Page 4 - Private Sector

As credit growth outpaces deposits, banks may increase interest on FD

Bank deposits have gone up by 6.6 per cent to reach Rs 149.2 trillion during the April-August 2023 period, whereas the credit growth for the same period was 9.1 per cent

Cabinet approves viability gap funding for battery storage system

The VGF scheme for BESS projects was first announced in the Union Budget 2023

Here's how private sector companies contributed to Chandrayaan-3 mission

A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening. Here is a list of the firms and their contribution: ** Tata Consulting Engineers Limited (TCE) engineered unique and indigenously built critical systems and sub-systems custom-built for the successful launch of space missions. TCE engineered the solid propellant plant, the vehicle assembly building and the mobile launch pedestal. ** Larsen & Toubro (L&T) has supplied various components for India's lunar mission, Chandrayaan-3. The company revealed that components such as the "middle segment and nozzle bucket flange" were manufactured at its facility in Powai, while the ground and flight umbilical plates were produced at its aerospace manufacturing facility in Coimbatore. ** Walchandnagar Industries manufactured components of the lunar mission vehicle, the first-stage booster and "flex nozzle control

Private manufacturing majors may give super-critical thermal plants a miss

This includes distancing themselves from the new and emerging super-critical technology

India considers allowing private companies to develop nuclear plants

State-run NTPC Ltd., the country's largest power producer, has emerged as a nuclear champion, betting big on SMRs as they're quicker to build and easier to adjust to grid requirements

India's digital public infra centred around public interest: Meta's Clegg

India's digital public infrastructure plays on key aspects of scale and technology being centred around public interest, and is a "marvellous model" for what others can do as citizenship becomes a digitalised phenomenon globally, Nick Clegg, President Global Affairs of Meta, said on Wednesday. Clegg spoke of how Meta and its apps like WhatsApp have leveraged various layers of India's digital public utilities including health (during COVID vaccination certificate downloads) and payments, and added, "We are at the moment working with commerce layer ONDC to see what more we can do and to make sure card payments and merchant payments are facilitated". He said that when it comes to DPI (digital public infrastructure) construct, it is India's scale and public interest philosophy of the country "that has been so novel", he said. "...I think what is so clever about construction of DPI is tech itself...it is the scale and this very important philosophy highlighted of not having government r

Dilemma of multilateral finance: Scaling up capital from pvt sector crucial

A critical way to serve this need is to create a "third funding mechanism". That means drawing in money from the private sector in addition to the corpus that signatory governments and trusts provide

In a first, ICAR likely to partner private players for joint research

Guidelines for private participation in 2 months

MDBs should improve engagement with private sector: G20 expert group

Report also highlights huge scope for augmenting capital via non-traditional mechanisms such as hybrid capital, and much greater use of portfolio and capital guarantees

Space start-ups over the moon with govt's FDI push, Isro's tech transfer

From the 1980s, Isro has transferred over 400 technologies to around 235 industries. At least 200 technologies were transferred in the past few years only, say sources

Govt to offer Rs 75,000 cr power transmission projects to private firms

Last month, the National Committee on Transmission (NCT) convened with a draft agenda of projects worth Rs. 64,000 crore

Private players to get limited access to GatiShakti masterplan: DPIIT

The government will sit and look at various dimensions, especially with respect to information that is sensitive

US space tie-ups may open global mkt to Indian pvt sector, says industry

India becomes 27th country to join Artemis Accords, a US govt programme aim at sending the first woman and next man to the Moon, and expand space exploration to Mars and beyond

Private sector investment set to witness significant increase: R Dinesh

Private sector investment is set to witness a significant increase, as capacity utilisation in several key sectors has already crossed 80 per cent and economic growth is estimated to be 6.7 per cent in the current financial year, newly elected CII President R Dinesh said on Sunday. He also exuded confidence that the Reserve Bank of India (RBI) will maintain status quo on interest rate in the next bi-monthly monetary policy to be announced later this week. On why the government unsuccessfully keeps on nudging private companies to increase investment, the CII president told PTI that the period between 2016 to 2019, was not good for growth and in 2020 there was COVID. "We have circumstances beyond our control which hampered demand We did come out of the COVID much faster," he said, adding there are signs of improvement. Citing the CII's annual CEOs survey, he said all sectors have crossed 75 per cent capacity utilisation and the figure was 80 per cent in key sectors like cement, stee

Household consumption still weak, but private sector capex shows revival

On a nominal basis, gross fixed capital formation (GFCF), a proxy for infrastructure investment, contributed 29.2 per cent to FY23 GDP

Signs of private sector investment cycle unfolding, says CEA Nageswaran

"We do see signs of corporate sector beginning to make investment. There are some new investment announcement," he said at an event organised by CII

Employers must consider increasing maternity leave to 9 months: NITI Aayog

NITI Aayog member V K Paul on Monday said that both the private and public sectors should consider enhancing the the maternity leave for women workers from six months to nine months. The Maternity Benefit (Amendment) Bill, 2016 was passed by the Parliament in 2017 entitling paid maternity leave of 26 weeks, up from earlier 12 weeks. "Both private and public sector need to sit together to think about increasing the maternity leave of the mothers from present six months to nine months," FICCI Ladies Organisation (FLO) said in a statement quoting Paul. According to the statement, Paul said the private sector should help the NITI Aayog to design the comprehensive care of the children by opening more creches for children for better upbringing as well as doing the needful for the elderly care . "As millions of care workers will be needed in future, we have to develop systematic soft and hard skilling training," Paul added. FICCI Ladies Organisation (FLO) president Sudha Shivkumar said t

Gap between private and public sector wage bills widens in 2022-23

The wage bill of the private sector was 12.7 per cent in the FY22, compared to 11.8 per cent for the public sector

Eye on CSR-I: Listed govt firms contributed Rs 2,900 crore to PM CARES

The first of a three-part series on corporate social responsibility (CSR) explores allocations to the PM CARES Fund. The analysis is in the context of easing of CSR disclosure rules in annual reports

Quotas and the private sector

Rather than a blind reproduction of the government template, a more productive way of enforcing affirmative action in the private sector could be to emulate an American model