Public investment is very crucial for GDP growth, says finance ministry.
India's first indigenously developed quadrivalent Human Papilloma Virus (HPV) vaccine for the prevention of cervical cancer will be launched in a few months and made available to the people in an affordable price range of Rs 200-400, Serum Institute of India CEO Adar Poonawalla said on Thursday.
The Union finance ministry on Thursday issued a clarification on the changes in FEMA rules which brings overseas international credit card spending under the RBI's liberalised remittance scheme (LRS). Here's how it affects you.
GSOMIA does not cover the exchange of classified information with Indian private industry. Washington wanted this covered too, given New Delhi's emphasis on the proposed 'strategic partnership' model of procurement.
The demand for affordable housing is 535,400 units.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
In January, Visa's chief executive officer, Al Kelly, said during an earnings call that "there's been a burst of the balloon in valuations in the fintech world". Noting that the trend of lower valuations "is a helpful characteristic of the current environment", he added: "We will look for capabilities and management teams that will bring more value to Visa than we can bring ourselves." Data from KPMG's Pulse of Fintech H2'22 shows that global fintech investment - via mergers and acquisitions (M&As), private equity (PE) and venture capital (VC) firms - at $164.1 billion in 2022, was down 31 per cent over the year before. Indian fintechs held up better during this timeframe, attracting $6 billion, or a fall of 24 per cent.
Will the low cost Israeli Athos gun scuttle India's ATAGS gun?
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
Mortgage firm HDFC Ltd on Wednesday announced sale of a 10 per cent stake in its private equity arm HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by $3 billion-HDFC Capital. Set up in 2016, HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Funds 1, 2 and 3; and is aligned with the government's goal to increase housing supply and support the Pradhan MantriAwas Yojana - 'Housing for All' initiative, HDFC Ltd said in a statement.
Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday. This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
Bharti group-backed OneWeb and New Space India Limited, the commercial arm of the Indian Space Research Organisation, have entered into an agreement that will help ensure OneWeb completes its satellite launch programme. The first launch with New Space India is expected in 2022 from the Satish Dhawan Space Centre (SDSC) SHAR, Sriharikota. The launches will add to Low Earth Orbit (LEO) satellite communications firm OneWeb's total in-orbit constellation of 428 satellites -- 66 per cent of the planned total fleet -- to build a global network that will deliver high-speed, low-latency connectivity.
Government contemplates tax incentives for housing projects.
In the current fiscal, as per the revised estimate, these two companies raised Rs 14,942 crore (Rs 149.42 billion) from markets.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner - Reliance Industries. Campa's entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
As Prime Minister Narendra Modi embarks on a tour of three European nations, India on Sunday once again called for the cessation of hostilities in Ukraine and resolution of the conflict through dialogue and diplomacy, noting that was an appreciation of its position on the crisis by its partner countries.
Govt to chalk out entry of sovereign funds from Abu Dhabi, Qatar into such projects.
In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
The AAP claimed that Sisodia would be arrested on Monday and alleged the move was initiated in view of the forthcoming assembly elections in Gujarat where it is in a direct contest with the BJP.
The Railways could tie up with technical institutions for introducing railway-oriented subject for graduation and skill development.
In a late night development, chairman of the state-run Airports Authority of India, V P Agarwal, was removed from his post apparently because of his "opposition" to privatisation of more airports in the country, sources said.
Despite public-private partnership projects announced in several rail budgets, the investment since 2000 has been merely Rs 3,000 crore.
Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra's French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC). As part of the deal, Purple, a fully-owned entity of Mutares Holding, would invest 7 million euros in PMTC, which would entitle it to a 50 per cent shareholding and 80.01 per cent voting rights in the French firm.
Priorities include the amendments of the Companies Act and the Motor Vehicle Act
According to the guidelines approved by the government, 100 per cent FDI can be utilised in facilities like cleaning up trains and installation of bio-toilets in passenger coaches and setting up of mechanised laundry services.
According to sources, Kavitha was to be made to sit face-to-face with Hyderabad-based businessman Arun Ramchandra Pillai, who was arrested in connection with the liquor policy case on Monday night.
RSS-aligned Bharatiya Mazdoor Sangh (BMS) on Monday expressed disappointment over the government's budget proposals with regard to divestment and foreign direct investment, especially in the insurance sector. The BMS, however, lauded the government for its current efforts on the massive vaccination programme, a special scheme for tea workers in West Bengal and Assam, labour oriented push on infrastructure projects in construction sector and development of five major fishing harbours viz. Kochi, Chennai, Visakhapatnam, Paradip, and Petuaghat as hubs for economic activities etc. On other Budget proposals, it said in a statement that "mixing the beautiful concept of Aatmanirbhar Bharat with FDI and disinvestment in the Union Budget is disappointing for the employees".
A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms.
The overriding objective of the National Investment and Infrastructure Fund (NIIF) must be adequate economic return, not financial return.
The CBI action came a day after the agency filed its second charge sheet in the case alleging that former director general (state armed police) and Trinamool Vice President Rajat Majumdar and East Bengal Club official Debabrata Sarkar were beneficiaries of the money collected through chit fund scam.
The job placement rate for students trained by NIIT in China is over 90 per cent.' A revealing excerpt from Saibal Dasgupta's Running With The Dragon: How India Should Do Business With China.
The BrahMos export order would be the biggest for the country in this field and is likely to propel India amongst arms exporting countries as more orders for the missile are expected from other friendly countries.
A parliamentary panel on Tuesday opposed the privatisation of six AAI-developed airports including Kolkata and Chennai, and charged the Civil Aviation Ministry with doing "a great disservice" by "using public property for private profits".
Privatisation is still regarded as beyond the pale but public-private partnerships have gained in popularity.
Engineering Export Promotion Council (EEPC) of India has urged the Centre to extend lower corporate tax benefit to Limited Liability Partnerships (LLPs) and proprietary firms as it would make funds available with MSMEs and boost private investment cycle. A body of direct tax professionals also sought for reduction of tax burden on individuals and requested the government to raise the income tax exemption limit at Rs 2.5 lakh to Rs 4 lakh per annum in the upcoming budget for 2022-23 fiscal. EEPC India chairman Mahesh Desai claimed around 84 per cent of small businesses are being denied the benefit of lower corporate tax which was aimed at providing industrial units with more investible surplus.
Echoing similar views, CII too said the Prime Minister has given high importance to manufacturing and investment.
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
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