Videocon group has signed an agreement with West Bengal government to set up a steel plant and a power project in the state with total investment of about Rs 15,000 crore.Videocon, which already has interests in oil and gas, plans to establish a three million tonne steel plant and a 1,200 MW thermal power project in Asansol-Durgapur area in Burdwan district.
In a pre-budget meeting with Finance Minister Arun Jaitley, the experts suggested timely implementation of the BJP's election manifesto promises to fix higher support prices. They also favoured a Kissan TV channel, an efficient procurement policy, priority for farm mechanisation and the linking of rivers.
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
The government said on Monday it expected an investment of Rs 22,500 crore (Rs 225 billion) over the next five-six years in a proposed Special Economic Zone for manufacturing renewable energy equipment.
Excise duty cut to boost Polymers sector.
Mumbai Indians spent Rs 15.25 crore to get Ishan Kishan back in the squad.
President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
Fidelity India Special Situations Fund is the latest offering from Fidelity Mutual Fund
It also expects to get its REIT listed on the Singapore stock exchange next year.
A tweet in Malayalam by Sheikh Mohamed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai, soon after his meeting with Kerala Chief Minister Pinarayi Vijayan in the Emirates, has gone viral on social media as several expatriate Malayalis shared it on their virtual platforms.
On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing 4 crore shares at Rs 4,500 apiece. According to a postal ballot notice by the company, Tata Sons and TICL intend to participate in the buyback offer. Tata Sons, which holds about 266.91 crore shares, intends to tender 2.88 crore shares, while TICL (which holds 10,23,685 shares) intends to tender 11,055 shares, it added.
The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL). The approval by the Cabinet will enable the sale of the government's 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
The adjudicating authority of the Enforcement Directorate ED has adjudicated a show cause notice issued to Amnesty India International Pvt Ltd (AIIPL) and its CEO Aakar Patel for contravention of the provisions of Foreign Exchange Management Act and imposed a penalty of Rs 51.72 crores and Rs 10 crores respectively on them, the probe agency announced on Friday.
If foreigners need reasonable taxes, why offer citizens something else? If foreign businessmen look for assurance on the rule of law, so do citizens, argues T N Ninan.
Three weeks after taking over, Prime Minister Narendra Modi will travel to Bhutan on Sunday on his first foreign visit to demonstrate the "special token of friendship" for the country.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Britain said it had imposed asset freezes on Chelsea soccer club owner Roman Abramovich
Suspended Jharkhand IAS officer Pooja Singhal was paid "commission" by subordinate staff from MGNREGA funds of Khunti district which she and her husband subsequently utilised for acquiring various properties, the Enforcement Directorate (ED) claimed in a statement on Wednesday.
'India today has to fight many a battle, all of which cry out for innovation. This is where the experience of the Diaspora could be the most productive well-spring.'
Ahead of talks with the Telangana government over his investment plans, chairman of the Kitex group Sabu Jacob, who has backed out from a Rs 3,500 crore project in Kerala, on Friday said he was not leaving his home state on his own, but was being "hounded out".
Tax deduction limit up Rs 50K for investment in pension fund.
Shares of Adani group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 per cent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have holding in some of these firms.
Anil Dhirubhai Ambani group chairman Anil Ambani on Saturday committed to set up a Special Economic Zone in Chennai and also invest Rs 12,000 crore for a 1,000 MW power plant, IT Park and desalination project.
Amazon violated FDI norms, allege Future Retail independent directors.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
Talk to your partner for at least ten minutes in the morning and then again when you get back home. In between, keep exchanging texts and brief calls, suggests Ravi Mittal, CEO, Quack Quack, an online dating app.
The 39-year-old was arrested by the Enforcement Directorate from Ranchi after the agency conducted multi-city raids against him, Singhal, her businessman husband Abhishek Jha and others, on May 6.
Russia President Vladimir Putin on Monday described India as a great power, a friendly nation and a time-tested friend and echoed common concerns over terrorism, drug trafficking and organised crime as he held wide-ranging talks with Prime Minister Narendra Modi.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
People can make purchases for the festivals on Sunday, when the curfew has been relaxed from 8 am to 5 pm, they said.
While Sunak has maintained a dignified silence over the recent crisis, his supporters have not lost any opportunity to point out how the former finance minister had got the economic forecasts right.
As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
The government is working towards further review and simplification of the foreign direct investment (FDI) policy to facilitate the proposed initial public offering (IPO) of the Life Insurance Corporation (LIC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Thursday. The final decision will be taken by the Cabinet. The industry department is working together with the finance ministry's department of financial services (DFS) and department of investment and public asset management (DIPAM) towards a successful listing of the life insurer on the domestic bourses, which is expected to be the largest in India.
Two elderly Chinese aerospace experts are hospitalised after a violent attack by a 'Princeling', states Jayadeva Ranade, the distinguished China expert and retired RA&W officer, highlighting the power the 'Princelings' ironically hold in the Communist People's Republic.
An alert has also been sounded along the border and a high degree of vigilance is being maintained at vital installations in Jammu and Kashmir in view of the visit, they said.
A lot of mid and small-caps are in the bubble zone and command high valuation and have corrected sharply.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
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