India’s 75th Independence Day calls for something unique and India Inc is stepping out in an unusual way to celebrate it, along with employees, customers and business partners. On the other hand, reflecting the increase in profits of their companies, the managing directors and promoters of India’s major listed companies have largely benefited from the boom of the previous financial year. Read more about it in our main titles.
Freedom at 75: from Jio to Tata Steel – India Inc launches the Tiranga theme
Over the next few days, a visual feast will greet passengers at Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) with arts and cultural heritage on display. India’s 75th Independence Day calls for something unique and India Inc is stepping out in an unusual way to celebrate it, along with employees, customers and business partners. The CSMIA run by Adani-Group, for example, does not stop at an artistic and cultural spectacle at Terminals 1 and 2. Read more
Raking the Moolah: CEO Profits Rise Along with Corporate Profits
Reflecting the increase in profits of their companies, the managing directors and promoters of India’s major listed companies benefited greatly from the boom of the previous financial year. Their compensation includes salaries, perquisites or perks and profit-related commissions. There has been an increase in profit-related commissions for CEOs and Chief Experience Officers (CXOs) in sectors such as Metals and Mining, Other Commodities, Information Technology and Industrials pharmaceutical. However, salaries do not include employee share ownership. Read more
Health and education were never called gifts: FM Sitharaman
Health and education are fundamental principles of a welfare state and no Indian government has ever denied them, Finance Minister Nirmala Sitharaman said on Thursday. His comments came against the backdrop of an ongoing Supreme Court hearing on the issue of populist, or “free” programmes, and an accusation by Delhi Chief Minister Arvind Kejriwal that the central government is opposed free health care and education. Read more
RBI guidelines can lead to high compliance costs for digital lending apps
The fintech universe is looking positively at the digital lending framework put in place by the Reserve Bank of India (RBI), as the strict standards are likely to solve the problem of illegal entities lending to economically weak people. However, industry players say joining the framework is likely to increase their compliance costs and increase the operational complexity of their business models, leading to a brief period of slow growth in this space. Read more
Concerns about runaway inflation and the CAD seem to have faded
With commodity prices falling on fears of recession in advanced economies, worries about runaway inflation and the current account deficit (CAD) have eased in India, a senior policymaker said on Thursday. “At all times, different aspects of the economy need to be watched, and we are watching inflation and the current account deficit closely. Steps have been taken to lower the prices of essential items, which are delivering results,” the official told reporters during a press briefing.
Industry Applauds, States Call for Electricity Bill Amendments
Amendments to the Electricity Act 2003, recently tabled in Parliament, gave overarching power to the Center and central government agencies in areas that were either state or federally based. Although this has angered electricity regulators in a few states, the industry applauds the paradigm shift as it will push reforms and private investment in the electric utility sector. Read more