The Economic Survey called for improving business environment.
The Biden administration's failure in stopping two major wars and several minor ones was seen as a major disaster by many Americans and the world at large, observes Ambassador T P Sreenivasan.
A bill will be brought in the assembly during the ongoing session, possibly this week according to sources in the cabinet.
The central government's Great Nicobar development project, proposed around an unprecedented transhipment port, will be executed to keep environmental impact minimal, and is essential as it is of national importance, the government has said amid calls to abort the controversial project due to ecological concerns, the Centre said in an official statement.
The Budget would preserve macro-economic stability.
It said while Indian IT services companies were the "disruptors" and had created the modern offshoring industry, they are now incumbents, challenged by a host of specialised and niche start-ups that have emerged in the new digital environment.
Unincorporated enterprises in the manufacturing sector lost nearly 1.8 million establishments and shed 5.4 million jobs between July 2015-June 2016 and October 2022-September 2023, an analysis of the fact sheet on 'Annual Survey of Unincorporated Sector Enterprises (ASUSE)' and the comparable 73rd round survey in 2015-16 by the National Statistical Office (NSO) showed. An estimated 17.82 million unincorporated enterprises operated in the manufacturing sector in October 2022-September 2023, nearly 9.3 per cent down from 19.7 million unincorporated enterprises in July 2015- June 2016.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
The proposed units comprise seven coking coal washeries and 13 non-coking coal washeries.
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, saying elevated consumer confidence will drive spending, besides increased investments. In June update to its global economic outlook report, Fitch said it expects inflation to decline to 4.5 per cent by end of this year and RBI to cut policy interest rates by 25 basis points to 6.25 per cent.
The adjusted gross revenue (earnings from sale of telecom services) of the top three telecom companies in India - Bharti Airtel, Vodafone India and Idea Cellular declined by 7.98 per cent, 5.14 per cent and 4.91 per cent respectively during third quarter of 2016-17.
While other backward classes had a share of 9 per cent, there were no scheduled tribe billionaires.
On the other hand, 16 or half of all states and Union Territories account for only 3 per cent of all exports.
The Commerce and Industry Ministry has circulated a draft Cabinet note for inter-ministerial consultations.
The fiscal deficit, as per the survey, deteriorated to 5.8 per cent of the GDP as compared to 3.4 per cent for 2018-19 estimated in the interim Budget.
Watch all the proceeding from the Parliament.
Policy rates have been reduced substantially in 2015.
The ban is also estimated to have prevented 18 lakh men in the state from becoming overweight or obese, it said.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
'Over the next 20 years, we would be adding almost 10 million people to the workforce every year!' 'And we won't be able to give employment to even 2 million out of the 10 million every year.' 'Don't forget, it keeps adding every year.'
The decline in inflation was broad-based across major commodity groups except housing and fuel and light.
'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Food subsidy bill rises 20% in April-January
The Nitish Kumar government in Bihar on Tuesday announced 10 per cent reservation for economically weaker sections (EWS) in the judicial services, and the state-run law colleges and universities.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
New estimates of India's gross domestic product (GDP) are "puzzling", Arvind Subramanian, chief economic adviser at the finance ministry, said on Friday.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
Many has termed the state government's move of considering 'third gender' a separate caste in the ongoing exercise as a 'criminal act'
India's share in world tourist inflows was only 0.64 per cent in 2012. It could only attract 6.97 million foreign tourists during 2013.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18.
'Rahul Gandhi is raising the issue of a caste census though his party has been doing injustice on this front from the 1950s.'
The unemployment rate for persons of 15 years and above in urban areas slipped to 8.7 per cent in October-December 2021 from 10.3 per cent in the year-ago quarter, showed a periodic labour force survey by the National Statistical Office (NSO). Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force. Joblessness was high in October-December in 2020 mainly due to the staggering impact of the lockdown restrictions in the country, which were imposed to curb the spread of the deadly coronavirus.
The wholesale price index inflation is projected at 6.4 per cent for 2017-18.
'The more educated a young person is, the higher the chances of him or her remaining unemployed.'
Among the bigwigs are Union ministers Amit Shah (Gandhinagar), Jyotiraditya Scindia (Guna), Mansukh Mandaviya (Porbandar), Parshottam Rupala (Rajkot), Pralhad Joshi (Dharwad) and SP Singh Baghel (Agra).
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