Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
The company has also issued a ban on all non-essential domestic and international business travel, and is encouraging employees who may have returned from international travel to work from home for 14 days.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
The projected increase for 2020 is lower than the average salary hike that graduates of top business schools have managed - at around 12 per cent.
A hot sale of a Chinese product, whether assembled in India or anywhere else in the world, may make the country of origin rule fall by the wayside. Moreover, its execution is challenging for businesses as there are no clear guidelines or definitions from the authorities on what constitutes 'country of origin'.
The business council aims to give impetus to trade.
In a first by an Indian firm, Deccan Aviation chief Capt GR Gopinath on Friday announced the launch of Deccan Express Logistics, an air cargo and express logistic service on domestic and international routes.
Jeff Bezos, chief executive officer of Amazon, has committed to invest $5.5 billion into India and that figure is approaching quickly.
VRL investors have punished the stock for his move, but Sankeshwar is defiant.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
After dropping Chinese sportswear company Li Ning as India's Olympic kit sponsor, Sports Minister Kiren Rijiju on Wednesday said the country's athletes will not wear branded apparel in the upcoming Tokyo Games even as the Indian Olympic Association (IOA) claimed that the search is on for a new partner.
Traders are closely watching the progress of the monsoon.
'90 per cent of the food and grocery business is still with the kiranas.' 'If kiranas are not allowed to operate, it becomes a serious issue.'
Experts say Future group will look for an out-of-court settlement with help from Reliance in the Amazon matter.
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
As spending on infrastructure has three times the desired impact, the government's Rs 111 trillion National Infrastructure Pipeline should be accelerated: Assocham president, Vineet Aggarwal
'We are certainly open to inorganic opportunities to grow.'
'What matters to me is that the film is reaching out and touching hearts.' 'An 85-year old man and his 75-year wife, who had never stepped into a cinema, went to see The Kashmir Files.' 'That is my real achievement.'
There is no better way to address the security threat emanating from ISIS and other terrorist groups in Afghanistan than by co-opting the Taliban, asserts Ambassador M K Bhadrakumar.
With economic activities gathering pace post easing of lockdowns across the country, hiring activities in most sectors have shown significant recovery in October over the previous month, says a report. On yearly basis, however, the overall hiring was down by 17 per cent in October, according to the Naukri JobSpeak Index for October' 2020.
The government on Thursday said it has extended the Emergency Credit Line Guarantee Scheme (ECLGS) to the health sector and 26 other sectors identified by the Kamath Committee. The National Credit Guarantee Trustee Company Limited (NCGTC) has issued the operational guidelines for implementation of ECLGS 2.0 scheme, the finance ministry said in a statement. The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package.
A look at licensed distilleries shows that many have connections with politicians and influential business families. Among politicians, a minister owns a distillery. Two others are owned by ex-Congressman Venod Sharma and ex-Akali MLA Deep Malhotra.
The deal street has come out of the record lows in the pandemic-washed out June quarter with transaction value growing almost 6 per cent to $21.64 billion in the July-September quarter, thanks to a string of equity sales by Reliance in its telecom and retail arms, says a report.
'Maybe it's time for Plan B for the film industry.'
There are 12 sites across India, including private and public hospitals, conducting Phase 1 and 2 human clinical trials for Bharat Biotech's Covaxin. Based on an earlier letter by the Indian Council of Medical Research (ICMR) to the 12 sites, volunteer recruitments for the clinical trials were to begin by July 7. At least three sites are yet to kick-start the process.
Maharashtra is expecting its active caseload to reach 11.9 lakh by April 30, compared to the current active caseload of 5.64 lakh, Thackeray said.
The move comes after Flipkart decided to pass on shipping costs to its sellers, including charging them for reverse logistics.
'Young professionals should be open for jobs in adjacent industries, pick up a contract job to have an opening balance, develop skills in the job in hand, invest in learning and develop cognitive skills and capacities.' 'Spend as per the need only.'
The financials of six privately held companies associated with Siddhartha show an increase in debt and falling ability to meet short-term obligations.
Adani said he expected the number of flyers in the country to grow five-fold, which means India would require 200 additional airports to handle over 1 billion domestic and international passengers across the tier-1, -2 and -3 cities.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
Puri said ITC will focus on health and wellness products within the FMCG vertical. He also said the company will attempt to reinforce the existing categories in the FMCG segment.
Under its door-step delivery model, consumers can shop at any of the three Future Group-owned convenience formats - Easyday, Nilgiris and Heritage - both online or offline.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Shagun Kapur Gogia might not have convinced her uncle Rana Kapoor, managing director and chief executive of YES Bank, to appoint her as a board member of the bank, but it appears she has successfully carved out her own space in the financial world.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
