The Group of Ministers, which is reviewing the recovery path of Air India, will meet next month to discuss the infusion of Rs 1,200 crore (Rs 12 billion) as equity and review the steps taken by the national carrier for achieving a turnaround.
According to top sources in the government, Prime Minister Manmohan Singh in his meeting with Civil Aviation Minister Praful Patel on Tuesday asked the ministry to take an initiative, even as the turmoil in the ailing airline deepened.
India is worried about Pakistan getting the Taliban to ignite trouble in Kashmir, observes Ramesh Menon.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Bubble economies don't last, and crises bring you back to reality. The truth of both these assertions has become manifest in recent weeks.
"This is Modi's India, this is new India. Now if anyone raises an eye against the country he gets a befitting reply," BJP spokesperson Rajyavardhan Singh Rathore asserted.
Air India's new chief Ashwani Lohani is a man of many parts. Here are 10 interesting facts about him.
The open buggy was seen as a security threat by the security agencies then, following which the traditional carriage was replaced by bullet-proof cars.
Jet Airways has complained to India's aviation regulator about the use of its livery on SpiceJet aircraft, saying the practice could "mislead the public" and is a safety hazard. Jet collapsed in 2019 and lessors repossessed its Boeing 737s. Some of these aircraft were leased to SpiceJet, which operates them without changing the livery. Jet, which is now being revived by the Kalrock Jalan consortium and aims to restart operations in September, has asked the Directorate General of Civil Aviation (DGCA) to ask SpiceJet to stop using its livery.
While Governor Ravi's speeches have put the local BJP supporters on the defensive in matters of religion and social justice, his add-on 'attack on the constitutional scheme' in the 'Senthil Balaji case', has been condemned squarely by many legal experts and editorial writers across the country, thus adding weight to CM Stalin's position -- at least until the courts come up with their binding views, observes N Sathiya Moorthy.
Developed countries are relaxing restrictions on economic activity at a faster rate than expected. Global demand for consumer goods, intermediates and commodities is growing at a fast pace. Most exporters are flushed with orders, says T N C Rajagopalan.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
Tharoor, among the group of 23 leaders who had written to party chief Sonia Gandhi in 2020 seeking large-scale reforms, said 'reformists' at the end of the day wanted a more consultative process where a wide variety of voices would be heard and taken into account before decisions were made.
'The slide in growth has arisen primarily because we have an NBFC crisis on top of a banking crisis,' points out T T Ram Mohan.
Sources said the process has taken time because of a delay in leasing of aircraft. As per the original plan the aircraft were to be leased through GIFT City, Gujarat, but this is proving costlier than doing it offshore.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
Ten years after Kingfisher Airlines was grounded, its former employees continue to wait for their dues. On Monday, the Supreme Court awarded a four-month sentence to the grounded airline's flamboyant owner Vijay Mallya in a contempt case. The apex court also ordered him to deposit $40 million plus interest in four weeks to avoid attachment of his properties.
The process of getting a new promoter on board is likely to take another two to three months and once that happens, the banks would offload their stakes.
At a time when China is trying to make its foray into South Asia, India should use its shared history to strengthen its ties in the region, says Dr Rup Narayan Das.
The Rohit Shetty cops-and-terrorists action-comedy registered the second highest collections for an Akshay Kumar starrer.
Tourist arrival growth down to 1.9% over poor marketing and terror threats. Airlines, too, have been forced to reroute following airspace closure. UK and Australia advised their citizens from travelling to Srinagar following the Pulwama attack.
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
Once the tanks roll back, a zero-based assessment of future equations with China is necessary. Given the conflict situations that China is imposing on India time and again, the red, amber and green lines of interactions with China need to be laid down and communicated in no uncertain terms, asserts Srikanth Kondapalli, the leading China expert.
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PSUs may not be financially sound enough to plug deficit or revive investment.
The external affairs minister, delivering the Sardar Patel Memorial lecture, also made it clear that any attempt to unilaterally change the status quo of the Line of Actual Control (LAC) is 'unacceptable' to India.
In its bid to revive its cargo service, Air-India has issued tenders to induct four freighter aircraft on lease by March to start operations from April.
An overwhelming majority of Indians (84 per cent) feel it is safe to return to their workplaces, according to a Deloitte survey that suggests consumers in India are showing a positive spending intent and brighter outlook towards the future. The latest monthly analysis (wave 220) of Deloitte's Global State of the Consumer Tracker, signals a cautious consumption revival in the country, aided by the decreasing number of Covid-19 cases and an improved vaccination drive. The Global State of the Consumer Tracker is an online survey based on responses from 1,000 people each in 18 countries including India.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
Finance Minister Arun Jaitley sought parliament's approval on Friday to increase the spending budget for this fiscal year by $4 billion, with almost half to be used to inject extra capital into state banks struggling with bad loans.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
The data gaps are inhibiting sound decisions. We need to know seroprevalence, infection, and vaccination rates. This is required in 200 cities of India, every week, suggests Ajay Shah.
The manifesto proposes to launch a Sagar Mala project to set up new ports and upgrading the existing ones and "stringing them together".
'India will come increasingly in the US crosshairs if it insists on maintaining its strategic autonomy, warns Ambassador M K Bhadrakumar.
It was expected that supplies from China will be back to normal by end-June as their factories are now operating at nearly 90 per cent of normal capacity. But the recent issue with shipments has placed an obstacle that manufacturers can't bypass.
Naveenbabu turned 75 last October and there have been rumours of ill health, which he denied last Friday.
