Plan and Policy

Plan & Policy

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.

US panel puts minimum pay rider on H1-B visa, Nasscom upset

A key congressional committee has passed a legislation that proposes to increase the minimum salary of H-1B visa holders from $60,0000 to $90,000 and imposes a number of restrictions on the work visa that is popular among Indian IT professionals.

Govt mulls tax discount for online payments

Consumers making payments for goods and services using debit/credit cards or through other online modes could get a 2 per cent discount on the payable goods and services tax (GST), as the government is considering the incentive to boost digital payment. This will include a 1 per cent concession on the central goods and services tax (CGST) and another 1 per cent on the state GST. Going by the proposal, a consumer would have to pay a GST of 16 per cent where the product is in the 18 per cent slab, provided he/she chooses to pay digitally.

UP set for record 10 mt sugar production

Uttar Pradesh, India’s largest sugar producing state, is all set to hit a record 10 million tonnes (mt) production this season.

Mills have so far produced three times more sweetener than last year with better recovery.

Until November 15, mills had produced 5.7 lakh tonnes of sugar this season compared to 1.9 lakh tonnes in the year-ago period, said Deepak Guptara, secretary of the Uttar Pradesh Sugar Mills Association. The recovery (sugar produced from sugarcane) is at 9.53 per cent this year so far as against 9.14 per cent in 2016-17, he said.

India won’t act on smog this year: Officials

As pollution level climbed to 12 times above the recommended limit this week in Delhi, government officials said they knew what was needed to control the haze, but nothing would be done, at least this year.