Stating that India is new bright spot of hope and opportunity for the world, the prime minister said India among other things is igniting the engines of its manufacturing sector and making its farms more productive and more resilient.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
'I can confidently say there will be another financial crisis soon enough, and probably more than one global crisis within the next century, given the increasingly integrated nature of the global economy.'
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
For Make in India's success, Modi govt msut remove policy paralysis.
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
'We need to have the courage to take a rational look at known facts and act accordingly,' advises Mohan Guruswamy.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
The rise in India Inc's market value was led by asset-light firms.
Within two weeks of the speech, the prime minister flagged off the Pradhan Mantri Jan Dhan Yojana, and the day was marked by announcing its outcome on the very first day of its implementation.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
Interacting with state chief ministers, Modi underscored the enormity of what he described as the world's biggest vaccination exercise, which begins from January 16, saying over 30 crore citizens will get the jabs in the next few months in India against only 2.5 crore people vaccinated so far in over 50 countries in around a month.
Combining affordable IT with native Indian ingenuity and entrepreneurship F C Kohli believed would enable Indian small businesses match anyone and thrive.
Asset managers are betting big on ETFs these days.
'The government should refrain from 'adventurism' and 'megalomania'.' 'But this should be true of reckless government action against every Indian, whether or not they are wealthy or have access to the finance minister even when he is in hospital,' says Aakar Patel.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
India's national security strategy needs to be revised periodically since the global and regional geopolitical situation is dynamic, points out Commodore Venugopal Menon (retd).
Can poor eating habits cause neck pain?
Pahal looks to cut down diversion and eliminate duplicate.
Collateralisation of other loans and prior approval for additional leverage are things to watch out for
'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.'
Terming the state "pride" of the country, Modi said it is the gateway of the nation as it guards the frontier. It is the duty of the government to develop the state at any cost, he said.
Annabel Mehta, Sachin Tendulkar's mother-in-law, has dedicated her life to working with the Beautiful People of the other half of Mumbai without whom the city would neither exist nor thrive. Vaihayasi Pande Daniel met the amazing lady who was awarded the Member of the Order of the British Empire for her service to underprivileged communities.
Before considering reducing the freedom of private investors in the derivatives market, we need to check if the maladies in markets elsewhere exist in India, says Susan Thomas.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
'We have integrated start-up space created in almost all the 14 district headquarters of the state.'
'They have incubation facilities providing entrepreneurs common facilities like shared software, legal support, fab labs, hardware, manufacturing facilities and services like chartered accounting facilities, etc, enabling the start-ups to concentrate on technology R&D and product development.'
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
The bigger worry is that the miss for FY19 is likely to be significant even after assuming macro factors such as crude oil prices, rupee, input costs, and interest rates, do not worsen from the current levels, reports Vishal Chhabria.
The consolidated entity can target good growth FY18 onwards, analysts say.
Adhil Shetty, CEO, BankBazaar.com shares his thoughts on what could help make digitisation and going cashless easier in the New Year.
Education sector has reasosn to cheer Budget.
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