'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
'As far as contract farming is concerned, we already have a model Act and states will be encouraged to adopt them.'
From smart cities to gold, the fallout of the Chinese meltdown will have far-reaching consequences
During the virtual meet, Biden and Modi will discuss cooperation on a range of issues, including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, White House Press Secretary Jen Psaki said.
Continuing their selling spree for the sixth consecutive month, foreign investors pulled out a massive Rs 41,000 crore from the Indian equity market in March on anticipation of rate hikes by the US Federal Reserve and deteriorating geopolitical environment amid the Russia-Ukraine war. Further, flows from foreign portfolio investors (FPIs) are expected to remain volatile in the near term given the headwinds in terms of elevated crude prices and inflation, experts said. According to data available with the depositories, FPIs were net sellers to the tune of Rs 41,123 crore in the equity market last month.
China is on the offensive. Long a bystander in international economic affairs, Beijing has in recent weeks announced a string of initiatives for remoulding the global financial system. And they all have one target - knocking the US dollar off its perch.
Capital markets regulator Sebi has tweaked peak margin rules which will bring huge relief to traders and brokerage houses that have been incurring high margin penalties so far, experts said on Wednesday. Under the new framework, the beginning of the day margin will be considered as peak margin. This is only in respect of the collection of upfront margin. The peak margin rule that was implemented last year restricted brokers' ability to fund clients' intraday positions.
The phone conversation between Jaishankar and Blinken came days after Russian Foreign Minister Sergey Lavrov paid a two-day visit to India.
The current operating environment remains highly volatile and persistent inflation will likely impact demand across categories, Tata Consumer Products Ltd chairman N Chandrasekaran said on Monday. To navigate through these "short-term bumps" in this uncertain environment, the company will focus on strong execution, maintaining agility and nimbleness," he said while addressing shareholders at the annual general meeting (AGM). "Geo-Political tensions, supply chain challenges, and demand-supply mismatches in crude and several other commodities are driving persistent inflation, which will likely impact demand across categories.
'The corruption charges in FCI are not the first and won't be the last.'
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Jonny Bairstow's 66 off just 29 balls, with the help of four boundaries and seven sixes, laid the foundation for Punjab Kings' 54-run victory over Royal Challengers Bangalore in Mumbai on Friday.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
Retail inflation eased to 7.04 per cent in May, mainly on account of softening food and fuel prices as the government as well as the RBI stepped in to control spiralling price rise by way of duty cuts and repo rate hike. However, the inflation print stayed above the Reserve Bank's upper tolerance level of 6 per cent for the fifth month in a row. The Consumer Price Index (CPI) based retail inflation was 7.79 per cent in April.
"We wanted to give a strong message to the government that we will not leave this site until we win this fight," said Ramjit Singh.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
India's macroeconomic environment is improving, but it is still not past the point where it can ignore the developments in the global markets
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
Britannia Industries will take higher grammage cuts instead of increasing prices in a bid to tackle rising inflation, the firm said. The biscuit major took a 10 per cent price hike in financial year 2021-22 (FY22) and resorted to reducing pack sizes as an indirect way of increasing prices. In the previous financial year, the ratio of grammage reduction was 65 per cent, which will be higher in FY23.
Haridwar hate speech accused Jitendra Narayan Tyagi, who has been asked by the Supreme Court to surrender by September 2, said his life is in danger and he may be killed in a suicide attack.
The manufacture, import, stocking, distribution, sale and use of following single-use plastic, including polystyrene and expanded polystyrene, commodities shall be prohibited with effect from July 1, 2022: ear buds with plastic sticks, plastic sticks for balloons, plastic flags, candy sticks, ice-cream sticks, polystyrene (thermocol) for decoration; plates, cups, glasses, cutlery such as forks, spoons, knives, straw, trays; wrapping or packing films around sweet boxes, invitation cards, and cigarette packets, plastic or PVC banners less than 100 micron, stirrers, the notification read. The provisions will not apply to commodities made of compostable plastic, the notification said.
Union Finance Minister Nirmala Sitharaman on Tuesday said the mass consumption items such as pulses, wheat, rice, flour, and curd will not attract the 5 per cent goods and services tax (GST) when sold loose, and not pre-packed or pre-labelled. The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise. The all-powerful GST Council, chaired by the Union minister, had last month decided to impose GST on some mass consumption items to simplify the rate structure, which came into effect on Monday.
Salim Durani was the 'people's man', whose impact can never be quantified by the 29 Test matches that he played over 13 years between 1960 to 1973, or the 1200-plus runs he scored and 75 wickets he took with his mean left-arm spin.
Despite mounting pressure, Gotabaya, and Prime Minister Mahinda have refused to quit office.
'We need to encourage the next generation of farmers to continue in farming'
Finance Minister Nirmala Sitharaman has said the recent interest rate hike by the Reserve Bank was not surprising for her but the timing was, asserting that the rising cost of funds will not impact the government's planned infrastructure investments. For the first time since August 2018, RBI had on May 4 delivered a blunt 40 basis points increase in key repo rate to 4.40 per cent, and also hiked the cash reserve ratio by 50 basis points to 4.5 per cent after an unscheduled meeting of the rate setting panel, citing increased inflation pressures following the Ukraine war and the resultant spike in crude oil prices. Retail inflation printed at 6.9 per cent in March and the April reading is forecast to top 7.7 per cent.
'Hope they don't tinker around with capital gains tax in any way.'
Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event of auto industry body SIAM on sustainable mobility, the minister said the government is working in multiple ways to encourage sustainable mobility. "India recently achieved 10 per cent ethanol blending target 5 months in advance, saving over Rs 41,000 crore worth of fuel imports for the nation," Choubey noted.
As macroeconomic fundamentals improve, Sensex will make new highs. Here're stocks that can give good returns.
While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
The Russia-Ukraine conflict would have nil or negligible impact on India's foreign trade, and the crisis may give domestic exporters an opportunity to ship more wheat in the global markets, sources said on Thursday. India's central pool stood at 24.2 million tonnes, twice more than the buffer and strategic needs, they said. More than a quarter of the world's wheat export comes from Russia and Ukraine.
'In a country like India where entrepreneurship is not common except in commercial or merchandise families, the situation is different today.'
The currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
Congress' chief spokesperson Randeep Surjewala said the 'Nav Sankalp Chintan Shivir' is also aimed at deliberating on challenges facing the country such as "freefall of the economy", increasing inequality of wealth, price rise of essential commodities, "deep-rooted conspiracy" to hand over farming sector to a select group of private corporates, "attack on India's territorial integrity by China, "attack" on rights of Dalits, SCs/STs, minorities and attempts to divide by using Hindu-Muslim rhetoric.
A Delhi court on Friday sent former Delhi deputy chief minister Manish Sisodia, arrested in a money laundering case related to the excise policy, to the Enforcement Directorate's custody till March 17.
'I don't know if it's symbolic of where the game itself is at around the globe, but I see it as an absolute positive to be honest.'
The government will have to move a bill in Parliament to repeal the three agri laws, which were at the centre of protests by farmers for the past year, Constitution and legal experts said on Friday.
American brokerage firm Morgan Stanley on Thursday sharply cut its India FY23 real GDP growth estimate to 7.9 per cent, mainly due to the impact of the Russia-Ukraine conflict on oil prices. Analysts at the brokerage also raised their inflation forecast to 6 per cent - the upper end of the tolerance band for the RBI - and flagged stagflation risks because of the ongoing events. "We believe that the ongoing geopolitical tensions exacerbate external risks and impart a stagflationary impulse to the economy," they said. It can be noted that stagflation involves a stagnancy in output or growth, coupled with high inflation.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
