India’s fundamentals demand much better rating: CEA
New Delhi: India’s fundamentals demand a much better rating, Chief Economic Advisor Krishnamurthy Subramanian said on Thursday after Moody’s downgraded the country’s rating and S&P retained it at the lowest investment grade. India’s ability and willingness to repay debt is gold standard, he said making a case for ratings upgrade. He took comfort in rating […]
Finmin proposes to decriminalize host of minor offences under 19 legislations
New Delhi: The Finance Ministry has proposed to decriminalise a host of minor offences, including those relating to cheque bounce and repayment of loans, in as many as 19 legislations to help businesses tide over the crisis caused by the coronavirus outbreak. The 19 legislations include Negotiable Instruments Act (cheque bounce), SARFAESI Act (repayment of […]
Govt extends validity of certain e-way bills till June-end
New Delhi: The government has for the third time extended the validity of e-way bills generated on or before March 24 till June 30. “Provided that where an e-way bill has been generated under rule 138 of the Central Goods and Services Tax Rules, 2017 on or before the 24th day of March, 2020 and whose validity […]
Petrol price hiked by 40 paise per litre, diesel by 45 paise
New Delhi: Petrol price on Wednesday was hiked by 40 paise per litre and diesel by 45 paise, the fourth straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision. Petrol price in Delhi was hiked to Rs 73.40 per litre from Rs 73, while diesel rates were increased to […]
Bharatmala Pariyojana to get delayed by 4 years: ICRA
New Delhi: The first phase of the ambitious Bharatmala Pariyojana (BMP) that was scheduled for completion in 2021-22 is now likely to get completed by 2025-26, rating agency ICRA said on Wednesday. Till February 2020, a total of 246 road projects with an aggregate length of about 10,100 km were awarded under BMP Phase-I at […]
FM reviews progress of Rs 3 lakh crore credit guarantee scheme for MSMEs
New Delhi: Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-lakh crore ECLGS for MSME sector, hit hard by coronavirus-induced lockdown. The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through […]
Just 5% of India Inc bullish on hiring in Jul-Sep qtr, job outlook bleakest in 15 yrs: Survey
New Delhi: India’s job market looks grim with just 5 per cent of companies planning to add more staff in the next three months as corporates gear up for the post-lockdown era with a wait-and-watch policy, a survey said on Tuesday. According to the ManpowerGroup Employment Outlook Survey that covered 695 employers across India, the […]
India’s sovereign rating downgrade created six ‘fallen angels’: Moody’s
Mumbai: India’s sovereign rating downgrade has created six “fallen angels”, or companies in the non-financial sector whose ratings have dipped to just one notch away from being considered junk, global ratings agency Moody’s Investors Service said on Tuesday. Companies that move from investment grade category to sub-investment grade are sometimes referred as “Fallen Angels”. All […]
Hand Tools Association seek govt support to boost mnfg, exports of engineering goods
New Delhi: MSMEs body Hand Tools Association on Tuesday suggested a host of steps to the government such as tax incentives, modern infrastructure and special focus on small and medium enterprises with a view to boost local manufacturing and exports of engineering goods. Hand Tools Association President S C Ralhan said aggressive boost from the […]
FHRAI issues guidebook for hotels, restaurants to prevent COVID-19 spread
New Delhi: Apex industry body FHRAI on Tuesday said it has issued a guidebook listing all measures to be taken by hotels and restaurants to ensure prevention of COVID-19. The comprehensive guidebook covers all functions of hotels and restaurants that are essential to everyday operations. From guest rooms and room service to housekeeping to laundry […]
