India is a source of growth for the global economy for the next few decades and it could be what China was for the world economy, the International Monetary Fund (IMF) said on Wednesday as it suggested the country to take steps towards more structural reforms. “India now contributes, in purchasing power parity measures, 15 per cent of the growth in the global economy, which is substantial,” Ranil Salgado, IMF mission chief for India, said. This is next to only China and the US, he added.
Plan and Policy
Plan & Policy
CBI has launched an investigation into the data theft allegations against Cambridge Analytica (CA). The government had asked CBI to find out if CA and Global Science Rese-arch (GSR) had stolen data of Indians from Facebook.
The scandal had rocked the Indian politics with allegations that Congress had hired CA for election campaign services, which was later denied by the party.
Billionaire investor Elon Musk has always done things his own way, from designing space rockets to manufacturing electric cars. Now the Tesla Inc CEO is looking to reengineer how a company can be taken private.
Musk announced on Twitter on Tuesday that he was considering taking Tesla private for $420 per share, or $72 billion, in what would be the biggest deal of this kind. He said the funding for the deal was secured, but did not provide details.
Tesla shares ended up 11 per cent at $379.57, indicating investors gave some credence to the plan.
Undaunted by the failure of Air India sale, the government may put on block the airline’s ground-handling and engineering units soon.
Admitting that the number of reported cases of rape in India was “disconcerting”, an anguished Supreme Court on Tuesday said, “What is to be done? Girls and women are getting raped left, right and centre. As per the NCRB (National Crime Records Bureau) data, 38,947 cases of rape were reported in 2016 which mean everyday, four women are raped. These are reported statistics.”
Addressing a Mahila Adhikaar Sammelan here, Congress president Rahul Gandhi on Tuesday questioned Prime Minister Narendra Modi’s silence on rising incidents of rape, and took a swipe at the government’s campaign of “Beti Bachao, Beti Padhao”, saying it was actually for “saving the daughters from BJP MLAs”, an apparent reference to some BJP leaders accused in rape cases.
Alleging that corruption, economic failure, incompetence and spread of social divisiveness have peaked under the Modi government, Congress president Rahul Gandhi on Tuesday hit out at the government saying people will no longer be fooled by its “bogus promise of achche din”. Addressing the Congress Parliamentary Party (CPP) meeting in Parliament House, Gandhi said, “There is a rising tide of anger against the ruling dispensation and party MPs must strive hard to give people an alternative to the bogus promise of Modiji’s Achche Din.”
Ola has found an opportunity in the UK cab market after Uber got entangled in regulatory hurdles. Having learnt lessons from Uber’s experience, it has devised the right strategies to succeed in a tough market like the UK.
Ola has got licenc-es to operate in South Wales and Greater Manchester and will launch operations in South Wales by next mo-nth. The company is working with local authorities across the UK to expand nationwide by end of 2018.
Promoters’ shareholding in non-family run companies is on the decline, while in case of family firms it is on an uptrend requiring a close vigil on their governance practices, says a study.
According to the study by the Indian School of Business (ISB), promoters of family companies have increased their stake in their firms over the last decade, while state-owned enterprises (SOEs), other business group firms (OBGFs) and standalone non-family firms (NFs) have witnessed a decline in promoter shareholding.
Arun Jaitley, who stepped aside as finance minister in May to undergo a kidney transplant, is likely to resume office in the third week of this month, sources said. Jaitley, 65, who stopped attending office at the beginning of April, underwent a renal transplant operation on May 14. On that day the charge of his ministry was given to Minister for Railways and Coal Piyush Goyal on an interim basis.
Sources said Jaitley is recovering well and is likely to assume the responsibilities of the finance ministry in the third week of August.