The recent migration of marquee investments from Maharashtra to Gujarat seems to have rekindled the Marathi manoos sentiment.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
The Budget will focus on Gujarat's GIFT City.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
Work on projects worth Rs 1,000 cr in full swing: Gift City
Finance Minister Arun Jaitley on Monday said state governments should emulate the concept of 'Gujarat International Finance Tec-City'
Sebi has approved the norms for financial institutions setting up shop at GIF City in Ahmedabad.
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Some experts believe that building new cities may not be the answer to India's swelling urban population.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
New exchange will provide an electronic platform for trading.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
Revenue foregone on account of corporation tax exemptions is estimated to grow by 16 per cent in 2018-19 (FY19) versus 8.7 per cent in the previous year and 12 per cent in 2016-17, show the Budget documents.
Resettlement of 12,000 families living on banks of Sabarmati Riverfront cost Ahmedabad Municipal Corporation about Rs 1,200 crore
Airports and hotels are among the smartest buildings.
States to give choices, Centre to decide by year-end.
Did men and women of redoubtable experience and public service, upholders of the country's steel frame and paragons of corporate governance, never smell a rat?
Finance firms in these SEZs likely to get tax breaks.
Inter-ministerial programmes have run into obstacles as rules written by bureaucrats hamper rather than promote investments.
India's exports to China stood at $7.56 billion during the period whereas the imports have jumped to $52.26 billion in April-January
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
The government is looking at building by-laws and floor area ratio so that you can build up instead of out, thus requiring less land.
Contract finally given for Rs 2,400-cr project, with GIFT City-like features
A policy-related problem that urgently needs to be redressed is the 'miniaturisation' of projects.
Percy Mistry says things at market regulator Sebi are also in bad shape.
Ministry considering tax sops for India's first global financial centre, steps to liberalise futures and options markets.
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
Instead, increases in foreign-direct-investment levels; and reforms to make labour, land and capital more mobile.
Since many of Modi's urban policies were initiated in Ahmedabad, the city may act as a template to examine what can be expected in a country that is witnessing the biggest migration from rural to urban areas in the world
Real estate sector cheers reforms in the Budget.
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