'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Telecom major Airtel has decided against renewing the title sponsorship contract with the BCCI for India's international matches at home leading to the Board calling a marketing committee meeting in Mumbai, on Thursday.
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.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Deputy Chief Minister and NCP leader Ajit Pawar said farmers as well as the NCP and other parties are opposed to the new bills. "Farmers think that the laws are not beneficial for them. There was no hurry (to pass them)," he said.
"The conduct of opposition leaders in the Upper House of Parliament on Sunday was shameful, irresponsible and utter disrespect to parliamentary rules and dignity," Union Minister Ravi Shankar Prasad said.
Retirement fund body EPFO is likely to approve this month a proposal to enhance its investments in equites to up to 20 per cent of the investible deposits from the current limit of 15 per cent. The proposal is expected to be considered and approved during the EPFO trustees' meeting scheduled to be held on July 29 and 30, according to a source. At present, EPFO can investment 5 to 15 per cent of the investible deposits in equity or equity-related schemes.
Thousands of people joined a public rally organised by Nagaland People's Action Committee (NPAC) on Friday to demand an early solution to the Naga political issue.
The sector seems set for a rally that may be somewhat temporary.
The BCCI's top brass will be engaged in a series of meetings in Chennai on Saturday to take a final call on the future of the cash-strapped IPL team Deccan Chargers and also seek to make a couple of important amendments to its constitution.
The RBI's mistake may have been in interpreting its mandate to maintain retail inflation at 4%, with 2% leeway in either direction, as being a mandate that permitted it to do nothing even when inflation was at or near the upper bound of 6%, observes T N Ninan.
According to the roadmap approved in 2019 with the involvement of Asian Football Confederation (AFC) and agreed to by the stakeholders, the I-League champion team of this season (2022-23) as well as that of next year (2023-24) was to get a direct slot in the corresponding next season of top-tier ISL.
'All imaginary figures are pushed by government bureaucrats.' 'They never showed that the production of wheat was less this time.'
In 2013, China took over as India's largest trading partner.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
The Supreme Court on Tuesday permitted the Mumbai Metro Rail Corporation Ltd to pursue its plea with the relevant authority for felling 84 trees at Mumbai's Aarey Colony for constructing train ramps at its car shed project, saying it cannot be "oblivious of serious dislocation" which may be caused in projects involving "large public funds".
'At the heart of the strategic relationship between our countries are economic ties.'
In the Budget speech, Arun Jaitley had first spoken about the need to have a range.
He also announced unemployment allowance for the youth, as the party's fourth poll guarantee, on coming to power.
India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.
Political parties, agriculture experts and progressive farmers demanded such agri reforms for long, he said and attacked the opposition for misleading cultivators on the issue of MSP (minimum support price) and APMCs.
The President's assent to these bills comes amid the Opposition criticising the manner in which they were passed in Parliament.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Proceedings in both Lok Sabha and Rajya Sabha were disrupted as Opposition members raised slogans demanding a discussion and a Joint Parliamentary Committee (JPC) probe into the fraud-allegation-triggered rout.
But it would be unwise on the government's part not to heed the suggestions made by the experts group, set up by the Supreme Court, in particular the one on involving the states and giving them the flexibility in designing and implementing the farm laws, observes A K Bhattacharya.
The government is trying to send a signal it wants to stimulate the economy and the stock market.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
The United Arab Emirates has floated an initiative aimed at integrating securities markets of all member states of the Gulf Cooperation Council.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
There is confusion around the registration guidelines and the cut-off dates for acquiring the degrees.
Sensex and the Nifty reached an intra-day low of 19,318 levels and 5,845 mark, respectively.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
With a population of over one billion, FIFA chief Sepp Blatter feels India has become a big football market.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
The apex bank's observation on Tuesday comes at a time when global markets remain uncertain about the overall impact of the tsunami and the subsequently unravelling nuclear crisis in Japan.
Prices have continued to move up in Delhi's markets, wholesale and retail, on supply worries and spoilage due to record cold weather.
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