India Inc has expressed disappointment over the Reserve Bank of India's decision to keep interest rates unchanged. This, according to various industry associations, would result in huge capital inflows leading to further appreciation of the rupee.
One of the Rajus, chairman of non-banking finance company Nagarjuna Finance, K S Raju, was arrested for defaulting on repayments of public deposits worth around Rs 100 crore (Rs 1 billion).
With the rupee showing a freefall and hitting a 28-month low against the dollar, India Inc has yet another headache.
Around $1.54 billion was raised by 60 companies through the automatic approval route, which does not require the approval of RBI or the government, while $520 million was raised by the Exim Bank under the approval route, to meet its lending requirements abroad.
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
While salary growth may range from a marginally positive to stagnant or even negative, the increment for some of the "super-specialised" profiles can go beyond 15%.
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Since its launch in late March after India went into a lockdown, concerns about transparency have been expressed about the PM-CARES Fund
Events to keep an eye out for...
There has been a sharp improvement in the productivity of most of the companies, thus making the bottomline growth even stronger.
Companies with no or little debt account for three-fourths of m-cap of BSE 200, excluding financial firms.
Some companies say they will pass on the cost to customers.
The study revealed that 83 per cent of Indian business leaders believe to have fair to good understanding on the issue of climate change. However, just under half of these respondents stated they have a clear strategy in place to respond to these issues. There is a significant gap between good intentions and action as only 21 per cent have measured their current carbon footprint, which is one of the first steps in defining a strategy to deal with the issue, the study noted.
In the first half of 2008, Indian companies accounted for a total of 34 US-bound acquisitions worth over $5.1 billion, US-based Virtus Global Partners said in its latest report on US bound acquisition by Indian companies. However, the volume of deals dropped 15 per cent to 34, from 40 in the H1 of 2007. Over 70 per cent of the transactions involved acquisition of 100 per cent stock for cash consideration.
India Inc is seeking at least quarterly interactions with senior government representatives to establish a channel of communication and help change the opinion at the highest level.
A slowdown in the global economy and the rupee appreciation are expected to hit India Inc's job recruitment plans as the country's employment outlook dipped by six points to 74 points in the April-June 2008 quarter. The business outlook dropped by 9 per cent to 70 points, according to staffing agency TeamLease Services' quarterly Employment Outlook Report.
Assocham estimates offices are facing staff crunches of 15 to 25 per cent with the various strains of fever.
Business jets and chartered flights have been an unlikely victim of the recent corruption scandals involving India Inc.
India Inc will find the cost of fighting a legal battle going up if a suggestion by a Parliamentary Standing Committee to impose higher court fee for the corporate sector is accepted.
Equity investors should thank cash-rich biggies such as TCS, ITC, HUL, Nestl, and Bajaj Auto for this.
Industry body Confederation of Indian Industry said with the government having announced a clear road map for fiscal consolidation and non-food inflation demonstrating a secular decline, conditions are conducive for RBI to have intervened with a repo and cash reserve ratio reduction.
The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
Finance Minister Pranab Mukherjee on Tuesday admitted the Reserve Bank of India's move to hike short-term lending and borrowing rates will hurt growth in the near-term, but exuded confidence that economic expansion will gather pace later as a consequence.
Ambani vs Ambani, Tata vs Birla, Ambani vs Mittal, the fights came in all permutations and combinations, making 2007 arguably the most happening as well as a tumultuous period for the Indian industry that stamped its authority overseas with about 250 acquisitions worth over $32 billion.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Average salary of the 100 best-paid directors is 1% of their companies' net profit.
Tatas top the losers' list, wiping out more than Rs. 50,000 crore of investors' wealth.
India Inc has too much on its plate to ensure double digit growth in FY16.
"Outsourcing is also a concern and I hope it will be addressed soon," Godrej Group Chairman Adi Godrej told reporters on the sidelines of the World Economic Forum on India in Gurgaon.
Corporate India has raised over 8 billion dollars through syndicated loans by way of 33 deals in the first half of this year led by Reliance Industries, which alone mopped up a whopping 2.7 billion dollars.
In the first 10 months of CY07, Indian firms received orders worth Rs 128,147 crore.
'If the government was serious about co-opting the corporate sector meaningfully in the fight against COVID-19, it could have specified activities beyond cheque-writing,' notes Kanika Datta.
In peace and at war, firms remain tethered to promoter families in a uniquely Indian way.
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