The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
Real estate companies have asked the government to give them infrastructure status that will enable them to access cheaper money raising options. Does the speculative sector deserve this?
SBI keeps IDBI waiting for proposal to set up infra development fund
Had you invested Rs 10,000 each in JSW Steel, Titan Company and Bajaj Finance 20 years ago, when they were just penny stocks (trading below Rs 10), you would have become a millionaire by now.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
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The National Spot Exchange Ltd, promoted by Jignesh Shah-led Financial Technologies, is facing a Rs 5,600-crore (Rs 56-billion) settlement crisis.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
The unchanged duty structure for the cement industry is a major disappointment. However impetus for rural growth and infrastructure development will ensure healthy demand to continue.
A tech architect must have certifications across ERP platforms (SAP, Oracle, Microsoft) and Cloud platforms (MS, Google, Low code SAAS platforms such as Salesforce, and ServiceNow).
Tata Electronics on Saturday began the construction of its Rs 27,000-crore chip assembly plant in Assam, which is expected to become operational next year and create 27,000 jobs initially. The plant will produce 4.83 crore chips per day using indigenously-developed technologies. The plant's Bhumi Pujan (foundation stone laying) ceremony was held at the project site at Jagiroad in Morigaon district in the presence of Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran.
Inadequate funding and non-viability of some projects have forced several leading infrastructure development firms to stay out of bidding for over 13 highway projects worth over Rs 12,500 crore (Rs 125 billion).
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
The bonds' unattractive structure seem to have found little favour with eligible taxpayers and infrastructure finance companies are hoping the government would do something to enhance product appeal.
'There will be 200 ITIs developed as hubs, while 800 will be developed as spoke, connected with five National Skill Training Institutes.'
Ajay Piramal bets highly on infrastructure, realty
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
The Budget proposals are expected to boost the fortunes of consumer goods and fast-moving consumer goods companies, which have been struggling with poor consumer demand for more than a year. The Budget announcements, such as the increase in standard deduction by Rs 25,000 for income-tax payers and slab revisions, will put more money in their hands, boosting consumer demand. Private consumption is also likely to benefit from a new scheme to offer internships to 10 million youths in the country's top 500 companies.
It came down from $1.94 billion in 2009-10 to $1.17 billion the next year and to $1.11 billion in 2011-12.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
Finance Minister Arun Jaitley announced slew of reforms for the masses.
Megha Engineering had emerged as the second-biggest buyer of electoral bonds and donated the highest amount of about Rs 586 crore to the Bharatiya Janata Party, according to the data released by the Election Commission on March 21.
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
Finance Minister Nirmala Sitharaman on Tuesday announced income tax relief for the middle class, a Rs 2 lakh crore outlay for job creation schemes over the next five years and a spending splurge for states run by her party's new coalition partners as she unveiled the Modi 3.0 government's first budget after the general elections.
'No Budget has so far has addressed the issue of the government's abysmal productivity of capital spending, improving which will be the big game changer. 'But, the government's tight lock on businesses, banks, education, and even essential services like transportation and large parts of infrastructure and healthcare is destroying capital year after year,' points out Debashis Basu.
According to an industry analyst, the telecom infrastructure sector needs over $20 billion, while the passive infrastructure segment needs an investment of over $12 billion.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
Srei Infrastructure Finance is set to be the first Indian company to go for Islamic financing for over Rs 200 crore
The two-wheeler segment has shown signs of recovery in the first half (H1) of calendar year (CY) 2024, largely driven by improving performance in rural areas. According to the Federation of Automobile Dealers Associations, rural contribution to two-wheeler sales surged by 57-60 per cent in the April-June quarter of 2024-25, indicating a rising demand in these regions. Experts believe that this trend will continue, supported by a favourable monsoon season and government initiatives aimed at rural development.
Elaborating on this theme, Petroleum Minister Dharmendra Pradhan pointed out that if the power sector had not been opened up through reforms initiated in 2003, India would still have been in darkness.
Only NIIF has stayed the course as a viable infrastructure financing institution.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
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