The Narendra Modi government on Thusday released the 2017 government calendar. The calendar comes with a theme for every month and has Prime Minister Narendra Modi featured from start to end.
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
Union Minister Nitin Gadkari said opening of transport and highways will go a long way in instilling confidence among the public and cautioned towards maintaining social distance and adopting all safety measures like hand wash, sanitizing, face masks, etc while operating buses and cars.
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
The next meeting of the GST Council will be held on September 28-29 in Goa.
If appointed interim head, Vishwanathan would head the central board meeting scheduled this Friday
'It is because we treat them as our own people, and there is no difference between owners and workers here.'
'There are some high-frequency indicators where uptick is visible and some where it is not'
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
'If many start-ups lose in this environment, there will be less number of people willing to start new businesses.'
The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.
The major beneficiaries of loan recasting will be sub-Rs 500 crore corporate exposures and retail exposures, which were earlier expected to see the highest increase in NPAs in percentage terms.
The protocol aims to "democratise" lending, reduce costs of credit, and ensure accessibility of credit to small companies and street vendors, according to Nandan Nilekani.
There are over 26 million MSMEs in the country that provide employment to around 60 million people.
In televised remarks after Finance Minister Nirmala Sitharaman presented the budget, Modi said it has many provisions for the agriculture sector, including for making loans easier for farmers.
'COVID-19 is just an excuse to pass anti-labour laws.'
Sectors, which, recorded healthy export growth included electronics, engineering, chemicals, pharma and tea.
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
Prime Minister Narendra Modi on Tuesday slammed Chief Minister Mamata Banerjee for seeking en bloc voting by Muslims for the Trinamool Congress and said had his party made a similar appeal to Hindus, it would have been criticised and censured.
All schools and colleges in West Bengal will remain closed till June 10, she added. The Trinamool Congress supremo said she raised the issue of a financial package for the state and clearing its dues.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
In his first poll rally for the April 6 assembly polls, Modi rooted for the Tamil language, culture and invoked the welfare legacies of M G Ramachandran and J Jayalalithaa, late chief ministers and All India Anna Dravida Munnetra Kazhagam icons.
'Under-employment continues to be a very big problem.' 'What we see today is many youth who would have accepted any kind of job are not willing to accept any job.' 'They are ready to wait for a better job, one that justifies their educational qualification. 'This is one of the reasons why unemployment has risen.'
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
There are three proposals in the union budget 2013-14 that stand out with respect to start ups and MSMEs.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
'The Modi government is about privatising profits and nationalising losses.'
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
The meeting assumes significance as Swedish furniture retailer IKEA, which plans to invest Rs 10,500 crore (Rs 105 billion) to set up its own stores in India, had sought relaxation in certain conditions related to the mandatory 30 per cent sourcing from micro and small enterprises.
'By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.' 'Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.' 'And what Tirupur produced in March is still here, and they have also become dead inventory.'
