Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
The domestic telecommunications sector is likely to get an additional $40 billion in investments by end of 2010, of which $15 billion would come in by the end of 2007.
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
The US on Friday issued orders to ban popular Chinese social media apps TikTok and WeChat from Sunday to safeguard national security, weeks after India banned them, saying they were prejudicial to sovereignty, integrity and security of the country.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
The telecom companies have also been asked to urgently improve their infrastructure, as the government aims to digitise a host of services.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The number of smartphones booked during the initial hours was 30,000.
BSNL is providing telecom services in remote parts of the country and maintaining 17,000 to 18,000 exchanges, incurring Rs 3,000 to Rs 4,000 crore losses every year. Otherwise, these villages will be cut off.
Do Sardars feel bad about Santa Banta jokes on them? If so, the Supreme Court on Monday said it will seriously consider examining a plea to ban websites displaying jokes on them.
However, that could only be for sectors where 100 per cent FDI is allowed under the automatic route and pose no risk to national security.
It aims to attract $100 billion investment and create 4 million jobs in the sector by 2022.
Bharti Airtel, the country's largest mobile operator, has already joined the global Seamless Alliance to provide in-flight connectivity.
The regulator added that a split auction of 2100 MHz, used for 3G services, will 'artificially increase the market price of 2100 Mz in February 2015 (auction) because of the severe supply constraint'.
The judgment in the 2G case is a huge, huge, indictment of the criminal investigation and justice system, says R Jagannathan.
The government will set up a centre of excellence for visual effects and gaming with help from the Indian Institute of Technology-Bombay.
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
The push to connect India and drive a national fibre optic network, first approved by the last government in 2011, has made slow progress
Rediff.com gives you a lowdown on the net neutrality issue that is today part of the national discourse.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
The controversial report of the JPC, which gave a clean chit to Prime Minister Manmohan Singh in the 2G spectrum scam saying he was "misled" by the then Telecom Minister A Raja, was on Monday tabled in Lok Sabha amid pandemonium.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Eminent rocket scientist S Somanath has been appointed as the chairman of the Indian Space Research Organisation as well as the space secretary, a personnel ministry order issued on Wednesday said.
A brief report card on Modi's ministers.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
Chinese equipment contracts had been given by many public sector undertakings and government companies for their networks, even in sensitive places such as the north east.
The ministry of corporate affairs - under new minister Murli Deora - has reopened for further investigation the cases of two companies allegedly involved in the unravelling 2G scam. A senior official said that the ministry was currently probing Swan Telecom and Loop Telecom.
It is learnt that the defence ministry is refusing to let go of its 100 MHz spectrum, which was allotted earlier. In that case, the department of telecommunications (DoT) will be left with only 175 MW of 5G spectrum of the total 300 MHz.
A panel headed by Economic Affairs secretary Arvind Mayaram had suggested FDI limit be raised to 49 per cent in almost all sectors through the automatic route.
IAMAI in a statement, which represents digital businesses in India, said Trai's recommendation to formulate standards of anonymisation and de-identification was akin to putting the cart before the horse, and till such time the Srikrishna Committee submits the report, making these standards would be like groping in the dark.
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
DoT has sought "necessary details" from the Finance Ministry to take action in this regard.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
The telecom industry, with a cumulative debt of around Rs 2,75,000 crore (Rs 2,750 billion), has been mired in various controversies, besides facing intense competition, low tariffs and falling margins.
PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
Importers will now have to provide sufficient proof to the domestic customs authorities that the goods being imported have a minimum 35 per cent value addition in the country from which it is being exported to India.
As the digitisation drive enters its second phase, the I&B ministry has asked telecom regulator to come up with measures to control monopolies in the cable TV.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
Supreme Court ruling on Presidential Reference a booster, it says.
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