INS Karanj is the third Kalavari-class submarine to be commissioned into the Navy. The diesel-electric submarines based on the Scorpene design are also referred as Scorpene class submarines.
India's first indigenous aircraft carrier will be commissioned next year and its combat capability, reach and versatility will add formidable capabilities in the country's defence, Defence Minister Rajnath Singh said in Kochi on Friday.
Rahul Bajaj was transparent, outspoken, and not ready to bend the rules, says R C Bhargava.
The Indian Navy has given assurances to the government that it will become 'Atmanirbhar' (self-reliant) by 2047, Chief of Naval Staff Admiral R Hari Kumar said on Saturday.
India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
Sitharaman said the government wants to sell stake in public sector companies at a time when it fetches the right price.
Finance Minister Nirmala Sitharaman had in May announced that there will be a maximum of four public sector companies in strategic sectors, and state-owned firms in other segments will eventually be privatised.
Niti Aayog CEO Amitabh Kant on Tuesday said it is difficult to carry out tough reforms in India and emphasised that more reforms are needed to make the country competitive in the global environment. Addressing a virtual event organised by Swarajya magazine, Kant said for the first time, the Centre has carried out hard reforms across sectors, including mining, coal, labour, agriculture, and the next wave of reforms must be pushed by the states.
President Droupadi Murmu will lead the nation in celebrating the Republic Day, and Egypt's President Abdel Fattah al-Sisi will be the chief guest at the ceremonial event.
Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed was slowly putting brakes on its quantitative easing (QE) program.
'They have brought out a provision whereby the medium of education in the Hindi speaking states will be Hindi even in higher education institutions like IIT, IIM, etc.' 'Think about the students from the south who get admission in the IITs in Kanpur or Delhi or the IIMs in various places.'
Modi said his government has taken 'historic' decisions and the nation progressed rapidly in the last one year, even as he acknowledged that there is a lot that needs to be done and many challenges and problems face the country.
The gallery has come up in a British-era bunker, discovered in the Raj Bhavan campus in south Mumbai in August 2016 during the tenure of the then-Governor C Vidyasagar Rao.
Russia made the commitment during the meeting between defence minister Rajnath Singh and his Russian counterpart Gen Sergey Shoigu in Moscow, sources said.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
Prime Minister Narendra Modi's call to make this decade a "techade" for India and the push for 5G, semiconductors and transformation through digital services is going to boost the technology sector in the country, industry players said on Monday. Modi, in his speech on the 76th Independence Day, touched upon all-round development of technology in the country, from 5G to push for electronic chips, laying of optical fibre cable (OFC) network across villages and enablement of digital entrepreneurship in villages through Common Services Centres, making the present decade as "techade" for India. Homegrown mobile devices maker Lava International's Chairman and Managing Director Hari Om Rai said electronics and technology sectors create about $4 trillion of revenue.
Modi will also perform the ground-breaking ceremony for the building, which is expected to be completed by 2022 at an estimated cost of Rs 971 crore.
Indicators show green shoots in the economy with electricity and fuel consumption, inter and intra-state movement of goods, PMI data and retail financial transactions witnessing a pick-up, she said.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
Modi noted that Brazil too has a population comparable to Uttar Pradesh but it witnessed thousands of deaths due to the virus. In Uttar Pradesh, the deaths due to COVID-19 are reported to be nearly 800, he pointed out.
Finance Minister Nirmala Sitharaman will present the much-awaited 2022-23 Union Budget on February 1. While there has been strong recovery in some sectors, touch services like hospitality, tourism and leisure continue to suffer after two Covid-19 waves. Household savings have been hit due to increased spending on health care. Consumption has still not reached pre-pandemic levels.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
The government will press ahead with the sale of public sector companies that have been approved by the Cabinet, Finance Minister Nirmala Sitharaman said on Thursday. Highlighting that FDI flow into India is much higher compared to other emerging economies, she said India's strong macroeconomic fundamentals, ability to do reforms and a stable government help attract long-term foreign funds into Indian businesses.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
The prime minister also said the government has offered to discuss clause by clause of the three farm laws and if there are any shortcomings it was ready to make changes.
'It leads to more investment, more money put in R&D, expansion and modernisation.'
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
E-commerce giant Amazon on Thursday announced a $250 million (about Rs 1,873 crore) fund that will focus on digitising small and medium businesses, and driving innovation in the areas of agri-tech and health-tech in India. "Small and medium sized businesses are often the engine and the lifeblood of economies and I think it's true in India as well. "And we are very passionate about trying to enable acceleration of SMBs in fuelling innovation and the economy in India," Amazon Web Services CEO Andrew Jassy said.
'The ban on Chinese imports is a suicidal step.' 'This will result not only in economic depression, but in a chaotic situation.'
20 defence ministry reforms 'is a reflection of the resolve of the government to make the defence sector stronger and more efficient.'
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
Lauding the farm sector for demonstrating resilience during the pandemic, the Economic Survey on Friday suggested the government to see farm sector as a "modern business enterprise" for which "urgent reforms" are required to enable sustainable and consistent growth. India's agricultural sector has shown its resilience amid the adversities of COVID-19 induced lockdowns, the Survey noted. The agriculture and allied activities were the sole bright spot amid the slide in GDP performance of other sectors, clocking a growth rate of 3.4 per cent at constant prices during 2020-21, it added. According to the Survey, the farm sector has got "renewed thrust" due to various measures on credit, market reforms and food processing under the Aatmanirbhar Bharat announcements.
The Indian Army will showcase the main battle tank T-90 Bhishma, infantry combat vehicle BMP-II-Sarath, mobile autonomous launcher of the Brahmos missile system, multi-launcher rocket system Pinaka, electronic warfare system Samvijay among others during the parade on Tuesday, the Defence ministry noted.
The Eknath Shinde-led Maharashtra government has come under fire following the Centre's announcement that Tata-Airbus C-295 transport aircraft project would be set up in Gujarat, with the opposition seeking to know why the project that was supposed to come up in Maharashtra went to the neighbouring state.
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