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IT giant HCLTech announced on May 23 that it plans to acquire certain assets of Hewlett Packard Enterprise’s Communications Technology Group for $225 million, approximately ₹1,874 crore, in an all-cash transaction, as per an exchange filing. According to a joint statement from the companies, around 1,500 employees and 700 contractors experienced in telecom engineering services across various countries—such as Spain, …

Ever since the start of the Fourteenth Finance Commission award period, the Union government has been reducing financial transfers to States. Some basic math on tax revenue The Finance Commissions recommend the States’ share in the net tax revenue of the Union government. While the gross tax revenue of the Union government increased from ₹14.6 lakh crore in 2015-16 to …

Crore

SBI rejects Andhra Pradesh government's Rs 6,500 crore overdraft

Amaravati: The State Bank of India has rejected Andhra Pradesh government's Rs 6,500 crore 'overdraft' for implementing the Centrally With its coffers completely dry, the state government sought the overdraft to be used as working capital by five nodal implementing agencies "against securitisation of fund balances available in the Single Nodal Accounts." The "unusual and unheard of" request by the …

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the continuation of the Centrally The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the continuation of the Centrally The entire cost of the scheme will be Rs 9000 crore out of which the Centre will contribute Rs 5357 crore including Rs 50 crore for …

Rs 50 Crore

The Union Budget for 2021-22wasr esented in an unprecedented context. Compression of spending in 2020-21 Overall spending in agriculture in 2020-21 was cut by 13 per cent, from Rs.1.34 lakh crore to 1.17 lakh crore. Many other schemes in agriculture too faced cuts in spending: by 50 per cent in the Market Intervention Scheme and Price Support Scheme ; by …