Economy

Two CCI members order fine on JP Associates; Chairman, others overrule

Raising serious concerns over unfair business practices in realty sector, two members of Competition Commission have ordered Rs 666 crore fine on JP Associates, but were overruled by the Chairman and other members of the regulatory body. The proposed penalty was overruled by 3:2 majority vote by the Competition Commission of India (CCI), even as all the members pressed for ... Read More »

Timeline of China’s steps to stabilise markets, boost economy, promote reforms

China has taken unprecedented steps to stabilise its stock markets after a rout in June and has also intervened to support the yuan in the face of bearish pressure. Following is the timeline of Beijing’s market-stabilising and economy-boosting measures, reforms and statements. ** Oct 23 – The People’s Bank of China (PBOC) cut interest rates and banks’ reserve requirement ratios ... Read More »

Govt spending on infrastructure projects picking up at a modest pace

Spends by the government and the country’s public sector corporations on infrastructure projects have risen by a modest 21% in the six months to September with contracts worth Rs 1,65,400 crore awarded. However, tenders were floated for Rs 2,68,000 crore, a jump of 50.5% over the corresponding period in the previous year and so it is possible more projects will ... Read More »

New for old plan to boost power supply

State governments that will have to take over the bulk of their poorly managed state electricity boards’ (SEBs) loans under a revised financial restructuring scheme will be allowed to shift coal linkages from their older, less efficient sub-critical power plants to their supercritical units. On average, this could lead to a 25% saving on the variable cost and enable the ... Read More »

DoD wants disinvestment target to be scaled down to Rs 30K cr

The Department of Disinvestment wants that PSU stake sale target for the current fiscal be more than halved to Rs 30,000 crore in view of volatility in the stock markets. “The target of Rs 30,000 crore seems more reasonable for current fiscal given that there is no big stock to sell,” a source said. The government has budgeted to raise ... Read More »

Govt to address regulatory, financial issues in infra sector: DEA Secy Shaktikanta Das

The government today assured industry stakeholders of resolving regulatory and financing issues to expedite  infrastructure projects, including those being promoted under the PPP mode. “We will examine the suggestions in consultation with the various other departments and ministries and place them before the government for decision quickly,” Economic Affairs Secretary Shaktikanta Das told reporters after a meeting with infrastructure sector ... Read More »

India’s fuel consumption to be higher in 18 months: Moody’s

Projecting Indian economy’s growth at 7 per cent in the current fiscal and 7.5 per cent in the next one, Moody’s Investors Service today said GDP growth and low oil prices will lead to higher fuel consumption over the next 18 months. “We expect the Indian economy to grow at a faster pace, with GDP growth for the fiscal year ... Read More »

As oil industry bleeds jobs, Asia’s green energy drive offers bright spot

Renewables are powering a rare bright spot in the energy industry, with record job hiring in solar, wind and hydro partly offsetting the biggest round of job losses in the oil and gas sector in almost two decades. The boom in new green jobs is being led by Asia where governments in countries such as China and India are embarking ... Read More »

Former Infosys honcho T.V. Mohandas Pai on survival of startups: Top 10 points to know

Former Infosys director T.V. Mohandas Pai says a majority of startups in India would fail and that only 10 per cent of these new-age companies will be successful while – Pai voiced his opinion even as the startup ecosystem is thriving in India. Currently India has 18,000 startups valued at $75 billion, employing 300,000 people. A recent report by IT ... Read More »

Relaxed tax residency rules to help MNCs

Foreign companies with Indian shareholders won’t have to pay taxes here for their worldwide income unless they are managed from India on an everyday basis. If these foreign companies are managed from outside India, whether or not they are promoted by resident Indians, they will have to pay taxes in India only for the income they earn in the country. ... Read More »