Lotus will now bloom in Karnataka, Kerala, says Yogi Adityanath

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

New Delhi, Jun 30: In a huge blow to popular apps such as TikTok, the Indian government has banned as many as 59 apps that are owned by Chinese companies. The latest announcement comes close on the heels of a rumour of the same, which was termed a hoax by the government. A press release by the Ministry of Electronics and Information Technology has listed 59 apps that will be blocked on internet and non-internet served devices in India, citing reasons that these apps "are engaged in activities prejudicial to sovereignty and integrity of India, defence of India, the security of state and public order."

Government of India's orders follow the tensions rampant at the Indo-China border after some Indian soldiers were martyred at the Galwan river valley. Ever since the incident, there has been an uproar on social media urging boycott of anything that is related to China, including smartphone brands and apps. While there has been no announcement for the Chinese smartphone brands, the government has immediately blocked as many as 59 apps in India. This means they will not function in India, in addition to their discontinuation on both Google Play Store and App Store at large.

Here are the 59 Chinese apps that have been blocked by the Indian government:

1.            TikTok

2.            Shareit

3.            Kwai

4.            UC Browser

5.            Baidu map

6.            Shein

7.            Clash of Kings

8.            DU battery saver

9.            Helo

10.          Likee

11.          YouCam makeup

12.          Mi Community

13.          CM Brower

14.          Virus Cleaner

15.          APUS Browser

16.          ROMWE

17.          Club Factory

18.          Newsdog

19.          Beauty Plus

20.          WeChat

21.          UC News

22.          QQ Mail

23.          Weibo

24.          Xender

25.          QQ Music

26.          QQ Newsfeed

27.          Bigo Live

28.          SelfieCity

29.          Mail Master

30.          Parallel Space

31.          Mi Video Call - Xiaomi

32.          WeSync

33.          ES File Explorer

34.          Viva Video - QU Video Inc

35.          Meitu

36.          Vigo Video

37.          New Video Status

38.          DU Recorder

39.          Vault- Hide

40.          Cache Cleaner DU App studio

41.          DU Cleaner

42.          DU Browser

43.          Hago Play With New Friends

44.          Cam Scanner

45.          Clean Master - Cheetah Mobile

46.          Wonder Camera

47.          Photo Wonder

48.          QQ Player

49.          We Meet

50.          Sweet Selfie

51.          Baidu Translate

52.          Vmate

53.          QQ International

54.          QQ Security Center

55.          QQ Launcher

56.          U Video

57.          V fly Status Video

58.          Mobile Legends

59.          DU Privacy

New Delhi, Feb 8: Arvind Kejriwal is set to return as Delhi chief minister and his Aam Aadmi Party (AAP) will virtually sweep the assembly elections, exit polls predicted Saturday.

As polling came to a close at 6 pm, with the Election Commission of India (ECI) projecting a voter turnout at 60.24% (as of 9:50 pm), a poll of polls covering 10 exit polls gave 52 seats to AAP, 17 to the Bharatiya Janata Party and one to the Indian National Congress.

The polls, which are sample surveys conducted among voters exiting polling booths, signalled that the Delhi voter responded to AAP’s campaign that focused on “kaam”, or getting work done.

Kejriwal, a former civil servant and activist who stormed into electoral politics with an anti-corruption campaign in 2013, led a campaign focusing on the development work his government did in Delhi, especially in education and healthcare, as well as sops such as lower electricity bills and free bus rides for women.

The exit polls gave AAP between 47 and 68 seats in the 70-member Assembly.

They predicted an absolute rout for Congress, which ruled Delhi for three terms between 1998 and 2013. The maximum seats to AAP were given by India Today TV-Axis exit poll, which predicted 59-68 seats for the party, while giving 2-11 for the BJP and none to the Congress.

If these figures hold, the results will come as a disappointment for the BJP, which had hoped its sweep in the Lok Sabha elections in 2019 would reflect in the assembly polls.

Delhi’s voter turnout saw a sharp fall over the 2015 elections. According to the Election Commission of India, voter turnout till 9 pm was projected at 60.24% — lower than 67.12% in 2015.

Traditionally, a lower voter turnout is read as a vote for the incumbent.

The voter turnout in Delhi has been similar during the Congress regime under Sheila Dikshit, when she won consecutive terms. In 2003, when Delhi voted a second time for the Dikshit government, the voter turnout was 53.42%, and a comparable 57.58% was the turnout in 2008.

Later, in two consecutive elections — 2013 and 2015 — voters turned out in big numbers to vote Dikshit out of power. In 2013, 65.63% of Delhi turned out and the percentage increased further to 67.12% in 2015.

Across constituencies, Matia Mahal in Central Delhi registered the highest voter turnout of 68.36%, whereas Bawana assembly constituency in North district saw the lowest turnout at 41.95%. Among districts, North East district registered the highest (62.75%) voter turnout, while the lowest turnout was recorded in South East district (54.15%), according to the ECI app.