The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
Aircraft lease rentals are fixed costs and account for around 15 per cent of an airline's expense and since these are paid in dollars are also subject to currency fluctuations.
As Chinese gadget-maker Xiaomi, the world's third largest smartphone seller after Apple and Samsung, turns five today, it will seek to intensify its India push. But there are miles to go before it can claim true success in India, as a harrowing experience of one of its smartphone users suggests.
The new government has to make conscious efforts to rebuild social equality and bring the people together.
High interest costs and a weak rupee may raise overall debt, even as refinancing may not be an issue.
Large and small businesses alike have delivered low-key performances.
'No matter how many government schemes there are for the poor, the system works more for the privileged, less for the little guy,' notes T N Ninan.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
While the government has not made the report public, sources said the panel had recommended a sharp cut in all taxes on the gold business, including import duty and goods and services tax which amounts to over 13%.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
StanChart India CEO Zarin Daruwala is building a culture of 'celebrating liabilities,' the tough negotiator tells Niraj Bhatt and Anup Roy over lunch.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The recovery was led by information technology exporters.
Components manufactured in India are low-value products like casing and box packaging that constitute 5% of the bill for materials required in phone manufacturing.
The CM's statement came on a day state Congress chief Navjot Singh Sidhu once again sought the replacement of Punjab's police chief and advocate general.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
Ex-Infosys CFO V Balakrishnan said the IT companies 'have to get employees who understand new technologies, they have to get rid of some of the employees, who are more on the legacy, and try to attract talent which is more digital'.
Planet Earth welcomed its 8th billion inhabitant on Tuesday, a remarkable milestone for humanity that is set to propel India to become the world's most populous country next year, surpassing China amid rising global challenges.
Maulana Kaleem Siddiqui was arrested by the ATS, which is probing the racket, at around 9 pm on Tuesday from Meerut, Additional Director General (ADG), Law and Order, Prashant Kumar said.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
While most universities and colleges are genuine about what they offer, applicants need to verify the claims to check for authenticity and red flags if any, alerts Piyush Kumar, regional director, (South Asia), IDP Education, an overseas education consultancy.
Stronger rupee likely to take a toll; Infosys results on April 13 to be keenly watched
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
'Pakistan was very mature in the way it dealt with the incident.' 'India too owned up to the accident.' 'The whole incident was resolved quite amicably.' 'Both countries should be proud of how they have handled this situation.'
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
100-day agenda: Commerce ministry pushes for separate logistics department
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
'Through a translator, I was able to speak with several of the detainees from India who are seeking asylum.' 'I was saddened to hear the detainees tell us that they are being confined in their cells for up to 22 to 23 hours a day.' 52 Indian are among the 121 asylum-seekers held in an Oregon prison. Rediff.com Senior Contributor Pottayil Rajendran reports from New York on the case that is making headlines in America, India, indeed around the world.
'India is a high-cost market but that is man-made. The government can change that with a stroke of the pen.'
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
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