At present, 60 per cent of the mutual fund industry's corpus comes from fixed income schemes, which invest in stable return giving instruments such as government securities and bonds.
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
Be it bad loans resolution or his uncanny focus on inflation fighting which earned him criticism of being a policy hawk, Acharya was at the centre of it all and deftly steered the policy machinery.
"ITIRs were conceptualised keeping in view the need to boost the growth of both IT/IT enabled services (ITeS) and Electronic Hardware Manufacturing (EHM) units," an official statement said. These regions would become major magnets for investment, creating employment opportunities and economic growth in the area while reducing the pressure on existing urban centres by enabling growth of new townships, it added. The ITIRs will be much larger than IT SEZs.
The Centre has also filed a caveat in the registry saying it should be heard if the bench agrees to hear and pass orders on any such plea
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
One wing of the government's definition of what constitues infrastructure is different from that of another and this needs to be resolved fast.
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The National Spot Exchange Ltd, promoted by Jignesh Shah-led Financial Technologies, is facing a Rs 5,600-crore (Rs 56-billion) settlement crisis.
According to sources the proposal has been scuppered by the British commerce ministry, which was not consulted, and which is the sectoral ministry for trade and investment.
RBI said more monetary transmission to support growth continues to be critical.
The Cabinet Committee on Economic Affairs has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
The high level of capital inflows has forced the government to put fresh restrictions on ECBs. In August this year, the Reserve Bank of India tightened ECB rules by limiting the use of foreign loans in India at $20 million per company.
Some real estate companies were using this route to raise funds. Given the stringent conditions for ECBs, these companies would now find it difficult to raise funds.
Both the institutions will take up common academic programmes, initiate joint research and exchange students.
Indian businessmen would succeed in the European market due to the region's high per capita income and purchasing capacity, Bavarian Minister for Economic Affairs, Infrastructure, Transport and Technology, Erwin Huber said on Thursday. \n
'... That they should emerge as role-models to be emulated by the fellow countrymen; and that the middle classes should not stick only to hate-filled and scornful criticism and condemnation against the state of affairs,' remembers Mohammad Sajjad.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
The government of Switzerland will not be taking up the allegation by Novartis that Indian patent law is incompatible with the Trade-Related Aspects of Intellectual Property Rights agreement at the dispute settlement board of the WTO.
The oil ministry is in fact of the view that the government should bear the entire burden of the revenue losses incurred by the oil marketing companies, after the increase in prices is effected.
The Department of Telecom gearing up for the 3G spectrum auction as per schedule on January 30 and has left it to the Cabinet Committee on Economic Affairs to take a call on the reserve price for a pan-India 3G licence.
'The international community is moving away from harmful tax practices.'
Setting up of the network will ensure that each accident victim on these corridors is able to get medical assistance in time. In fact, the draft policy on road safety, which the Ministry for Road Transport and Highways is currently finalising, also carries a proposal on the same lines.
While India's GDP growth slowed to five-year low of 5.8% in Q4, China grew at 6.4%.
Sugar mills may get some relief from the government following a proposal to raise the interest rate subsidy on loans against excise duty paid by the mills during the last and current financial years.
The US is pressing for taxing digital economy through the 'marketing intangibles' principle and the UK through a 'user-base' principle.
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
Though the Railways is yet to declare any five-year action plan, it is clear the government is not in a position to hand-hold it for any major expansion or upgrade. The issue, however, is how far the Railways can function within the PPP format. Recent history highlights some of the challenges.
After attacking the Jet-Etihad deal, Janata Party President Subramanian Swamy on Wednesday trained his guns on the Air Asia proposal to set up an Indian carrier, saying the FIPB clearance to it was "not legally valid".
The Cabinet Committee on Economic Affairs will discuss the proposal to lift the ban on state-owned companies from investing in mutual funds in its weekly meeting on Thursday.
Only Rs 10,720 crore of the junked currency notes did not return to the banking system, rest 99.9 per cent was deposited raising question mark over the government's effort of curbing black money through the demonetisation.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
The two groups have another JV, Wadia BSN, set up in 1996 to launch Groupe Danone's products from its global portfolio. However, nothing has been launched through the JV till date and Danone is in negotiations with the Wadias to dissolve the JV.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
The Cabinet Committee on Economic Affairs has approved the purchase of 68 aircraft by the country's flagship carrier Air India, Civil Aviation Minister Praful Patel said on Thursday.
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
The facility will be open till November 30.
