The IPO-bound national insurer LIC is not only the largest holder of government debt -- owning 19 per cent of the G-secs -- but also the single largest owner of equities, the largest fund manger as well as holder of household savings, dwarfing even SBI deposits, as per a report. Holding 17 per cent of the over Rs 80.7 lakh crore dated government securities, maturing by 2061, the Reserve Bank is the second largest holder of government debt, while led by public sector banks, commercial banks collectively own around 40 percent. Other insurers cumulatively own only 5 per cent.
'Given the possibility that our unstable northern and western borders may become 'live' at short notice, any major systemic change which impacts combat effectiveness should be brought about in a cautious and progressive manner.'
The implementation of their recommendations means that an adequate apparatus to change this is at the disposal of the government.
The report said Zuma 'would do anything that the Guptas wanted him to do for them,' including firing competent ministers and senior officials at parastatal institutions, so that Gupta lackeys could be appointed to those positions.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The finance minister may stagger some of the recommendations.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
The Budget is remarkably coherent.
The primary market is set for a bumper Rs 80,000-crore bonanza with 30 companies already filing IPO papers to raise Rs 55,000 crore, while around 10 more are lined up for this month itself, seeking to mop up another Rs 25,000 crore, say investment bankers. The market has been on a non-stop rally, hitting new records almost every week, on the back of an influx of investors -- a vast majority of them first-timers -- coupled with a flood of liquidity. Foreign funds alone had pumped in a record $35 billion into the market in FY21, while the trend has continued this fiscal as well. Domestic institutions led by LIC have also infused trillions of rupees, helping woo retail investors in troves -- the year saw over 20 million new investors coming to the market.
'A buoyant market economy is one which is led by the innovation and imagination of private persons,' notes Ajay Shah.
Tamil Nadu's latest budget offers path-breaking initiatives and major boost for social infrastructure, which other state governments are sure to follow in the coming years, predicts N Sathiya Moorthy.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
Zomato's mega initial public offering (IPO) ended with a bumper 38 times oversubscription on Friday as institutional investors poured money to get a pie of the hottest online food delivery platform. Zomato got bids for 2,751.25 crore shares against 71.92 crore shares on offer, stock exchange data showed. The IPO is India's biggest since March 2020. Institutional investors, who shied away in the first two days of the IPO, bid several times over the number of shares reserved for them.
The National Democratic Alliance won 64 seats.
Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
'Welfare schemes are not a necessary evil, they are a necessary good.'
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Some experts says that the high net-worth requirement of Rs 50 crore for setting up an IU is a deterrent.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
The SME segment has been grappling with lack of liquidity and lacklustre institutional participation.
Last week, a Rajya Sabha committee had allocated five hours for discussion on GST.
Prime Minister Mahinda Rajapaksa became the only member of the family to retain a cabinet position in his younger brother Gotabaya Rajapaksa's new cabinet of 17 ministers appointed on Monday, as the island nation was facing the worst economic crisis.
'If some measures are implemented quickly, they can help revive growth.'
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
'There will be political opposition, and this monetisation will require continued political will.'
According to the draft, in the northeastern states the threshold is at Rs 500,000.
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Indian-American economist Arvind Panagariya has said that he is "honoured" to be appointed by Prime Minister Narendra Modi as the first Vice Chairman of the newly created NITI Aayog, which replaces the 65-year-old Planning Commission.
Reserve Bank Governor Raghuram Rajan on Friday said banking sector will see major changes in the coming years.
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
2015 is going to witness new agreements on climate change.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
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