Investment in infrastructure was necessary for the economy, as power shortages, inadequate transport and poor connectivity affect overall growth performance, as per the Economic Survey 2019-20 tabled in Parliament by Union Finance and Corporate Affairs Minister Nirmala Sitharaman. "To achieve GDP of USD 5 trillion by 2024-25, India needs to spend about USD 1.4 trillion (Rs 100 lakh crore) over these years on infrastructure so that a lack of infrastructure does not become a constraint to growth," it said.
Finance Minister Nirmala Sitharaman on Monday presented the Budget for 2021-22 in the Lok Sabha that is expected to provide relief to the pandemic-hit common man as well as focus more on driving economic recovery through higher spending on healthcare, infrastructure and defence amid rising tensions with neighbours, As India emerges from the COVID-19 crisis, the ninth Budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'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.'
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
India has an urban housing shortage of about 18.7 million units, with 95 per cent of this shortfall in the low-cost housing segment, and 43.7 million in the rural belt.
India Inc is encouraged by a determined Budget.
'The government wants foreign companies to capture the insurance market.'
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
Additional infrastructure for dining rooms in each of the school has been recommended.
'To represent one's country at the biggest stage is what drives us.' 'My goal is to reach the Olympics. So, Beijing 2022 it is!'
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
Nitish Kumar has to eschew disastrous experiments with prohibition and reservations in the private sector. Unless he is dissuaded from pursuing these flawed measures, he will pave the way for Bihar to again become a part of the BIMARU group of sick states, says Amulya Ganguli.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
'Modi's recent decisions to improve India-China relations, adjust India's neighbourhood policies and to rebalance India's ties with the major powers are linked to his political agenda.' 'Of course, the good part is that this agenda is also in the national interest,' says Ambassador M K Bhadrakumar.
NDA government has shunned populism.
The industry's reactions to the Budget have been mixed.
We all need an expert whose advice you can trust, who will not start pushing products at you and rather help you understand why your wealth is not growing as it should, says Erik Hon.
The view is that the attention on the national team is fleeting, incidental and dependent on the results they produce.
Biden's proposal also sets aside USD 20 billion for a national vaccination programme and USD 50 billion to scale up coronavirus testing.
Before you start planning for taxation, you must understand that at the end of the day, it is just another investment you are making.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Nitin Desai suggests some concrete measures to revive investment and boost growth.
The manifesto proposes to launch a Sagar Mala project to set up new ports and upgrading the existing ones and "stringing them together".
The session started on January 29 and was originally slated to end on April 8 but several members had urged Speaker Om Birla to end the session earlier as they focus on electioneering for the five assemblies.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
His comments came in the midst of the disengagement process between Indian and Chinese armies in Pangong Tso areas in eastern Ladakh where the two sides have been locked in a nine-month standoff.
To attract bidders, the government had decided to hive of around Rs 35,000 crore of the company's debt into a separate subsidiary, leaving around Rs 23,286 crore to be absorbed by the new bidder.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
NHAI expected to be debt-free by 2030-31 and added the authority, which raised about Rs 14 billion (Rs 1,400 crore) in 2009-10 through capital gains tax exemption bonds, planned to mobilise Rs 40 billion (Rs 4,000 crore) in the current financial year.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Sheridan and Waldron will stand in a match between Tea Tree Gully and Northern Districts in Adelaide featuring Australia's vice-captain Travis Head.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
22 companies won bids for the 31 contracts on offer; 15 were new entrants to the oil and gas business. Three years on, none of them have started production.
Sensex zooms 200 points in Muhurat trading, Nifty regains 7,800.
SBI remains a favourite of most brokerages in the PSB segment.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
During Al Nahyan's three-day visit, his first to India, the two countries will discuss ways to enhance ties in a range of areas including energy, economy and security and are expected to sign a number of agreements in sectors like oil nuclear energy, IT, aerospace, railways and electronics.
There is a case for analysing the fiscal deficit, separately for expenditure and investment.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
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