Of the 23 companies, eight have raised funds after Shark Tank India.
The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company, a top official of debt-ridden Vodafone Idea has said. Vodafone Idea Ltd (VIL) managing director and CEO Ravinder Takkar in an interview to PTI said it is clear that the government wants the company to compete in the market and there should be at least three private service providers in the telecom sector. "I have had many many interactions across various parts of the government leading up to this announcement (telecom reforms).
The committee has recommended Rs 8,000-10,000, Rs 13,000-15,000, and Rs 15,000-18,000 including PPE costs for isolation beds, and ICUs with or without ventilator, respectively, to all hospitals. Currently, hospitals are charging Rs 24,000-25,000, Rs 34,000-43,000 & Rs 44,000-54,000 (excluding PPE cost).
With increase in range and payload capability, Madhavan said the new variant will be much superior than Tejas Mark-IA, 73 of which are being procured by the Indian Air Force from the HAL under a Rs 48,000 crore deal that was approved by the government on January 13.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
Telecom operator Bharti Airtel on Monday announced 20-25 per cent tariff hikes for various prepaid offerings, including tariffed voice plans, unlimited voice bundles and data top-ups, and said the new rates will come into effect from November 26. The entry-level tariffed voice plan has been raised by about 25 per cent, while for unlimited voice bundles, the increase in most cases is about 20 per cent. Sunil Mittal led telco -- whose India mobile customer base stood at about 323 million at the last count -- has also increased the tariffs for data top-up plans by about 20-21 per cent
The central government's highway award and construction target for the current fiscal is dominated by the Bharatmala scheme.
Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16 per cent, followed by Maruti, Titan, Bajaj Finance, HDFC, Bajaj Auto and Hero MotoCorp. On the other hand, HUL, Tech Mahindra, IndusInd Bank and Nestle were the laggards.
"The lockdown was an attack on labourers, farmers and small shopkeepers. It was an attack on our unorganised sector. We have to understand this. We all have to stand against this attack," he said.
Sundays are generally quiet days for air travel, but this Sunday was a tad different. There was quite an excitement at Gate 28 of Mumbai airport's Terminal 1 as Akasa Air, India's newest airline, prepared to take to the skies on Day 1. With a new fuel-efficient Boeing 737 Max aircraft and soft cushioned seats equipped with USB ports, Akasa Air hopes to bring freshness to the flying experience.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
The unprecedented health crisis forced an indefinite shutdown of all sports activities -- both contact and non-contact. The FICCI said non-contact sports can resume first by maintaining social distancing norms.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The finance ministry said the sharp inflows last fiscal were due to the government's policy initiatives and economic recovery.
Even with the Rs 20,000 crore distributed among states, it will still be a fraction of what they have been demanding in financial support and clearance of pending dues.
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
Tamil Nadu Chief Minister K Palaniswami on Tuesday launched new industrial and MSME policies aimed at providing further impetus to industrial growth by attracting more investments and also offering sops for development in the industrially backward districts.
The White House is planning another set of sanctions on Russia. This is likely to be announced on Wednesday.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
'The August phenomenon of decline in sales occurs every year.' 'What they have done cleverly is, using the economic slowdown as an excuse, they want a package from the government to compensate the expenditure they will incur while converting BS4 to BS6.' 'That's why they are making a hue and cry.'
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
The first ever auction of non-core assets through the Department of Investment and Public Asset Management's (DIPAM) asset monetisation portal has failed to garner adequate response for land assets of Bharat Sanchar Nigam Ltd (BSNL) that was expected to garner at least Rs 470 crore. The DIPAM has asked its property consultants to identify issues in the bidding criteria that can be resolved. In November 2021, the DIPAM had listed six properties of BSNL and MTNL for sale through its new e-bidding portal for asset monetisation portal developed by state-run MSTC.
Even as the industrial cycle has ground to a halt during the 21-day lockdown, the industry has been hit hard by foreign orders from major clients in the US and Europe being cancelled. Also, a sudden lack of labour has crippled the sector because of a mass exodus of workers from industrial units to the hinterland.
The government on Monday asked online food business operators like Swiggy and Zomato to submit a proposal within 15 days on improving their consumer grievance redressal mechanism amid rising complaints from customers. The department of consumer affairs directed e-commerce FBOs "to transparently show consumers the breakup of all charges included in the order amount such as delivery charges, packaging charges, taxes, surge pricing etc." According to an official statement, "The Department of Consumer Affairs has directed major e-commerce Food Business Operators (FBOs) to furnish the current framework as well as a proposal on improving the consumer grievance redressal mechanism within 15 days."
Reliance Jio has paid about Rs 10,700 crore to the telecom department towards outstanding amount for spectrum acquired in 2016 auction, sources said. The payment was made by Jio last week, sources added. With this, the company has made full payment with regard to spectrum bought in 2016 auction, and the outstandings now pertain to 2014, 2015 and 2021 auction.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
'Opportunity for a country like India is huge in terms of wealth creation.' 'That's the reason India is an attractive economy for investors.'
The proposed auction has business-friendly terms and conditions, including reduced upfront amount, adjustment of upfront amount against royalty and liberal efficiency parameters to encourage flexibility to operationalise the coal mines. Besides, 100 per cent FDI through automatic route has been allowed.
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
That it has been threatening to review this rule for a while is old hat anyway.
The government on Friday slapped an export tax on petrol, diesel and jet fuel (ATF) while also joining nations like the UK in imposing a windfall tax on crude oil produced locally. A Rs 6 per litre tax on export of petrol and ATF and Rs 13 per litre tax on export of diesel is effective from July 1, finance ministry notifications showed. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
'Zero Day' visitors like Maruti Suzuki, TVS, Tata Motors, Hero MotoCorp, Ashok Leyland and Bajaj Electricals are visiting fewer campuses.
On the Sensex chart, IndusInd Bank, Axis Bank, Tech Mahindra, HDFC, ICICI Bank, HCL Tech, HDFC Bank, SBI and ITC were prominent gainers.
Imports too tumbled by 58.65 per cent to $17.12 billion in April from $41.4 billion in the same month last year, according to the data by the commerce and industry ministry.
'At a time when the economy is depressed, a pandemic is raging, and the Chinese are making noises on the border, the NRC could be resuscitated.'
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
'The Modi government is about privatising profits and nationalising losses.'
