Goyal also said that current account deficit is likely to be 2.5 per cent of GDP this year.
Goyal wondered why an e-commerce market place model, where a firm provides an IT platform for buyers and sellers, was incurring such huge losses adding that it needs to be looked into.
South Africa might have faltered at the finishing line but their maiden final appearance in the T20 World Cup earned them accolades from local and expatriate fans
The interim finance minister said the Insolvency and Bankruptcy Code was helping in recovery of non-performing loans.
Having almost closed the last contours of the limited trade deal and with the announcement of a much larger trade deal in the offing, we have moved to a new level of engagement: Goyal.
The Railway Board has decided to wind up the ambitious Rs 5,000-crore One ICT plan and the transformation cell
Court order follows submission of govt lawyers that Serious Fraud Investigation Office was probing a case of misappropriation of fund by Jet Airways and Goyal.
It noted the prosecution's submissions about the need to take Kumar to Mumbai and other parts of the national capital to collect evidence, which was not possible without the accused's custody.
Goyal said India has been recognised as brightest spot in the world in last five years.
There is also speculation within the BJP that its national president J P Nadda, whose extended tenure will end by this month and who was among the leaders meeting Modi, may also be brought back in the government.
India and the US have signed an agreement to promote innovation through increasing cooperation among startups, address regulatory hurdles and share best practices on fundraising by entrepreneurs, an official statement said on Wednesday. The memorandum of understanding (MoU) on enhancing innovation ecosystems through an innovation handshake under the framework of India-US Commercial Dialogue was signed on November 14 in San Francisco. Commerce and Industry Minister Piyush Goyal is in San Francisco.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
The Bharatiya Janata Party suffered a setback in Lok Sabha polls in Maharashtra on Tuesday, with its tally dwindling by less than half compared to 2019, while the opposition Maha Vikas Aghadi of Congress, Shiv Sena-Uddhav Balasaheb Thackeray and the Nationalist Congress Party-Sharadchandra Pawar was on a roll, pocketing 30 of the 48 seats.
In the post on X, Mahajan said, "I will be indebted to the family-like people from Mumbai North Central who treated me not just as an MP but gave me affection like a daughter."
India's economic growth will be above 6 per cent in the current fiscal as the country has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Monday. Goyal further said that a global slowdown reducing India's export growth, geopolitics fueling oil and food prices, and erratic weather are some of the continuing risks that the country faces. "India has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
Among the new entrants to the Union cabinet, former Madhya Pradesh chief minister Shivraj Singh Chouhan has been given the agriculture and rural development portfolios, Bharatiya Janata Party president J P Nadda the health portfolio and former Haryana chief minister Manohar Lal Khattar the power portfolio.
Converting what was supposed to be an interim budget or a vote on account into an almost full-fledged budget announcement in the Lok Sabha, Finance Minister Piyush Goyal proposed an array of incentives for both middle-class and farmers, whose disenchantment was said to have cost the BJP dearly in recent assembly elections.
Shrirang Barne, an MP of Shiv Sena led by Eknath Shinde, on Monday expressed disappointment over the party not getting a cabinet berth in the newly-formed Narendra Modi-led government and alleged partiality.
Foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year, Commerce and Industry Minister Piyush Goyal said on Monday. He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22. "India has received the highest ever FDI inflow in 2020-21. "It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020," he said while addressing a meeting of different industry associations on promoting exports.
The Reserve Bank of India's (RBI's) job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price situation, according to RBI Governor Shaktikanta Das. RBI's rate setting panel, Monetary Policy Committee (MPC), had met for three days from February 6-8. The panel decided to leave the key policy rate unchanged at 6.5 per cent for the sixth time in row.
The move comes a day after an urgent meeting of lenders with Goyal and Etihad Airways chief executive officer Tony Douglas to resolve various issues between the two promoters as well as lenders and Etihad.
The Union ministers and farmer leaders had met earlier on February 8, 12 and 15 but the talks remained inconclusive.
Besides Defence Minister Singh (Lucknow), Minister of Women and Child Development Irani (Amethi), those in the fray are Minister of State for Housing and Urban Affairs Kaushal Kishor (Mohanlalganj) and Minister of State of Consumer Affairs Sadhvi Niranjan Jyoti (Fatehpur).
Etihad wants to control a domestic carrier that can give it access to over 45 cities in India from where it can bring traffic to its hub in Abu Dhabi and beyond.
National Democratic Alliance nominee Om Birla was elected as Lok Sabha speaker on Wednesday after a motion moved by Prime Minister Narendra Modi was adopted through voice vote, capping intense debate on the issue with the opposition in a rare move proposing its own candidate.
India's exports are showing signs of improvement as the contraction in outbound shipments in June so far has come down to about 10-12 per cent as compared with 60 per cent in April, Commerce and Industry Minister Piyush Goyal said on Monday. Declining for the third straight month, In "Currently we are about 10-12 per cent down in June. So in a sense, we have reached up to 88-90 per cent of the level of exports that we had in June 2019 in the current month in the first two weeks. I am awaiting the data for third week (of June)," Goyal said at a CII function.
The event that was inaugurated by five-time world champion Viswanathan Anand will have 11 rounds before the best player in the under-20 category can be determined in both sections.
Of the Rs 1.97 trillion that the government intends to spend on all 14 production-linked incentive (PLI) schemes, around Rs 41,000 crore remains unutilised as of now, according to a senior government official. This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years. The unutilised amount/savings result from undersubscription, lukewarm responses in the case of schemes such as textile, as well as a reduction in the allocation of schemes.
The Centre on Thursday hiked Dearness Allowance (DA) to 50 per cent of basic pay from the existing rate of 46 per cent effective from January 1 this year, benefitting over 1 crore employees and pensioners ahead of general elections. The Union Cabinet has approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners from January 1, 2024, representing an increase of 4 percentage points over the existing rate of 46 per cent of the basic pay/pension, to compensate against price rise, Union Minister Piyush Goyal said after the Cabinet meeting.
The constituency of Mumbai South, home to industrialists as well as high-ranking government officials, fared the worst with 47.7 percent voting.
When the Chair asked Chowdhury to raise a point of order, Goyal stood up and said that he would not allow the Congress leader to speak in protest against the disruption of the external affairs minister's statement earlier in the day on India's foreign engagements since the Budget session.
The Delhi Police in its remand paper submitted late Saturday evening seeking seven days custody of Delhi Chief Minister Arvind Kejriwal's aide Bibhav Kumar regarding the alleged assault on Aam Aadmi Party Rajya Sabha member Swati Maliwal said that it was a 'serious case' where the 'brutal assault' could have turned 'fatal'.
The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
'The people preferred Uddhav Thackeray and Sharad Pawar...'
The Centre is unlikely to offer new direct tax incentives for units operating in special economic zones (SEZs) and may instead allow the grandfathering of previous exemptions that such units were entitled to, according to proposed amendments to the SEZ Act, 2005, people aware of the matter said. The amendments, proposed by the commerce department, will soon be considered by the Cabinet for approval. This represents a departure from the department's earlier plan to introduce these changes through the Development Enterprises and Services Hubs (DESH) Bill, 2023, which faced strong criticism from the ministry of finance.
It is possible to be blind to this and pretend to carry on as if nothing has happened but that will not change the reality, asserts Aakar Patel.
'Indian Railways will run 200 non-AC trains daily as per the time table from June 1 for which online booking will start soon,' Goyal said in a tweet. He also said that within the next two days Indian Railways will double the number of Shramik Special Trains to 400 per day.
Lyricist Javed Akhtar said that Hindus have always been tolerant, adding that democracy in India existed because of Hindus at an event in Mumbai on Friday.
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
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