Prime Minister Narendra Modi on Tuesday slammed Chief Minister Mamata Banerjee for seeking en bloc voting by Muslims for the Trinamool Congress and said had his party made a similar appeal to Hindus, it would have been criticised and censured.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
'COVID-19 is just an excuse to pass anti-labour laws.'
In his first poll rally for the April 6 assembly polls, Modi rooted for the Tamil language, culture and invoked the welfare legacies of M G Ramachandran and J Jayalalithaa, late chief ministers and All India Anna Dravida Munnetra Kazhagam icons.
The beneficiaries of the second set of announcements are expected to be micro, small, and medium enterprises, farmers, women, poor, migrant workers, and other marginalised sections of the society, reports Arup Roychoudhury.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
Prime Minister Narendra Modi on Thursday reviewed the impact of Covid-19 on the Indian economy and a possible second stimulus to boost sectors hit hard by the pandemic. Modi held discussions with Finance Minister Nirmala Sitharaman as the pandemic hit sectors from small industries to the aviation sector hard with millions of jobs at stake.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
All schools and colleges in West Bengal will remain closed till June 10, she added. The Trinamool Congress supremo said she raised the issue of a financial package for the state and clearing its dues.
Sectors, which, recorded healthy export growth included electronics, engineering, chemicals, pharma and tea.
The finance ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion, sources said. Last month, the government announced a Rs 1.70 lakh crore relief package in the form of foodgrains and cash transfers for the poor and vulnerable section of the society to help them deal with the hardships caused by the lockdown. Now, the government is working on a stimulus to be given to hard-hit sectors of the economy after the lockdown is lifted, sources said, adding that an announcement is expected in the next few days depending on the severity of the pandemic.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
'The Modi government is about privatising profits and nationalising losses.'
There are over 26 million MSMEs in the country that provide employment to around 60 million people.
'Under-employment continues to be a very big problem.' 'What we see today is many youth who would have accepted any kind of job are not willing to accept any job.' 'They are ready to wait for a better job, one that justifies their educational qualification. 'This is one of the reasons why unemployment has risen.'
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
'By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.' 'Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.' 'And what Tirupur produced in March is still here, and they have also become dead inventory.'
India Inc gave a thumbs up to the UPA-II's last Union Budget before the general elections next year and said Finance Minister P Chidambaram presented a "bold" and "growth-oriented" Budget.
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Since 2015, Odisha has been embroiled in a bitter battle over the origin of the delicacy with West Bengal, which had in 2017 secured the GI tag for 'Banglar Rasogolla'.
There are three proposals in the union budget 2013-14 that stand out with respect to start ups and MSMEs.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
In order to make it hassle-free, various start-up support groups such as TiE (The Indus Entrepreneur) and India Angel Network (IAN) are partnering with the digital NBFCs to extend debt finance to their member companies.
In his address to the nation from Red Fort on Independence Day, Prime Minister Modi had given a clarion call to free India from single-use plastic.
To young professionals I would say, work hard, play hard and not be constrained by fads like WLB, says Sudhir Bisht.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
The meeting assumes significance as Swedish furniture retailer IKEA, which plans to invest Rs 10,500 crore (Rs 105 billion) to set up its own stores in India, had sought relaxation in certain conditions related to the mandatory 30 per cent sourcing from micro and small enterprises.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
The BJP hailed teh package, saying it reflected the government's commitment towards creating jobs and stimulating the economy.
'If some measures are implemented quickly, they can help revive growth.'
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
NITI Aayog's Rajiv Kumar accused former prime minister Manmohan Singh and senior Congress leader P Chidambaram of creating a 'false narrative'
The GST Council also decided that a committee of officers will be constituted to examine the simplification of forms for annual return and reconciliation statement.
MSMEs contribute immensely to the industrial landscape of the country in terms of their 45 per cent share of manufacturing output and 40 per cent of exports.
'Our clients need business. For business you need workers and so we decided to help'
Muzammil Patel and Rahul Murthi will answer all your start-up queries.
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