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Himachal raises Rs 1,000 cr loan for development, paying salaries

By Gaurav Bisht | Hindustan Times/Shimla, Shimla
UPDATED ON OCT 26, 2020 05:57 PM IST
The state has estimated a revenue loss of 32,000 crore over the past seven months due to the pandemic
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Union finance minister Nirmala Sitharaman (R) addresses a press conference in New Delhi.(PTI Photo)
Union finance minister Nirmala Sitharaman (R) addresses a press conference in New Delhi.(PTI Photo)

LTC cash voucher scheme: All you need to know about it

By hindustantimes.com | Edited by Karan Manral | Hindustan Times, New Delhi
UPDATED ON OCT 12, 2020 02:34 PM IST
Finance minister Nirmala Sitharaman on Monday announced LTC cash voucher scheme and special festival advance scheme for government employees with an aim to increase consumer spending.
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Security personnel check the body temperature of rural development and panchayati raj minister Virender Kanwar before going to attend the monsoon session in Shimla on Monday.(Deepak Sansta / HT)
Security personnel check the body temperature of rural development and panchayati raj minister Virender Kanwar before going to attend the monsoon session in Shimla on Monday.(Deepak Sansta / HT)

CAG report: HP fiscal deficit down by 9.2% in 2018-19

By Gaurav Bisht | Hindustan Times/Shimla, Shimla
UPDATED ON SEP 14, 2020 11:56 PM IST
Only 33% of the revenue receipts came from the state’s own resources comprising taxes and non-taxes; central transfers brought in the remaining 67%; state improves vis-a-vis share of capital expenditure to total expenditure
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After the government announced the nationwide lockdown on March 24 with effect from the following day to curb the spread of the viral disease, it announced a series of relief and economic stimulus packages.(Sonu Mehta/HT PHOTO)
After the government announced the nationwide lockdown on March 24 with effect from the following day to curb the spread of the viral disease, it announced a series of relief and economic stimulus packages.(Sonu Mehta/HT PHOTO)

Ministries asked not to start new schemes this fiscal year

By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON JUN 06, 2020 12:04 AM IST
The aim is to use scarce resources prudently, according to a finance ministry order. A copy of the directive, issued on Thursday, was reviewed by Hindustan Times.
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Finance minister Nirmala Sitharaman on Saturday asked 32 large central public sector enterprises (CPSEs) to frontload their capital expenditure and clear all dues of all goods and service providers by October 15.(ANI Photo)
Finance minister Nirmala Sitharaman on Saturday asked 32 large central public sector enterprises (CPSEs) to frontload their capital expenditure and clear all dues of all goods and service providers by October 15.(ANI Photo)

Clear all dues by Oct 15, government tells CPSEs

By Asit Ranjan Mishra | New Delhi
PUBLISHED ON SEP 29, 2019 12:51 AM IST
CPSEs have also been asked to build a portal by October 15 where delay in payments can be monitored on a regular basis, Sitharaman said after reviewing the capex plan of CPSEs.
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Nirmala-Sitaraman-discusses-Companies-Act-with-stakeholders(HT File Photo)
Nirmala-Sitaraman-discusses-Companies-Act-with-stakeholders(HT File Photo)

Nirmala Sitharaman asks government departments to not sit on ‘overdue’ payments

By HT Correspondent | Hindustan Times, New Delhi
PUBLISHED ON SEP 27, 2019 06:37 PM IST
Finance minisyer Nirmala Sithraman also said that ministries have been asked to provide detailed capital expenditure plans for the next four quarters as the government looks to boost growth with spending push.
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This comes amidst rapid and mandatory technological advancements in vehicle safety and emissions, which has led to sizable capital expenditure by component manufacturers over the past few years, he added.(HT image)
This comes amidst rapid and mandatory technological advancements in vehicle safety and emissions, which has led to sizable capital expenditure by component manufacturers over the past few years, he added.(HT image)

Icra revises outlook on auto components sector to negative from stable

By Press Trust of India | New Delhi
UPDATED ON SEP 18, 2019 04:49 PM IST
Large manufacturers, who have used their cashflows from the upcycle to develop a strong balance sheet and product capabilities, are expected to be more resilient to the current downturn, Icra said.
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These are the commissioning of Khanderi (the second of the six Scorpene submarines being built at Mazagon Dock Shipbuilders Limited), the launch of Nilgiri (the first in a series of seven P-17A stealth frigates to be built in the country) and the commissioning of an aircraft carrier dry dock in Mumbai on September 28 --- projects worth almost Rs 75,000 crore.(HT FILE)
These are the commissioning of Khanderi (the second of the six Scorpene submarines being built at Mazagon Dock Shipbuilders Limited), the launch of Nilgiri (the first in a series of seven P-17A stealth frigates to be built in the country) and the commissioning of an aircraft carrier dry dock in Mumbai on September 28 --- projects worth almost Rs 75,000 crore.(HT FILE)

Navy may seek more funds to meet needs

By Rahul Singh | New Delhi
UPDATED ON SEP 18, 2019 08:57 AM IST
Capital expenditure of Rs 23,156 crore earmarked for navy in defence budget for 2019-20 isn’t sufficient to meet its requirements and the service plans to demand at least Rs 20,000 crore more to support its modernisation efforts.
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Telangana chief minister KCR attributed the slashing of the budget to the overall economic slowdown in the country, which had its effect on Telangana as well.(TWITTER.)
Telangana chief minister KCR attributed the slashing of the budget to the overall economic slowdown in the country, which had its effect on Telangana as well.(TWITTER.)

5 months on, KCR slashes his state budget by 20 percent amid slowdown worries

By Srinivasa Rao Apparasu | Hindustan Times, Hyderabad
UPDATED ON SEP 09, 2019 09:12 PM IST
The Telangana Rashtra Samithi returned to power for a second successive term in December 2018, but the chief minister presented only a vote-on-account budget in February this year on the ground that there was no clarity on devolution of funds from the Centre in view of the Lok Sabha elections.
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The National Statistical Office on Friday will release India’s economic growth figures for the April-June quarter of 2019-20.(Bloomberg (Representative Image))
The National Statistical Office on Friday will release India’s economic growth figures for the April-June quarter of 2019-20.(Bloomberg (Representative Image))

Five reasons to watch out for the June quarter GDP growth figures out today

By Asit Ranjan Mishra | livemint, Mumbai
UPDATED ON AUG 30, 2019 11:02 AM IST
Most analysts expect the GDP growth rate in June quarter to be less than 5.8% secured in the March quarter of 2018-19 which was a five year low.
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VG Siddhartha’s tragic death is a wake up call to the government about the real challenge of setting up a business and sustaining it(Priyanka Parashar/Mint)
VG Siddhartha’s tragic death is a wake up call to the government about the real challenge of setting up a business and sustaining it(Priyanka Parashar/Mint)

How India’s policy framework fails the courage and spirit of the entrepreneur

By Mukul Kumar and Ritika Sinha
PUBLISHED ON JUL 31, 2019 08:01 PM IST
The State must address issues of credit, taxation, regulation, law and skills for small and medium firms
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The Survey said the economy is ideally placed to grow, and job-creation and exports can be pushed to the next level on the microeconomic and macroeconomic foundations laid over the past five years. The architect of the Survey, chief economic adviser Krishnamurthy V Subramanian, said the report provides a “strategic” blueprint for the take-off.(Mohd Zakir/HT PHOTO)
The Survey said the economy is ideally placed to grow, and job-creation and exports can be pushed to the next level on the microeconomic and macroeconomic foundations laid over the past five years. The architect of the Survey, chief economic adviser Krishnamurthy V Subramanian, said the report provides a “strategic” blueprint for the take-off.(Mohd Zakir/HT PHOTO)

Govt says growth to rebound, but challenges still on horizon

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON JUL 05, 2019 12:10 AM IST
India will need to take up investments from the current level of 29.3% of GDP to 35% to achieve a sustained growth of 8%, Subramanian said, giving the example of China that took the level to 50%.
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The defence budget, which is part of the Union Budget to be presented later this week will be adequate to acquire so-called stand-off weapons and fund essential capital acquisitions.(Sonu Mehta/HT PHOTO)
The defence budget, which is part of the Union Budget to be presented later this week will be adequate to acquire so-called stand-off weapons and fund essential capital acquisitions.(Sonu Mehta/HT PHOTO)

Modest defence budget hike may require tweaks in military’s shopping list

By Shishir Gupta | Hindustan Times, New Delhi
UPDATED ON JUL 02, 2019 06:17 AM IST
In the interim budget for 2019-20, announced on February 1, defence was allocated 319 trillion, a hike of 6.87% compared to the previous year. The budget will be presented on July 5.
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The management of Bharti Airtel, present at the earnings call, said the competitive intensity has stabilised to the extent that the company has not seen a reduction in tariffs.(Reuters)
The management of Bharti Airtel, present at the earnings call, said the competitive intensity has stabilised to the extent that the company has not seen a reduction in tariffs.(Reuters)

Airtel says 5G spectrums ‘unaffordable’, urges Govt to reduce base price

By Press Trust of India | Mumbai
PUBLISHED ON MAY 31, 2019 09:28 PM IST
Vittal said the base prices recommended by the Telecom Regulatory Authority of India (Trai) places the radiowaves in the ballpark range of Rs 50,000-55,000 crore for 100 MHz of spectrum.
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War rooms and deployment of quick reaction teams are there to assist in tackling exigencies, he said.(HT Photo)
War rooms and deployment of quick reaction teams are there to assist in tackling exigencies, he said.(HT Photo)

To deal with summers, discoms augmenting distribution infra

By Press Trust of India | New Delhi
PUBLISHED ON MAY 17, 2019 05:48 AM IST
Strengthening their networks, the BSES Yamuna Power Limited(BYPL) and the BSES Rajdhani Power Limited(BRPL) made capital expenditure of over Rs 800 crore in this regard, a BSES spokesperson said.
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An Indian farmer with his produce waits to negotiate with traders at a wholesale vegetable market in Hyderabad on February 1, 2018. The Indian government is focusing on the agricultural sector in its annual budget, released on February 1. / AFP PHOTO / NOAH SEELAM(AFP)
An Indian farmer with his produce waits to negotiate with traders at a wholesale vegetable market in Hyderabad on February 1, 2018. The Indian government is focusing on the agricultural sector in its annual budget, released on February 1. / AFP PHOTO / NOAH SEELAM(AFP)

Telangana announces farm loan waiver of up to Rs 1 lakh

By Srinivasa Rao Apparasu | Hyderabad
UPDATED ON FEB 23, 2019 07:00 AM IST
Chief minister K Chandrasekhar Rao, who also holds finance portfolio unveiled the waiver, which he promised in his election campaign, in a vote-on-account he presented in the assembly..
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Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm Indus Tower.(REUTERS)
Vodafone Idea is likely to mop up about Rs 20,000 crore from its proposed stake sale in mobile tower firm Indus Tower.(REUTERS)

Vodafone Idea in talks to sell mobile tower stake, optical fibre assets for Rs 20,000 crore

By Press Trust of India | New Delhi
UPDATED ON FEB 17, 2019 07:20 PM IST
The country’s largest telecom operator plans to use the funds for lowering its debt, which stood at Rs 1,23,660 crore at the end of 2018.
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The budget did not announce any new projects, but has targeted big-ticket projects such as the coastal road, Goregaon-Mulund link road, and upgrade of sewage treatment plant(HT)
The budget did not announce any new projects, but has targeted big-ticket projects such as the coastal road, Goregaon-Mulund link road, and upgrade of sewage treatment plant(HT)

BMC 2019-20 budget focuses on infrastructure

By Eeshanpriya M S | Hindustan Times, Mumbai
UPDATED ON FEB 05, 2019 08:27 AM IST
No new projects, taxes, BMC allocates money to complete big-ticket projects, provide amenities
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Finance Minister Piyush Goyal(Vipin Kumar/HT PHOTO)
Finance Minister Piyush Goyal(Vipin Kumar/HT PHOTO)

Correction

By Hindustan Times | New Delhi
UPDATED ON FEB 09, 2019 12:09 AM IST
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Yogi wants financial sanctions for development works speeded up to ensure higher utilization of funds before the election commission’s model code of conduct for 2019 polls comes into force.(Repreentative image)
Yogi wants financial sanctions for development works speeded up to ensure higher utilization of funds before the election commission’s model code of conduct for 2019 polls comes into force.(Repreentative image)

Speed up financial sanctions for larger use: Yogi tells officers

By Umesh Raghuvanshi | Hindustan Times, Lucknow, Lucknow
PUBLISHED ON OCT 26, 2018 01:44 PM IST
Taking strong exception to the failure of 32 major departments in utilising a large chunk of funds in the first six months of the current financial year, chief minister Yogi Adityanath asked senior officers to expedite financial sanctions to step up the pace of development work, ahead of 2019 Lok Sabha elections.
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A close scrutiny of mid-term performance of these departments reveals that their failure to expedite use of funds in a time-bound manner may slow down the pace of development ahead of general elections.(Representative image)
A close scrutiny of mid-term performance of these departments reveals that their failure to expedite use of funds in a time-bound manner may slow down the pace of development ahead of general elections.(Representative image)

Mid-term review: 32 major UP govt departments used only 31% budget in 6 months

By Umesh Raghuvanshi | Hindustan Times, Lucknow, Lucknow
PUBLISHED ON OCT 25, 2018 03:14 PM IST
A mid-term review has revealed that at least 32 state government departments have failed to use a major chunk of budgetary funds allocated to them to step up development works ahead of the 2019 Lok Sabha elections.
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CM Devendra Fadnavis with the members of the 15th Finance Commission on Wednesday.(HT Photo)
CM Devendra Fadnavis with the members of the 15th Finance Commission on Wednesday.(HT Photo)

Devendra Fadnavis asks for Rs 81,000 crore even as finance commission says Maharashtra not spending enough on development

By Faisal Malik | Hindustan Times, Mumbai
UPDATED ON SEP 20, 2018 09:30 AM IST
The commission pointed out the growth rate of state’s revenue had fallen to 11.05% in 2014-17 from 17.69% from 2009-13
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A close scrutiny of the state’s financial situation points towards the strained resources, with proposals of levying any new taxes not under consideration as of now.(HT Photo)
A close scrutiny of the state’s financial situation points towards the strained resources, with proposals of levying any new taxes not under consideration as of now.(HT Photo)

Mobilising funds a challenge for Yogi govt in Lok Sabha poll year

By Umesh Raghuvanshi | Hindustan Times, Lucknow, Lucknow
PUBLISHED ON SEP 08, 2018 06:20 PM IST
A major challenge of mobilising additional funds for major development works, and managing finances vis-à-vis the rising expenditure, stares the Yogi Adityanath government in the face ahead of the 2019 Lok Sabha elections.
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(From right) CM Capt Amarinder Singh and ministers Brahm Mohindra, Manpreet Singh Badal and OP Soni during the cabinet meeting in Chandigarh on Wednesday.(HT Photo)
(From right) CM Capt Amarinder Singh and ministers Brahm Mohindra, Manpreet Singh Badal and OP Soni during the cabinet meeting in Chandigarh on Wednesday.(HT Photo)

Punjab cabinet sets the ball rolling for disinvestment of 3 PSUs

By HT Correspondent | Hindustan Times, Chandigarh, Chandigarh
UPDATED ON JUN 28, 2018 01:41 PM IST
Decision based on recommendations of Punjab Governance Reforms and Ethics Commission
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Indian constructors work at a site of an upcoming high-rise building in Mumbai.(AFP Photo)
Indian constructors work at a site of an upcoming high-rise building in Mumbai.(AFP Photo)

India may cut expenditure to stick to 3.3% fiscal deficit: Moody’s

By Press Trust of India | Press Trust of India
PUBLISHED ON JUN 07, 2018 03:07 PM IST
Moody’s expects the government to meet its fiscal deficit target of 3.3% for 2018-19, based on its commitment to gradual fiscal consolidation and budget assumptions which appear achievable, it said in a statement.
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Google’s higher spending in the first quarter shaved operating profit margins to 22 percent from 27 percent a year earlier.(REUTERS File Photo)
Google’s higher spending in the first quarter shaved operating profit margins to 22 percent from 27 percent a year earlier.(REUTERS File Photo)

Google’s new spending binge shows a company playing catch-up

By Mark Bergen | Bloomberg
UPDATED ON APR 24, 2018 05:54 PM IST
Google’s parent posted the strongest sales growth in almost four years on Monday, indicating marketers kept flocking to its services amid rising scrutiny of digital ads. But the company also spent at historic levels, nearly tripling capital expenditure for the quarter to $7.7 billion.
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“In overall terms, almost all of the sampled consumers gave 100 marks to the complaint redress mechanism of TPL in contrast to 40% satisfaction level prior to 2009.”(Representative image)
“In overall terms, almost all of the sampled consumers gave 100 marks to the complaint redress mechanism of TPL in contrast to 40% satisfaction level prior to 2009.”(Representative image)

TERI report presents rosy picture of power franchisee system in Agra

By Brajendra K Parashar | Hindustan Times, Lucknow, Lucknow
PUBLISHED ON MAR 27, 2018 03:16 PM IST
Power employees and consumer bodies are up in arms against the state government’s decision to replicate the Agra model in five more cities.
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