Feb 19, 2016 - Where is the govt spending its money and where is it cutting back?

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Sree Vijaykumar From the Editor's Desk So, the Make in India event has closed with over Rs 15.2 trillion in MOUs signed. Data from the Directorate of Economics and Statistics shows that only 8% of commitments made during Modi's 11 years of Vibrant Gujarat summits turned into actual investment. One can expect the reality to be less rosy this time too. However, one of the encouraging things to see at the Make in India event was the participation of 17 states, several of whom jumped on the bandwagon at the last minute. One could see senior bureaucrats and ministers vying for projects with offers of land, uninterrupted electricity and even a sober workforce (Karnataka) - Comment Where is the govt spending its money and where is it cutting back? April-December figures show that public capex has jumped by one-third compared with the budgeted 6.5% Complimentary Report :Convergence, Competition, Commotion- Insights from the Global C-suite Study - The CMO perspective As customer experiences take center stage, the role of the CMO is expanding into new territory. The study investigates how the top 6% of CMOs are successfully taking the reins. Read on to know more as to how a modern day CMO embraces creative destruction by enriching the arc of engagement and Increasing the digital acumen. New insurance scheme aims to cover 50% of farmers Pradhan Mantri Fasal Bima Yojana will kick in from April, before planting for the next rain-fed kharif crop begins India sees resurgence of micro venture capital funds; investors focus on early-stage investing In a way, these funds serve to keep deal flow alive for later-stage VCs like Sequoia Capital, SAIF Partners and Helion Advisors. Private equity firm Samara Capital files winding-up petition against Guardian Lifecare Both the companies are also fighting another legal case over the ownership of “Guardian” brandname and royalty payments. Make in India, finance in UK: Harriett Baldwin Interview with UK Economic Secretary to the Treasury Will changing nature of jobs worsen gender gap? India has one of the worst gender gaps in the world when it comes to labour force participation How Printo’s Manish Sharma lost his start-up and got it back In Printo founder Manish Sharma’s version, he is the good guy. His former funder, VC firm Sequoia, the bad guy. But that’s only one version Daimler India signs MoU with Tamilnad Mercantile Bank Daimler India Commercial Vehicles (DICV), a wholly-owned subsidiary of Daimler AG, signed a Memorandum of Understanding with Tamilnad Mercantile Bank (TMB) to provide tailor-made financing packages to customers across the country for modern BharatBenz trucks and buses. PwC's Shinjini Kumar to head Paytm's payments bank Shinjini Kumar, who is currently a director at research and consultancy firm PricewaterhouseCoopers (PwC), will join Paytm’s payments bank as CEO 'Make in India Week' gets Rs 15.2 lakh crore investment commitments DIPP Secretary Amitabh Kant said: "Maharashtra will become gateway of India", testifying to the success of the event held in the state capital. Budget 2016: Here's what GST will do for the Indian economy For all the bombast, it is possible to see the still relatively new premiership of Indian leader Narendra Modi as a disappointment. Jaypee deal with UltraTech hits hurdle Jaypee’s two cement assets will be folded into a larger deal under which it seeks to divest entire cement capacity Jaitley may raise exemption threshold to Rs 3 lakh The ministry had opened online voting through its Twitter handle for five days, seeking public opinions for four questions relating to Budget on February 11. Private Equity Giant KKR Buys 10% Stake in Max Financial US private equity firm KKR acquires nearly 10% stake in Max Financial Services - Max Financial Services is the newly demerged entity of the Max Group that owns an approximate 72% stake in Max Life, country's fourth-largest private life insurance player. Will reducing deposit rates on small savings scheme lead to better monetary transmission? Unless the govt reduces interest rates on NSSs further and makes them comparable to bank rates, the revision in the small savings rate may not make much of a difference Europe bond crisis casts shadow on Indian banks Raising Tier-1 capital may be difficult due to CoCo bond trouble Costa Coffee to focus on making India outlets profitable “What we have now come to know is that this business can be very profitable for us if we do the right things rather than chasing numbers,” said Virag Joshi. Lenskart plans to expand operations through franchise model Reliance Retail operates Indias largest chain, with more than 3,000 stores in 371 cities. Lenskart, based in Faridabad, already operates 150 stores. Online retail store Jaypore raises Rs 30 crore in funding from Aavishkaar The investment will be made in two tranches, and is the first such made by Aavishkaar in an ecommerce venture. E-commerce boom in India attracting artisans, entrepreneurs from slums across the country “Earlier I used to work for Rs 15K/mth as craftsman of leather jackets. Now I earn Rs 15L/mth by selling jackets to mkts like US, UK, Canada,” said one such artisan. Are bookstores back? Yes, no, maybe The need is being felt again. But this time, they are adding a few tweaks to entice the public Fast forward to click-and-brick retail Challenges abound as shoppers switch between online and offline stores Coca-Cola India to make 'Maaza' $1 bn brand by 2023 In a bid to increase the market share of its non-carbonated drinks, beverage major Coca-Cola India today said it plans to make its mango fruit juice product ’Maaza’ a USD 1 billion brand (in retail sa India Ratings downgrades Indian telecom sector Indian telecom sector outlook 'stable-to-negative': Ind-Ra - "The rating agency expects the launch of Reliance Jio to intensify competition in the telecom space." India's stand on free internet Helani Galpaya is CEO of LIRNEasia, a pro-poor, pro-market think tank working on ICT and infrastructure regulatory and policy issues ... India telecoms gross revenue up 4 per cent to Rs 64996 crore in Q3: TRAI NEW DELHI: Telecom watchdog Telecom Regulatory Authority of India (TRAI) said that Indian telecom operators’ gross revenue rose 4.08 per cent year on ... Is India's Freedom 251, a $4 Smartphone, Too Good to Be True? A little-known Indian company has announced grand plans to sell millions of made-in-India smartphones for less than $4 a piece, despite the fact that it has only been in the smartphone business for five months and has yet to build a factory. Committed to India as long term investor: Vodafone The top three telecom operators in India – Vodafone, Airtel and Idea Cellular – added 8.22 million active connections in November 2015, accounting for 65% of active connections, and 169% of total active added connections. Their growth is outpacing the rest, as, together, they accounted fo India Ratings revises outlook on telecommunications services sector for FY17 to stable-to-negative The agency expects the launch of Reliance Jio Infocomm Limited (RJio) to intensify competition which will squeeze the market share, EBITDA margins and credit metrics of incumbents. Ind-Ra expects voice revenue to moderate in FY17 on stagnant minutes of usage (MoU) and further competition in call realisations. Why Rs 251 mobile phone defeats the purpose of 'Make in India' Alleging unfair price under-cutting, the mobile manufacturers association is calling for a government probe into the costing of the phone. Eyebrows were also raised at the similarity in looks between the phone and Apple's iconic iPhone. Electrifying India: How effective a tool would 4G prove to be? Rolled out on 1 July 2015, the PM Modi-initiated-Digital India has amplified the significance of enhancing online infrastructure and internet connectivity. Union Budget 2016: Telecom Sector's Expectations Budget 2016: It is imperative that the Government comes out with a clarification, as levy of VAT would add significant cost to an already tax laden telecoms sector. IBM India revenue touches $3.5 billion, but profit declines IBM India, which is headed by company veteran Vanitha Narayanan, also forecast that it would continue to post healthy growth in the near term. Xpressbees secures Rs 85 crore in funding from its existing investors includes SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital The funding will be used to upgrade Xpressbees technology and expand its operations, said Amitava Saha, the companys CEO. How this e-commerce startup positioned itself against Amazon, Flipkart and others Shopeyard reaches out to students and job seekers as an integrated portal for study material needs of students and job seekers Vadodara-based Kreate Konnect wants to make e-commerce selling easy for sellers worldwide Kreate Konnect syncs, directs, manages, and automates all the processes of an e-commerce establishment. Ringing Bells receives 30,000 orders for Rs 251 smartphone “The ministry is keeping a close watch due to the huge consumer interest at stake,” a person familiar with the matter said. 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