43

Niti Aayog Has Been Asked To Draw Up A List Of Non-Core Assets Of Various CPSEs

New Delhi: Niti Aayog has been tasked with drawing up a list of non-core assets of various CPSEs, both healthy and sick ones, as a first step towards finance ministry’s plan to monetise such assets and unlock value to shareholders.

This is part of the overall plans of the government to lay down procedure and mechanism for monetisation of non-core assets of central public sector undertakings (CPSEs), which include mainly land and building.

“Niti Aayog will draw up the list of non-core assets owned by CPSEs which can be sold separately after discussion with a consultative group comprising officials from administrative ministries, Department of Economic Affairs, Department of Investment and Public Asset Management (DIPAM),” an official said.

18

Moody’s Predicts Growth Of Indian Economy Expected At 7.3 Per Cent In Calendar Year 2019 And 2020

New Delhi: Rating agency Moody’s has predicted that Indian economy is expected to grow at 7.3 per cent in calendar year 2019 and 2020, and the government spending announced ahead of elections this year which will support near-term growth.

The US-based rating agency said that the country is less exposed to a slowdown in global manufacturing trade growth than other major Asian economies and emerging markets and is poised to grow at a relatively stable pace in the two years.

“We expect India’s economy to grow around 7.3 per cent in both years (2019, 2020),” Moody’s said in its quarterly Global Macro Outlook for 2019 and 2020.

4

Economy Decelerates At A Faster Pace Than Anticipated In December Quarter Of 2018-19 to 6.6%

New Delhi: The Indian economy decelerated at a faster pace than anticipated in the December quarter of 2018-19 to 6.6%—the lowest in five quarters—increasing chances of another round of rate cuts by the Reserve Bank of India (RBI) in April to support growth.

However, the dismal growth print, the last before the general election due by May, is likely to take some sheen away from the economic record of the Narendra Modi government, which is seeking a second term in office.

The Central Statistics Office (CSO) on Thursday also revised downward its full-year growth forecast for the current fiscal year to 7% from the 7.2% estimated earlier.

973

Re Dives 17 Paise To Close At 71.24 Against Dollar Amid Flare Up Of Tensions Between India And Pakistan

New Delhi: The rupee dived 17 paise to close at 71.24 against the US dollar Wednesday amid a flare up of tensions between India and Pakistan. Firming crude oil prices, month-end dollar demand from oil importers and a weak sentiment at domestic equity markets weighed on the rupee, analysts said.

At the Interbank Foreign Exchange (forex) market, the domestic unit opened almost flat at 71.08. It then shuttled between a low of 71.49 and a peak of 70.94, before finally ending at 71.24, showing a loss of 17 paise. The domestic currency had ended 10 paise lower at 71.07 to the US dollar Tuesday.

The rupee marked “second day of loss amid escalation of tension with Pakistan and month-end dollar demands from oil importers,” V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities said.

965

Body For Corporate Governance Launched

New Delhi: The Global Research Foundation for Corporate Governance (GRFCG) was launched on the 25th February 2019 at India International Centre, Lodhi Road, New Delhi. The inauguration of the GRFCG was Presided by the Corporate Governance wizard, a distinguished academician and an eminent scholar in the area of Corporate Governance in India, Prof. J P Sharma, former Head and Dean of Department of Commerce, Delhi School of Economics, University of Delhi and the Chairman of the Global Research Foundation for Corporate Governance (GRFCG). The event started from 2:00 P.M. onwards and lasted till 5:00 P.M.

The launch of the GRFCG also witnessed the august presence of eminent experts in the area of Corporate Governance in India. Many of the Board Members including Prof (Dr.) Harivansh Chaturvedi, Alternate President, EPSI (Education Promotion Society for India), and Director, Birla Institute of Management Technology (BIMTECH); Prof (Dr.) R K Mishra, Director, Institute of Public Enterprise (Hyd); Prof (Dr.)  Rattan Sharma, President, Association of Indian Management Schools (AIMS), currently Principal Director, Vivekananda Institute of Professional Studies, and Formerly Professor in IIM, MDI; Director, SPJIMR (Mumbai); Prof. (Dr.) Satya Pal Narang, Currently Member, Board of Governors, MDI Gurgaon and Formerly, Secretary cum CEO, The Institute of Company Secretaries of India (ICSI); Nesar Ahmad, Proprietor, NESAR & Associates' and Past President, Institute of Company Secretaries of India (ICSI);