Nepal raised objection to India's newly-inaugurated road linking Lipulekh Pass with Dharchula in Uttarakhand.
The Reserve Bank is scheduled to come out with second quarter monetary policy review on October 30.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
The minimum size of each bid would be $10 million and in multiples of $1 million thereafter.
Budget clearly prioritised growth over fiscal consolidation, said Atsi Sheth, Senior VP, Moody's Investors Service.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
Who's calling the shots in the party, asks Aditi Phadnis.
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
Sector to see funding push; tax reforms as well as sops to wait longer.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
Softening the demonetisation blow, the Budget for 2017-18 on Wednesday halved the tax to 5 per cent on incomes up to Rs 500,000 but proposed a new surcharge of 10 per cent on incomes between Rs 50 lakh and Rs 1 crore and raised duties on cigarettes and pan masala while stepping up allocations for infrastructure, rural, agriculture and social sectors.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The video conference, which began at 11 am, comes amid indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over.
'So far, no government has imposed a financial emergency in the country,' notes A K Bhattacharya.
Children's plans contribute close to 10 per cent to the total premium collected through the 50-odd life insurance products across the country.
A K Bhattacharya wonders if Kisan Baburao Hazare get his timing wrong, or is Finance Minister Pranab Mukherjee trying hard to get his timing right?
There's no silver bullet to get rid of poverty, says Alok Sheel.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
Concerned over surging prices, Finance Minister P Chidambaram said on Friday the government will not hesitate to take more fiscal and monetary measures to contain inflation.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Falling private sector investment and farm distress are problems that call for immediate attention, says T N C Rajagopalan.
'I urge the government to put aside vendetta politics, and reach out to all sane voices and thinking minds, to steer our economy out of this man-made crisis'
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
'The lessons learnt from the triple disaster have put Japan's energy future On the right path,' notes Dr Rajaram Panda.
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Economic Affairs Secretary Arvind Mayaram said India had brought its fiscal deficit down more sharply and quickly than any other country, but managing the current account deficit was more complicated because the government had less control of it.
The finance minister has increased the quantum of rural credit, with particular emphasis on short-term crop loans for small farmers and focussed heavily on improving food storage and processing infrastructure as well as supply chain management.
The Reserve Bank of India on Thursday warned of difficult days ahead, saying inflation will remain at elevated levels for some more time while the economic growth rate will moderate in the current fiscal.pp
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
"Despite subdued growth in the world economy, India has maintained a GDP growth rate of 7.2 per cent in 2014-15, 7.6 per cent in 2015-16 and 7.1 per cent during April to September of 2016-17," the commerce and industry minister said in a written reply during Question Hour in the Lok Sabha.
Shifting to a PPP model could repeat the errors of the past
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
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