Business Standard: Economy and Policy
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Updated: 6 min 43 sec ago
After much delay in the formation of the National Investment and Infrastructure Fund, a beginning is set to be made with India holding last-mile discussions with the United Arab Emirates (UAE) and Qatar. Some half a dozen road projects are likely to be put on offer to the NIIF in the first lot.The UAE, through its sovereign fund, the Abu Dhabi Investment Authority (ADIA), will invest in the NIIF. "Talks with the UAE are nearing finalisation. A team from the NIIF had recently visited Abu Dhabi. After the UAE, Qatar is likely to subscribe to the fund," said a senior government official.The setting up of the NIIF was delayed because the ADIA had insisted on a non-government company structure for it. Since now the NIIF is in place with Sujoy Bose, former director and global co-head, infrastructure and natural resources, International Finance Corporation, as its chief executive officer, the formal subscription to the fund is expected to happen soon.The ministry of road transport has ...
Special task force has also sought creation of new red flag indicators by banks
Irregularities and religious discrimination, says Centre; old case and action taken, says UP govt
India lowered import tax on wheat to 10% from 25% in Sept 2016; scrapped duty on Dec 8, 2016
The domestic passenger vehicle market looks well placed to cruise to its first annual domestic sales of three million units in the year ending March 17, thanks to a strong recovery after demonetisation. After a 14 per cent growth in January domestic sales, car makers have managed to pull another month of strong growth in February. Domestic passenger vehicle (cars, vans and utility vehicles) sales from companies to dealers is estimated to have surged by almost ten per cent last month to 251,700 units (approx.). Seven companies including Maruti Suzuki, Tata Motors and Toyota posted a double digit growth.The industry had sold a record 2.78 million passenger vehicles in domestic market during FY16 when volumes grew by 7.24 per cent. FY17 growth is likely to be in excess of nine per cent and might hit a double digit mark after a gap of five years. The April-January domestic growth is at 9.17 per cent and 2.5 million passenger vehicles were sold. February growth was led by market leader ...
Coal India would again be generating cash for the central government, its principal shareholder, via the capital buyback guidelines issued last year.In October last year, the monolith had extinguished 1.72 per cent of its shares after a buyback, estimated to have generated cash of Rs 2,500 crore for the Centre. The total cash given to the shareholders was Rs 3650 crore.Now, to again raise money for its shareholders via interim dividend,, Coal India is banking on its subsidiaries. "The buyback process is happening as per the Dipam (department of investment and public asset management) guidelines", a Coal India executive told this newspaper.The guidelines make it mandatory for every public sector undertaking having a net worth of at least Rs. 2,000 crore and a cash and bank balance of Rs 1,000 crore to buy back a maximum 25 per cent of its equity shares. Thus, five of Coal India's seven mining subsidiary companies have to compulsorily buy back their shares and release idle capital. ...
Branch relocations will be governed by business potential and govt's financial inclusion agenda
To meet this week on representation to HRD ministry for degree granting power, autonomy
In his earlier stint in the Commerce Ministry, he was India's chief negotiator at the WTO
FADING SIGNSIndia's gold jewellery exports ($ mn)Particulars To UAE Total to all destinations UAE's share in total (%)Jan '16 334.08 530.33 63Jan '17 148.10 397.71 37Variations (%) (-)55.67 (-)25.01 --Source : Gems and Jewellery Export Promotion Council India's gold jewellery exports to the United Arab Emirates (UAE) declined by a massive 56 per cent in January 2017 due to 5 per cent import duty levied by the local government there.Data compiled by the apex representative body - the Gems and Jewellery Export Promotion Council (GJEPC) - showed India's gold jewellery exports to the UAE at $148.1 million for January 2017 compared with $334.08 million for the corresponding month last year. The decline in exports of gold ornaments coincided with the applicability of import levy by the UAE government effective January 1.UAE, led by Dubai, is a gateway for India's jewellery exports not only to the Arabian nations but also for the European countries. As a matter of practice, Indian gold ...
As the summer heat sets in, prices of milk are on the boil. Arrivals are already slow in parts of the country, including Maharashtra (which is reeling under the impact of two consecutive years of drought), and farmgate prices have risen across the country. While some players have already raised retail prices, others are in a wait and watch mode. The country's largest dairy cooperative the Gujarat Cooperative Milk Marketing Federation (GCMMF) has already said that it would raise milk prices by Rs 2 per litre in March. The federation, however, is yet to decide the exact date from which this would be applicable. This is because input costs for farmers, which includes fodder, cattle-feed etc have gone up by 20-25 per cent in the past one year. Shiva Mudgil, senior analyst, Rabobank said, "Increase in feed and fodder prices is also putting pressure on procurement prices. Fodder prices have increased by 15 per cent to 20 per cent in last one year. Cow raw milk prices have increased by more .
PMI rises to 50.7 in February from 50.4 in January
The government had pegged GDP growth at a 7.1% for 2016-17 despite note ban blues
Members with less than 10 years of service can submit final settlement claim through Form 10C
UIDAI has asked police to investigate, it was not fully convinced about nature of the incident
19% of 320 institutional investors managing $1.3 trn prefer India as investment destination in 2017
The Pradhan Mantri Garib Kalyan Yojana saw declarations of mere Rs 2,500 cr
Govt pegged GDP growth at a higher-than-expected 7.1% for 2016-17 despite the cash blues
Non-subsidised LPG will now cost Rs 737.5 against Rs 651.5 till Tuesday
Meal at Rs 5 for urban poor, pension to widows, Seventh Pay Commission benefits to employees