BUSINESS
India needs a new way to measure growth, replace GDP with gross welfare products: Rajiv Kumar
In an interview to Moneycontrol, Kumar also calls for doing away with tariffs, joining RCEP, revisiting Press Note 3 and balancing growth with climate change concerns.
BUSINESS
Little sympathy for insurers now, they should offer innovative products: Sanjeev Sanyal on GST exemption
Sanjeev Sanyal said there is no pressure on the next generation of entrepreneurs to innovate. "I certainly don't think there is a case for protecting entrepreneurs who feel that they can sit and run family offices from Dubai. Why should we be protecting that?," the EAC-PM member said.
BUSINESS
We can’t wish China away, despite all kinds of friction, says Sanjeev Sanyal
"We have to be pragmatic about this (the relationship with China). Now, that doesn't mean we rush to join Regional Comprehensive Economic Partnership (RCEP),” said Sanyal, adding that there will be many areas where we will collaborate, even as we compete with them.
BUSINESS
Do not want to create another ‘inspector raj’ to enforce GST cuts passthrough: Sanjeev Sanyal
The government has signalled to the industry that GST cuts should be passed through in retail prices, and it will have to be seen 'how that works out', Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister has said.
BUSINESS
Top bankers meet PMO officials, seek more discretion in CEO and board appointments
Some officials in the government are open to re-looking at the RBI’s regulatory authority on this matter, but more consultation and deliberation is needed on this matter.
INDIA
UIDAI chief on how Aadhaar is different from other IDs and why it's not proof of citizenship
In an interview to Moneycontrol, UIDAI Chief Bhuvnesh Kumar said that Aadhaar is not proof of citizenship and explained that anyone can apply for Aadhaar, including children and even foreign nationals, provided they have lived in India for at least 182 days.
BUSINESS
Andhra clears Rs 856-crore package for Syrma SGS to set up India’s largest printed circuit board plant
Syrma SGS will invest of Rs 1,595 crore and the plant will be built in partnership with Korea's Shinhyup Electronics
BUSINESS
Govt nudging private sector for capital spending to counter slowdown risks
"We’ve got some positive response. Hopefully, in some sectors, we would see private capex picking up soon" the person added.
BUSINESS
Centre considering ‘direct-income support’ for MSME workers impacted by Trump’s tariffs
The Centre has prepared a support package worth Rs 25,000 crore under the Export Promotion Mission, to provide affordable credit, improve market access and cushion from the adverse impact of tariffs.
INDIA
Trump’s tariffs not end of world, India has faced bigger crises, says Shyam Saran
President Trump is mercurial. Tomorrow he may decide he wants a deal on terms acceptable to us. Nothing is excluded, but everything is uncertain, says Shyam Saran
INDIA
MC Interview: Petroleum lobby fueling ethanol blending controversy, says Nitin Gadkari | Full transcript
In an exclusive conversation with Moneycontrol’s Shweta Punj, Union Minister Nitin Gadkari spoke about India’s rapid infrastructure expansion, the government’s reform push, the impact of global trade dynamics and the political challenges ahead.
POLITICS
SIR not poll issue in Bihar, BJP to get majority, says Nitin Gadkari
The minister has accused the opposition of being irresponsible and misleading the people on poll roll revision
BUSINESS
PM Modi wants time bound-decision making, transparency: Nitin Gadkari
In an interview with Moneycontrol, Nitin Gadkari said that Prime Minister Modi’s focus continues to be on “reform, perform and transform,” adding that he has urged his ministers to ensure time-bound decision-making.
BUSINESS
Petroleum lobby creating ethanol controversy, says Nitin Gadkari
The minister says claims that ethanol puts engines at risk are ‘completely false’, as everything has been verified on technical grounds
AUTOMOBILE
Auto sector will continue to grow, our exports go beyond US, says Nitin Gadkari as Trump tariff deadline looms
Tatas, Mahindra and Mahindra are making good electric vehicles and won’t be impacted by Tesla’s entry, Union minister Nitin Gadkari said, adding the future of auto industry looks “very good”.
INDIA
India needs to be careful with promises to US during trade talks, says ex-WTO ambassador Jayant Dasgupta
Once agreed to, the decisions won't be rolled back by successive US administrations, says Dasgupta
BUSINESS
Three GoMs to meet on August 20-21 to review Center’s GST recast plan
The recommendations of the three GoMs will subsequently be taken to the GST Council, and officials are hopeful the Council will give its approval by Diwali.
INDIA
Tata Power to develop 700 MW wind power project in Andhra Pradesh
The wind turbines will not just be 'Made in India', but 'Made in Andhra Pradesh' too. With Tata Power's project, wind energy farms will make a comeback in Andhra Pradesh after a hiatus of 6 years.
BUSINESS
India should decouple from US: Madan Sabnavis and Biswajit Dhar weigh in on India’s options
two foremost economists, Madan Sabnavis of Bank of Baroda and Prof Biswajit Dhar, Distinguished Professor, Council for Social Development say that India should decouple from the US, China has done that successfully and extend support to the Indian SME sector.
BUSINESS
India’s choices – Trump tariff tragedy or Russian oil conundrum
Trump’s 50% tariff rate on India is parallel to what the US has levied on Brazil. But the similarity ends right there – India has a lot more at stake in this relationship. India needs a new foreign policy paradigm.
BUSINESS
K. Moses Chalai, Secretary of Dept of Public Enterprises, to be designated as the next Finance Secretary soon?
According to sources, Chalai is the senior most in rank in the finance ministry and is expected to be designated as finance secretary soon.
BUSINESS
Andhra Pradesh approves Electronics Policy 4.0; Syrma SGS, Dixon likely among key beneficiaries
Syrma SGS is set to invest Rs 1,800 crore to build India’s largest PCB manufacturing facility. The proposal is expected to go up for approval next week.
BUSINESS
New I-T Bill intended to simplify language, law remains same on search, seizure, says tax panel chief Panda
BJP vice president and chair of select committee on new I-T bill Baijayant Panda explained the new tax law has tweaked the language to adjust to the digital era, but the law remains the same
INDIA
'EC timeline for a special intensive revision requires a review': Ashok Lavasa, Former Election Commissioner
The last special intensive revision of electoral rolls happened in 2003, the method used then was very different than what is being used now. A special intensive revision needs more time - Ashok Lavasa on the special intensive revision of electoral rolls ahead of Bihar elections.
