Measures under the GRAP's 'very poor' and 'severe' categories came into effect on Tuesday.
The additional outgo to combat the impact of COVID-19 will significantly erode the fiscal consolidation achieved by the state governments in the past three years, an RBI report said on Tuesday. In its study of the state budgets of 2020-21, the RBI report which has dwelled on the theme 'COVID-19 and its Spatial Dimensions in India', said that Gross Fiscal Deficit (GFD) of the states would spiral during the current fiscal.
The move will help industries in pushing authorities for exemption under various labour laws at a micro-level, along with demanding changes to bring greater flexibility in their operations related to retrenchment, safety standards, and collective bargaining.
Pushpal Shinde now earns some Rs 50,000 a month.
Addressing a press conference on measures taken during 21-days lockdown imposed from March 25 to contain the spread of Covid-19, MHA joint secretary Punya Salila Srivastva said the situation of essential goods and services is under control. To strengthen this situation, the home ministry has written to state governments that both inter-state and intra-state movement of trucks and goods carriers should be allowed during the 21-day countrywide lockdown announced by the central government irrespective of the cargo being essential or non-essential.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
In his first poll rally for the April 6 assembly polls, Modi rooted for the Tamil language, culture and invoked the welfare legacies of M G Ramachandran and J Jayalalithaa, late chief ministers and All India Anna Dravida Munnetra Kazhagam icons.
With just a few days left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time. A Bill would have to be passed in both Houses of Parliament, if any change, with respect to suspension of Insolvency and Bankruptcy Code (IBC), is to be made - including extension or creating any exceptions to the rule.
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The sources said India may be building small libraries as part of the community development initiative, but most of its investments in Afghanistan were on mega infrastructure projects including the 218 km road from Zaranj to Delaram, the Salma Dam and the new Afghan Parliament building.
The government on Wednesday said the ordinance seeking to empower Reserve Bank to cut Statutory Liquidity Ratio below 25 per cent is expected to be brought in by this month-end or early February.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
Four enterprising women tell us how they tackled bias and criticism to create a niche for themselves and are now leading their businesses.
In televised remarks after Finance Minister Nirmala Sitharaman presented the budget, Modi said it has many provisions for the agriculture sector, including for making loans easier for farmers.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
Uttar Pradesh, last year, recorded the most 2,60,028 deaths attributable to air pollution, followed by Maharashtra at 1,08,038 and Bihar 96,967, it said.
The BJP hailed teh package, saying it reflected the government's commitment towards creating jobs and stimulating the economy.
If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
The senior Bharatiya Janata Party leader had made the allegation in a tweet on Sunday wherein he had also launched a veiled attack on a sitting Congress MLA, who had shot off a letter to Chief Minister Nitish Kumar, seeking return of Rs 50 lakh released from his local area development fund.
Those who have not seen poverty and go to learn about it at Kalavati's house in the darkness of night, say there are no jobs, Singh said.
Enthused by India's financial inclusion drive, US-based Accion, one of the biggest micro finance organisations in the world, has renewed its focus in India. Michael Schlein, bottom, left, chief executive officer of Accicon, tells Namrata Acharya in an email interview the Wall Street and Silicon Valley are eager to participate in opportunities presented by the issuance of the small finance and payment bank licences, the expanded banking correspondent opportunities, and the Jan-Dhan Yojna.
Jammu and Kashmir Chief Minister Omar Abdullah on Monday made it clear that reduction of footprints of security forces and phased withdrawal only needs a "courageous statesman" and not referendum.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
A Delhi-based organisation is helping parents become involved with their children's school experience, says Geetanjali Krishna.
Market experts say that of the total 600,000 villages in India, under two per cent or around 10,000 villages contribute to about half of the rural consumption in the country. Targeting these villages and ensuring that penetration is strong is key for most consumer goods companies.
Till June-end alone, insurance regulator is expected to bring about more than half a dozen reforms that will have a significant impact on the customer.
Simpler GST structure will be key poll plank, Congress sources tell Archis Mohan.
'It's looking odds-on there won't be a data protection law before this edition of the Lok Sabha is dissolved.' 'This limbo has enabled all sorts of businesses that would be illegal in countries that do have data protection laws,' notes Devangshu Datta.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Prime Minister Narendra Modi on Monday drew flak for his remark praising his Bangladeshi counterpart Sheikh Hasina for her resolve against terror "despite being a woman".
A truly 'made in India' satellite that will empower a digital India.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Companies are worried that any staggered roll-out of GST could result in cash flow issues with businesses not able claim tax credit due to breakage in the chain
Prime Minister Narendra Modi on Friday lashed out at previous governments, saying they seemed to hate development and "looted" public money to win elections.
An expert committee has recommended to Defence Minister Manohar Parrikar that supply of equipment need not be blocked even if bribery charges emerge.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
"Not a single step has been taken by this government to empower small businesses in India," says Praveen Khandelwal, national secretary general of the Confederation of All India Traders and former treasurer of the Bharatiya Janata Party's Delhi unit.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
Microsoft CEO holds all-hands-meet with India employees, reiterates thrust on 'mobile-first, cloud-first' strategy
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