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.
In his address to the nation from Red Fort on Independence Day, Prime Minister Modi had given a clarion call to free India from single-use plastic.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
The BJP hailed teh package, saying it reflected the government's commitment towards creating jobs and stimulating the economy.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
'Our clients need business. For business you need workers and so we decided to help'
Day 1 of the relaxations saw scores of people hitting the roads in their four wheeelers and two wheelers in various parts of the state, including coronavirus hotspots, and there was confusion galore over the easing of nroms.
Lockdown relaxations by Kerala amounts to dilution of its lockdown guidelines, says the Union home ministry.
'If some measures are implemented quickly, they can help revive growth.'
There are three proposals in the union budget 2013-14 that stand out with respect to start ups and MSMEs.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
'We have been telling the government that we need handholding.' So, we sent a series of recommendations to the government, but nothing happened.' 'And the condition of industry became worse.'
The GST Council also decided that a committee of officers will be constituted to examine the simplification of forms for annual return and reconciliation statement.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
The government and the farmers must come back to the negotiating table with only the interest of the country in mind, suggests Vivek Gumaste.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
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.
Spurring the economy, currently in the throes of a slowdown, remains the prime focus for most ministries, but the government is also looking to make women's welfare and environmental protection key to policymaking in this term.
The employers, many of whom had virtually abandoned the migrant labourers, are sending them train and even flight tickets to fetch them back as factories whir back to life, construction activities pick up and the sowing season sets in.
Iron ore deposits in the Donimali mine are estimated at 143 million tonnes and worth around Rs 40,000 crore. NMDC had leased the mine in 1968 for a period of 50 years. The lease expired on November 3, 2018.
'Neither farmers nor farm labourers will benefit from these jumla announcements of the finance minister'
'We will resist it.' 'Farmers will not let that happen.'
Exports of petroleum products, chemicals, pharmaceuticals, gems and jewellery, and engineering goods registered a positive growth.
MSMEs contribute immensely to the industrial landscape of the country in terms of their 45 per cent share of manufacturing output and 40 per cent of exports.
'Without reviving employment, consumer confidence will not go up.'
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
'The way opposition parties such as the Nationalist Congress Party, Shiv Sena, the Samajwadi Party, Rashtriya Janata Dal and the Jharkhand Mukti Morch have supported her, if she wins, she will be the biggest opposition face for 2024'
When Nitin Gadkari was president of the Bharatiya Janata Party, the party had announced it would set up a separate ministry for handlooms and handicraft. Instead of doing that, the BJP government has abolished the only institution that took into account the voice of the weavers.
According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level.
The government on Friday proposed setting up a Rs 5,000 crore venture fund with SIDBI to enhance availability of equity to micro, small and medium enterprises.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
The government, in collaboration with the UN-body World Intellectual Property Organisation (WIPO), has commissioned a study to ascertain whether India's small and medium enterprises (SMEs) are prepared to adopt the global IPR regime.
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