News Live: Raghuram Rajan says he needs broad green growth, more job opportunities



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    Raghuram Rajan says he needs broad green growth, more job opportunities

    Former Governor of the Reserve Bank of India, Raghuram Rajan, defended broad-based economic growth and generated more employment opportunities. arguing that short-term political solutions to the problem of job reservation can damage the fabric of the country, reports PTI. On the solution to the problem of the majority of people who feel discriminated against, he said: "The only way to solve this is with a broad-based economic growth, we should focus on that as the final solution instead of emphasizing the grievances. (They are politically short-term very convenient, but they have the potential to separate the fabric of this country. "

    Rajan made these comments in reference to the growing populist nationalism and also the turmoil of powerful communities, including the Patidar community in Gujarat. , that feels discriminated against, and is looking for a reserve in jobs. "This (populist nationalism) has a potential for harm, it would very simply define how the majority community feels aggrieved because it is being discriminated against, it exists throughout the world. India: There are often underlying problems, for example, a matter of work, "said the former governor of RBI.

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    Raghuram Rajan says he needs broad green growth, more job opportunities

    Former Governor of the Reserve Bank of India, Raghuram Rajan, advocated broad-based economic growth and generated more employment opportunities, arguing that Short-term political solutions to the issue of labor reserves can damage the fabric of the country, reports PTI. On the solution to the problem of the majority of people who feel discriminated against, he said: "The only way to solve this is with a broad-based economic growth, we should focus on that as the final solution instead of emphasizing the grievances. (They are politically short-term very convenient, but they have the potential to separate the fabric of this country. "

    Rajan made these comments in reference to growing populist nationalism and also to the turmoil of powerful communities, including the community of Patidar. in Gujarat, which feels discriminated against and is looking for a reserve in jobs. "This (populist nationalism) has a potential for harm, it would very simply define how the majority community feels aggrieved because it is being discriminated against, it exists throughout the world. India: There are often underlying problems, for example, a matter of work, "said the former governor of RBI.

  • Congress publishes third list of 76 candidates for Gujarat polls

    Congress published its third list of 76 candidates on Sunday night for the second phase of the Gujarat Assembly election, presenting nominations that ends on Tuesday, reports PTI. The party, which has sought to evict the BJP from power in the western state, previously announced the names of 86 candidates in two phases. The party, however, could not finalize the names of its candidates in 20 more seats.

    The general secretary of the Congress, Oscar Fernandes, unveiled the third list to the media on Sunday night. The list presented at least 11 candidates from Scheduled Tribes and three from scheduled Castas communities. Congress has been out of power in a crucial state for more than two decades. The voting for the two-phase elections in Gujarat, with a total of 182 seats, will take place on December 9 and 14 and the votes will be counted on December 18.

        Congress publishes third list of 76 candidates for Gujarat polls

Congress issued its third list of 76 candidates on Sunday night for the second phase of the Gujarat Assembly election, and the nomination ends on Tuesday, reports PTI. The party, which has sought to evict the BJP from power in the western state, previously announced the names of 86 candidates in two phases. The party, however, could not finalize the names of its candidates in 20 more seats.

The Secretary General of the Congress, Oscar Fernandes, announced the third list to the media on Sunday night. The list presented at least 11 candidates from Scheduled Tribes and three from scheduled Castas communities. Congress has been out of power in a crucial state for more than two decades. The voting for the two-phase elections in Gujarat, with a total of 182 seats, will take place on December 9 and 14 and the votes will be counted on December 18.


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    EPFO ​​can reduce the interest rate for 2017 -18

    The pension fund agency EPFO ​​can reduce the interest rate on the pension fund deposits this fiscal year compared to the 8 , 65% provided to its 4.5 million rupees for 2016-17, said an official of the Ministry of Labor. The Employee Provident Fund Organization (EPFO) is likely to cut the interest rate by claiming that it is directly crediting exchange-fund units (ETFs) in pension fund accounts and lower returns on other investments, particularly bonds.

    "Provident Employees The Fund Organization could reduce the rate of return on pension fund deposits for 2017-18 due to lower bond revenues and its plan to credit ETF investments directly in the subscriber account" said the senior official. However, the official said that EPFO ​​still has to calculate the revenue projection for the current fiscal year, which would become the basis for crediting the interest rate in the subscriber account for this fiscal year. In December of last year, the EPFO ​​trustees had decided to lower the interest rate in EPF to 8.65% for 2016-17 from the 8.8% expected for 2015-16.

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    EPFO ​​may reduce the interest rate for 2017-18

    The pension fund agency EPFO ​​may reduce the interest rate on pension fund deposits this fiscal year compared to the 8.65% provided to its 4.5 million rupees for 2016-17, said an official of the Ministry of Labor. The Employee Provident Fund Organization (EPFO) is likely to cut the interest rate by claiming that it is directly crediting exchange-fund units (ETFs) in pension fund accounts and lower returns on other investments, particularly bonds.

    "Provident Employees The Fund Organization could reduce the rate of return on pension fund deposits for 2017-18 due to lower bond revenues and its plan to credit ETF investments directly in the subscriber account" said the senior official. However, the official said that EPFO ​​still has to calculate the revenue projection for the current fiscal year, which would become the basis for crediting the interest rate in the subscriber account for this fiscal year. In December of last year, the EPFO ​​trustees decided to lower the interest rate in EPF to 8.65% for 2016-17 from the 8.8% provided for 2015-16.


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    PE out of reason behind Rs The next IPO of Kishore Biyani

    The next IPO of Future Supply Chain Solutions, which is expected to raise more than 700 rupees, is mainly to clear the Private equity company Griffin Partners, Future Group president Kishore Biyani told PTI. Future Supply Chain Solutions (FSCSL), a subsidiary of Future Enterprises, has submitted a red herring prospectus with Sebi for public issuance of up to 97.84 lakh of shares representing 24.43% of the share capital of FSCSL paid equity.

    While the private equity firm SSG Capital, Griffin Partners, will sell approximately 78.27 lakh of shares in FSCSL, representing up to 20% of the paid share capital, the developer company Future Enterprises will unload 19.57 lakh of shares, representing around 5 % participation According to Biyani, FSCSL, the group's logistics arm, is well capitalized and the payment of the debt or the requirement of immediate funds is not the reason for the IPO.

    "We have to give a way out to the private capital.% That we are selling will go to Future Enterprises.This (FSCSL) is a company with good capitalization and there is a very marginal debt of approximately 32 million rupees of long-term debt" said Biyani. Griffin Partners had also recently sold approximately 5% stake in FSCSL to two entities of financial services firm Edelweiss. FSCSL is one of the largest third-party logistics services operators offering automated storage and IT enabled, distribution and other logistics solutions.

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    PE out the reason behind Rs 700cr Future supply chain IPO: Kishore Biyani

    The next IPO of Future Supply Chain Solutions, which is expected to raise more than Rs 700 crore, is mainly to give a Exit to private equity firm Griffin Partners, Future Group president Kishore Biyani told PTI. Future Supply Chain Solutions (FSCSL), a subsidiary of Future Enterprises, has submitted a red herring prospectus with Sebi for public issuance of up to 97.84 lakh of shares representing 24.43% of the share capital of FSCSL paid equity.

    While the private equity firm SSG Capital, Griffin Partners, will sell approximately 78.27 lakh of shares in FSCSL, representing up to 20% of the paid share capital, the developer company Future Enterprises will unload 19.57 lakh of shares, representing around 5 % participation According to Biyani, FSCSL, the group's logistics arm, is well capitalized and the payment of the debt or the requirement of immediate funds is not the reason for the IPO.

    "We have to give an exit to the private capital.% That we are selling will go to Future Enterprises.This (FSCSL) is a company with good capitalization and there is a very marginal debt of approximately 32 million rupiah of long-term debt" said Biyani. Griffin Partners had also recently sold approximately 5% stake in FSCSL to two entities of financial services firm Edelweiss. FSCSL is one of the largest external logistics service providers offering automated storage and IT enabled, distribution and other logistics solutions.


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    Working in gems package, jewelery sector: Suresh Prabhu

    The Ministry of Commerce is working on a package in consultation with the gems and jewelery industry to boost exports and create jobs in this intensive sector in hand of work, said the minister of Suresh Prabhu. The ministry has already asked the gems and jewelery industry to develop an appropriate business plan to promote the growth of the sector.

    "We have some time left, in a few weeks we have to finalize it since the budget will be in February, so we have to work on that," Trade and Industry Minister Prabhu told PTI. The Council for the Promotion of Exports of Gems and Jewels (GJEPC) has demanded a reduction of the gold import tariff from the current 4% to 4%.

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    Working in a package for gems, jewelery sector: Suresh Prabhu

    The Ministry of Commerce is working on a package in consultation with the gems and jewelery industry to boost exports and create jobs in this intensive sector, the Minister Suresh Prabhu said. The ministry has already asked the gems and jewelery industry to develop an appropriate business plan to promote the growth of the sector.

    "We have some time left, in a few weeks we have to finalize it since the budget will be in February, so we have to work on that," Trade and Industry Minister Prabhu told PTI. The Council for the Promotion of Exports of Gems and Jewels (GJEPC) has demanded a reduction of the gold import tariff from the current 4% to 4%.

  • Seven of the 10 best rated cos add Rs 54,174cr in m-cap

    Seven of the 10 most valued Indian companies added Rs 54,174.2 crore in market valuation last week, with Reliance Industries (RIL) stealing the program with the maximum gain, informs PTI. With the exception of Tata Consultancy Services (TCS), State Bank of India (SBI) and Hindustan Unilever (HUL), there are seven companies, including HDFC Bank and ITC, that were added in their market capitalization (m-cap) for the purpose Friday week. 19659008] The valuation of RIL increased Rs 25,205.6 crore to Rs 6,01,324.56 crore. The m-cap of Infosys increased Rs 8,958.28 crore to Rs 2.31,984.84 crore and that of HDFC Bank increased Rs 6,193.59 crore to Rs 4.78,691.34 crore. Maruti Suzuki India market capitalization advanced by Rs 4,440.57 crore to Rs 2.56,396.49 crore and that of Oil and Natural Gas Corporation (ONGC) increased from Rs 4,363.3 crore to Rs 2.32,153.22 crore.

    The pink ITC m-cap for Rs 3,411.94 crore at Rs 3,17,249.81 crore and that of HDFC won Rs 1,600.92 crore at Rs 2.73,062.24 crore. On the other hand, SBI's valuation fell from Rs 4,445.5 crore to Rs 2.86,799.99 crore. TCS lost Rs 4,087 crore to Rs 5,14,704.08 crore and HUL witnessed an erosion of Rs 2,575.73 crore to Rs 2,74,174.50 crore. In the ranking of the top 10 firms, RIL ranked number one followed by TCS, HDFC Bank, ITC, SBI, HUL, HDFC, Maruti, ONGC and Infosys.

        Seven of the 10 best rated cos add Rs 54,174cr in m-cap

Seven of the 10 most valued Indian companies together totaled Rs 54,174.2 crore in market valuation last week, with Reliance Industries (RIL) stealing the program with the maximum profit, reports PTI. With the exception of Tata Consultancy Services (TCS), State Bank of India (SBI) and Hindustan Unilever (HUL), there are seven companies, including HDFC Bank and ITC, that saw aggregate in their market capitalization (m-cap) on Friday. ended the week.

The valuation of RIL increased Rs 25,205.6 crore to Rs 6,01,324.56 crore. The m-cap of Infosys increased Rs 8,958.28 crore to Rs 2.31,984.84 crore and that of HDFC Bank increased Rs 6,193.59 crore to Rs 4.78,691.34 crore. Maruti Suzuki India market capitalization advanced by Rs 4,440.57 crore to Rs 2.56,396.49 crore and that of Oil and Natural Gas Corporation (ONGC) increased in Rs 4,363.3 crore to Rs 2.32,153.22 crore.

The ITC m-cap increased from Rs 3,411.94 crore to Rs 3,17,249.81 crore and that of HDFC gained Rs 1,600.92 crore to Rs 2,73,062.24 crore. On the other hand, SBI's valuation fell from Rs 4,445.5 crore to Rs 2.86,799.99 crore. TCS lost Rs 4,087 crore to Rs 5,14,704.08 crore and HUL witnessed an erosion of Rs 2,575.73 crore to Rs 2,74,174.50 crore. In the ranking of the top 10 firms, RIL ranked number one followed by TCS, HDFC Bank, ITC, SBI, HUL, HDFC, Maruti, ONGC and Infosys.


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    FPI invest $ 2.6bn in Indian capital markets in November so far

    Foreign investors have injected more than $ 2.6 billion into the country's capital markets this month so far, driven by the announcement of the government to recapitalize PSU to banks and India do well in the "index of ease of doing business" of the World Bank, reports PTI. This follows a net income of more than Rs 19,000 crore in the capital markets (capital and debt) last month. Before that, the FPI had taken more than 10,000 crore rupees in September.

    According to the data depositaries, foreign portfolio investors (FPI) infused Rs 16,455 crore in shares during November 1-24, in addition, put Rs 754 in the debt market during the period under review, which resulted in an income of Rs 17,209 crore ($ 2,65 billion). In general, the FPIs have invested Rs 53,800 crore in shares this year and another Rs 1.46 lakh crore in the debt markets.

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    FPI invest $ 2.6bn in Indian capital markets in November so far

    Foreign investors have injected more than $ 2.6 billion into the country's capital markets this month so far, driven by the announcement of the Government recapitalize PSU banks and India is doing well in the World Bank's ease-of-doing index, reports PTI. This follows a net income of more than Rs 19,000 crore in the capital markets (capital and debt) last month. Before that, the FPI had taken more than 10,000 crore rupees in September.

    According to the data depositaries, foreign portfolio investors (FPI) infused Rs 16,455 crore in shares during November 1-24, in addition, put Rs 754 in the debt market during the period under review, which resulted in an income of Rs 17,209 crore ($ 2,65 billion). In general, the FPIs have invested Rs 53,800 crore in shares this year and another Rs 1.46 lakh crore in the debt markets.

  • How the markets looked last week

    The global financial markets ended the week on a positive note. Except in the Chinese financial markets, all global indices posted gains during the week. In the USA UU., The industrial Dow finished the week with a rise of 0.9%. The US indices UU They climbed in a favorable holiday season with the S & P 500 and Nasdaq Composite indexes reaching record highs during the week. Federal Reserve officials in the United States expressed largely optimistic views on economic growth at their most recent meeting, but also began to worry that financial market prices are spiraling out of control and posing a danger to the economy. economy. Of the minutes of the last meeting of the Fed, most of the members were in favor of a rate hike in the short term.

    The European actions closed the week to fit the minutes of the last meeting of the European Central Bank. The main indexes of Europe started the week in red, however, ended the week strong thanks to positive manufacturing and employment data from France and Germany. The French and German markets rose 1.3% and 0.5% respectively this week, while the UK indexes rose 0.4% during the week.

    Chinese stocks declined during the week, after the country's first-clbad index suffered its biggest decline. the day falls in 17 months.

    Back home, benchmark indices in India were in an uptrend throughout the week, and ended the week on a positive note. A rebound in IT stocks helped BSE Senbad earn 1% during the week.

        How the markets looked last week

The global financial markets ended the week on a positive note. Except in the Chinese financial markets, all global indices posted gains during the week. In the USA UU., The industrial Dow finished the week with a rise of 0.9%. The US indices UU They climbed in a favorable holiday season with the S & P 500 and Nasdaq Composite indexes reaching record highs during the week. Federal Reserve officials in the United States expressed largely optimistic views on economic growth at their most recent meeting, but also began to worry that financial market prices are spiraling out of control and posing a danger to the economy. economy. Of the minutes of the last meeting of the Fed, most of the members were in favor of a rate hike in the short term.

European stocks closed the week higher as they digested minutes from the last meeting of the European Central Bank. The main indexes of Europe started the week in red, however, ended the week strong thanks to positive manufacturing and employment data from France and Germany. The French and German markets rose 1.3% and 0.5% respectively this week, while the UK indexes rose 0.4% during the week.

Chinese stocks declined during the week, after the country's highest index suffered its biggest daily decline in 17 months.

Back home, the benchmark indices in India were in an uptrend throughout the week, and ended the week on a positive note. A rebound in IT stocks helped BSE Senbad earn 1% during the week.

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