The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
In an emotionally-charged letter to the 22,000-strong employees, Goyal said the approval of the debt-recast plan will put the carrier on a "sounder and sustainable" financial footing.
Modi, who met the ministers-designate, said people have huge expectations and everyone will have to deliver, sources said.
The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
'When we get justice we will stop the protest.'
Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.
The e-mail, detailing the points which were discussed and agreed upon between the two sides and also those which weren't, was sent as per the state's requirement based on which the government is expected to issue directives, the doctors said.
Defence Minister Rajnath Singh, Maharashtra Chief Minister Eknath Shinde, Bahujan Samaj Party supremo Mayawati, and Shiv Sena-Uddhav Balasaheb Thackeray were among the famous faces who queued up at the polling booths on Monday to caste their votes in the fifth phase of the Lok Sabha elections.
Bhandari, a three-term Congress legislator who was also a minister in the state in the past, joined the BJP in the presence of its senior leaders, including Union Minister Piyush Goyal and the party's national general secretary Dushyant Kumar Gautam.
The second round of talks between junior doctors and officials of the West Bengal government failed to break the medics' strike over the RG Kar issue, following the state's refusal to give written minutes of the meeting, the doctors alleged.
The Railway Board has decided to wind up the ambitious Rs 5,000-crore One ICT plan and the transformation cell
Goyal wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, was incurring such huge losses adding that it needs to be looked into.
As many as six who hold law degrees include cabinet ministers Nitin Gadkari, J P Nadda, Piyush Goyal, Sarbananda Sonowal, Bhupender Yadav and Kiren Rijiju.
The interim finance minister said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.
BJP leaders Manohar Lal Khattar, Shivraj Singh Chouhan, Bandi Sanjay Kumar and Ravneet Singh Bittu may be among the new faces in the Union council of ministers which will be sworn on Sunday evening along with Prime Minister-designate Narendra Modi.
The Delhi Police on Tuesday filed its 500-odd page charge sheet against Chief Minister Arvind Kejriwal's aide Bibhav Kumar in a case of alleged assault against Aam Aadmi Party MP Swati Maliwal.
Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
Goyal said India has been recognised as brightest spot in the world in last five years.
Congress leader K C Venugopal and Dravida Munnetra Kazhagam's T R Baalu walked out of Defence Minister Rajnath Singh's office, refusing to endorse NDA candidate Birla without being offered the Deputy Speaker's position.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
Union Minister Piyush Goyal on Friday sought an apology from the Congress for the controversial statement by party MP that suggested a call for a separate south nation over fiscal injustice, but the opposition party's president said it stands for a united nation and will not tolerate any such call.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
Following a meeting with the medics, she claimed that talks were "fruitful" and nearly "99 percent of their demands have been accepted", Banerjee said.
The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways chief executive officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
Etihad wants to control a domestic carrier that can give it access to over 45 cities in India from where it can bring traffic to its hub in Abu Dhabi and beyond.
The Department for Promotion of Industry and Internal Trade (DPIIT) has proposed to raise the minimum local content under public procurement order in government contracts. But several local suppliers and multinational companies (MNCs) are saying such a steep target is not attainable. Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent, while it may go up to 50 per cent from 20 per cent for Class-II suppliers.
The only occasion when the BJP had 100 seats in the Upper House was in 2022.
'Although there is a visible dent in TMC's urban votes, especially among women, the CPI-M and the BJP are unlikely to benefit from this'
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
Most members of the Reserve Bank of India's monetary policy committee (MPC) decided to stick to the course on bringing retail inflation to the target of 4 per cent while voting for maintaining status quo in the April review, except external member Jayanth Varma who voted for a 25 bps cut in the repo rate. "I believe that the extant monetary policy setting is well positioned," RBI governor Shaktikanta Das said in the minutes of the policy review, which came out on Friday. "Monetary policy transmission is continuing and inflation expectations of households are also getting further anchored.
Sekhar Roy was summoned by the police in connection with a social media post he made over the alleged rape and murder of a doctor at RG Kar Medical College and Hospital.
Foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year, Commerce and Industry Minister Piyush Goyal said on Monday. He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22. "India has received the highest ever FDI inflow in 2020-21. "It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020," he said while addressing a meeting of different industry associations on promoting exports.
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.
A panel of Union ministers held a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including a legal guarantee of MSP, as thousands of protesting farmers camped at the Punjab-Haryana border.
Speaking at a joint rally of Mahayuti partners in Mumbai, Bharatiya Janata Party leader and deputy Chief Minister Devendra Fadnavis supported Shinde's claims, stating that the NDA leaders did not pay enough attention to the lies spread by the Opposition during the campaign.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
Amid a debate on the basis of a monetary policy stance, one may be curious enough to know how non-food retail inflation has behaved over the years in India. Let the eager souls catch a glimpse of facts. In the past 10 years, non-food inflation came down below 4 per cent on two occasions - pre-Covid period of 2019-20 and now in the first four months of the current financial year (FY25).
'There's significant interest from both existing and new sponsors who recognise the value of associating with Olympic athletes.'
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