Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Power and money are at the heart of the sordid story -- and it isn't over yet.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
'Our strategy should be to 'hold the line' in the north on the Sino-Indian land frontier, but maintain and, if possible, enlarge India's current edge in the maritime south.'
Majority expect economy to slow down, but are satisfied with Modi govt's performance.
'Our thrust would be on basic facilities first like sanitation'.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
A user just needs to download any app floated by such fraudsters and apply for instant loans. These apps are mainly concentrated on Google Play considering the reach and popularity of Android systems.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The Mumbai town planning agency has said it can't spare land in the commercial BKC area for a terminal due to demand from private firms
The government has been waiting for the expansion by the private sector, Finance Minister Nirmala Sitharaman said while reminding India Inc of various measures including corporate tax rate cut, policy consistency, ease of doing business, among others to facilitate investment.
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
The overriding objective of the National Investment and Infrastructure Fund (NIIF) must be adequate economic return, not financial return.
83% of the CEOS plan to hire more in the new year.
IRFC, NHAI, Hudco and others to hit the market in next few months.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
Housing Development and Infrastructure on Tuesday said it proposes to raise up to Rs 1,485 crore (Rs 14.85 billion) through an Initial Pubic Offering to part finance land acquisition and development of its ongoing projects.
Budget should raise revenues & reduce spending to increase capital expenditure.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
'This plan is basically to allow some of the government assets for rent, and surely not for sale.' 'There is a difference between selling a house and renting out a house.'
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
Over 80% of graduate engineers passing out of universities in India are unemployable. With digitisation going mainstream, this skill deficit can be redressed through world-class training material, points out Ankit Shyamsukha, CEO, ICA Edu Skill.
'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.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mr Prime Minister, good economics and the welfare of the people are always good politics. If you follow my advice, you will be enthusiastically rewarded come election time. If you fail, history will hold you responsible, warns Kalyan Singhal.
Income from renting of properties is taxed at a flat rate of 10%.
The Major Ports Authority Bill, 2020 was passed through ballot votes in the Rajya Sabha on Wednesday with 84 votes in its favour and 44 against it. The Lok Sabha had passed the bill on September 23 last year.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
Though the Railways is yet to declare any five-year action plan, it is clear the government is not in a position to hand-hold it for any major expansion or upgrade. The issue, however, is how far the Railways can function within the PPP format. Recent history highlights some of the challenges.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
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