Regulator says the plan will undermine its autonomy The government’s proposal to transfer surplus money with the Securities and Exchange Board of India (SEBI) to the Consolidated Fund of India (CFI) has met with a strong opposition from the regulatory body. The capital markets regulator feels that the proposal would …
Read More »‘Transmission sector needs Rs. 5 lakh crore investment for future needs’
India likely to consume 1.8 lakh crore units by 2025, says CII One of the key requirements for a $5-trillion economy is an investment of about Rs. 5 lakh crore in the power transmission sector over the next few years, in order to cater to the 1.8 lakh crore units …
Read More »India may have to revise downwards ‘potential’ growth rate from 7-8%: ex-CEA
India may have to revise downwards what is considered its “potential” rate of growth from 7-8% to bring expectations more in line with reality, former Chief Economic Adviser (CEA) Arvind Subramanian has argued in a paper. This paper comes as a follow-up to the one Mr. Subramanian published last month, …
Read More »FinMin expects no flight of FPIs on higher tax
Companies won’t be hit, she says The increase in tax on high net worth individuals, announced in the Union Budget, will not result in an outflow of Foreign Portfolio Investments (FPIs), Finance Minister Nirmala Sitharaman informed the Lok Sabha on Thursday. The higher tax will only apply to individuals and …
Read More »15th Finance panel term extended till Nov. 30
To ensure funding needs of Defence The Union Cabinet has approved expanding the terms of reference of the Fifteenth Finance Commission to address the funding requirements for defence and internal security as also extending its term to November 30, 2019. “The Union Cabinet has approved the proposed amendment to enable …
Read More »Cabinet okays amendments to bankruptcy code
Stress on time-bound resolution, financial creditors’ voting The Union Cabinet on Wednesday approved amendments to the Insolvency and Bankruptcy Code, placing a greater emphasis on more time-bound resolution and laying down voting rules of the financial creditors. “The Union Cabinet today approved the proposal to carry out seven amendments to …
Read More »RBI reserves: panel for transfer in tranches
Jalan committee report expected within the next fortnight; consensus on decision unlikely The Bimal Jalan Committee on treatment of Reserve Bank of India’s reserves is likely to recommend a transfer of a specified quantum of RBI reserves to the government over two or three tranches over the next few years, …
Read More »‘Demographic change, bank infra will help savings grow’
The demographic change India is going through, coupled with the banking infrastructure being put in place, stands to greatly increase savings in the country, Chief Economic Adviser Krishnamurthy Subramanian said on Tuesday. Mr. Subramanian also said India needs to move out of the mindset of being apologetic for profit, as …
Read More »‘Leel Electricals officials not cooperating in SEBI investigation’
Regulator probing alleged fund siphoning by promoters The ongoing regulatory probe into the alleged siphoning off of funds by the promoters of Leel Electricals, formerly Lloyd Electric and Engineering Ltd., is getting delayed as the company officials are allegedly not cooperating in the forensic audit process, which has been mandated …
Read More »‘Auto sector to face a volatile year’
Industry will witness many landmark disruptions, says MRF Tyre major MRF Ltd. expects the current year to be a tumultuous one for the auto sector on account of various regulatory changes and the switch over to BS-VI norms. “The next six months would see a volatile auto sector on account …
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