13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Poor rainfall has also depleted water reservoirs levels, which is likely to impact the winter crops.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
Sena criticised Modi's announcement of a credit line of $1 billion to Mongolia and asked why he can't show the same eagerness to help the distressed farmers of Maharashtra.
Officers across departments and ministries have been asked to speak to people across sectors for 'SWOT' analysis of issues for revival of the economy.
The last three prime ministers who served full terms started out in their early 70s. Mr Modi is younger and fitter than all of them. But he needs to find it in him to change course if he is to beat the odds, notes T N Ninan.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
In the first quarter of 2016, India's credit-to-GDP gap stood at -2.9, the lowest among the BRIC group of nations
Though the BJP is running too close for comfort, populist schemes and support among Muslims may help Mamata Banerjee overcome the challenge, observes Aditi Phadnis.
Sahara group on Wednesday said the sale of its airline to Jet Airways for $500 million was not a "distress deal but a profitable exit" from the business that did not hold promise and future in the short to medium term.
The year gone by has also forced all airlines to turn the lens sharply on their own costs, workings and internal dynamics, opening their eyes to their vulnerabilities. Fewer, leaner, nimbler players will emerge from the carnage.
These parties also asked the Centre to present a revised comprehensive economic package that will be a 'true stimulus' and sought reversal of all unilateral policy decisions, especially pertaining to labour laws, as they put forth a 11-point demand charter before the government during a virtual meeting, called by the Congress to discuss the situation arising out of the pandemic as well as the lockdown.
Bharat Krishak Samaj demanded that the Pradhan Mantri Fasal Bima Yojana should be replaced with a new crop insurance and compensation scheme.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
The Bill suggests an insolvency regulator.
A solitary patch of violet stands out in what are walls blackened high with soot, a reminder of a room that was once coloured with shades of content and is now littered with the detritus of a riot -- except for a bed on which sits Nazar Mohammad. His three-storey home in northeast Delhi's Shiv Vihar Phase 7, one of the worst-hit areas in the recent riots, tells the story of not just three days of clashes but also of hope rising from the ashes of violence.
The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
Distressed retailer Subhiksha on Thursday said its 15,000 employees have been unpaid since October last and it has been directed by Employees Provident Fund Organisation (EPFO) to pay the assessed dues at the earliest.
While warning that many key clients and employees have threatened to quit the company due to its bad financial position, the government-appointed board of Satyam Computer also sought CLB's nod for allotment of preferential equity and increasing its authorised capital to Rs 120 crore (Rs 1.2 billion). The petition has been admitted by CLB, which would continue its hearing on Thursday.
The worst economic downturn in decades has forced the Church of England to turn away clergies for the first time in history after billion of pounds of its investments were wiped out in the financial crisis.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
With Mahela Jayawardene named coach of Mumbai Indians on Friday, speculation is rife that former Australia skipper and the IPL franchise coach Ricky Ponting may be in contention for a big role in a revamped Australian cricket.
This race among parties to woo the farmers mainly stems from the analysis of political pundits that the peasant class played a crucial role in the defeat of the BJP in Rajasthan, MP and Chhattisgarh.
'People can start making a safety net, and that safety net should be at least three months of your monthly salary.' 'If somebody is earning Rs 25,000 then s/he should have at least Rs 75,000 in her/his bank account, so that if anything like this (lockdowns) happens in the future, they are not struggling.'
The stressed asset business will be a mix of an ARC and a distressed asset fund. Ambit has already started insurance brokerage and equity research and sales businesses this year. It closed a $100-million private equity fund called Ambit Pragma Ventures recently. It is also keen on starting proprietary trading.
Banks completed a full circle in 2008, as famed lenders from New York to Tokyo turned beggars who lined up for bailouts from their respective governments.
Participating in a video conference along with chief ministers of other states, Kumar spoke about many states having arranged for return of students from the Rajasthan town, and also made an oblique reference to the pressure from opposition parties that his government has been facing on the issue.
Seizing on Prime Minister Narendra Modi's poll promise of 'bigger than Rs 50,000-crore' financial package for Bihar, Shiv Sena president Uddhav Thackeray on Saturday said.
A 13-member group, headed by RBI Executive Director R Gandhi, has made various recommendations on G-Sec market, retail participation and interest rate derivatives market.
If convicted, each defendant faces a maximum penalty of 30 years.
The sea-facing desert city has been hit by a spate of redundancies recently, following the worldwide financial meltdown, which has affected its much vaunted real estate sector. The lay-offs affect both the locals as well as expatriates, mostly from the Indian sub-continent.
Chairman and CEO of financial giant Citigroup Charles Prince plans to resign at a board meeting on Sunday in face of fresh losses from distressed mortgage assets leading to a $5-billion write-down and sharp drop in profits, media reports said on Saturday. The move would end the four-year tenure of Prince, a longtime lawyer and loyal lieutenant of former Citigroup head Sanford Weill, who assembled the financial giant that stands as America's largest bank by assets, the Wall
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
'The RBI risks becoming dangerously weakened, as successive governments and finance ministers have misunderstood its role'.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
Rural budget set to increase; likely to enhance market linkages for agri commodities
'The BJP leadership and its agriculture minister must make up their mind on what kind of corrective measures will be needed for Indian agriculture at this point in time.' 'The sooner Mr Singh provides policy clarity on this vital issue, the better are the chances of India's agriculture and farmers emerging out of their current mess,' says A K Bhattacharya.
