New Delhi: Civil Aviation Minister Ajit Singh on Friday said the government's open-sky policy for foreign investment in domestic airlines has positively affected sentiments in the aviation industry, but it is too early to say how much investment the sector would attract. "The sector is going through difficult times and is facing financial stress due to the overall economic slowdown. But the mood is upbeat now after we (government) allowed...
02:10 AM, Sep 22, 2012
Kolkata: In a veiled criticism of Prime Minister Manmohan Singh's justification of reforms on Friday night, West Bengal Chief Minister Mamata Banerjee wondered if the power of the chair is being misused to "finish aam aadmi". "I want to ask - what is the definition of aam aadmi? What is the definition of democracy? Is it not becoming clear that use of the name of aam aadmi, and misuse of...
11:52 PM, Sep 21, 2012
New Delhi: Heading a minority government after the Trinamool Congress withdrew support to the United Progressive Alliance and faced with an economy that is showing no signs of taking off, Prime Minister Manmohan Singh in an emotive address on Friday asked the nation to support his tough but unavoidable reforms measure taken over the last few days. The Prime Minister reminded the country of the 1991 economic crisis while pointing...
11:09 PM, Sep 21, 2012
The Prime Minister on Friday evening addressed the nation to explain the recent reform measures taken by the government. ...
10:50 PM, Sep 21, 2012
New Delhi: The BJP on Friday described as "disappointing and uninspiring" Prime Minister Manmohan Singh's address to the nation, saying that instead of rolling back the hike in diesel price and removing the cap on cooking gas cylinders he has only sought to justify them. "The Prime Minister's speech was uninspiring and disappointing. We are not happy about the speech at all.. The people were expecting some relief, that he...
10:14 PM, Sep 21, 2012
New Delhi: The Opposition on Friday night hit out at the Prime Minister over his address to the nation saying he was "misleading" the country on FDI in multi-brand retail and appeared to be advocating interests of other countries while trying to "defend the indefensible". The ruling Congress, however, stoutly backed Prime Minister Manmohan Singh saying that he has explained in detail why the government had to take the tough...
09:56 PM, Sep 21, 2012
Prime Minister Manmohan Singh addressed the nation on Friday to explain to the people the recent reform measures taken by the UPA government. Following is the text of the Prime Minister's address: My dear brothers and sisters, I am speaking to you tonight to explain the reasons for some important economic policy decisions the government has recently taken. Some political parties have opposed them. You have a right to know...
09:03 PM, Sep 21, 2012
New Delhi: Six Trinamool Congress (TMC) ministers on Friday submitted their resignations to Prime Minister Manmohan Singh, bringing to an end a bitter relationship between the Congress and Mamata Banerjee. While accepting their resignations, the Prime Minister said he was sad about the turn of the events. "Sorry you had to tender resignations," said the Prime Minister. Trinamool Congress had six Union ministers. They were Railway Minister Mukul Roy (Cabinet...
04:37 PM, Sep 21, 2012
New Delhi: As the ruling United Progressive Alliance (UPA) marches on unleashing one economic reform measure after another, especially after key ally Trinamool Congress (TMC) decided to withdraw its support from the government over fuel price hikes and FDI in retail, the main Opposition Bharatiya Janata Party (BJP) seems speechless. Left with absolutely no strategy to deal with this reinvigorated government, that till a few weeks ago had been floundering...
02:37 PM, Sep 21, 2012
New Delhi/ Mumbai: The new-found zeal on the Congress-led United Progressive Alliance Government to undertake bold economic reforms continues with Finance Minister P Chidambaram announcing that there will zero customs duty and VAT on non-subsidised LPG cylinders. Chidambaram also lowered tax on external commercial borrowings (ECB) by Indian companies to five per cent from 20 per cent and also approved the Rajiv Gandhi Equity Schemes, tailor-made to encourage first time...
01:42 PM, Sep 21, 2012
Rajya Sabha MPs - BJP's Arun Jaitley and JD(U)'s N K Singh - attended a conference at the Columbia University's School for International and Public Affairs. The prominent Opposition leaders comment on the UPA government's latest round of economic reforms. ...
01:41 PM, Sep 21, 2012
Kolkata: Upping the ante, Mamata Banerjee on Thursday night hit out at the UPA government for "hurriedly" notifying FDI in multi-brand retail, saying it had no business of doing so after being reduced to a "minority". "I have just come to know through media that Centre has notified FDI in multi-brand retail today. Is it ethical, moral and democratic for a minority government to issue government order forcibly and hurriedly...
11:20 PM, Sep 20, 2012
New Delhi: Against the backdrop of widespread uproar over decision on FDI, Prime Minister Manmohan Singh is likely to explain to the nation tomorrow the reason behind the step and the benefits it would entail. The Prime Minister's explanation could be in the form of a written message or a televised address, sources said. Singh is expected to spell out the reasons that prompted the government to allow FDI in...
08:42 PM, Sep 20, 2012
Mumbai: Stating that it has no intention to "destabilise" the UPA government, the NCP, which is a key ally of Congress at the Centre and in Maharashtra, on Thursday said the party did not want rollback in diesel price hike and capping of gas cylinders but is hoping to "streamline" the distribution mechanism. State party spokesperson Nawab Malik proposed that the loss-making oil companies be compensated by the Centre by...
07:59 PM, Sep 20, 2012
New Delhi: Despite facing the heat over the hike in diesel prices and reforms in foreign direct investment (FDI) in retail, the government has decided to go ahead with some more reforms. According to sources, the government is likely to go ahead with insurance reforms next week. It is expected that the FDI cap on insurance will be raised from 26 per cent to 49 per cent. According to sources,...
07:49 PM, Sep 20, 2012
Adi Godrej is hopeful that even after all the pressure on the UPA government, there won't be any rollback in the reforms announced. ...
04:40 PM, Sep 20, 2012
New Delhi: After biting the bullet on diesel price, subsidised LPG cylinders and foreign direct investment (FDI) in multi-brand retail, the Congress-led United Progressive Alliance Government is all set to embark on an ambitious reforms agenda despite severe political opposition, the government even after losing the support of the Trinamool Congress over the tough economic measures has decided to fast-track the disinvestment process. According to sources the government is confident...
04:09 PM, Sep 20, 2012
New Delhi: Facing fire, not just from allies and Opposition, but also the aam admi over its big ticket reforms, UPA-II is desperately looking for a makeover. The government has now sanctioned Rs 100 crore to advertisements on television, radio and in print. Even as the government's fate hangs in the balance, it is trying all possible ways to reach out to the aad aadmi with explanations in all national...
09:02 AM, Sep 20, 2012
New Delhi: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has backed the UPA government over the reform measures announced by it recently, saying they were "vitally needed at this point of time". A statement released by the ASSOCHAM after the withdrawal of support by Mamata Banerjee's Trinamool Congress to the UPA has said that it fully supports the Union government on the move. Though the body admitted...
07:03 PM, Sep 19, 2012
New Delhi: The government is planning to go ahead with more economic reforms especially in areas where these could be done through its own executive powers, Law Minister Salman Khurshid said on Tuesday. "The Prime Minister is leading us from the front with the intention that the next two years are going to be very significant years of economic reforms. These are economic reforms, fortunately that have yet not required...
03:58 AM, Sep 19, 2012
