UP's mills, dominated by the private sector's 94 units, have already expressed their inability to participate in the next crushing season
'We believe there will be a full shutdown for four weeks and a partial shutdown for eight weeks.' 'Hence, economic activity is unlikely to normalise before the end of May.'
The finance minister also said he would strive to bring down high fiscal deficit of 6.8 per cent of the GDP projected for the current fiscal to 5.5 per cent in the next fiscal and four per cent in 2011-12. High fiscal deficit will force the government to borrow around Rs four lakh crore from the markets this fiscal, which many fear would crowd out private sector investment, an apprehension that led to a crash in stock markets on Monday.
Seeks removal of customs duty on soda ash, retain excise duty at current levels and stricter enforcement of ban on use of old bottles in select sectors like pharma, etc.
Air India has come up with a "gift" this marriage session - 'Shagun Vouchers'.
According to a survey by community platform LocalCircles, early-stage start-ups, funding dependent start-ups and many small businesses will soon be fighting for survival as the spurt in coronavirus cases hits them hard.
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
The prime minister is likely to talk about its possible extension.
Ahead of the much-talked about stimulus package to be announced this weekend, RBI governor D Subbarao said on Thursday the central bank will ensure continuous flow of credit to all productive sectors. Noting that a period of painful adjustment is inevitable, he said, "We hope that all the economic agents will plan their business activities on the basis of this assurance (comfortable liquidity flow will be maintained)."
Rs 50,000-cr loans for 15,000-Mw projects could be heading for restructuring.
Air India has been in the red since the merger of then Air India and Indian Airlines in 2007.
Making a case for an optimal fiscal stance, the Economic Survey on Friday said growth leads to debt sustainability and not necessarily vice-versa. "This is because debt sustainability depends on the 'Interest Rate Growth Rate Differential' (IRGD) i.e. the difference between the interest rate and the growth rate in an economy. "With the Indian context of potential high growth, the interest rate on debt paid by the Indian government has been less than India's growth rate by norm, not by exception," it said.
Banks Board Bureau chief Vinod Rai has proposed performance-linked incentives for bank employees, but the staff unions are dead against the idea.
Happy days are here again for home buyers as the bank freezes the rate for a year.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
On the heels of the Reserve Bank of India making out a case for better pay packages for PSU bankers, global consultancy KPMG said that not only senior personnel, but non -executive directors, too, should be paid salaries on par with their private sector counterparts.
Among key guidelines, the e-commerce companies will also be required to ensure that personally identifiable information of customers are protected.
As tensions between the armies of India and China at the LAC show no sign of ebbing, both sides have significantly ramped up the presence of their troops.
Heralding the government's package to stimulate the economy, major auto companies, including the market leader Maruti Suzuki, on Sunday announced to cut prices of its vehicles by up to 4 per cent.
Tobin tax and a financial sector levy could be considered, says former RBI governor. India should manage its capital account irrespective of high or low inflows, Y V Reddy, former governor of the Reserve Bank of India (RBI), said.
IT services firms would no longer focus on large volume hiring from campuses like they did at least two to three years ago, as demands of clients are changing.
'The government is sincerely working on employment generation. Unfortunately, they are depending on these people from Harvard. Their wrong policies are killing jobs. The government has to come out of the Western framework on which they depend upon a lot.'
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The Purchasing Managers Index (PMI) of China's manufacturing sector rose to 53.8 per cent in September, up 2.1 percentage points from August, the China Federation of Logistics and Purchasing said on Friday.
The Centre has already given packages to exporters, now states should come forward to compensate the affected export sectors, Finance Minister P Chidambaram said at the 54th meeting of the National Development Council in New Delhi on Wednesday. Besides giving some incentives to exporters, he said states should also initiate measures to improve functioning of the public distribution scheme. The Centre has to spend Rs 3.56 to given Re 1 benefit under PDS.
'It will be only in fiscal year 2023 when the size of the Indian economy will be bigger than what it was in 2020, you will see demand and employment rising.'
Finance Minister Arun Jaitley on Friday tabled the pre-Budget Economic Survey in the Lok Sabha.
Besides urging the Centre for extension of loan moratorium, the hotel and travel industries have also demanded deferment of GST and advance tax payments and waiver of fees for all forthcoming licences and permits.
A key lesson for the pharmaceutical sector in this case is to not downplay the significant impact that regulatory non-compliance can have on operations.
Unlike the new private sector lenders, BoR employees' wages are still governed by the industry wage package negotiated by the Indian Banks Association with bank staff unions.
The Reserve Bank has asked banks to work out a special concessional package for the crisis-ridden aviation sector, in response to which the lenders said they will look into the problems on a case-to-case basis.
Former finance head Bansal, who left Infosys in 2015, has gone for arbitration over severance pay
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
It's not surprising that CEOs in IT companies are among the richest in India Inc.
FM announces 12-point action plan to revive sector
The regulatory body has said Adani's power purchase agreements with Gujarat and Haryana would be maintained.
Finance Minister P Chidambaram has listed gas pricing as one of the issues he expects to resolve before the end of June.
The cacophony of uninformed voices should not impact decision making process of bank executives.
While green shoots are beginning to emerge, with June sales rebounding to pre-Covid levels thanks to a rural revival, most FMCG chief executives have voiced concerns about localised lockdowns that began in July and have extended into August in some states.
Indications are that a 'preliminary agreement' may be unveiled during Prime Minister Narendra Modi's visit to the US this week, with President Trump signing the final deal in India in November.
