10 central trade unions have called a nationwide shutdown against 'anti-worker policies' of the central government. Apart from being successful in Bengal, Kerala and NE states, the bandh has also got support from Cong leader Rahul Gandhi and Shiv Sena in Maharashtra.
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.
Reforms under the Modi government will maintain a slow and tentative pace, constantly wary of political opposition. It may not be reform by stealth, but it is reform on the quiet, says A K Bhattacharya.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
While the declarations under the scheme have to be filed by December 31, 2020, the government had in October extended the deadline for making payment by three months till March 31, 2021, in view of the ongoing Covid-19 pandemic.
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
The fiscal deficit for 2015-16 may eventually come down to the targeted level of 3.9 per cent of GDP.
The Indian stock markets may turn bearish after the US Fed decides to raise interest rates.
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.
Dividend payouts seem recession-proof.
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
'We asked them to withdraw these instructions immediately.
'We said, "If you don't withdraw, we are going to give a call that from tomorrow officers will totally boycott these instructions".'
Action has been taken according to a memorandum that requires 'periodic review of performance of government servants'.
BSNL has warned that the fixed line telephone charges would go up considerably in case TRAI reduces the access deficit charge.n
The Supreme Court, examining whether states can sub-classify Scheduled Castes and Scheduled Tribes for grant of quota inside quota, on Wednesday said all SCs and STs may not be homogeneous in terms of their sociological, economic, education and social status.
The Centre has set a steep divestment target of Rs 80,000 crore for 2018-19. In the first six months, it has managed to mop up less than Rs 10,000 crore.
Companies in China, South Korea and Indonesia pay 25 per cent tax, while those in Malaysia pay 24 per cent. Only Japan has a higher tax than India at 30.6 per cent. Hong Kong has the lowest corporate tax rate of 16.5 per cent while Singapore has 17 per cent rate and Thailand and Vietnam levy 20 per cent tax on companies.
The coal-bearing states shall be getting additional revenue from such coal mines.
The five-day extradition trial of fugitive diamond merchant Nirav Modi will begin from May 11 in a part-remote setting, a UK court has ordered. Modi is fighting his extradition to India over the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.
'Unless she joins one of the coalitions, she has a bleak future.' 'The NDA option is suicidal, but INDIA could help her.'
The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
Eight of the 30 companies in the BSE Sensex that shared data reported 99 fatalities in 2016-17 against 86 in the previous year. These lives were lost due to industrial accidents at manufacturing facilities. Fatalities owing to road accidents were excluded from the count.
Privatisation is still regarded as beyond the pale but public-private partnerships have gained in popularity.
The NRA will have representatives of IBPS, SSC and Indian Railways.
Centre shows optimism of achieving the target of 4.1% at back of recent measures and turn around in manufacturing.
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
The Union government is reportedly considering doing away with the practice of presenting a separate Railway Budget.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
'The government's projections for 2019-2020 will be disappointing big time.'
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
