That the “unlocking” has been patchy is reinforced by Google footfall data showing that while public mobility has improved in recent weeks across India, states that have higher infection rates are seeing curtailed public movement and economic activity.
In its recommendations on telecommunication interconnection between PSTN and national long distance (NLD) carriers, Trai has said in order to encourage more fixed line services, the telecom services providers should be free to decide the interconnection rates and carriage charges.
The proposal to set up the resolution corporation has gathered momentum after the financial sector witnessed a series of failures and emergence of stressed firms
Calling the Covid outbreak the “worst health and economic crisis in the last 100 years during peace time with unprecedented negative consequences for output, jobs and well-being,” Das cautioned on the road ahead.
RBI Governor Shaktikanta Das said the central bank was prioritising on both growth and financial stability, and has taken several measures to protect the financial system and support the economy during the Covid-19 crisis.
Addressing CII members through a webinar, Anurag Thakur said the government is focussed on reviving growth and asked industrialists to provide specific details on their suggestions of creating export hubs for automotive industry.
The RBI data released on Friday shows that in the week ended July 3, the foreign currency assets expanded by $5.66 billion to $473.26 billion.
Easing of lockdown conditions in May was reflected in a pick-up in manufacturing, capital goods, consumer durables and consumer non-durables output.
The 750-MW solar power project in Rewa was set up by Rewa Ultra Mega Solar Ltd, a joint venture between Madhya Pradesh UrjaVikas Nigam Ltd and Solar Energy Corp. of India. The project has received financial assistance of Rs 138 crore from the Centre.
The US remains the number one source of FDI for the UK, delivering 462 projects and 20,131 jobs, followed by India, Germany, France and China and Hong Kong.
During his address, the Prime Minister also reiterated that “green shoots” of recovery were visible in the country’s economy.
To begin with, the Ministry of Housing and Urban Affairs, in association with a Bengaluru-based non-profit organisation, has launched a new portal to encourage urban local bodies to publish their audited accounts.
The nature of this sudden stop owing to the pandemic will see real growth shift right to a lower trend, with part of the lost output unlikely to be made up for during the year, said Radhika Rao, economist at DBS Group Research.
Credit enhancement entities aid in augmenting the credit ratings of bonds of certain above-investment grade operational infrastructure projects, improving their attractiveness to institutional investors, by proving partial or full credit guarantees.
On June 30, 18.32 lakh e-way bills were generated worth over Rs 54,500 crore, the highest since the enforcement of the lockdown, GSTN said.
Kick-starting the process of LIC disinvestment, the Finance Ministry on June 19, invited bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed IPO.
Banks have turned cautious as reports of consignments being held up at ports continue and duty rates are being revised upwards for certain categories of products.
Amid rising COVID-19 cases across the country, the pickup seems to have been driven by the pent-up demand, raising concerns of excess supplies after this phase, which is then likely to result in a lower-than-expected growth in the second half of 2020-21 financial year.
Equalisation levy at 6% has been in force since 2016 on payment exceeding Rs 1 lakh a year to a non-resident service provider for online advertisements.
After a slow start, private banks are slowly catching up by sanctioning Rs 47,108 crore to 4.19 lakh borrowers under the package.