Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign to make India a global manufacturing hub, create jobs and boost economic growth.
It's certainly not the way the world' s largest retailer would have wanted to enter India. But it's nonetheless a turning point for the Indian retail market.
We are already seeing pressure of inflation, we also seeing slowdown in manufacturing, hope excise rates are not increased because that will get passed to the consumer.
A home in Mumbai or Delhi or one in New York? Or perhaps one in London or Dubai? Take your pick because they all now cost nearly the same.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
Telecom tariffs are likely to come down further with the Telecom Regulatory Authority saying on Wednesday that it would recommend lower access deficit charge
Assocham told Modi policy makers needed to act fast to "bullet proof" India from global jitters.
As the WEF summit draws to a close on Saturday, a few big names from India including Mukesh Ambani and Anand Mahindra were missing in action while Pakistan Prime Minister Nawaz Sharif and Jordan's King Abdullah II were among global leaders who cancelled their trips at the last moment.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
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Reliance, Birla Group, Airtel eye small finance banks.
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
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