In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
The plan could mature into either an umbrella programme for urban youths similar to the Garib Kalyan Rozgaar Abhiyaan or a modified urban-focused version of MGNREGS.
The government also sought approval from Parliament for equity infusion worth Rs 2,345 crore into struggling Air India and another Rs 1,300 crore for Air India Asset Holding.
The biggest losers in the Sensex pack were M&M, ONGC, Vedanta, Tata Steel, L&T, HDFC, NTPC and Axis Bank, falling up to 3.04 per cent.
Launching the annual survey of the UN Economic and Social Commission for Asia and the Pacific, Commerce and Industry Minister Kamal Nath said the government has started a 'revolution' in farming sector by waiving farm loans of Rs 60,000 crore. He said improving the agriculture sector is an important challenge for the Asia-Pacific region & deserves a 'serious response'. The report would open up solutions to the socio-economic issues across the region Nath said on the occasion.
The new DDA flat buyers, who will pay between Rs 700,000 and Rs 77 lakhs (Rs 7.7 million), will gain from the 9.25 per cent interest rate ceiling on new home loans of up to Rs 20 lakhs (Rs 2 million). But a majority of the existing borrowers of private and public sector banks and housing finance companies will miss out on the government-driven initiative.
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
According to officials in the state IT department, as part of the 2009 incentive scheme, the sop is currently available for all IT companies looking to set up or expand base in Kolkata.
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
While India is one of the largest food producers of the world with the organised sector accounting for food output worth $34827 million, only a small percentage of its farm produce is processed into value-added products.
The whistle-blower may strongly feel about the issues he had raised.. the regulator will follow the due legal process and decide, Balakrishnan said.
The commerce ministry is preparing a note for the Cabinet proposing further relief for the rupee-hit exporters, especially those in the job-oriented textiles and leather sectors. The package is likely to be cleared by Commerce Minister Kamal Nath on Tuesday before it goes to the Cabinet Committee on Economic Affairs later this week, he said.
Data from market research agency Nielsen shows that 152 new players entered the hygiene market in March as the lockdown was implemented to contain the spread of the coronavirus disease. The trend is expected to continue, the agency says, as hygiene and health emerge as key themes.
The Finance Ministry is considering a proposal to rope in professionals from the private sector for appointment of chairman and CEO-cum-managing director in state-owned financial institutions as it looks for talent from a wider pool of applicants.
The Supreme Court on Tuesday allowed the export of unused stock of formulation of Endosulfan insecticide while retaining the complete ban imposed by it on its production, sale and use in the country.
The Finance Ministry has invited private sector bankers.
The film hits theatres tomorrow, July 25.
The government on Wednesday cleared a fresh Rs 500 crore (Rs 5 billion) financial package for the crisis-ridden paging industry, amid the ongoing general elections, after getting clearance from the Election Commission.
While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
Few big ticket road projects will be fast-tracked soon.
Remunerations of senior executives have, however, increased considerably.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Prime Minister Manmohan Singh unveiled a new India aid package for African nations on Tuesday, of $6 billion, and a comprehensive range of initiatives covering various social and economic sectors.
Iran's decision to keep India out and welcome China to the scene is a huge strategic setback for India, observes Dr Rajaram Panda.
Funds for capital recast of rural credit societies
Realty players want single window clearance for all affordable projects, reports Karan Choudhury.
With the gradual opening up of shops, hotels, restaurants and catering services with limited number of participants, milk consumption has improved by 5-10 per cent from the lowest level.
The finance ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of bank loans), LIC Act, PFRDA Act, RBI Act, NHB Act, Banking Regulation Act and Chit Funds Act.
HMT Watches has been making losses for the last 15 years.
India has been put in lockdown to halt the spread of the coronavirus outbreak. People have been told to stay indoors, but for many daily-wage earners this is not an option.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Most employment surveys suffer from drawbacks such as limited data coverage, infrequent data collection, and time lag
Finance Minister P Chidambaram is expected to extend a relief package for leather and textile exporters, who are hit by the rupee appreciation, as demanded by the commerce ministry.
In a bid to provide a competitive package for destinations to India, Cyprus Airways is looking at tie-ups with private Indian airlines like Jet and Sahara, for flights to Colombo.\n\n\n\n
