ECONOMY & NATION


Moneylife Digital Team 23 July 2021
The National Dairy Development Board (NDDB) founded by Dr Verghese Kurien in 1965, has been mired in controversy after controversy, mostly related with its subsidiaries, funding and management affairs. On Friday, the union government told the Rajya Sabha that it had given previous approval to...

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Prime minister (PM) Narendra Modi has often promised that he is determined to double farmer incomes.  He was supposed to do this by this year.    But then, like most promises made, even this is likely to be remembered in the breach than in its...

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The Karnataka High Court on Friday dismissed a plea by Amazon and Flipkart against a probe initiated by the Competition Commission of India (CCI) for the alleged violation of competition law.   A division bench comprising justices Satish Chandra Sharma and Natraj Rangaswamy passed the...

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In a big setback for telecom companies, the Supreme Court on Friday dismissed their plea seeking correction of alleged errors in Adjusted Gross Revenue (AGR) calculation.   A bench headed by Justice L. Nageswara Rao said all applications dismissed. On Monday, the apex court already...

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Moneylife Digital Team 23 July 2021
UK's Cairn Energy and Devas Multimedia Ltd have filed lawsuits in the US to seize overseas assets of Air India to recover dues from the Indian government, minister of state for civil aviation Gen (retd) VK Singh informed the Lok Sabha.   In a written reply, the minister says, "Cairn...

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Moneylife Digital Team 22 July 2021
Welcoming a report presented by a four-member committee headed by former additional chief secretary Vijay Kumar, the Maharashtra Congress on Thursday says the findings of the committee prove allegations of corruption made by the party.    Sachin Sawant, general secretary and...

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A CBI court on Thursday sentenced the then manager of a Bank of Baroda branch and another person to four years rigorous imprisonment in connection with a bank fraud of Rs 2.74 crore.   A CBI spokesperson said that the Special Judge, CBI cases, in Delhi sentenced V.B. Katoria, then...

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Reliance Industries (RIL) said on Thursday that the appointment of Aramco Chairman Yasir Al Rumayyan as an independent director of the company has taken effect from July 19.   On June 24, RIL board had approved the appointment of Yasir O. Al-Rumayyan, as an additional director of the...

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Moneylife Digital Team 22 July 2021
The global banking sector is clawing its way back to normalcy. Authorities' strong support for households and corporates over the course of COVID-19 has clearly helped banks. Lenders were also well-positioned going into the pandemic, after banks bolstered their capital, provisioning,...

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Moneylife Digital Team 22 July 2021
Stressed steel plants, acquired under the Insolvency and Bankruptcy Code (IBC) resolution process are seeing faster returns. Despite the pandemic-linked blips, domestic demand outlook remains strong, which has helped acquirers ramp up utilisation levels, says a research note.   In a...

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The government is examining yet another proposal to see whether other PSU oil promoters of Petronet LNG (PLL) and Indraprastha Gas Ltd. (IGL) could participate in the mandatory open offer to shareholders of these entities triggered post privatisation of Bharat Petroleum Corporation Ltd...

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State-run Gujarat Urja Vikas Nigam Limited (GUVNL) has withdrawn subsidy to small-scale distributed solar projects, affecting about 4000 projects with an aggregate capacity of around 2500 MW signed power.   The purchase price of power produced was fixed at Rs 2.83 per unit which was...

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Moneylife Digital Team 22 July 2021
Alleging tax evasion, the income-tax (I-T) department on Thursday conducted raids on offices of Dainik Bhaskar in multiple cities as well as the home of its promoter at Bhopal in Madhya Pradesh. Separately, the I-T department also reportedly conducting raids in Uttar Pradesh on Bharat...

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Central Railway (CR) services were badly hit owing to boulders falling on rail lines and tracks getting breached due to heavy slush on the Nashik and Pune sections, following torrential rains since the past 24 hours, officials said here on Thursday.   The services were affected after...

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The Central Board of Indirect Taxes and Customs (CBIC) has clarified that extension of time limit for tax-related matters as per recent Supreme Court order is restricted only to quasi-judicial and judicial matters relating to petitions, applications, suits and appeals and will not impact...

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Amitabha Banerjee Amitabha Banerjee 21 July 2021
The story goes that Dhirubhai Ambani had a vision of a phone service that could connect people all over India at a cost lower than that of a postcard.   Not only has this vision come true, but has become even bigger than what Mr Ambani could have even imagined – pan-India phone calls...

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Nipun Saxena (The Leaflet) 21 July 2021
In the first part of a series analysing the legal questions surrounding the Pegasus Project revelations, Nipun Saxena examines Pegasus developer NSO Group’s contractual policy regarding the spyware to uncover some complex constitutional questions, and asks: can the right to carry out...

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Moneylife Digital Team 21 July 2021
The Central Board of Direct Taxes (CBDT) extended till 15 August 2021, the date for submission of form 15CA and form 15CB. Taxpayers can now submit their form 15CA, 15CB online or in manual format with authorised dealers till 15th August.   Due to glitches on the new income tax...

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Moneylife Digital Team 20 July 2021
Owing to the second wave of the COVID pandemic, the Indian economy is likely to mirror a similar trend seen in FY20-21, when the first half of the financial year is weaker and the second half is significantly stronger, says Deepak Parekh, chairman of Housing Development Finance Corp Ltd...

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The government's UDAN (Ude Desh Ka Aam Naagrik) scheme, aimed at enhancing regional air connectivity through fiscal support and infrastructure development, seems to have hit an air pocket.   As of 31 May 2021, only 47% of the total routes and 39% of the airports (unserved and...

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