The recent developments in the business and private sectors have had a major impact on industries of multiple sectors. The Telecom Industry is one such major industry that has had to undergo layoffs due to various reasons such as company mergers and fierce competition. This instability in the market has affected startups as well as multinational companies which have induced anxiety in majority of employees. According to Director of Mangalbhavan.in, Mr. Amit Jain, "It is not that the people are lacking in talent or are not capable of doing anything, but due to being surrounded by negative energy, their success is being hindered. In October most of the calls we have received for job consultation and counselling are from the people of Telecom sector. Out of all job counselling related call
Cube Highways has signed definitive agreements for the sale of a minority stake to Japan Highways International (JHI), a Japanese consortium of infrastructure investors led by Mitsubishi Corporation. JHI’s investment reaffirms Cube Highways’ position as a leading owner and operator of highways in India and follows the recent announcement of a minority stake sale to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Cube Highways is an independent, professionally-managed platform that owns and operates more than 1,700 lane-kilometers of highways in India. Formed by two leading global financial institutions, I Squared Capital and the International Finance Corporation (IFC), Cube Highways leverages the extensive transportation experience of its executive and engineerin
In pursuance to the Companies (Registered Valuers and Valuation) Rules, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has recognised two registered valuers organisations. The Institution of Estate Managers and Appraisers will handle one asset class of “land and building” while the IOV Registered Valuers Foundation will handle three asset classes of “land and building”, “plant and machinery” and “securities or financial assets”. These registered valuers organisations will conduct educational courses in valuation, grant membership and certificate of practice to individuals, conduct training for its members and lay down and enforce the Code of Conduct for the registered valuers, who are its members.
The phase-1 of FAME India Scheme, which was originally for a period of 2 years i.e. up to 31st March 2017, was extended for a further period till 31st March 2018, with slight modification to the extent of discontinuation of the available benefits to the Mild Hybrid technology under the scheme with effect from 1st April 2017. The notification of the scheme provides for its review appropriately based on the outcome and experience gained in the Phase 1 of this scheme. Accordingly, based on the third party evaluation of phase-1 of the FAME India Scheme, the benefits available to mild hybrid technology was withdrawn. At present, there are no plans to subsidize expensive battery components of electric vehicles in the Department of Heavy Industry, Ministry of Heavy Industries & Public E
The Supreme Court today said that Hotels and restaurants are not bound by maximum retail price (MRP) in selling bottled water. The Apex Court rejected Centre's stand saying hotels can't be prosecuted for selling mineral water above MRP. Centre had submitted that selling bottled mineral water above the MRP will attract monetary penalty and jail term for the management of restaurants, hotels, multiplexes. The court noted that composite elements of sale and service are there in hotels and restaurants where consumers also enjoy the ambience, invested into by these commercial establishments. A bench headed by Justice Rohinton F Nariman observed that it was not a case of a simple sale, saying nobody goes to the hotel to buy or take away a bottle of mineral water. The Apex Court wa...
In a relief to IT companies, government has set aside a 10,000 crore rupee service tax demand notices on IT companies. In a statement, the Finance Ministry said, as a result, apprehensions about the negative effects on the software industry are without basis. The government's move came a day after IT companies raised the issue of tax demand with Finance Minister Arun Jaitley during the pre-budget consultations. The tax department had slapped service tax demand notices on about 200 information technology and IT-enabled services companies. It had asked them to return export benefits claimed between 2012 and 2016 on softwares provided to clients outside India.
In pre-budget consultation meeting, the IT sector representatives sought access for easier fund for Telecom; Tax free Bond for Telecom; Lowering GST on Telecom services to 12% instead of 18%. Stakeholders from IT (hardware & software) group on Monday sought the help from government against protectionist policies and tax incentives for growth of the sector during the pre-budget meeting with Finance Minister Arun Jaitley. The Finance Minister said that to promote indigenous manufacturing of electronic goods, many steps have been taken by the present government in last three years including rationalization of the tariff structure with extension of differential excise duty dispensation on specified electronic equipments and withdrawal of duty exemption. Jaitley said that in the U
Seeking to allay concerns of depositors over provisions of a draft law, Finance Minister Arun Jaitley today said the government will fully protect public deposits in financial institutions even as he hinted at openness to changes in the proposed FRDI Bill. Jaitley said the government’s massive Rs. 2.11 lakh crore capital infusion plan in banks was to strengthen banks and there was no question of any lender failing. If any such situation arises, the government will “fully protect” the deposits made by customers, the finance minister said here adding that “the government is very clear about it“. Jaitley made the comment to allay concerns with regard to a provision in the Financial Resolution and Deposit Insurance (FRDI) Bill, 2017, first introduced in the Lok Sabha in August this year and
Union Cabinet has recommended to the President to issue an ordinance to make certain amendments to the Insolvency and Bankruptcy Code. Finance and Corporate Affairs Minister Arun Jaitley informed this to reporters after the Cabinet meeting on Wednesday. The Code, which became operational last year, provides for a market-determined and time-bound insolvency resolution process.
Petroleum and Natural Gas Minister Dharamendra Pradhan has said new biofuels policy will be aimed at reducing oil import burden. He said, it will also help reduce pollution. He was taking to news persons on Wednesday after interacting with various stakeholders on draft of new National Policy on Bio-fuels and Pradhan Mantri JI-VAN Yojana. The Minister said, 1-G and 2-G Ethanol, Bio-diesel, and Bio-CNG together with Methanol have huge potential in boosting economic growth, generating employment and doubling farmer's income. He said, it will be instrumental in achieving the target of 10 per cent import reduction by 2022. Replying to a query Mr Pradhan said, efforts are being made to implement BS-VI emission norms by 2018.