To minise wasteful administrative costs, number of enterprises in strategic sectors will ordinarily be only one to four; others will be privatised/merged/brought under holding companies, she said.
Interestingly, in his entire remarks, Modi never once mentioned regional security, Ambassador M K Bhadrakumar points out.
The rupee is stable, and a number other of measures have been taken to bring stability in the capital market, the FM said.
'Neither farmers nor farm labourers will benefit from these jumla announcements of the finance minister'
Tata Motors, Hero MotoCorp, Ashok Leyland, M&M are up 3-6% on BSE.
Private equity players said their research had shown that the PE share after COVID-19 could go up to 8-10 per cent.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
The trinity of rising stocks, rising yields and rising dollar since Donald Trump's election has already faced a setback.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
IIP, inflation numbers bring cheer, but their sustainability is the key.
Prime Minister Shinzo Abe and Donald Trump talked by phone for about 50 minutes Friday morning and agreed to 'strengthen cooperation' on fighting the novel coronavirus, but did not discuss postponing the Olympics or holding them without spectators, Japanese officials said.
'Without reviving employment, consumer confidence will not go up.'
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
With a global selloff over concerns of the US Federal Reserve's bond-buying tapering impacting the currencies of several emerging markets, the rupee has been the worst performer since Thursday.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
A recent study has found that drinking a cup of coffee can stimulate 'brown fat', the body's own fat-fighting defences, which can fight against obesity and diabetes.
Of the six-member rate-setting monetary policy committee, five members voted for a 25 bps cut while one by 40 bps, the RBI said.
The robust export performance, coupled with a compression of imports led by gold, has led to a substantial narrowing in the current account deficit to comfortable levels.
Fears that FIIs would curtail their investments in emerging markets following the Fed's tapering plan hurt sentiment.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Second quarter earnings of companies, starting with the Infosys results, export-import numbers and industrial production data, could keep markets volatile in the week ahead.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
Meanwhile, IT bucks trend; TCS, Tech Mahindra and Infosys from IT pack were up 0.2-1.3%.
China would contribute $41bn towards the pool. Brazil, India and Russia would contribute $18bn each; South Africa $5bn.
The flawed response to the crisis has fed a us-vs-them mentality in which the banker, the expert, the coastal entrepreneur, the immigrant, the foreigner are all villains. The crisis was not that much of a problem; the response -- the over-reaction, the sovereign debt build-up and the lasting anger -- is the problem, says Mihir S Sharma.
Brazil and other developing nations are growing anxious about the expected withdrawal of stimulus in the United States
US-India Business Council President Nisha Biswal believes once the economic activity and demand resumes, India could hold the potential for diversification of supply chains and manufacturing.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
Cautioning that there will be social and psychological consequences for the rest of the country too, Guha said the migrant tragedy could have been averted or at least minimised if Prime Minister Narendra Modi had given them a week's notice to return home before the lockdown kicked in.
'In 2016, we had De-Mon and in 2017, we had GST.' 'The combined impact of these two started showing up in 2019 and 2020.' 'COVID-19 only added insult to injury.'
The current account deficit, which is the difference between inflow and outflow of foreign exchange, rose to a record high of 4.8 per cent of GDP in 2012-13, from 2.8 per cent in 2010-11.
Market breadth ended weak with 1,437 losers and 1,095 gainers on the BSE.
There was sustained selling of the American currency by exporters ahead of a decision of US Federal Reserve on tapering its monetary stimulus.
Succumbing to a rout in emerging markets, the rupee slipped past the 63-mark for the first time in ten weeks.
Let's take a look at debt situation in the world's biggest economies.
Is the Budget sufficiently prudent? It probably is but at the cost of substantial under-provisioning for the many grand sounding schemes announced in it, says Nitin Desai.
For the lockdown entertainment seekers, Vir Das has a daily treat. 'I set up a show on Zoom every night where I work way my backward through the day.' 'It's a 90-minute daily show with tickets sold and the proceeds going to various charities and causes, like Helpage, migrant workers, children with cancer.'
The partially convertible rupee closed at 61.77/78 per dollar compared to its close of 63.38/39 on Wednesday.
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