FM is planning on pre-budget cosultations with representatives of various sectors from Jan 7.
Traders say prices will remain elevated due to increased demand, lower availability
Change will have to begin with Mr Modi, who by all accounts has shown little active interest in macro-economic issues, preferring instead to focus on the effective implementation of projects and programmes, points out T N Ninan.
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
However, the details will be worked out after the Fitment committee submits its report to the government. It also seeks to continue the thrust of the original budget for the development of agriculture, education, infrastructure in the state. The first supplementary presented by the Orissa finance minister, Prafulla Chandra Ghadai in the state Assembly amid slogan shouting by the BJP members, proposes an outlay of Rs 7587.69 crore (Rs 75.87 billion) for 2008-09.
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
One consequence of this shift will be that other sectors will see a reduction in the amount of resources allocated over the 11th Plan period. On the whole, the non-priority sectors, which accounted for 44.8 per cent of the total allocation during the 10th Plan period (2002-07), will now only get 25.3 per cent.
The meeting is likely to focus on removing impediments which are hampering implementation of the announced projects and policies which have been on the drawing board for long, official sources said. The social sector agenda of the prime minister includes pushing the Aam Admi Bima Yojana and Old Age Pension for the labour class, besides revamping Integrated Child Development Scheme and strengthening the public distribution system.
World Bank economists have urged the Indian government to cut unproductive farm subsidies and utilize agriculture spending the most productive manner.
The buoyancy in exports, which are expected to grow 23 per cent to around $155 billion in 2007-08, does not convey the real picture.Commerce ministry data show that the sectors with higher import content like petroleum products, gems and jewellery, engineering goods, pharmaceuticals, chemicals, and agriculture have provided the momentum for growth in exports, which have been hit by the appreciation of the rupee and infrastructure bottlenecks.
A three-member crew will be sent to space for at least seven days.
Government proposes to introduce Priority Sector Lending Certificates (PSLCs) to banks.
Modi's government plans to support domestic demand
'Culture is our asset. Culture is our identity.' 'Wherever you go in India, every millimetre can be measured with culture.' 'There is so much to see that even one life is not enough.'
West Bengal Chief Minister Mamata Banerjee said on Thursday that at least 72 people have died due to Cyclone Amphan and urged Prime Minister Narendra Modi to visit the affected districts and provide help to 'rebuild those areas from scratch'
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
'The real estate sector has been badly bruised because it has become too reliant on funding from NBFCs, including housing finance companies. 'When the NBFC industry was rocked late last year by a large default, the real estate sector was hit hard. 'An intricate web of links between rural incomes, construction activity and shadow banks are fuelling the economic slowdown', says Pranjul Bhandari.
'Poor home work, and a subsequent loss of nerve.' 'This sums up the Modi government's current travails, the stall in key sectors, fading momentum, irritability,' points out Shekhar Gupta.
The meeting with Xi is being held amid the ongoing trade war between the United States and China.
Shringla began his two-day official visit to Nepal on Thursday. He was accorded a warm welcome on his maiden visit to Nepal which is happening at the invitation of Nepal Foreign Secretary Paudyal, amid a strain in bilateral ties following a bitter border row between the two countries.
Subsequently, Nivar weakened into a cyclonic storm and further into a deep depression, centered about 50 km west-southwest of Tirupati at 1430 hrs, the India Meteorological Department (IMD) officials said. According to IMD, it is to weaken into a depression during the next six hours.
The Rs 1,989 crore statue being built to honour Sardar Vallabhai Patel has taken 3,000 labourers nearly 5 years to complete.
The review stresses on creating conditions for growth that is employment-friendly.
Sibal said the BJP always tries to gain a foothold in states where its presence is limited and afterwards "dumps" its allies.
Going by the current pace, IT firms are likely to exceed the manufacturing sector in salary payouts over the next five years.
Canada has offered its partnership in areas like agriculture, mining, life sciences, ICT, financial services and infrastructure. Canada's aim in India was to create new Canadian connections in sectors like agriculture, mining, life sciences, information and communication technology (ICT), financial services and infrastructure, areas where that country's firms have proven expertise. Canadian rep hoped to see Canadian companies becoming active in the Indian market & vice versa.
President A P J Abdul Kalam underscored the need to attain self-reliance in the infrastructural software sector with knowledge products, where the domain applications can be developed and deployed for services sector.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
It is a Budget with a strong emphasis on agriculture, education, healthcare and infrastructure.
To justify that farmers must burn if they are not paid cash incentive is doing injustice to them and to the lungs of the children of the country, notes Sunita Narain.
Additional infrastructure for dining rooms in each of the school has been recommended.
The country must get its act on global alliances right in order to feed its fuel-hungry economy, points out Subhomoy Bhattacharjee.
India is capable of achieving and sustaining double-digit growth in the coming years if labour reforms are carried out to shift workforce from agriculture to the industry, eminent economist Arvind Panagariya said on Friday.
Panagariya has advocated a more liberalised spending, arguing that greater capital expenditure could relax some of the infrastructure bottlenecks facing the country.
Uttarakhand was a tragedy that none of us will forget. As experts analysed the tragedy, it became clear that the disaster was more man made. The intergovernmental panel on climate change in its Assessment Report 5 states that human influence on the climate system is clear and this is evident from the increasing greenhouse gas concentrations in the atmosphere, positive radiative forcing, observed warming, and understanding of the climate system.
Private lenders have also been expanding their branch and automate teller machine networks aggressively.
At the first meeting of Governing Council of NITI Aayog on Sunday, Prime Minister Narendra Modi will seek views of Chief Ministers.
Prime Minister Manmohan Singh on Wednesday said the Centre would assist Kerala in its plans for developing airport connectivity and improving the agriculture and plantation economy of the state.
