The transformative improvement promised in Jammu-Kashmir remains largely a mirage, observes David Devadas on the second anniversary of the Constitutional changes in the former state.
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
The prime minister also stressed on the need to transform the landscape of Indian science, technology and innovation, as he assured that the government will ensure the 'Ease of doing Science' and effectively using information technology to reduce red tape.
Farmers have suffered a lot on account of natural calamities.
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
'India's economy faces further downside risks from sluggish private investment and rural demand weakened by slow wage growth.'
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Modi's critics will say that he has put up cement and steel structures, but weakened the institutions of governance whereas Nehru strengthened them, observes T N Ninan.
He was granted bail by a court in Ahmedabad.
Mastercard is keen on being known not as a payments player but a technology company.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Kerala floods take a toll on small businesses, NBFCs brace for losses
Syed Ahmad Shakeel and Shahid Yousuf, who are sons of Hizbul Mujahideen chief and one of the most wanted terrorists, Salahuddin, were also dismissed from service for allegedly being involved in terror funding, the officials said.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
Prime Minister Narendra Modi on Tuesday targeted Kerala's ruling Left Democratic Front over the gold smuggling scam, saying the Communist Party of India-Marxist-led government "betrayed" the people of the state just as Judas did to Lord Jesus for a few pieces of silver.
Such investments come with their own share of risks and buyers may need to hold on for at least 5 to 10 years.
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
A global failure to respond to climate changes could result in about 8.7 per cent economic loss in India's Gross Domestic Product (GDP) by 2100, Asian Development Bank said.
Nangiohbok Rymbai, a graduate in economics who works as a daily wage labourer in Shillong, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
Shaktikanta Das said in Washington, DC, that there was nothing sacrosanct about the 25 bps rate cut and that monetary policy could be well served by calibrating the size of the policy rate to the dynamics of the situation, and the size of the change itself could convey the stance of policy.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
The Union new and renewable energy ministry said Uttar Pradesh was progressing "very well" in off-grid solar energy space
Technology has and will continue to fundamentally reshape the world, says World Bank president Jim Kim.
Uttar Pradesh and Punjab have announced loan waivers for farmers, while Maharashtra has not despite Opposition pressure. Sanjeeb Mukherjee reports.
A day after the Central Statistical Organisation projecting a sluggish agricultural growth this fiscal, Finance Minister P Chidambaram said on Friday the government will take all steps to ensure a four per cent expansion in the farm sector for next 10-20 years. "First charge on our resources is for agriculture, so that it grows at 4 per cent or more for next 10-20 years" Chidambaram said at a National Bank for Agricultural and Rural Development function in New Delhi.
'In many parts of the country, the empty nest-and-empty-nest egg story is a painful boom-to-bust saga.' 'Among the old and young, it is hitting pockets hard, in a linked chain of debt-laden banks, corrupt politicians and builder mafias and disastrous government policies,' says Sunil Sethi.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
The Taliban have been known for using violence to force the people to accept their agenda and views, he added.
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
The goverment has found serious irregularities in the functioning of the National Bank for Agriculture and Rural Development (Nabard), Finance Minister Jaswant Singh said in the Rajya Sabha Tuesday.
A large number of rich farmers, who earn more than salaried employees in the cities, get away with paying no tax at all in view of the government's lack of will to consider an agricultural income tax
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
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