Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
Even though India has major strengths in chip design and in making the software that actually commands the processors to execute specific tasks, chip-manufacturing has never been the country's strength.
'Vodafone Idea has losses running over Rs 10,000 crore in the last four quarters.' 'It has long-term debt of about Rs 1.15 trillion.' 'Even post-issue, the debt service numbers won't be good,' points out Devangshu Datta.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
India will also launch a sovereign gold bond to lower physical demand.
The National Stock Exchange's proposed IPO to raise Rs 10,000 crore this year is expected to see the largest ever PE exit, of around Rs 5,000 crore.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Banerjee asked Modi not to allow "an insufferable blow to the federalist polity of the nation" by depriving the states of the GST compensation. "I am deeply anguished by the Goods and Services Tax imbroglio which tantamounts to a betrayal of the trust and moral responsibility of the Government of India towards the states, violating the very premise of federalism."
When it comes to Mr Portnoy, it is hard to claim that his trading patterns are any more logical than his fictional namesake's methods of entertaining himself, notes Devangshu Datta.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
While questions may arise over the sheer dominance of a single corporate group in running airports in the country, it pretty much fits into the government's plan to get out of this space and earn revenue without working for it.
From Rs 191 billion in 2019, the world's largest film producing industry now stands at Rs 72 billion thanks to the pandemic.
'The government has realised that the finances of the government are in a precarious state.' 'We are borrowing to fund the ever-burgeoning revenue deficit.' 'Then you are paying interest on the fresh borrowing.' 'For the first time, the government has realised that this cannot go on.'
The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
The Social Dilemma shows how social media is turning human beings into lab rats and zombies, notes Chintan Girish Modi.
Chief Economic Advisor Krishnamurthy Subramanian said India's economy will witness a decline in the current fiscal, but the drop will be limited if there is an economic recovery in the October-March period.
'So far we have paid our salaries and pension in full because we had some reserve fund.' 'But we cannot afford to do so for more than another three months.'
'When users sign up for free apps and services, they are giving up data. They fail to realise the impact of their data in the public domain, which is something that corporations have been monetising on for some time now.'
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
The Finance Ministry has sought comments from stakeholders.
Do the actual numbers bear out the claims made by the government or do they suggest something else? asks A K Bhattacharya.
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies.
The BCCI, however, in a tersely worded reply to Asian Cricket Council (ACC) has made it clear that neither them, nor the broadcasters have any say in national team selection matters.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two 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.
Disaster in Uttarakhand, Himachal Pradesh can be blamed on myopic industrialisation, urbanisation and tourism policies.
Companies such as Facebook, WhatsApp and Twitter are finding it extremely difficult to rope in new India heads.
Vodafone Idea, the country's third largest telecom operator, on Wednesday reported a staggering Rs 73,878 crore of net loss in fiscal ended March 2020 -- the highest ever by any Indian firm -- after it provisioned for Supreme Court-mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues after the apex court ordered the non-telecom revenues to be included in calculating statutory dues, said the liability has "cast significant doubt on the company's ability to continue as a going concern".
Microsoft started discussing the deal in February, Satya Nadella said, adding that the acquisition is about the next phase of growth for the company.
Experts point out teaching in its online avatar helps address women specific concerns, like care-giving responsibilities, lack of safe public and work spaces, and the inability to move to cities.
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
The agency attributed the sharp revision to various high-frequency indicators showing a softness and partly blamed the same to reforms like GST, real estate regulation, and the bankruptcy code which are still a "drag" on the economy.
Has the army confronted China, equipping itself with emergency purchases that have been largely paid for by pensioners, asks Ajai Shukla.
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