The Indian telecom market is “brutally challenging” and has only seen the beginning of many disruptions to come, telecom secretary Aruna Sundararajan said on Thursday. This however, offers ample growth potential to not only draw massive investments but also ensure profitability, she added.
Plan and Policy
Plan & Policy
The real estate industry apex body, CREDAI said the government has to make a few policy corrections to support and sustain the growth and development of realty sector across the country.
In view of real estate being subject to both GST and stamp duties, the rate of GST on real estate which stands at 12 per cent, needs to be reduced to 8 per cent across all segments and not just for houses of up to 60 square meters, said CREDAI in its list of recommendations.
India will settle oil contracts with Iran in rupee and the Persian Gulf nation will use half of these funds for making payments for Indian goods exported to Tehran, industry sources involved in the discussions on new payment mechanism said on Thursday.
A memorandum of understanding (MoU) in this regard has already been signed between the two countries last month. The MoU follows US decision to let India and seven other nations to keep buying Iranian oil despite sanctions on the Islamic state that became effective from November 5.
In a bid to bring transparency in political advertisements in the run-up to 2019 general elections, Facebook on Thursday made it compulsory for advertisers to disclose their identity and location before any such advertisement material can be run on the popular social media platform and Instagram.
Beginning early next year, Facebook will also start showing a disclaimer on all political advertisements by providing details of those placing the advertisements.
The telecom sector will move to 5G by 2022 and access to digital platform will become highly advanced in the next five years, Trai secretary S K Gupta said on Thursday.
He also said the use of artificial intelligence and big data analytics is going to modify the consumer behaviour. Gupta further said there has been a dramatic change in media industry landscape and adoption of new technology will be key to success.
Fitch Ratings on Thursday projected rupee to fall to 75 to a dollar by end of 2019, on widening of current account deficit and tighter global financing.
The Indian rupee is currently trading at a two-week low level, hovering around 71 to a US dollar.
In its global economic outlook, Fitch said it expects inflation to edge up mildly in the coming months, on normalising food prices and higher import prices stemming from the depreciation of the rupee.
Fitch ratings on Thursday slashed India’s GDP growth forecast to 7.2 per cent for current fiscal, from 7.8 per cent projected in September, citing higher financing cost and reduced credit availability.
The Supreme Court on Thursday reserved its judgment on the removal of Alok Verma as the CBI director by the government following a feud between him and deputy special director Rakesh Asthana. The government had intervened after the two warring officers levelled serious charges of corruption against each other. Verma was sent on leave in October, along with his deputy Asthana.
Cash-strapped Jet Airways has sought a soft financing of $350 million from its investment partner Etihad Airways, as it continues to hold discussions with the latter to offload additional stake in the carrier, revealed an airline source on Thursday.
Some of the ministers in the UPA government could be in trouble. The Enforcement Directorate (ED) is expected to summon them in connection with an alleged scam involving a purchase contract of Airbus aircraft for Air India. The names of the ministers, however, have not been disclosed by the investigating agency yet.
The ministers are under ED’s lens over the purchase of 43 aircraft by public sector carrier Air India from French aerospace giant Airbus.