Indeed, Prime Minister Narendra Modi, who as Gujarat chief minister was considered close to certain business groups and industrialists, has hardly been seen with any Indian business head.
'We will see a kind of disaster which the country has not seen in the last 100 years.'
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Economists and investors want RBI to retain independence in setting rates
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
Even as India's internet base continues to widen, with the country set to have over 900 internet users by 2025, a parallel rise in cyber threats has become a matter of huge concern. Experts say that the sudden surge in digital adoption left little time to develop a cybersecurity backbone for the country. This has put large amounts of data at risk.
Though Narendra Modi doesn't know it, he is a victim of this deep-rooted infection.
'When the government wants to sell these assets, even if one set of assets gets caught in any quagmire, the whole process will fail.' 'The entire world is watching us.'
The RBI wants to enforce more transparency in public sector banks. Manojit Saha The Apex bank wants the government t oreduce stakes in PSUs.
Making a case for an optimal fiscal stance, the Economic Survey on Friday said growth leads to debt sustainability and not necessarily vice-versa. "This is because debt sustainability depends on the 'Interest Rate Growth Rate Differential' (IRGD) i.e. the difference between the interest rate and the growth rate in an economy. "With the Indian context of potential high growth, the interest rate on debt paid by the Indian government has been less than India's growth rate by norm, not by exception," it said.
While Mercedes-Benz India expects 25 per cent of its India sales to come from EVs in the next four years, BMW says it estimates around 10 per cent of sales to come from those in the near future.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
'There are all sorts of characters moving around acting as unofficial representatives of the government and engaging in their own personal foreign policy initiatives. Clearly, the government needs to shut these characters down if it wants to continue enjoying any credibility, both domestically and internationally,' says Sushant Sareen.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
What does Udhayanidhi's induction as minister mean? For the DMK, it indicates the future course, direction and leadership. It is continuity with change, and change with continuity, points out N Sathiya Moorthy.
That AAP managed a sizeable vote share in Gujarat is creditable. The BJP can no longer ignore AAP's growing presence in its strongest bastion, explains Ramesh Menon, long-time observer of Gujarat politics.
'Now, we have a minimum pension of Rs 1,000 annually.'
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
'Let us not say that Modi has not delivered on anything; he has delivered something and in parts substantially, but he has to also deliver on a large number of his electoral promises.'
Every patriot should learn from our history and recognise that celebrating size will neither negate nor obscure the huge economic challenges that India faces, asserts Rathin Roy.
Wickremesinghe is the first Sri Lankan president to be elected by Parliament following a vote.
Ranil Wickremesinghe was on Wednesday elected as Sri Lanka's new President by Parliament, in a rare move that could provide continuity for ongoing discussions with the International Monetary Fund for a bailout for the cash-strapped nation but a development likely to anger anti-government protesters who have been demanding his resignation from office for weeks.
The implementation of the NEP and four-year undergraduate programme were approved by the Standing Committee on Academic Matters and the Academic Council last week.
The infrastructure space was one of the worst victims and things were at standstill.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
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.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
These smart cities should have the capacity to absorb, adapt and provide opportunities for both the poor rural migrants as well as the educated professionals, say Sujit K Pruseth & Sachi Satapathy.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
Poonawalla noted that reducing the timeframe would give "real relief" to the people who want to travel abroad.
A government for 1.25 billion people cannot be a one-man show. Collective decision-making must for good governance, says Virendra Kapoor.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
Bad management, an exhausted government vigilance mechanism, delay in roping in private players, relaxing norms, and over-dependence on antigen tests may be the reason behind the surge, reports Shine Jacob.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Seeking an interim stay of the high court's verdict, the plea filed through lawyer C K Sasi said that it has challenged the 'arbitrary and illegal action' of the Airports Authority of India in attempting to prefer a particular private concessionaire, Adani Enterprises Ltd, for the operation, management and development of Thiruvananthapuram International Airport.
'We will take tough calls where needed in the interest of doing what is right.'
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
The unions are opposing the government's move to take away the public debt management from the Reserve Bank and curtail its powers on the monetary policy.
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