Upbeat high-frequency indicators and consumer confidence show that Indian economy continues to forge ahead, emerging out of shackles of pandemic, said an article on the state of economy published in RBI Bulletin on Wednesday. The recovery is spearheaded by an uptick in private investment through November-December alongside a turnaround in bank credit offtake and high capex from the government sector (Centre and states). In conjunction, the employment situation has brightened, said the article written by RBI officials.
Long-term funding was a requirement for infrastructure projects, and asset-liability mismatch in the banking system, impacts the access to finance for infrastructure projects. One of the key challenges would, however, be to get private sector back into investing.
In absolute numbers, India had only 211 start-ups compared to 970 in the US.
The Cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi. The Cabinet "has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/ products of technical textiles with a budgetary outlay of Rs 10,683 crore," Textiles Minister Piyush Goyal told reporters.
Aviation consultancy CAPA on Thursday said allowing domestic airlines to take advance bookings from April 15 is "unfair" to consumers since a decision on lifting the nationwide lockdown is yet to be taken. During the lockdown period only special flights approved by aviation regulator Directorate General of Civil Aviation, medical evacuation flights and those carrying cargo, including medical equipment, to and from different parts of the country are operational.
The agreement received post-facto approval of the Union Cabinet at a meeting chaired by Prime Minister Manmohan Singh in New Delhi on Tuesday evening. The accord would allow the designated carriers of India and Abu Dhabi to have 50,000 seat-capacity each week.
Sixteen aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract while the remaining 40 planes will be manufactured in India, according to the defence ministry.
Minimum one-way air fares between Delhi and London are priced upwards of Rs one lakh in August due to limited number of seats, data collected by Directorate General of Civil Aviation (DGCA) shows. The United Kingdom has included India in the amber list and the change came into effect from Sunday. With this, passengers from India needn't undergo institutional quarantine and can self-isolate at home for 10 days.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
In a country that is often focused on the ways in which it falls short, the start of a year is a good time to remind oneself of such positives, observes T N Ninan.
The acquisition will give the Tatas a firm footing on international routes and generate economies of scale.
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
Offers 12.60% in revenue share to Cidco, while only other bidder GMR offered 10.44%.
Anjuli Bhargava finds out that an astonishing number of relatives of DGCA officials over the years are and have been employed in the airline industry.
While the meetings on Friday were preliminary discussions, it is learnt that sectors like tourism; hospitality; aviation; micro, small and medium enterprises (MSMEs); and livestock have sought deferring loan repayments and temporary tax holidays in specific cases to help them tide over the steep fall in economic activity.
Big and small domestic IT firms are busy positioning themselves to snap up the $8 billion market opportunity that the aerospace sector has created.
"Over the next six months, I hope to sign another Rs 50,000-60,000 crore worth of contracts, taking the total to Rs 3 trillion," the minister told reporters on the sidelines of an industry exhibition on technology and material sciences in Navi Mumbai, Maharashtra.
The coronavirus pandemic has changed how businesses look at payments. Earlier, fintech companies said when they were talking to merchants, they were not interested in digitisation.
India has announced suspension of all tourist visas till April 15 in a bid to contain the spread of the virus.
E-way bill generation, which is related to paying Goods and Services Tax (GST) and a key high-frequency indicator of economic activity, may have fallen to a five-month low in April as more cities experience lockdowns due to a surge in Covid-19 cases. In April e-way bill generation may decline to 55-58 million, which is the lowest since at least November. On the higher side, it is a 17 per cent decline over March.
Move aimed at helping carriers bankroll growth plans.
The price movement and trading volumes for few days prior to Mistry's ouster will also be looked into
India will require 1,740 planes over the next 20 years.
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
Some airlines, says Anjuli Bhargava, are convinced there's a conspiracy to malign them.
The defence ministry said 10 helicopters will be for the Indian Air Force and five will be for the Indian Army.
The government may roll out a new foreign trade policy (FTP) of a shorter term of two-three years in a bid to keep pace with the fast-evolving scenarios in international trade which have been triggered by recent disruptions, such as the pandemic and the Russia-Ukraine war. An FTP is an elaborate policy guideline and strategy to promote the export of goods and services, with a duration of five years usually. The existing policy came into force on April 1, 2015, and was valid for five years, before multiple extensions.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
The Union home ministry on Thursday announced that with this, the restrictions placed on visa and international travel since March 2020 due to the coronavirus pandemic stand further eased given the present overall pandemic situation.
Jobs are back with a bang in India, proving it to be the most optimistic nation in terms of hiring plans.
The 1,600-member crew and a slew of civilian workers were working like busy bees on Friday preparing the majestic warship IAC Vikrant for its commissioning on September 2.
The government expects to realise Rs 35,100 crore from the partial sale of Bharatnet fibre assets and around 13,500 mobile towers owned by state-run telecom firms as part of its national monetisation pipeline released on Monday. Government think tank Niti Aayog has valued over 2.86 lakh kilometre of optical fibre assets laid by BBNL and BSNL under rural broadband project Bharatnet at Rs 26,300 crore, according to the National Monetisation Pipeline (NMP) document. According to the document, BSNL's 13,567 mobile tower assets and MTNL's 1,350 towers have been valued at Rs 8,800 crore.
The Jet Airways of old is no more and the industry mourns its demise. Anjuli Bhargava reports.
The government has deprived AAI of a sizeable and stable source of income.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Jet-Etihad deal documents among those leaked: CBI
