The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project.
"Thunderstorm with lightning/hail/gusty winds/ squall [likely] over Sub- Himalayan West Bengal & Sikkim, Jharkhand and Bihar on 30th April; Odisha on 30th April and 01st May; Gangetic West Bengal, Madhya Maharashtra and Marathwada during 30th April-02nd May and Vidarbha and Telangana on 01st May," said a notice by the India Meteorological Department (IMD) on Friday.
Infrastructure output, which comprises eight sectors including coal, crude oil and electricity, and accounts for nearly 40% of industrial output, fell by 7% in the 2020/21 fiscal year that ended on March 31, the data showed.
The EPFO manages more than Rs 12 lakh crore of retirement savings of over six crore subscribers. The new investment pattern will be effective from March 15, 2021.
"Year-on-year inflation for the month (March) stood at 5.64 per cent compared to 4.48 per cent for the previous month (February 2021) and 5.50 per cent during the corresponding month (March 2020) of the previous year," the labour ministry said in a statement.
As per the target set up at the kharif conference on Friday, the production of rice has been set up at 121.1 million tonnes while the output of wheat has been estimated at 110 million tonnes. The production of coarse grains like maize, millers and bajra has been set up at 51.21 million tonnes while output of pulses has been estimated at 25 million tonnes.
A writ petition filed in the Gujarat High Court by the Association of Industries and Institutions, an apex body of small and medium companies, said there is an “emergency-like situation” in the country in the wake of the “extreme spread of coronavirus”.
Passenger vehicle sales more than doubled from a year ago, rising to 291,000 units in March, according to SIAM data. Two-wheeler sales were at 1.5 million units, compared with 867,000 last year.
The last date for submission of applications for the circular dated March 24, 2021, regarding filling up the post of Whole Time Member (WTM) in Sebi has been extended up to May 14, 2021, the finance ministry said in a notification on Thursday.
In a notification released on Tuesday, RBI said that banks and NBFCs cannot continue with the same auditor beyond three years down from four years earlier and lower than the five years permitted by the companies act. Moreover, an audit firm has to compulsorily have a cooling off period of six after auditing a bank for one tenure, which means banks will have to hunt for a new auditor every three years.
The Employees Provident Fund Organisation's (EPFO) Central Board of Trustees (CBT), headed by Labour Minister Santosh Gangwar, had decided to hike the maximum sum assured under the EDLI scheme to Rs 7 lakh at its virtual meeting held on September 9, 2020.
Speaking at a webinar organised by Merchants' Chamber of Commerce and Industry, Kumar said that the private sector also needs to create trust with the government, which is the need of the hour.
As per CMIE data, unemployment rates in India in April stood at 8.2%, 8.6%, 8.4% and 7.4% in the first four weeks of the month. “The unemployment rate has dropped in the third and fourth week. Nevertheless, it is likely to be close to 8% during the month of April after closing March at 6.5%,”CMIE said in its weekly analysis.
To meet rising demand in the ongoing pandemic, the government has allowed import of medical devices like nebulizer, oxygen concentrators, oxygen cannister, oxygen cylinders, oxygen generators and ventilators.
India's farmers are on track to gather a record 109 million tonnes this year, posing more headaches for a government that some experts say underestimated the strength of rural anger.
The Centre may temporarily waive amended provisions of the Foreign Currency Regulation Act for NGOs following the public health emergency and lack of infrastructure.
State governments could absorb the cost by making small cuts in revenue or capital expenditure as the total cost for all states was estimated at Rs 50,000 crore, said Aditi Nayar, the firm’s chief economist, during a virtual conference on Wednesday.
The country has been reporting alarmingly high cases of infections at over 3 lakh additions and 2,000 fatalities a day, for the last few days. Allegations of under-reporting by some states are also rampant, and the country has had to depend on major world powers for help.
In instruction to field offices, the Central Board of Indirect Taxes and Customs (CBIC) said in the wake of the extraordinary situation arising out of the COVID pandemic, the issue of providing seamless clearance to such relief material received from foreign governments and imported by the Indian Red Cross Society was discussed in a meeting chaired by the Cabinet Secretary on April 27.
The total priority sector credit target for 2021-22 works out to Rs 2,92,391.90 crore, a growth of 14.24 per cent over the previous years figure of 2,55,940 crore.
The Services Export Promotion Council (SEPC) has also said that the recent surge in Covid-19 cases has depressed all the hopes of any revival of key sectors like travel and tourism, medical value tourism, education and aviation.
“Government should give EV purchase subsidy over and above FAME II subsidy along with interest subvention on loan amount taken for EV purchase,” the Aayog has said in its status quo analysis of electric mobility in India.
On April 19, RBI had set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements.
Merani has a total experience of over 25 years and was involved in fundraising, exits, and executing high-yield structured debt transactions at leading firms.
A drawn-out Covid-19 outbreak will impede India's economic recovery, the pace and scale of which had important implications for the country’s sovereign credit rating, it said. India’s rating currently stood at BBB-, the lowest rung of S&P’s investment grade rating.
The US has begun consultations on easing some of the patent and other intellectual property rights rules for Covid vaccines and drugs as the issue was flagged by PM Narendra Modi during his interaction with American president Joe Biden on Monday.
Further, it said the gross domestic product (GDP) of South Asia is expected to rebound to 9.5 % this year, following a contraction of 6 % in 2020, before moderating to 6.6 % next year (2022), it said.
The infusion was done through preferential issue of equity shares, a Finance Ministry communication to the company said. The government had committed Rs 200 crore to IFCI in the Budget 2020-21.
The main goods which recorded healthy growth in exports include oil cake meal, oilseeds, fruit pulps and purees, cereals and millets, spices and condiments, tea, dry fruits, sugar, pulses, coffee, and essential oil.
In a notification, the Central Board of Indirect Taxes and Customs (CBIC) said any registered person during the period from April 21, 2021, to May 31, 2021, will be allowed to furnish the return in Form GSTR-3B and details of outward supplies in Form GSTR-1 verified through electronic verification code (EVC).
“In order to facilitate the trade between major importing countries, negotiations are underway with Taiwan, Korea, Japan, Australia, UAE, New Zealand for achieving Mutual Recognition Agreements for exports of Organic products from India.
It seeks to build upon the existing bilateral frameworks like the Asean-Japan Economic Resilience Action Plan and India-Japan Industrial Competitiveness Partnership and attract foreign direct investment in the region.
But households' physical savings fell to a low 5.8 per cent of GDP in the April-June period -- when the whole nation was under a strict lockdown -- and almost half of the pre-pandemic levels, according to an analysis by brokerage Motilal Oswal Financial Services.
The Singapore Indian Chamber of Commerce and Industry (SICCI), and the Little India Shopkeepers Association (LISHA) are jointly coordinating efforts by the community to support India.
After Andaman and Nicobar (A&N) Islands, Lakshadweep and Ladakh are proactively taking steps for the transformation of their traditional organic areas to certified organic, it said.
Nomura was optimistic that pent up demand would return as it expected the pace of vaccinations to increase in June. India’s weekly vaccination rate dropped to 2.6 million per day from 3.2 million a week earlier, the report said.
Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.
Currently, wheat procurement is in full swing in Punjab, Haryana and Uttar Pradesh. "About Rs 8,180 crore has already been transferred directly into Punjab farmers' account," the ministry said in a statement.
The proposed survey will cover a total of 20,000 respondents from 21 states, including Uttar Pradesh, Maharashtra, West Bengal, Tamil Nadu, Bihar, Karnataka, Madhya Pradesh, and Gujarat. In all, there will be 22 questions.
As per the RBI estimates, economic growth expected to be 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4 this fiscal.
The Directorate General of Foreign Trade (DGFT) will monitor the status of exports and imports, and difficulties being faced by trade stakeholders in view of the surge in Covid-19 cases and support and seek suitable resolutions to issues arising in respect of international trade.
The greatest argument in favor of regulated markets is that they manage production better than any other system. Done properly, regulated market capitalism is supposed to match supply and demand, and provide the right incentives. Productive capacity is built, not wasted. Buyers and sellers are connected. Innovation thrives and benefits everyone.
Lines of cryptographic code, running on a distributed ledger technology such as the Ethereum blockchain, will calculate the right payment amount, and come embedded with conditions for a transfer of value from one party to another. The money itself will contain these capabilities, and we don’t need to look very far to see who will make it available to us.
High-frequency data are already pointing to a deepening contraction in retail activity in the week through April 18 relative to its pre-pandemic January 2020 level, said Bloomberg Economics’ Abhishek Gupta. That’s a key risk for an economy where consumption makes up some 60% of gross domestic product.
Many orchard owners started selling mangoes online last year – after the first wave of Covid-19 hit the country in February and a nation-wide lockdown was announced in March.
The agriculture ministry is coordinating with the state governments to facilitate and ensure that harvesting and allied activities are not disrupted due to the pandemic, a senior official told ET.
Farmers are harvesting rabi (winter) crops sown in the 2020-21 crop year (July-June). Wheat is the main rabi crop. Releasing the latest data, the Agriculture Ministry said: "As a result of the proactive steps taken, harvesting of rabi crops is on schedule and timely procurement is also being ensured for the benefit of the farmers."
"A K-shaped global economic recovery...appears plausible. Most countries will take years to attain pre-pandemic income levels," said a joint report 'Responding to the COVID-19 Pandemic: Leaving no Country Behind' by the ADB, UNDP and the UNESCAP.
