Aug

18

New Dynamics in Indian Gas Future: RIL-RNRL-NTPC-Petroleum Ministry

Filed Under Capital Markets, Energy, India Business, Indian Government, Infrastructure | Leave a Comment

Given the nature of the multi-billion dollar natural gas resources under dispute, it is interesting, and welcome to have a transparent debate.  This is probably the first time that any corporate in India has taken this approach. We appreciate this this bold stance by Anil Ambani, and we welcome the ad by Reliance ADAG Group.
adag-ad-campaign-18aug2009
The Times of India has put in well:
The multi-crore campaign accusing the petroleum ministry of favoring RIL (Reliance Industries Ltd) at the cost of navratna NTPC in the now famous gas row, made the ministry defensive on Monday, prodded RIL to give out figures and estimates as explanation, and had ad professionals munching on whether this aggressive form of communication through advertising was a game changer.

The case is scheduled for hearing in the Indian Supreme Court on 1st Sep 2009.

Jul

2

Indian Government shares Economic Survey of India 2008-2009

Filed Under Banking, India Business, Indian Government, Infrastructure, Insurance, Regulations, Training & Education | Leave a Comment

The Indian Government today presented the Economic Survey of India 2008-2009 in the Indian parliament. The FY 2009-2010 budget session commenced today with Finance Minister Pranab Mukherjee tabling the Economic Survey of India for the year 2008-09. The railway budget 2009 will be presented tomorrow by the railway minister Mamta Banerjee.

Here are some highlights:

* In the 11th “Five-Year Plan” period from 2007-12, the Govt is expecting to create 58 million jobs in the country. This is great news.

* The next phase of economic stimulus will include both govt expenditure and tax cuts, while keeping the macro economic fundamentals like interest rates, exchange rates and growth rates in mind.

* For the current fiscal 2009-10, the economic survey has projected a fiscal deficit of 5.5% of the GDP. The target for the Govt is to bring down the fiscal deficit to about 3% of the GDP.

* Recommends raising the FDI cap in Insurance sector from 26% to 49%

* Recommends raising the FDI limits in defence sector from 26% to 49%

* Suggests removing the cess, fringe benefit tax, different surcharges on taxes and bring in many different reforms in petrol pricing and the financial sector.

*  India could grow at an average rate of 7% in FY 2009-10, and achieve growth rates of 8-9% in medium term if all reforms being planned are implemented.

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