Plan and Policy

Plan & Policy

Dynasty a ‘lazy’ word for political succession, says Jairam

The debate on ‘dynastic politics’ on Sunday found an elaboration with Congress leader Jairam Ramesh calling it a “lazy” word coined to describe succession in politics. Ramesh was speaking at a discussion ‘Remembering Indira Commemorating Her Centenary’ at the Tata Litfest 2017 here. “Did Nehru launch a dynasty? No. Did Mrs Gandhi select her successor? Well, it appears that she did select her successor, but my views on dynasty in politics are somewhat different. I think ultimately, people have to go back and get elected. People are accountable.

Budget deficit may rise in FY18, fall later

Lower taxes and higher public expenditure could widen budget deficit in 2017-18, but steps taken by the government to broaden the tax base and improve spending efficiency would help in narrowing it going forward, US-based rating agency Moody’s said.

In an interview to PTI, Moody’s Investors Service vice-president (sovereign risk group) William Foster said the agency believes that the government’s commitment to fiscal consolidation remains and sustained growth would help it reduce debt burden.

Trai likely to back Reliance Jio’s cashback offers

Reliance Jio’ s recently launched cashback offers scheme will sail smoothly, as the telecom regulator Trai does not find any non-compliance issues with it.

The Mukesh Ambani-led Reliance Jio offer is facing charges levelled by GSM operators’ Cellular Operators Association of India or Coai, for submitting possible below cost tariff under the garb of such schemes.

PM’s pet GeM portal contract goes to loss making firm

The awarding of a Rs 1,000 crore contract for one of prime minister’s pet projects, GeM portal, to a small and a loss making company has raised eyebrows in the country’s IT circles. The Government e-Marketplace (GeM), under the Union commerce and industry ministry, has awarded this ambitious and innovative online e-commerce portal to a consortium led by Chennai-based Intellect Design Arena. The consortium also includes e-commerce company Infibeam.

Out of the box thinking behind new J&K Guv selection

With J&K governor NN Vohra having been appointed Tribune Trust president after the Chandigarh-headquartered newspaper’s apology for the Majithia drug syndicate story earlier this month, the government is keen on replacing him in the troubled state.

Immediately after the unsavoury episode of an ‘unconditional apology’ rendered by The Tribune for ‘illegal drug syndicate’ charges against Akali leader Bikram Singh Majithia, the newspaper’s Trust went ahead and changed its president Justice SS Sodhi with J&K governor NN Vohra.

Not many takers for Open Sky policy

Over a year after the National Civil Aviation Policy (NCAP-2016) was launched and the government offered an “Open Sky” policy to 54 countries, only a dozen of them have so far opted for the deal.

India may not have to wait 13 yrs for next upgrade: SBI report

With the government committed to fiscal consolidation, India might not have to wait for 13 long years for next sovereign upgrade by a rating agency, a SBI research report said today.

The US-based Moody's this morning upgraded India's sovereign credit rating by a notch to 'Baa2' with a stable outlook. The upgrade comes after a gap of 13 years.

Finance Minister Arun Jaitley has termed the upgrade as a "belated recognition" of reforms in the last few years, and vowed to continue them while maintaining fiscal discipline.

At $44.8b, Mukesh Ambani’s is Asia’s richest family, Lee’s 2nd

The Mukesh Ambani family is the richest in Asia as its net worth rose $19 billion to $44.8 billion, toppling the Lees of the Samsung empire, to claim the numero uno position, Forbes said.

Despite dropping to the second spot, Korea’s Lee family still saw its wealth soar by $11.2 billion to $40.8 billion this year as shares of Samsung Electronics moved up 75 per cent over the past year.

Hiring in manufacturing to stay flat in near future

Despite the much-hyped ‘make in India’ campaign and jump in the ‘ease of doing business’ list, hiring in the manufacturing sector has been down in the past several quarters and is likely to remain flat at least for the next couple of quarters. 

IIFL’s 5Paisa Capital lists with huge price difference

IIFL Holdings’ subsidiary 5Paisa Capital listed on the bourses on Thursday as the first listed financial marketplace in India. But the price discovery process for the demerged business led to a huge difference in its listing price on BSE and NSE.

On the BSE, 5Paisa capital listed at Rs 650 a share while on the NSE it listed at Rs 400 per share.

The demerger of 5Paisa Capital from IIFL Holdings was announced last year in October.