Letters to the editor dated February 2, 2021
|
Updated on
A bad bank is good
Finally the shape of a bad bank has been finalised. The new asset reconstruction company would be predominantly owned by the government. The existing ARCs are hampered by shortage of capital. In the FM s words the proposed Asset Reconstruction company limited and and Asset Management company will take over the existing debt and then manage and dispose of the assets to alternate Investment Funds and other potential investors for eventual value realisation. So far so good. The removal of stressed assets from the PSBs will make them focus on fresh lending without the fear of NPAs. Secondly since it is owned by government PSBs would be more confident about making larger haircuts. Sovereign backing of ARC will enable it to raise funds for restructuring viable units. But on the flip side, pre-Covid NPAs are already provided for. Secondly most of the stressed assets are not backed by assets and finally have to
Fibre2Fashion
Toggle navigation 01 Welcoming the Union Budget 2021-22 presented by finance minister Nirmala Sitharaman today,
Apparel Export Promotion Council (AEPC) chairman Dr A Sakthivel said the Budget takes care of all the sectors and will ensure robust economic recovery going forward. He thanked the ministry of textiles for the encouragement given to the man-made fibre (MMF) sector. “I sincerely thank the finance minister for taking care of all the sectors including the apparel sector. This is one of the finest budgets considering the current situation due to the coronavirus pandemic. All key sectors like health, agriculture, infrastructure, finance and skilling have been covered well. It will improve the economy,” Sakthivel said in a press release.
Union Budget 2021: Nirmala Sitharaman should announce policies to generate demand, boost consumption In the upcoming Union Budget, the expectation is that there will be further incentives to the manufacturing industry in a bid to help its recovery post-COVID-19 Kumar Deepak January 30, 2021 00:25:07 IST Manufacturing needs a boost now. Image courtesy Wikimedia Commons
For the manufacturing sector, 2020 was one of the toughest years due to COVID-19 . Given the unprecedented times, the emphasis for every company has shifted to cash flow management. Atmanirbhar Bharat initiative is already central to the government’s core agenda in transforming India’s manufacturing sector.
In the upcoming Union Budget, the expectation is that there will be further incentives to the manufacturing industry in a bid to help its recovery post-COVID-19.
Fibre2Fashion
Toggle navigation 29
Jan 21
A portion of the Cover Page of Economic Survey, 2020-21, Volume - 1. Pic: Ministry of Finance Covid-19 pandemic has triggered the worst global recession in 2020 since the Great Depression; the adverse economic impact is, however, expected to be lesser than initially feared, says the
Economic Survey 2020-21 tabled by Union finance minister Nirmala Sitharaman in Parliament today. It adds that India will end with an annual current account surplus after a period of 17 years. The resulting economic crisis has led to a sharp decline in global trade, lower commodity prices and tighter external financing conditions with varying implications for current account balances and currencies of different countries.