LIC, EPFO and PSBs are likely to be asked to subscribe to bonds.
The greatest unknown in this risky initiative lies in the way human relationships will play out -- not just between the Agniveers, who will be competing with their fellows for permanent jobs beyond their four-year tenures -- but also between the Agniveers and existing full-time soldiers, warns Ajai Shukla.
The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.
One Chinese source informed ANI that 10 million new infections are probably occurring daily in China.
'... the government provides adequate cash and kind support for the poorest of the poor for survival... ...conditional cash and skilling support for the economically poor to raise their incomes to adequate levels... ...and make functional arrangements for providing unemployment allowance to the vulnerable poor during disasters like the present one.'
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
The number of centrally sponsored schemes have increased to 35 in FY22 from 30 in FY21 and central sector schemes have increased to 704 from 685 in the previous year, reports Dilasha Seth.
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
'There is one sector which is overlooked. And that is the middle and upper middle class.'
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
The LDF government -- which has negotiated a series of crises in the form of natural disasters to the Covid pandemic -- cannot turn a blind eye to the accumulated debt of the state that now exceeds Rs 3 trillion and the need for more jobs, investment and industry.
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
Emerging from a meeting with Banerjee at the state secretariat, Yadav said that the first priority of his party was to stop the Bharatiya Janata Party's progress in West Bengal.
India's plant-based meat market is estimated at $30-40 million, largely driven by consumer packaged food. The market size in India is likely to touch $500 million in three years.
'The government has failed to understand the seriousness of the situation, and that's why they are underestimating the problem.' 'They think some tinkering here and there will fix the economy automatically.'
Aviation turbine fuel accounts for 35-40 per cent of the total operating cost of an Indian airline.
'Demand is wonderful. We have crossed 10 million on many days.' 'The Swedish trade commissioner recently said, "You guys are vaccinating the entire Sweden in one day".'
New Delhi is vulnerable to US sanctions under a 2017 law called CAATSA.
The 101 Squadron is the second IAF squadron to be equipped with the Rafale fighter jets. In September last year, the Rafale aircraft were inducted into the 17 'Golden Arrows' Squadron.
...with extravagant claims in both the eastern and western sectors, observes Ambassador Talmiz Ahmad, as India is fixated on asserting its border claims based on the McMahon Line.
According to government sources, frozen parota (layered flatbread) does not qualify as a staple item and is not eaten by the poor. It is consumed by a class that can afford to pay taxes, hence falls in the 18 per cent category with the likes of biscuits, pastries, and cakes.
Launching the auction of mines for commercial mining, that is expected to garner Rs 33,000 crore of capital investment in the country over next five to seven years, Modi said it not only marks the beginning of unlocking of the country's coal sector from the "lockdown of decades", but aims at making India the largest exporter of coal.
The government on Tuesday extended the deadline for filing income tax and GST returns, raised the threshold of default that could trigger insolvency of a company, and waived charges on cash withdrawals from ATMs of other banks as a precursor to a broader stimulus package for the economy distressed by the coronavirus outbreak.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fund interest on working capital loans.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
The Union Cabinet on Wednesday approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector hit hard by the coronavirus crisis. The ECLGS was the second-biggest component of Rs 21 lakh crore comprehensive package announced by Finance Minister Nirmala Sitharaman last week.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
Diamond industry expects revenues to drop by 20-25% in the current financial year.
India has demanded resumption of export benefits to certain domestic products under GSP, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and import duties cut on some ICT products.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
The first step? Get in touch with past employers and colleagues to see if there are any opportunities, advises Ravish Agrawal, founder and CEO, Able Jobs.
Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through video conference, and the minister appreciated the efforts of banks in execution of the scheme.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
