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Showing posts with the label Economics Affars

PM Modi launches Rs 20,050 crore scheme for fisheries sector

Money Control Dated 10.09.2020 By Prime Minister Narendra Modi on Thursday launched Rs 20,050 crore-Pradhan Mantri Matsya Sampada Yojana (PMMSY) to boost production and exports in the fisheries sector as part of the government''s aim to double farmers'' income. Through video conference, the Prime Minister also launched several other initiatives in the fisheries and animal husbandry sectors in Bihar, a state which is heading for the assembly polls in October-November. Modi launched a mobile app e-Gopala that will provide solutions to farmers on livestock related issues and inaugurated Semen Station with state-of-the-art facilities in Purnea with an investment of Rs 84.27 crore on 75 acres of land made available by the Bihar government. After the launch, the Prime Minister interacted with farmers focusing on the livestock and fisheries sector. The PMMSY is a flagship scheme for focused and sustainable development of fisheries sector in the country with an estimated invest...

Moody's rates TCS, Infosys, RIL above the sovereign

LIVEMINT July 03, 2020 Moody's Investors Service has rated Tata Consultancy Services (TCS), Infosys and Reliance Industries above the sovereign due to their strong financials and significant global earnings. Moody's said the stable outlooks on Genpact and UPL Corporation, in contrast to the negative outlook on India's Baa3, rating reflect that they can maintain their current ratings if the sovereign was downgraded to Ba1. Two other companies' ratings are capped at the same level as the sovereign rating. Oil and Natural Gas Corporation's and Petronet LNG's credit quality is also stronger than the sovereign's. But their ratings are capped at Baa3 because of their strong links with the government or other government-owned entities. Investment-grade IT companies' global operations and minimal reliance on domestic funding allow them to be rated up to two notches above the sovereign. TCS and Infosys are rated two notches above the soverei...