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Package includes direct assistance of Rs.41.63 bn to farmers linked to 5 mn tonnes export. With sugarcane arrears stubbornly remaining around Rs.130 billion ahead of new crushing season that begins next month,entral government approved a fresh Rs.55.38-billion package for the sugar industry of which almost 75 %t will be directly paid to growers provided mills […]

Union Cabinet on Wednesday has cleared a new telecom policy, which aims to provide broadband to all, create an additional four million jobs and get $100 billion investment in the digital communications sector by 2022. Objectives of the National Digital Communications Policy (NDCP) 2018 include enhancing the contribution of the digital communications sector to 8 […]

Pravasi chit fund launched by Kerala government has evoked good response from NRIs in UAE. Fund for mobilising funds for the infrastructure development in the state has got 1.25 lakh leads from UAE within a fortnight of its launch, according to Kerala finance minister T M Thomas Issac. Pravasi chit fund targeted at NRIs, is […]

Roping in Oil Ministry of Adnoc for contentious Ratnagiri refinery project is at variance with FinMin’s announcement of $200 million investment in NIIF fund. On Monday morning, India brought in Abu Dhabi National Oil Company (Adnoc) as 2nd foreign investor after Saudi Aramco, to invest in the proposed Ratnagiri Refinery & Petrochemicals (RRPCL) project. Estimated […]

It will be subject to Foreign Direct Investment Policy conditionalities and other sectoral regulations or guidelines. Government on Wednesday approved the proposal of HDFC Bank to raise additional capital Rs.240 billion by selling equity to foreign investors to fund its business growth. This includes premium, over and above the previous approved limit of Rs.100 billion, […]

In relief for the banking sector, the government cleared the ambiguity over goods and services tax (GST) on ‘free services’ offered to customers. The Centre said these will not attract GST. Ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime. That issue is yet to be sorted, […]

State-run Power Finance Corporation is aiming to get a provision write-back of over Rs.800 crore through upgradation of distressed government assets in the current financial year,. Out of the total government loans as on March 31, 2018, nearly 89% or Rs.2.03 lakh crore are standard assets, nine per cent or Rs.19,167 crore are restructured standard […]

SJM asked government to ensure that the interests of those at the bottom of the pyramid in retail and agriculture space are guarded. Retailers on Wednesday termed Walmart’s majority stake acquisition of Flipkart as a ‘backdoor entry’ into India’s retail trade and demanded the Centre bring a policy to regulate online trade. Farmers’ organisations said […]

Government is considering allowing 100% foreign direct investment (FDI) in insurance intermediaries with a view to give a boost to the sector and attracting more funds,. Intermediary services include insurance broking, third party administrators, surveyors and loss assessors. FDI policy, at present, allows 49% foreign investment in the insurance sector, which includes insurance intermediaries. Sources […]

Export-Import Bank (Exim Bank) today said it will provide a USD 500 million credit facility to ECOWAS Bank for Investment and Development (EBID) to fund various development projects in the western-south Africa. Line of credit of USD 500 million to EBID will finance various development projects in the ECOWAS region, Exim Bank said in a […]