Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel. Major drivers include equity and debt investments, deposits, and the international travel segment, among others. According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year.
Sports Minister Vijay Goel on Friday said the government has strengthened its resolve to make doping a criminal offence in order to instill fear in the minds of sportsperson who indulge in such practices.
Having made an indelible mark in the world of cricket, Sachin Tendulkar could now be associated with promotion of sports in schools and higher education by tapping and nurturing the potential for bigger gains in global events like Olympics.
The move will require modifications in Companies Act.
The government views dropout as a barrier to achieving the new National Education Policy's aim of 100 per cent gross enrolment rate at the school level by 2030, according to officials.
To help students pursuing higher education, the government plans o set up a higher education finance corporation.
An entire nation waited, praying and hoping fervently, as the countdown to touch down on the moon wound to a slow close on Wednesday with many thousands gathering in schools, places of worship and elsewhere and scientists doing last minute checks to ensure Chandrayaan-3 makes a soft landing on the lunar south pole.
Union Health Minister Harsh Vardhan on Friday clarified that he does not propose a ban on sex education as suggested by a prominent newspaper through banner headlines.
It is for the first time in the history of Independent India that not a single Muslim is part of the Union Cabinet.
The army has issued notifications on the modification in recruitment procedure for Agniveers and others.
The National Institute for the Visually Handicapped Regional Centre (Ministry of Social Justice & Empowerment, Govt, of India) invites applications from eligible candidate for admission to one-year BEd Special Education (Visual Impairment) course.
This was discussed at a meeting chaired by the Prime Minister's Principal Secretary, TKA Nair, on January 12 with the Indian Bank Association, industry bodies and human resource development ministry officials.
In reflection of their growing congruence in areas of defence and security, the two sides, following the Modi-Mitsotakis talks, agreed to set up an institutional dialogue at the level of national security advisors, and boost defence industrial cooperation.
Five days after the induction of 18 ministers into his cabinet, Maharashtra Chief Minister Eknath Shinde on Sunday allocated portfolios, keeping Urban Development and 11 other ministries with himself, while giving the crucial Home Department to Deputy CM Devendra Fadnavis.
'Its people are either victims of corruption or witnesses to it.'
The central government has given banks and credit card entities six to eight months to put in place the requisite reporting mechanism and related features to collect tax at source on international credit card transactions, a senior bureaucrat told Business Standard. According to the bureaucrat, the plan to bring overseas credit cards under the Liberalised Remittance Scheme (LRS) has not been mothballed and is simply being deferred so that banks get adequate time to get the system up and running. The official expects the reporting mechanism to be ready in the given time, and the rule could be implemented in the next financial year (2024-25, or FY25).
The Supreme Court on Thursday refused to entertain a plea seeking directions to the Centre and states to take steps to ensure indigenous cows are artificially inseminated only with the semen of "pure indigenous" bulls and not those of "exotic foreign" breeds.
Meet the civil servant who will take Prime Minister Modi's plans for education to another level.
The ATRs have been sought on a range of matters within four weeks, the officials said.
India has voiced deep concern over the deteriorating security situation and large-scale loss of civilian life in the ongoing Israel-Palestine conflict, urging the parties to work towards creating conditions necessary for peace and restarting direct negotiations through de-escalation and ending violence.
Vaishnaw on Saturday said he had ordered a high-level probe into the derailment on Friday night.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
Speculation about the missing Chinese Defence Minister General Li Shangfu may have been removed and detained became rife after he was conspicuously absent at the meeting of the Central Military Commission (CMC) in Beijing on Friday.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
'...that he was in talks with the SS-UBT and would return if his ministry was snatched away and given to one of the NCP ministers.'
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
D E Shaw, a global private equity firm with $36 billion in assets, is understood to be planning around $200 million investment in the Indian education sector by taking up strategic positions in companies offering e-learning, distant learning, vocational training and the like.
The last thing the country needs in a globalising and technologically advancing international business environment is a poorly educated workforce.
He said that during the interaction, he has seen that secretaries have vision, commitment and energy to take the country forward.
Russia's special presidential representative for international cultural cooperation Mikhail Shvydkoy said Prigozhin wanted to become Russian president but it was a "mistake".
Sources said while the Janata Dal-Secular will have nine new ministers, the Congress will have nearly 12 of its legislators inducted into the cabinet. Lone Bahujan Samaj Party MLA N Mahesh will also be a part of the cabinet expansion and will be given a key portfolio.
India and Saudi Arabia on Monday decided to expedite implementation of the $50 billion West Coast refinery project, and identified energy, defence, semiconductor and space as areas for intensified cooperation during talks between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud.
'India's edtech and start-up story will be in danger.'
Major portfolios like home, finance and education were on Tuesday allocated to People's Democratic Party ministers by Jammu and Kashmir Chief Minister Mufti Mohammed Sayeed who will himself hold the charge of home ministry.
US President Joe Biden and First Lady Dr Jill Biden on Wednesday received Prime Minister Narendra Modi at the White House.
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
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