According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The share of public sector undertakings (PSUs) in the total market capitalisation of listed companies--at an all-time low of 10 per cent currently --- may get a leg-up from the government's divestment push. Recently the government announced the successful sale of national carrier Air India to Tata Sons, India's first privatisation of a PSU since 2002-03. The transaction is expected to be completed by December.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
Our government has failed the country on several counts. All this must change for India to redeem itself in six months, says Naushad Forbes.
India tops the world with 11% of global deaths in road accidents while we have only 1% of the world's vehicles.
Solicitor General Tushar Mehta, appearing for the Centre, assured the court that everything is under consideration.
West Bengal signed an MoU with the Centre for jointly implementing Ayushman Bharat but so far officials have received no word about how it will be done and the deadline is almost here.
'As a donor, you may think you are saving one life. But you touch the lives of the entire family and community associated with the person. And it only cost you a few hours of your life.'
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
'The government is abdicating its responsibility on healthcare.' 'Just to start this scheme, it will take a minimum till October 2018 and elections are coming in 2019, so before that this can go into the dustbin.'
Terming coronavirus as a big health crisis before humanity, Madhya Pradesh Chief Minister Shivraj Singh Chouhan on Thursday said the only way to break the chain of transmission and contain COVID-19 cases is for people to 'close down everything' till May 15.
Launching a scathing attack on Harris, the Trump campaign said the Americans will resoundingly reject the absymal failures of Biden and Harris. 'Joe Biden is no moderate, and with Harris as his 'political living will,' he is surrendering control of our nation to the radical mob with promises to raise taxes, cut police funding, kill energy jobs, open our borders, and appease socialist dictators,' Katrina Pierson, Trump 2020 campaign's senior advisor, said in a statement.
Prime Minister Narendra Modi on Monday appealed to protesting farmers to end their agitation against the new farm laws even as he questioned opposition parties for their sudden 'U-turn' on the agriculture sector reforms.
'We would advise investors to invest in a disciplined way in equities for the long term.'
The decision to permit the third child came after this month's once-in-a-decade census showed that China's population grew at the slowest pace to 1.412 billion amid official projections that the decline may begin as early as next year.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
The National Digital Health Mission seeks to provide a unique health ID to each citizen who wishes to have one and also on-board the healthcare service provides - hospitals, pharmacies and diagnostic labs, among others. It will have an online database of doctors and personal health records.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
"India has given a stern signal to its enemies by conducting surgical and air strikes. This tells us that India is changing and can take the most difficult decisions and isn't reluctant to implement them," Prime Minister Narendra Modi said on Sunday in his Independence Day address to the nation.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
'Today we prove that our democracy still works and that the power always belongs to the people through the power of our vote'
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.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
The telecom regulator on Friday released a list of 40 "defaulter" principal entities, including large banks like HDFC Bank, SBI and ICICI Bank, that are not fulfilling the regulatory norms on bulk commercial messages despite repeated reminders. Hardening its stance on the issue, the Telecom Regulatory Authority of India (TRAI) warned that defaulting entities should comply with the stipulated requirements by March 31, 2021 "to avoid any disruption in the communication with customers" from April 1, 2021. "As sufficient opportunity has been given to principal entities/ telemarketers to comply with the regulatory requirements and that the consumers cannot be deprived of the benefits of the regulatory provisions any further, therefore it has been decided that from April 1, 2021, any message failing in the scrubbing process due to non-compliance of regulatory requirements will be rejected" by the system, TRAI said in a statement.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
To maintain dignity of the House, government was forced to place this proposal of suspension, minister Pralhad Joshi said
While the benefits offered by the new-generation products are alluring, choose a plan that offers features you may actually need in the future
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Companies think they are too big to bow before regulators.
The final agriculture GDP numbers for 2016-17 are expected to be revised up, as rabi production is looking really good.
"We suspended the deal as a simple preventive measure, since there are complaints that could not be explained well by the complainant, so we opened a preliminary investigation last week," said Rosario, head of the Federal Comptroller General.
The National Commission indicted LIC for working in cahoots with doctors for baseless certificates to repudiate claims and held this to be an unfair practice.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
To date, USAID has provided $5.9 million to assist India in responding to the COVID-19 outbreak.
The pugilists were due to start training later this month or early in August after the Boxing Federation of India got the SAI nod to conduct the national camp amid the pandemic.
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