Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in Adani group of companies, the finance ministry said on Monday. In a written reply to a question by Congress' Manish Tewari, Minister of State for Finance Bhagwat Karad said Life Insurance Corp (LIC) held Rs 35,917.31 crore in debt and equity of Adani group of companies as on December 31, 2022. This is 0.97 per cent of its total assets under management (AUM) of Rs 41.66 trillion.
The central government has mandated all ministries, public departments and public sector units to use the telecom services of State-run Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL).
United States President-elect Donald Trump's plan to overhaul the government with a new department headed by tech billionaire Elon Musk and Indian-origin entrepreneur Vivek Ramaswamy will be a biggest threat for China as it has to compete with far more efficient US political system, a policy advisor to the Chinese government said.
'India needs many more job creators, both in manufacturing and services, to make it big.' 'For that, the red carpet must be rolled out fully and for all investors without holding back,' suggests Nivedita Mookerji.
The aim of a green building design is to minimise the demand of non-renewable sources and maximise its utilisation.
A majority of fixed income investors expect the fiscal deficit to stay close to the government's target of 5.5 per cent or lower in the year to March 2011, according to a Fitch Ratings survey of money managers at asset management companies, life insurers, pension funds and banks.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Angry Congress, Samajwadi Party and Left party members on Thursday stalled Question Hour in Lok Sabha for about 15 minutes.
The government on Wednesday notified its decision to permit 100 per cent foreign direct investment (FDI) under automatic route in the telecom services sector. In a press note, the Department for Promotion of Industry and Internal Trade (DPIIT) said foreign investment in telecom services will be subject to the condition of Press Note 3 of 2020. Accordingly, cases requiring prior government approval under the provisions of Press Note 3 will continue to be in place.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
An Asscocham survey reveals that middle-rank employees in public sector units, foreign embassies and academic institutions are satisfied with their jobs driven by limited accountability.
The public sector unit had borrowed Rs 7,500 crore (Rs 75 billion) in the last one month to pay the government for acquiring 3G and Broadband Wireless Access spectrum in the two metros of Delhi and Mumbai.
The Union Cabinet had last week decided to disinvest 10 per cent of its holding in the world's largest coal producer.
Labour unions on Monday threatened to go on a lightning strike the day government invited bids for privatising highly profitable oil public sector units HPCL and BPCL.\n\n\n\n
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
Maoists on Saturday called for a 48-hour bandh in five states from May 18 to protest against a slew of decisions taken by the Centre, including those concerning some public sector units. The bandh call has been given in Bihar, West Bengal, Jharkhand, Orissa and Chhattisgarh."Maoists will observe a bandh on May 18 and May 19 in the five states to protest against the Centre's decision to sell ten per cent government's stake in 10 profit-making PSUs,"Maoist leader Kishenji said.
'There is a difference between a politician and leader.' 'A politician will have his pound of flesh first and do everything else later.' 'A leader will sacrifice everything to help people.'
We have millions of newbie investors who are clueless about how to handle sudden and severe adverse market reactions, which arrive from time to time, observes Debashis Basu.
The LDF government -- which has negotiated a series of crises in the form of natural disasters to the Covid pandemic -- cannot turn a blind eye to the accumulated debt of the state that now exceeds Rs 3 trillion and the need for more jobs, investment and industry.
Banks have approached Reserve Bank of India with a proposal for allowing them to provide doorstep cash delivery services to individual customers.
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its vice chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks' bad loan woes will do a good job like the UTI. Days after Finance Minister Nirmala Sitharaman announced the Union Budget for 2021-22 laying out various measures (including disinvestment proposals) to bolster the pandemic-hit economy, Kumar also emphasised that the Modi government has shown consistent commitment for the welfare of farmers and for the improvement of the agriculture sector. "Now the process has begun... We will complete preparation of the next list in the next few weeks, we have got the marching order," Kumar said about the list of public sector companies for the next round of stake sales.
Coal India Ltd, Steel Authority of India Ltd, Bharat Heavy Electrical Ltd and Oil and Natural Gas Corporation were among the 15 top PSUs, which went about head hunting at the IIM-L. CIL and SAIL recruited 12 students each. "Out of the total of 267 IIM-L students graduating this year, PSUs recruited 65 students," IIM-L Placements Chairman Sushil Kumar told the media in Lucknow.
'An in-house contest encourages employees to share yoga and well-being practices with their families.'
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
'... and without necessarily calling them Economic Surveys.' 'One should stick to the main focus, which is to give people a good perspective on how the economy is doing.'
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
The Comptroller and Auditor General of India on Friday criticised the previous National Democratic Alliance government for undervaluation of a number of public sector units, including Balco and VSNL, where equity was divested.\n\n
India is one of the largest defence importers.
The petroleum ministry on Wednesday pledged support to power firm NTPC in its legal battle to get natural gas from Mukesh Ambani-led RIL at a price committed in 2004 and said the public sector unit's interests will not be compromised.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
The three-day India Mobile Congress (IMC) will showcase the widening convergence of telecom with new domains, such as semiconductors and deep tech, P Ramakrishna, the forum's chief executive officer, said on Tuesday. With more than 250 global and domestic exhibitors, the seventh edition is expected to draw more than 100,000 visitors this year, he said. There will also be over 5,000 CXO-level delegates and more than 350 speakers.
India grew at 6.7 per cent in 2008-09. For the current fiscal 2009-10, the Economic Survey projected a 7 per cent growth rate plus/minus 0.75 per cent.
The Budget to be presented in the first week of July is likely to spell the intention of the government to disinvest, but may not give the clear picture on the time-frame and other details on the policy structure, the source added. The exact roadmap for disinvestment will include the extent and coverage of disinvestment, categories of companies -- Navratnas, mini-navratnas or sick companies -- to be included in it.
