Arun Jaitley's maiden effort is a welcome and purposeful change in direction and not UPA redux.
Over 40 per cent of MSMEs are owned by entrepreneurs from other backward castes.
Despite impressive progress, a Green Revolution-era policy framework - subsidies for fertiliser and free electricity for groundwater irrigation - has now become an escalating risk to sustainability.
The immediate challenge to faster growth is to restore stability to the currency markets.
By enabling, not colluding, with the private sector, the government can drive growth and deliver social protection on a much larger scale.
"I don't think the only solution for us is a bank, though it could be a bank. On the other hand, if the financial system continues to grow at 20-25 per cent, there's no reason why in our current construct, we can't comfortably keep growing at that same pace," says Rajiv Lall, CEO and Managing Director, IDFC.
It's the easiest thing to give people money, but the risk perception has changed, says Rajiv Lall, Managing Director, IDFC.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
After acquiring Grama Vidiyal Microfinance last year, IDFC Bank is looking for opportunities to strengthen its retail capabilities, says Rajiv Lall, its chief,
'India is the largest stomping ground in the world for impact investing as we have an extraordinary combination of entrepreneurial drive with huge, absolute demand for all kinds of social services,' IDFC First Bank's chief Rajiv Lall tells Anjuli Bhargava.
Experts will give their inputs for Budget.
Control over PSU banks is what is allowing the government to drive this scheme.
Ahead of his government's first full year budget, Prime Minister Narendra Modi on Friday sought ideas from economists to attract investments, create jobs and finance infrastructure to put India back on high growth path.
The fragmentation of politics and the pressures of coalition management have contributed to a near-secular rise in budgetary social expenditures and spending on subsidies since 1991, leaving little fiscal space for government-led capital investment.
India Inc has few leaders who are likely to grab headlines in 2015.
Describing India as an "emerging democratic superpower", Australian Prime Minister Tony Abbott on Thursday kicked off his two-day India visit during which the two countries are likely to clinch an elusive civil nuclear deal.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
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