'We have close to 30 per cent share of the Indian public cloud market'
The use of RBI capital to strengthen public sector banks will have many positive implications for the economy -- and a few manageable downsides, points out R Jagannathan.
While companies claim to have taken steps including adding additional manpower, using artificial intelligence and machine learning, to counter spread of fake news, the government has found these measures unsatisfactory.
Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
The Centre has received Rs 6,651 crore as interim dividend from 12 public sector undertakings (PSUs) on Monday, edging towards its Rs 50,028 crore dividend target for the ongoing fiscal. Power Grid Corporation of India (PGCIL) has transferred Rs 2,506 crore as a dividend tranche to the government, while NMDC and Nuclear Power Corporation of India transferred interim dividend of Rs 1,605 crore and Rs 972 crore, respectively. The government has received dividend tranches of Rs 913 crore from GAIL, Rs 351 crore from Hindustan Aeronautics, Rs 149 crore from Bharat Electronics, among others, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted.
NPS is a cost-effective instrument with low fund management and other fees. Unlike in mutual funds, investors get the benefit of tax-free rebalancing here.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
The Australian government invites applications for its Australian Leadership Awards.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
What is most troubling is that not a single party that is part of INDIA has talked about any kind of reform and economic sense, argues R Jagannathan.
It would certainly help if in the first five or ten years the new state had a Telangana United Front government which included all political parties and which then would dedicate itself to bringing about fast development for the neglected region, says Gautam Pingle in the final part of a two-part series on the new state.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
The Bharatiya Janata Party rejected this was any sort of demonetisation and instead reminded the Congress that even during the rule of Manmohan Singh, old currency notes were taken off circulation.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
Mihir S Sharma on the false opposition being created between 'governance' and 'vote bank politics'.
More important is to diversify the country's farm production base.
"My heart is full of pain and anger," he told reporters in his remarks ahead of Parliament's Monsoon Session, amid his criticism by opposition parties for not speaking on the ethnic violence in the north east state.
He claimed even the media is debarred from entering the secretariat and reaching out to the chief minister and thus changes need to be made in the governance model in Odisha.
Debates on changing the name of India to Bharat continue to spark a crisis of identity without answering moot questions that stare us in the face. Ramesh Menon asks a few of those questions that do not have easy answers.
The prime minister had openly said the retail sector should be open to competition, domestic and foreign.
'Chasing sectors which have reported strongest earnings is not always the right strategy for outperformance.'
Biggest challenge is to control fiscal deficit
Sebi might come out with a regulatory framework for issuance of 'green' bonds
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
In its report, the panel asked it to 'enlighten it' whether the term 'central government' or 'Union government' was used at the time of framing of the Constitution.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
'As CIC, you have the power to comment on policy matters. 'If you have very strong beliefs and you know your rulings will be reported, you will express your beliefs.'
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
Following are the highlights of the Economic Survey 2022-23 tabled in Parliament on Tuesday
The Universal Immunisation Programme is one of the largest vaccination projects in the world aimed at protecting children and pregnant mothers from preventable diseases. Under it, the government provides shots for 12 vaccine-preventable diseases, such as polio, diphtheria, tetanus, measles, and hepatitis B, for free.
'Disparity is not only in Mumbai; you see it in every city. The other day, I saw right next to the mansion of Mukesh Ambani worth Rs 5,000 crore for one family, thousands of people sleeping on the pavement. This is the urban India you have created!'
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
'We cannot forget that Pakistan is a criminal State, it is a rogue State and yet we want oil pipelines to go through their State, we want to have people-to-people contact, want to increase trade with them.' 'When Modi was prime minister-elect, he said there can be no dialogue in the face of bombs and bullets. After becoming prime minister, he is saying talks will continue. Was he then misleading the public then or is he misleading the public now?' 'Nobody goes around abusing China. The fact is China is a great power. I do not think India is a great power. People spit on our face and we still go grovelling before them.'
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