Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
'The economy may not improve unless you admit there are some problems.'
Savitri and Narayanan Sitharaman arrived in a separate car in Parliament.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
People must also avoid mass gatherings, and new year celebrations need to be at low intensity, the government said.
'He is a busy man these days, still, he makes it a point to call me at least once a month.'
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Stating that the fight against COVID-19 is at the final stage, Union Health Minister Mansukh Mandaviya on Thursday cautioned against letting the guard down before it is completely over and requested states to enhance the vaccination coverage and motivate the over 12 crore beneficiaries who are due for their second dose to take it.
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'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
The Bombay high court on Wednesday stayed the demolition process initiated by the BMC for illegal construction at Ranaut's bungalow and sought to know why did the city civic body enter the property when the owner was not present.
Chief Economic Advisor Arvind Subramanian said the government has "enough ammunition" to deal with volatility in the currency market.
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
Paralympic gold-winners Avani Lekhara, Sumit Antil, Pramod Bhagat, Krishna Nagar, Manish Narwal were also given the Khel Ratna at a dazzling awards ceremony on Saturday.
Following the killing of an SDPI state secretary late Saturday night, a BJP leader was hacked to death less than 12 hours later on Sunday morning and later, prohibitory order under Code of Criminal Procedure (CrPC) Section 144 was imposed in the entire Alappuzha district, additional police force was deployed there and senior officers camped there to monitor the law and order situation.
The Tamil Nadu assembly on Tuesday once again adopted the anti-NEET Bill, returned days ago to the government by Governor RN Ravi, with the ruling Dravida Munentra Kazhagam and principal opposition All India Anna DK reaffirming their opposition to the test.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
The shortcomings are too many to overlook, but November Story is definitely a one-time watch, says Prateek Sur.
Veteran doctor and educationist from Karnataka Belle Monappa Hegde and archaeology legend B B Lal were also given the Padma Vibhushan awards.
It is largely due to his vision and efforts that we have almost quadrupled our per capita milk availability in the last 40 years, points out Shailesh Dobhal.
Making clear India's stand, team manager Sunil Subramanian on Friday said the Wanderers wicket was prepared by South Africa and not by them so the hosts must be prepared to resume the game.
With this, the total strength of TCS's board has increased to 11.
Sources at Mumbai airport said seat occupancy has declined from around 70-72 per cent to 60-64 per cent in last three-four days as passengers are postponing or cancelling trips.
'When you plot the growth, -- 7.5 per cent for Q2, 0.4 per cent for Q3, 1.6 per cent for Q4 and 20.1 per cent for Q1 now -- all you see is a 'V'.' 'You don't see any other alphabet in the shape there.'
Chief Economic Adviser Arvind Subramanian on Thursday said upgrading of India's outlook to positive by Moody's validates the government's reform thrust.
Uttam Ghosh offers his take on Subramanian Swamy's controversial utterances.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
'If you are selling family silver, and if you are not getting the right value, then what is the point?'
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
A junior member of the Indian cricket team's support staff was accused of "inappropriate behaviour" by a female hotel employee in Antigua, an incident dismissed as a "case of mistaken identity" by the BCCI.
"The world is in general equilibrium. A small change in one parameter effects changes in all variables. So Krishna advised: Sukh Dukhe...," Subramanian Swamy tweeted.
People giving me unasked for advice of discipline and restraint don't realise that if I disregard discipline there would be a bloodbath.
Pahal looks to cut down diversion and eliminate duplicate.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Most of those who tested positive either recently arrived from African countries or were in contact with such people.
Holidayers, including those who would head overseas between April and June, are set to escape to the hills, beaches, and resorts in the country. This is to fend off the heat and beat the pandemic blues, indicates the initial bookings and online search trends.
The Chinese had enough foreign reserves.
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