Top Headlines: Recruitment Plan Obstacles, India Inc Capital Spending

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There would be two major challenges to meet the target of recruiting one million in less than two years in the central government announced by Prime Minister Modi on Tuesday. A wind power project awarded to Adani Enterprises in March has become a bone of contention between ruling and opposition parties in Sri Lanka. Read more about it in our main titles.


Two likely hurdles as Modi government lays out plan to recruit 1 million people

There would be two major challenges to meet to achieve the target of recruiting one million in less than two years in the central government announced by Prime Minister Narendra Modi on Tuesday. This is even though, in all likelihood, India employs fewer people, compared to its global peers, in the number of people affected in key departments. Read more


India Inc’s capital spending slows despite rising net profit

The dramatic increase in corporate profits in fiscal 2021-22 (FY21) and FY22 did not lead to a corresponding boom in capital expenditure (capex), investments by listed companies in fixed assets growing only 2.3% year-over-year (YoY) in FY22, growing at the slowest pace in six years. By comparison, the companies’ combined net profit jumped 63.5% year-on-year in FY22, while net sales grew 31.1% – the fastest pace in more than a decade. . Read more


5 years of IBC: Loans taken out for telecoms, oil assets gobbled up Videocon

Videocon Industries (VIL) – once India’s largest consumer electronics company – was sent to bankruptcy court in June 2018 by the State Bank of India (SBI). This was after the consumer electronics-to-petroleum company failed to repay its debt and banks demanded Rs 64,637 crore from the company, according to the order of the National Company Law Appellate Tribunal ( NCLAT) in January of this year. Read more


5 years of IBC: Debt-ridden RCom awaits court approval to clear UVARCL bid

A missive from the Reserve Bank of India (RBI) prohibiting Asset Reconstruction Companies (ARCs) from bidding for bankrupt companies had derailed the insolvency process of Reliance Communications (RCom), owned by the Anil Ambani Group. While the RBI now plans to allow CRAs to bid for bankrupt firms, RCom’s resolution is now stalled in court. Read more


Adani Enterprises wind project caught in the crossfire in Lankan politics

A 500 megawatt (Mw) wind project awarded to Adani Enterprises in March has become a bone of contention between ruling and opposition parties in Sri Lanka. The controversy over Adani’s investment in the neighboring country stems from home power politics in which a bureaucrat has become collateral damage. Read more

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