Govt. of India signs Share Purchase Agreement with Tata Sons for Air India

The Union Government signs a Share Purchase Agreement (PSA) with Tata Sons’s subsidiary company Tata Talace Pvt. Ltd. for Air India. This marks the exit of the government in the full-carrier business. Post signing of the agreement the salt-to-software conglomerate have to give Rs 2700 crores in cash and rest Rs 15,300 crores will be absorbed as debt as part of the government’s conditions to finally takeover the Maharajah. Continue reading Govt. of India signs Share Purchase Agreement with Tata Sons for Air India

IMF Chief Gita will be back to Harvard next January

Gita made history when she joined the Washington-based Global lender as the first women Chief Economist. Before joining the IMF as Economic Counsellor and Director of Research Department, she was the John Zwaanstra Professor of International Studies and Economics department at Harvard University.

Continue reading IMF Chief Gita will be back to Harvard next January

World Bank president David Malpass congratulated India on a successful vaccination campaign against Covid-19 as he met Finance Minister Nirmala Sitharaman

Malpass congratulated Sitharaman on India’s Covid-19 vaccination campaign and thanked her for India’s international role in vaccine production and distribution.

Continue reading World Bank president David Malpass congratulated India on a successful vaccination campaign against Covid-19 as he met Finance Minister Nirmala Sitharaman

A brief on inflation

It is a bonanza for energy investors, as India faces a crisis in coal due to accelerated demand post-pandemic and heavy rains lashing out the coal-bearing areas affecting the supply chain. But why? Inflation is the answer. What is inflation? Inflation is the rise in the prices of goods and services in an economy. Inflation measures the rate at which the price of basic commodities … Continue reading A brief on inflation

India to do away with SEP as we enter a new multinational tax regime

On October 13, Finance ministers of G-20 countries are to finalize the Organization of Economic Co-operation and Development (OECD) tax deal in Washington. 136 countries, including India have agreed to abide by the major international tax reform, which will ensure that multinationals pay a minimum tax of 15% on their overall income from 2023 and if profits are above the threshold, they will have to … Continue reading India to do away with SEP as we enter a new multinational tax regime

Govt of India issues Letter of Intent for Air India confirms DIPAM Secretary

Govt. of India issues Letter of Intent (LoI) to Tata Group for Air India sale. The Tata Group had to sign the LoI within 14 days and then a Share Purchase Agreement will be signed between the government and the Tata Group. The transaction will be completed by the end of December. Continue reading Govt of India issues Letter of Intent for Air India confirms DIPAM Secretary

Height of misery: Cuttack’s Jari Medha artisans suffer as a result of idol restriction

Due to the COVID-19 pandemic, the Odisha government has instructed all puja committees to limit the height of Durga idols to within four feet. As a result, about 300 jari medha artisans have been unable to work on puja pandals. Continue reading Height of misery: Cuttack’s Jari Medha artisans suffer as a result of idol restriction