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Telecom industry revival package: Telcos get cash flow boost as Cabinet clears relief package

While telecom industry veterans like Sunil Bharti Mittal and Mukesh Ambani welcomed the relief measures, analysts said apart from the cash flow relief component, companies would not benefit much as most of the measures are linked to future spectrum auctio
The relief measures come into effect from October 1.

Tata group among bidders for debt-laden Air India

Only the bids of investors who have received security clearance from the ministry of home affairs will be opened soon, official sources said.

The AI sale will be the first incidence of outright privatisation of a state-owned firm in the country after a gap of 17 years.

Jet ready to take off in early 2022

The process of reviving the carrier is on track, with the existing air operator certificate (AOC) already under process for revalidation, the consortium said, adding that it is working closely with th

Senior members of the Jalan-Kalrock consortium visited key airports last month and held meetings with them, accompanied by an operations team led by the carrier’s newly appointed acting CEO Sudhir Gaur.

Bank loans to NBFCs grow slower as credit to small lenders dries up

Credit outstanding to non-bank lenders has been growing in the low single digits through much of the current year, with banks’ NBFC book actually shrinking 2.2% y-o-y in June 2021.

credit to small lenders

New Incentives: Mega textile parks near ports to boost exports

Such mega parks will be able to better draw overseas buyers by offering a broad range of products and cater for large orders, given the greater synergy among its resident entities.

mega textile parks

Atal Pension Yojana: Income losses force workers to opt out

Meanwhile, the government is considering combining APY with two popular insurance schemes – Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana

atal pension yojana

Chip Shortage: Production-linked incentive scheme for IT hardware likely to be extended by a year

As is known, under the PLI, manufacturers are expected to meet the incremental production and sales target every year during the tenure of the scheme against the base year.

Chip Shortage: Production-linked incentive scheme for IT hardware likely to be extended by a year

Real Estate trends: Housing supply and demand set to grow this festival season

In Mumbai Metropolitan Region (MMR) alone, consultants expect 2 million sq ft of launches in the coming festive months with 25-30 big launches planned.

Real Estate sector

Airtel not keen on low-cost phones; so far Reliance Jio only player to announce plans for hardware

As per Bharti, the learning from other geographies suggests that the consumers have shown a high propensity to switch service providers as subsidies are phased out eventually.

bharti airtel

Collapse of consumption, return of labour to agri testimony to policy failure: West Bengal finance minister Amit Mitra

Persistent inflationary trend has also eaten into the meager consumption expenditure of the common people and has reduced their real income, he noted.

“The Gross Fixed Capital Formation (GFCF) in Quarter-1 of 2019-2020 (before pandemic) was Rs. 12.3 lakh crore. This fell to Rs 10.2 lakh crore in Q1 of 2021-22 - a fall of investment by Rs 2.1 lakh crore, despite your numerous ‘packages' and corporate tax cuts,” he wrote.

High shipping costs: Scheme to aid farm exporters back & fortified

The TMA scheme, introduced in March 2019, was initially applicable for exports undertaken up to March 31, 2020. Subsequently, it was extended up to March 31, 2021.

Chip shortage: Jio-Google smartphone launch delayed, now expected during Diwali festive season

Low-cost phone slated for Sept 10 will now come by Diwali

JioPhone Next is a first-of-its-kind device featuring an optimised operating system based on Android and Play Store.

Setback for DMRC: Supreme Court upholds over Rs 4,600-crore arbitral award in favour of Reliance Infra

Soon after launching a joint public private partnership to build, operate and run the Airport Express line on August 25, 2008, DMRC and DAMEPL’s pact had fallen apart over some issues. Subsequently,

A bench led by Justice LN Rao while upholding the arbitration award in favour of DAMEPL, set aside the Delhi High Court’s division bench’s order that had set aside the arbitration award.

Big relief: Govt to clear Rs 56,000-crore dues owed to exporters

India has witnessed a surge in outbound shipments this fiscal and the expeditious clearance of dues will help the country achieve a rapid pace of export growth, Goyal said.

Supreme Court stays all Delhi HC proceedings in Future-RIL deal: Sebi, CCI, NCLT told not to pass any order for 4 weeks

The judge had also asked for attachment of the assets of Biyani and other directors, and had asked them why they should not be sent to prison for breach of the EA’s interim order.

The judge had also asked for attachment of the assets of Biyani and other directors, and had asked them why they should not be sent to prison for breach of the EA’s interim order.

Byju’s valued at near $17 billion: Raises $150 million; eyes $21 billion in valuation

The Bengaluru-based edtech firm that has raised a lot of capital from investors through 2020 and 2021 will use the bulk of the funding to finance its spate of acquisitions.

The fundraise almost coincides with the firm’s acquisition of online test prep platform Gradeup, announced earlier this week.

Textiles get Rs 10,683-crore PLI boost, cotton out: Investors in select MMF, technical textile facilities to get up to 15% incentives for 5 yrs

The incentives will be provided for incremental production in 40 man-made-fibre-based garments, 14 MMF-based fabrics and 10 technical textile segments, textiles secretary UP Singh told FE.

Similarly, those investing at least Rs 100 crore will get 11% in the first year if their turnover hits Rs 200 crore or more. After the first year, both the categories of investors will have to show a 25% incremental turnover annually.

Retail Mutual Funds investors turn cautious in August

According to NS Venkatesh, chief executive officer of Amfi, the robust monthly mobilisation in arbitrage, dynamic asset allocation, thematic/sectoral and diversified flexicap schemes has overshadowed

Telecom SOS: Cabinet may take call on telecom relief package today

Though financially-troubled Vodafone Idea has been at the forefront of demanding a relief package, sources said that it would not be tailor-made for any specific company but would be for the entire se

The reduction in the licence fee by two percentage points would provide a relief of around Rs 3,000 crore annually to the operators.

Sri Lankan forex crisis worries exporters

Of course, Lankan importers haven’t yet defaulted on payments but such issues will surface soon if the forex crisis there isn’t stemmed swiftly, Indian exporters fear.

Although Sri Lanka and Afghanistan are still small markets for India, expeditious resolution of any trade issues with these countries will help those, especially small businesses, that are supplying to these nations.

Edtech Boom: Byju’s buys online test prep platform Gradeup

Gradeup has been rebranded as Byju’s Exam Prep. Byju’s will tap into Gradeup’s student reach with the acquisition while strengthening its presence in the growing online competitive examination p

The firm has spent over $2 billion on acquisitions so far this year including Indian rival Toppr which is yet to be officially announced by the company.

IBC: New code for CoCs to bring in discipline, say analysts

However, care must be taken to ensure that unscrupulous elements and defaulting promoters don’t get to delay resolution by resorting to frivolous litigations that question the CoC’s compliance, th

In a corporate insolvency resolution process (CIRP), the competitive process runs for a substantial period, following which the highest resolution applicant is discovered.

Stern Words: SC raps Centre over ‘tribunal reforms’, warns of contempt

Top court sees ‘pattern’ in govt overturning judicial orders

“We are upset... but we don't want confrontation with the government," the CJI told Mehta, who said that “government doesn't want confrontation either.”

PLI Schemes: Chinese firms to be let in; MeitY assures industry that supply chains won’t be disrupted, other ministries to follow suit

Though the assurance has been given by the ministry of electronics and IT to the hardware industry executives, who had made a representation to the government in this regard, sources said that other a

But finally when the names of the selected companies were announced in May, the production target was slashed to Rs 1.60 lakh crore of which exports would be of the order of Rs 60,000 crore.
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