million, largely driven by consumer packaged food. The market size in India is likely to touch $500 million in three years.
Both central banks targeted interbank rates to control the supply of money, aiming for a more surgical monetary tool than orthodox bank reserves or policy interest rates.
The I-T department said NuPower's balance sheet did not substantiate the high premium paid by Singapore-based DH Renewables for its shares, and suspects it could be a case of round-tripping of unaccounted income by NuPower.
The country will not allow any "unilateral action" on its border and will pay any cost to thwart such attempts, he told the Bharatiya Janata Yuva Morcha's state conference.
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