Private Sector

CII calls for reforms in priority sector lending framework ahead of Budget

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

Jharkhand HC puts stay on law giving 75% quota in pvt sector jobs to locals

The Jharkhand High Court has put a stay on the implementation of a state law that guarantees 75 per cent reservation to locals for jobs with salaries up to Rs 40,000 a month in the private sector in the state. A division bench, comprising Chief Justice MS Ramchandra Rao and Justice Deepak Roushan, heard a petition filed by a small-scale industries association challenging the provisions of the Jharkhand State Employment of Local Candidates in Private Sector Act, 2021 on Wednesday. As per the Act passed by the Jharkhand Assembly in 2021, every employer shall fill up 75 per cent of the total existing vacancies by local candidates with respect to such posts where the gross monthly salary or wages are not more than Rs 40,000. Jharkhand Small Scale Industries Association counsel AK Das submitted that the enactment has created a clear division between candidates from the state and aspirants from outside Jharkhand. Das claimed that the implementation of the Act is against the principles of

Modi govt's policies, corporate tax cuts failed to revive economy: Cong

Asserting that the Centre's policies have "failed" to revive the economy, the Congress on Thursday said the government's strategy of cutting corporate taxes, giving "generous corporate handouts" and raising the tax burden on the salaried middle class has only helped enrich large monopolies without any discernible increase in investment or hiring. Congress general secretary in-charge communications Jairam Ramesh said what is needed for stimulating demand is tax cuts for the salaried middle classes and income support to the poor. His remarks came over a media report which claimed that the sharp slump in economic growth rate to 5.4 per cent in July-September this year has sparked concerns among policy makers that low single-digit income growth in the corporate sector despite four times growth in profits over the last four years, is one of the reasons behind the slowing of demand. In a post on X, Ramesh said, "Private sector profit is at a 15-year-high and has grown four times over the

Life insurance premiums in November slip 4.5% to Rs 25,306.56 crore

According to a Nuvama report, private sector growth picked up in November 2024 as the industry adapted to the changes in surrender value regulations

'Reform, Perform, Transform' mantra visible in every sector: PM Modi

Prime Minister Narendra Modi on Monday said the development following the mantra of 'Reform, Perform and Transform' is visible in every sector. Addressing the Rising Rajasthan Summit here, Modi said today every expert and investor in the world is very excited about India. He said that having a large manufacturing base in India is important as the world needs an economy that continues to function strongly even during the biggest crisis. "Today the world needs an economy that continues to function strongly even during the biggest crisis. It should not be disrupted. For this, it is very important to have a large 'manufacturing base' in India," he said. The Prime Minister said that India has shown how the democratisation of digital technology is benefiting every sector and every class. "India is showing the world the real power of 'democracy, demography and data'," he said. Modi said the youth power is taking the ancient tradition of India forward. PM Modi said that our government is

NSO to unveil 1st private capex survey in March amid investment push

NSO launched the first of its kind survey to track the annual capex by the private sector by compiling information on the projected capital investment for the next two years

Pvt lender HDFC Bank launches rural and semi-urban focused savings account

The bank's network of over 4,600 branches in semi-urban and rural locations will serve as touchpoints to leverage this product, covering nearly two-thirds of India's population

LNG trucks in India: Pvt sector entry sparks change, but challenges remain

India's LNG trucks' path is strewn with rocks, namely, poor infrastructure, high vehicle prices, lack of government support, and a highly fragmented market dominated by small transporters

Govt reconstitutes CAC to drive reforms, boost apprenticeship training

Among private sector employer representatives, the council will include members from the TATA Group, Maruti Suzuki, Reliance Industries, Toyota, and the Indian Banks Association, among others

Govt can't take over all private properties for 'common good': SC

The ruling may impact policies aimed at wealth distribution

HSBC flash India composite PMI rises to 58.6 in Oct; job creation improves

Index has been above the 50-level separating growth from contraction for 39 consecutive months

Project stalling rate eases to 12-year low; sharper decline for pvt sector

Private-sector capex may face headwinds from a growth slowdown, suggested independent market expert Ambareesh Baliga

DCB Bank Q2FY25 results: Net up 23% on uptick in non-interest income

Advances grew by 19.29 per cent Y-o-Y to Rs 44,465 crore in Q2FY25

Private sector must lead in India's defence innovation: Rajnath Singh

He also said that the Government of India, in partnership with the Ministry of Defence, is dedicated to making India's defence sector more innovative and technology-oriented

Private sector capex likely to improve among rising biz confidence: CII

According to survey, over 60% of firms in India see rate cuts this financial year

Private sector in driver's seat of Indian economy, steering nation: Rajnath

Defence Minister Rajnath Singh on Monday said the role of the private sector is becoming increasingly prominent in nearly every area of the Indian economy and it is steering the nation's economic progress. Addressing the inauguration programme of a Sainik School at Shri Bhawani Niketan Public School here, he said Sainik schools are also being set up under the Public-Private Partnership (PPP) model. Sainik schools will give fresh impetus to efforts to give a new direction to society and instil values like discipline, patriotism and courage in their students, he said. Singh said that all Sainik schools established in the country till now were being run jointly by the central and state governments but the new schools are being established under the PPP model. "Whenever there is talk of Public-Private Partnership, the word 'public' comes first. In any project, we look at the role of the government first. But the situation is changing now. "Therefore, moving away from the standard ...

Investors to focus on US Fed interest rate decision this week: Analysts

The US Federal Reserve's interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said. The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday. The BSE benchmark breached the 83,000 level for the first time on Thursday. "One of the most anticipated events of the year is set to unfold this week with the US Federal Open Market Committee (FOMC) meeting scheduled for September 18th. It is almost certain that this will mark the beginning of an interest rate cut cycle in the US. The general consensus is for a 25 basis points (bps) rate cut, though some market participants are speculating a more aggressive 50 bps cut. "Such a move would be a significant positive trigger for global markets, particularly for emerging markets like India, as it would ...

Private sector needs to step up infrastructure investment: DFS secy

India needs to spend 8-10 per cent of Gross Domestic Product (GDP) on infrastructure for sustaining high single digit growth rate over next couple of decades

Govt, pvt sector should think of mid-term AI consequences: CEA Nageswaran

He said that labour should be treated as a resource and asset since it involves humans with emotions

ADB to devote half of its annual lending to climate finance by 2030

The new strategy comes nearly a year after ADB approved reforms to unlock $100 billion in new financing capacity over a decade, meeting a mandate from U.S. Treasury Secretary Janet Yellen