ECONOMY & NATION


Moneylife Digital Team 03 May 2016
In his resignation letter, the former Chief Secretary of Kerala alleged harassment and subsequent removal of dissenting independent directors for not toeing up the line by Dhanlaxmi Bank’s CGM Manikandan and MD & CEO G Sreeram   K Jayakumar, a retired Indian Administrative Services...

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Amit Kapoor (IANS) 03 May 2016
In comparison to the services sector, the manufacturing sector has been clearly a laggard   Manufacturing in India has not been particularly strong. This is because of a host of reasons emanating from the India's socialist era. Prominent among these include labour laws resulting in...

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The resignations would be effective from the closing business hours of May 1, the company said   Future group chairman Kishore Biyani resigned from the post of managing director of Future Retail Ltd (FRL) as a part of rearrangement of the group's business, the company said on...

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New Delhi:  More than 55 percent of the 28.77 million individual assesses in India who filed their returns for 2012-13 paid zero tax, while three at the top-end had to shell out as much as Rs.437 crore collectively, as per latest data from the finance ministry.   As per the Central...

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New Delhi: Liquor baron Vijay Mallya, whose passport has been revoked by the government, on Monday resigned from the Rajya Sabha.   He sent his resignation to Rajya Sabha Chairman Hamid Ansari on Monday, sources said.   The resignation has come after the Ethics Committee of...

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Chennai/Kolkata/New Delhi: Indian automotive makers opened the new fiscal with positive sales growth while hoping for a favourable verdict in the apex court over the sale of diesel engine-powered vehicles.   India's largest car maker Maruti Suzuki India Ltd logged 13.3 percent rise in...

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Moneylife Digital Team 02 May 2016
The bank defaulters' list published by Newslaundry has names of defunct companies. There is also no mention of big defaulters like Winsome Diamonds, Electrotherm, Sterling Biotech and S Kumars Nationwide. Is the list an old one?   News portal Newslaundry.com has published top 10 names...

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Abhishek Waghmare (IANS) 02 May 2016
Employment shrank over two quarters of four in 2015, the first time since the 2008 global financial crisis, according to the latest data from the Labour Bureau’s Quarterly Employment Survey   India will need to generate 280 million jobs between now and 2050, the year when the...

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Sunil Mahajan 02 May 2016
The fact that the Modi government is depending largely on the bureaucracy for bringing in transformation does not provide much hope   The current National Democratic Alliance (NDA) government, led by Narendra Modi, has governed the country for two years. Assessment of its performance...

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New Delhi : As Indian agencies step up efforts to bring industrialist Vijay Mallya back to the country and recover much of the Rs.9,000 crore his companies allegedly owe banks, a key member of Prime Minister Narendra Modi cabinet cautions that every defaulter mustn't be labelled a...

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London : Metals major Liberty House, founded by India-born industrialist Sanjiv Kumar Gupta, confirmed on Monday that it will formally bid for the UK assets of Tata Steel, which are on the block after Tatas suffered nearly $3 billion in losses thus far.   “We can confirm that Liberty...

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Kolkata : Non-productive expenditure of state governments remain a cause for worry and their growing liabilities need redressal, even though there has been some improvement in this regard, the Reserve Bank of India (RBI) has said in a report.   "The rising trend in the committed...

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New Delhi : The Supreme Court's ban on plying of diesel and petrol driven taxis in Delhi took effect on Sunday, with three taxi owners warning this might lead to suicides in frustration.   Cab operators termed the apex court's decision tyrannical, saying if the decision was not...

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New Delhi : India can save up to $50 billion by bringing down logistics costs to 9 percent from the current 14 percent of the country's GDP, according to a joint study by industry chamber Assocham and Resurgent India released on Sunday.   "India can save up to $50 billion if logistics...

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New Delhi : Parliament's Public Accounts Committee has voiced serious concern over irregularities and widespread misuse of the 100 percent export oriented units (EOUs) scheme and has called for a detailed inquiry into the "rampant abuses".   "They (PAC) accordingly recommend that a...

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New Delhi : State-run oil marketers on Sunday hiked prices of non-subsidised cooking gas, non-PDS (public distribution system) kerosene and aviation turbine fuel (ATF), following their increasing petrol and diesel prices late on Saturday night.   The price of non-PDS kerosene has been...

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Moneylife Digital Team 30 April 2016
Appeals to the Maharashtra Chief Minister to resolve the water supply crisis   The hotel industry in Mumbai heavily relies on the water supplied by private tankers, in addition to what it gets from the Brihanmumbai Municipal Corporation. On average, hotels in Mumbai required 50-60...

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Shimla : The cash-strapped Himachal Pradesh State Forest Development Corp Ltd had accumulated losses of Rs.52.75 crore till the end of fiscal 2014-15 due to cartelisation by purchasers, the Comptroller Auditor General of India (CAG) has said.   The CAG said the cartels resulted in the...

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Bengaluru : The Debt Recovery Tribunal (DRT) on Friday questioned liquor major Diageo for not yet submitting the specifics of $75 million severance package committed to embattled businessman Vijay Mallya.   "In my earlier ruling as well, I had directed the company (Diageo) to furnish...

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Meghna Mittal (IANS) 29 April 2016
Corruption, policy uncertainties and slow implementation have constrained our assessment of India's institutional strength   New Delhi : Fiscal consolidation and moderate inflation are definite pluses for India, but graft, uncertain policies and their weak execution remain key...

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