A government official said out that with hardly any economic activity, an immediate duty hike will not be productive and could be announced once the lockdown eases and demand revives.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in July.
Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
Moni Chadha was with Lal Bahadur Shastri in Tashkent. He counters colourful conspiracy theories with sobering facts.
With pricing power of producers unlikely to strengthen and commodities ex-crude oil likely to remain sluggish in the immediate term, the core-WPI inflation may remain sub-zero in the rest of this calendar year.
'I've done commentary only once and that was post IPL when I had two months break. I've realised that I enjoy it. But it's not something that I'm in any way pursuing for the next three years in a serious manner.'
While the ratio determines the extent to which the government is able to finance its expenditure, it is also an indicator of tax compliance. Developed countries have a higher contribution of tax to their GDP.
With three play-offs spots already sealed by Delhi Capitals, Chennai Super Kings and Royals Challengers Bangalore, KKR consolidated their position for the fourth and final spot, finishing their league engagements with 14 points from 14 games and an impressive net run-rate of 0.587.
The 10 teams in the league will be bidding heavily for the Indian players in a list of 590 cricketer
In strong observations while hearing the plea, the high court cited the death of Princess Diana while trying to escape the media chase, and said there needs to be "some toning down" as people are "afraid of the fourth pillar of democracy" because of its powers.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
Almost all infrastructure ministries continued spending on capex throughout the lockdown, even as the Centre tried to maintain some semblance of economic normalcy.
Stylish left-hander Vijay Zol carried his stupendous form at the Under-19 level to first-class cricket, scoring a fluent century on debut, as the three-day encounter between India 'A' and New Zealand 'A' ended in a draw, in Visakhapatnam, on Friday.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
Instead of a rate hike, or even a pause, there could be a window for the RBI for an interest rate cut
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
From the many large communal riots across decades to the six-hour mass cull of Muslims in Nellie, 1983; Sikhs in Delhi and elsewhere, 1984; Kashmiri Pandits, 1990; selective massacres of Hindus in Punjab, 1983-93; and Gujarat, 2002, we have failed to bring perpetrators of our biggest tragedies to account, asserts Shekhar Gupta.
These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
The actor revealed her beauty secrets at the launch of her makeup line Kay by Katrina.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
The fiscal deficit rose primarily on the back of lower non-tax revenues, which came in at 60 per cent of full-year target, compared with 62.4 per cent for the same period last year.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Inflation in food articles, fuel and power contracted in July.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
Kolkata Knight Riders coach Brendon McCullum says it is also comforting to be at home as the world battles a pandemic, which has made isolation the new normal. He said the situation demands that everyone stays at home and maintains social distancing, the only way to curb the spread of the virus, which has caused thousands of deaths worldwide.
Here's a look at the guest arrivals.
'Sometimes we arrange a Zoom call just for him to say hello to the players, that's about it.' 'But otherwise, no, no direct talk, it's never happened, even in a normal year.' 'After the game, you win, you lose, SRK is there to encourage the team, give them hugs.'
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
C Vijayakumar, the reticent chief executive of HCL Technologies, India's third-largest IT services firm, was recently appointed managing director, succeeding the founder, Shiv Nadar. Back in October 2016, when CVK, as he is popularly called within and outside of HCL, was named CEO, it had been somewhat of a surprise - his elevation being the result of his predecessor, Anant Gupta, suddenly stepping down to "pursue personal interests". CVK, 53, has since taken the firm from under $7 billion to over $10 billion in revenue.
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
Ranji Trophy champions Mumbai decided against enforcing the follow-on after taking a huge lead of 297 runs over Rest of India on Day 3 of the five-day Irani Cup match at the Brabourne stadium, in Mumbai, on Tuesday.
Direct economic stimulus measures such as tax cuts for individuals and industry would have helped to prop up the Indian economy which was hit hard by the lockdowns across several states in India, say economists and corporate leaders. While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move the needle for the economy.
Madhya Pradesh were left to chase a mammoth 571-run target after Mumbai's Suryakumar Yadav and Aditya Tare scored centuries on Day 4 of the Ranji Trophy semi-final in Cuttack on
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.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Bengal wicketkeeper Wriddhiman Saha got a reprieve and then fought hard to help Bengal earn a point against favourites Mumbai despite seamer Abhishek Nayar's deadly spell in a Ranji Trophy Group A encounter at the Brabourne stadium in Mumbai on Tuesday.
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