Plan and Policy

Plan & Policy

Modi, Putin hold ‘intense’ talks on bilateral issues

Russian president Vladimir Putin and prime minister Narendra Modi had "very intense" discussions on bilateral and global issues that would provide the guidelines for the further development of India-Russia special privileged strategic ties, Russian foreign minister Sergey Lavrov said on Monday.

CAIT to move CCI against Flipkart-Walmart deal

Retailers have joined hands to approach   fair trade regulator CCI against $16 billion Walmart-Flipkart deal as they apprehend that the it would lead to massive job loss and be a "nightmare for retail trade" of the country.

Traders body CAIT in a strongly worded statement alleged ruling party BJP of bias towards multinational companies and deviating from its commitment made in 2014 election manifesto.

Gems & jewellery exports dip 22% in April

India's gems and jewellery exports have declined 22 per cent to $ 2.6 billion in April on account of demand slowdown in major markets including the UAE.

Exports in April 2017 stood at $ 3.31 billion, the Gem and Jewellery Export Promotion Council (GJEPC) of India said.

Major export destinations for the sector include Hong Kong, the UAE and the US. The three countries account for over 80 per cent of the country's total exports of gems and jewellery.

FinMin rules out raising equity investment limit for pension funds

The finance ministry has no immediate plan to raise pension funds’ investment limit to over 15 per cent in the equity market. The government perceives any loss in value of the funds due to volatility would prove costly to the government.

“No, there has been no discussion on raising the limit of investing in equities from the current 15 per cent for the government employees. May be there will be some more maturity needed in the stock market. The proposal is still on the table, but not under active consideration,” an official source said.

Bit late in the day, Infy spells out digital plans

Infosys is waking up to digital era, albeit too late. While rival TCS has already embraced digital and reaped rich dividends, Infosys, once the bellwether, has been slow to adopt new strategy in the fast changing tech world. Now, chairman Nandan Nilekani has spelt out its digital plans.

Modi to kick off poll campaign from Varanasi

Prime Minister Narendra Modi will flag off his campaign for the 2019 Lok Sabha elections from his constituency Varanasi. The prime minister, according to party sources, is likely to visit Varanasi in mid-June and he will be accompanied by BJP president Amit Shah. With the rally in Varanasi, the prime minister has an eye on Bihar, which is an adjoining state.

CBI files damning charges against ex-PNB chief Usha

In damning charges against Usha Ananthasubramanian (in pic), the CBI has said that the former MD and CEO of the Punjab National Bank was aware of “fraudulent” dealings with diamond merchant Nirav Modi but kept “misleading” the RBI.

In a 12,000-page chargesheet, the CBI has further claimed that senior officers from the Nirav Modi Group, including accused Vipul Ambani, were constantly meeting Ananthasubramanian in order to continue with the credit facilities to the group.

Airlines may get nod to tap ECB window for low-cost funds

Domestic airlines such as Jet Airways, IndiGo and SpiceJet can now hope that they will be allowed tap the external commercial borrowing (ECB) window for raising funds at low cost. The nodal civil aviation ministry has requested the finance ministry and the Reserve Bank of India (RBI) to bring back the earlier scheme that allowed air operators to raise funds through this route with a cap of $1 billion. It has also asked for widening the scope of such window to use ECB funds for local sourcing of aircraft and import of other capital goods.

Oil roils economy

Brace up for petrol prices climbing over Rs 100 a litre with global oil prices on the run and the government reluctant to tinker the high levels of duty on petroleum products to save its revenue stream.

Tier-II cities driving growth in domestic aviation sector

Tier-II cities like Ranchi, Surat, Vijayawada, Bhuba­n­eswar and Varanasi are driving the aviation growth story in the country, with an impressive rise in passenger traffic in the past year, according to data compiled by the Airports Authority of India (AAI).

The 26-per cent growth in the domestic aviation sector was largely because of the demand that is being generated from these tier-II cities and the addition of new routes and services, an AAI official said. The regional connectivity scheme is another factor for the rise in traffic, the official added.

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