With decline in number of fresh COVID-19 cases and easing of restrictions, the country's gross domestic product (GDP) will grow at 8.5 per cent in FY2021-22, according to credit rating agency Icra Ratings. It expects the gross value added (GVA) at basic prices (at constant 2011-12 prices) to grow at 7.3 per cent in FY2022. "The impact of the second wave of COVID-19 and the ensuing state-wise restrictions was seen across a variety of high frequency indicators in April-May 2021.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
Japan's public has been lukewarm about the Games amid a resurgence in new coronavirus infections and worries that an influx of visitors may create a super-spreader event, straining an already-stretched medical system. Only around 20% of the population is fully vaccinated.
The average rate of COVID-19 vaccination in the country has been 10.8 million per week. At that rate, it will take India till December 2024 to complete two billion doses.
Budget for 2022-2023 has returned to its agenda for protectionism in the name of creating a self-reliant India, points out A K Bhattacharya.
Of course, Kohli could remain captain in ODIs, in which his performances are still top drawer, but another Test captain could help him recover form, recommends Suhit K Sen.
'We've seen significant change in batting and it's worth it to give him that extra bit of time'
Athletes will need to provide a negative COVID-19 test taken less than 72 hours before arriving in Japan for the Olympics and will be tested "every 96-120 hours" during the Games, according to a report published by organisers.
The Reserve Bank's growth projection for next financial year is lower than 8-8.5 per cent projected by the finance ministry in the recent Economic Survey which was tabled in Parliament on January 31. Unveiling the bi-monthly policy, RBI governor Shaktikanta Das said, "Recovery in domestic economic activity is yet to be broad-based, as private consumption and contact-intensive services remain below pre-pandemic levels."
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
The reduced severity of Omicron is good news for now, but it is the result of an "evolutionary mistake" as Covid-19 is transmitting very efficiently and there is no reason for it to become milder, indicating that the next variant could be more virulent, a leading Indian-origin scientist from the University of Cambridge has warned.
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
India's economy is showing signs of slowdown, with hi-frequency indicators like industrial output posting subdued growth and automobile sales touching historical lows.
S&P Global Ratings on Wednesday said the second wave of COVID infections poses downside risks to India's GDP and heightens the possibility of business disruptions. The second wave brings in uncertainty and a drawn-out COVID outbreak will impede India's recovery, it said.
Banks such as IndusInd Bank, Federal Bank, DCB Bank and Axis Bank which have renewed their focus on secured loans may be, hence, walking on a tightrope.
The Centre on Tuesday told the Supreme Court that China has made a huge build-up in the Tibet region and the Army needs broader roads to move heavy vehicles up to the India-China border to avoid a 1962 war-like situation.
"The Election Commission, in my opinion, is theoretically correct. But, it is also true that the Election Commission had directed the administration to transfer officials with administrative duties and post them according to its direction at the time when it was in charge of the election. "If offences had occurred as a consequence of the polls, it was also the duty of the Election Commission at least to direct or advise the administration to register the complaints which it did not," Justice IP Mukerji observed.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
'Our proactive detection rate for hate speech in India is close to 97 per cent -- which means that of the hate speech content we remove, we detect 97 per cent of it proactively, even before anyone reports it.'
'There are obvious concerns regarding revenue leakage which is understandable, but there are also concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests.'
The second wave of the coronavirus pandemic is likely to delay recovery in air passenger traffic with an 80-85 per cent growth year-on-year this fiscal against the earlier estimate of 130-135 per cent, ratings agency ICRA said on Monday. The domestic passenger traffic, which witnessed a steady ramp-up after resumption of airport operations since May 25 last year and reached 64 per cent of the previous year levels in February, has again suffered a setback, the ratings agency said in a report. The spike in coronavirus infections towards March-end and April has resulted in several state governments implementing fresh restrictions, resulting in a marginal 0.7 per cent de-growth sequentially in traffic in March.
The broad trends of GST collections will make you wonder if indeed the biggest indirect tax reform in the country has led to a real improvement in revenues, notes A K Bhattacharya.
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
However, he didn't rule out that some players might have harboured thoughts about Clarke's assumption that they "sucked up to" Indian skipper Virat Kohli in fear of losing out on IPL pay-checks.
The figure is based on the base price of spectrum for the upcoming auction fixed by the TRAI and on the assumption that there will be no bidding war.
The government has to focus on real solutions, not make a mockery of the crisis through 'vaccine festivals',' asserts T N Ninan.
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
Mental health guru and life coach Anu Krishna offers relationship advice to readers.
BCCI official says while the board has tightened the system further, issues raised by players are swiftly answered by the finance department.
'As valuations of large-caps appeared to be out of whack, investors started lapping up quality mid-caps and small-caps, which were available at relatively comfortable valuations.'
India is looking at near close to double-digit growth this year and the country will be one of the fastest-growing economies, Finance Minister Nirmala Sitharaman has said. The minister also emphasised that she expects the economic growth next year to be in the range of 7.5-8.5 per cent, which will be sustained for the next decade.
Based on whether you choose the aviation, Bhopal or LIC numbers, and on the official death toll (in the absence of any other verifiable number), the value of human lives lost in the pandemic would range from Rs 16,500 crore to Rs 94,000 crore, explains T N Ninan.
Delhi has come to accept the Taliban takeover in Kabul as a reality and seems increasingly unsure of its dogmatic view of the Taliban as a mere proxy of the Pakistani military and security establishment, observes Ambassador M K Bhadrakumar.
The Omicron variant carries 'concerning' mutations that may make it more transmissible and allow it to evade immunity, scientists said on Monday, stressing that the one certainty in the uncertainty of the many things unknown is this -- COVID is not a short-term crisis and vaccines are still a critical tool.
Given the robust and statute-based death registration system in India, while some cases could go undetected as per the principles of infectious disease and its management, missing out on the deaths is unlikely, the Union health ministry said.
'By killing innocent people, they are using Sun Tzu's tactics of 'kill one, terrify thousands.'
'Given this dissonance between India's age-old multicultural tenets and the anti-minority temper of the present times, it cannot be easy for the BJP to maintain its balancing act to convince the world that all is well,' observes Amulya Ganguli.
Any defeat for the BJP now would imply that anti-incumbency against Modi has set in, says N Sathiya Moorthy.
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