All stories by Ruchika Chitravanshi
States' borrowings at 60% of Dec target
Rediff.com5 days agoStates are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources. Government officials said the lower-than-projected borrowings by states were a sign of prudent fiscal management by them. States announce their borrowing plans every quarter.
Urban demand stress under watch, festivals may boost consumption: FinMin
Rediff.com29 Oct 2024Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestl India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
Can't accept FDI blindly, need safeguards: Sitharaman
Rediff.com24 Oct 2024India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday. "I cannot blindly accept FDI simply because we need investment, unmindful of where it is coming from. "We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive," Sitharaman said.
155,000 Apply For 91,000 Internships
Rediff.com14 Oct 2024A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
Internship Portal To Open Sat Evening!
Rediff.com12 Oct 2024Internship opportunities have been posted by 193 companies, including Jubilant Foodworks, Maruti, Eicher Motor, L&T, Muthoot Finance and Reliance.
'Living Standards For Indians Will Rise Steeply'
Rediff.com5 Oct 2024'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
New Gold Bonds Depend On Market Conditions
Rediff.com28 Sep 2024The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
Financial regulators back ISA 600 for auditors of listed companies
Rediff.com3 Sep 2024The National Financial Reporting Authority (NFRA) will invite public comments on the revised International Standard on Auditing 600 (ISA 600) proposed to be adopted by publicly listed companies and non-public-sector banks, sources close to the development told Business Standard. The decision to take this "graded approach" for the adoption of the ISA, which is meant to rein in auditors often found hiding behind the audit reports signed off by subsidiary companies, was taken at a meeting of various financial sector regulators at NFRA's board meeting on Monday (August 26). The idea behind upgrading the Standards of Audit 600 currently followed by Indian auditors to ISA 600 is to plug current gaps, which have led to major audit lapses in the recent past.
Cross-border share swaps eased by govt
Rediff.com19 Aug 2024The Union Finance Ministry on Friday announced key amendments to foreign exchange (forex) regulations, including mandating government approvals for all investments originating from countries that share land borders with India. The latest amendments also seek to simplify cross-border share swaps and streamline key definitions, such as "control". The updated regulations have aligned the treatment of downstream investments made by overseas citizen of India (OCI)-owned entities with those owned by non-resident Indians (NRIs) on a non-repatriation basis.
Nirmalaji Wants To Bring Taxes To Nil But...
Rediff.com14 Aug 2024'... there are challenges to overcome and the country needs money for that.'
Budget 2024: FM exhorts states to take up next-gen reforms agenda
Rediff.com24 Jul 2024In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
'Private Sector Must Create Jobs'
Rediff.com25 Jun 2024'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
ICAI, MCA secretary discuss road map to create big Indian companies
Rediff.com24 Jun 2024The Institute of Chartered Accountants of India (ICAI) has held discussions with ministry of corporate affairs (MCA) secretary Manoj Govil on the 'Aggregation of CA Firms' and the roadmap to create big Indian firms, a press statement by ICAI said.
I&B holds meet to discuss Big Tech revenue sharing
Rediff.com13 Jun 2024The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.
Beneficial ownership norms in focus as MNCs face scrutiny
Rediff.com12 Jun 2024The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny. "Companies are closely watching this space.
Nirmalaji 1st FM To Present 7 Budgets
Rediff.com11 Jun 2024Ensuring that government capex crowds in private investment will be one of her challenges.
Moody's Concerns Over Coalition Challenges
Rediff.com8 Jun 2024Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term.
Will Raebareli Also Go The Amethi Way?
Rediff.com16 May 2024'Sonia did not visit this place once since she won. Who's to say they won't lose this one, too?'
Amethi Misses Rahul Vs Smriti Contest
Rediff.com14 May 2024'If the Congress loses this time, Rahul Gandhi will not look back at Amethi ever again.'
Getting future-ready: Govt may tweak IBC to factor in climate change
Rediff.com7 May 2024The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.