Citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 per cent from 8.9 per cent in September. The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 per cent in FY24, as it expects the benefit of the low-interest rate regime to end by the end of FY23, and it sees the central bank hiking policy rates by 50 bps in the second half of the next fiscal. The Reserve Bank also forecasts 9.5 per cent GDP growth this fiscal while the average projection ranges from 8.5 to 10 per cent.
Women and members from the queer and transgender communities took out a protest march from Mandi House to Jantar Mantar here against the Citizenship (Amendment) Act on Friday. Cries of 'Halla Bol' and 'Azaadi' rent the air as they voiced their dissent against the law.
This is the highest number of cases since December 13 when 1,984 people tested positive for the virus, according to official data.
Chief Economic Advisor (CEA) K V Subramanian will be leaving the finance ministry and returning to academia on completion of his three-year term. The government had appointed Subramanian, an ISB Hyderabad professor, as the CEA in December 2018. He had succeeded Arvind Subramanian, who quit the position close to a year ahead of his extended tenure. Subramanian's three-year term would have come up for renewal in December but he decided to return to academia.
Ahead of her arrival, Delhi Chief Minister Arvind Kejriwal had tweeted to welcome her. "@FLOTUS will attend happiness class in our school today. Great day for our teachers, students and Delhiites. For centuries, India has taught spirituality to the world. Am happy that she will take back the msg of happiness from our school," Kejriwal said.
Eighteen months after the economy was battered by the Covid-induced lockdown, employment has not recovered to its pre-pandemic levels, points out Mahesh Vyas.
'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
United States polls, coronavirus lockdowns and protests... Here's a look at the best images from October.
Clean toilets, colour-coded dustbins, comfortable beds, oxygen cylinders and all amenities one can expect in a top class hospital -- the first inmates of the train coaches converted into isolation wards have come away praising Indian Railways for providing a unique solution to care for suspected COVID-19 patients.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
Roads are becoming smarter even if the people driving on it are not. A set of smart technologies is making construction, maintenance, and traffic management much more efficient.
On the 20th anniversary of the first flight of the Tejas, we must congratulate the entire team who made sure that the LCA flew and returned safely on January 4, 2001, sowing the seed for development of a state-of-the-art fighter airplane that our country so badly needed, says IAF veteran Air Commodore Nitin Sathe.
Food delivery platform Zomato's initial public offering was oversubscribed on the opening day on Wednesday with retail investors bidding for 2.7 times the number of shares reserved for them. The offer received bids for 75.60 crore equity shares against an IPO size of 71.92 crore, stock exchange data showed. Retail investors sought 2.69 times the portion reserved for them. Against 12.95 crore shares reserved for retail individual investors, 34.88 crore shares were bid by 1700 hours.
On a continuous upward trajectory, India's recovery rate has touched 78 per cent.
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Zostel could get upwards of $600 million if arbitration goes through.
Finance Minister Nirmala Sitharaman on Tuesday said the upcoming Budget for 2021-22 will sustain the momentum of public spending on infrastructure and have a "vibrancy" to ensure the economic revival continues. She also said the pace of divestment, which has been hit by the COVID-19 pandemic, will pick up in the coming months. "We shall definitely sustain the momentum of public spending in infrastructure. Because that is the one way we assure that the multipliers will work and the economy's revival will be sustainable.... "I am conscious that the forthcoming Budget will have a vibrancy that is so required for the economy's revival, sustainable revival," she said at the Assocham Foundation Week. The Budget for the 2021-22 fiscal is expected to be tabled in Parliament on February 1.
India has the lowest labour force participation rate in South Asia and one of the lowest in the world, points out Aakar Patel.
The COVID-19 case fatality rate stood at 1.44 per cent.
'Only then will we withdraw the agitation.'
What some of us think are strong, bold and firm decisions are cruel, harsh and unwanted for others. This is what we need to consider when we look at what has happened with the farm laws, asserts Aakar Patel.
At 9 am on Tuesday, the overall AQI of Delhi docked at 381, which falls in the 'very poor' category.
In a business friendly move, the Reserve Bank of India on Friday said that Real Time Gross Settlement System (RTGS), used for large value transactions, will be made available round-the-clock from December. In December 2019, the National Electronic Funds Transfer (NEFT) system was made available on a 24x7x365 basis. Currently, RTGS is available for customers from 7.00 am to 6.00 pm on all working days of a week, except second and fourth Saturdays of every month.
These states and UTs are Maharashtra (seven districts/municipalities), Telangana (four), Tamil Nadu (seven), Rajasthan (five), Assam (six), Haryana (four), Gujarat (three), Karnataka (four), Uttarakhand (three), Madhya Pradesh (five), West Bengal (three), Delhi (three), Bihar (four), Uttar Pradesh (four), and Odisha (five).
With the results pouring in for the five states, celebrations and distribution of sweets have also begun. The Congress wasted no time to start bursting firecrackers after early trends showed that the party was surging ahead in Rajasthan and Chhattisgarh. Take a look at the festivities.
'The immune protection may well wane somewhat, and that's what we have to monitor.' 'Should it wane to the point where vaccinated individuals are getting severe disease, then we really will need to give them booster shots and that'll apply regardless of what vaccine they've got the first time.'
IT major Wipro's Azim Premji donated Rs 22 crore a day or Rs 7,904 crore in a year to emerge as the most generous Indian in FY20 and top a list of philanthropy. Premji pipped HCL Technologies' Shiv Nadar, who had earlier topped the list collated by Hurun Report India and Edelgive Foundation, by a wide margin.
Analysts at Barclays pitched for a 0.25 per cent cut to generate demand advising the central bank to throw caution to the wind.
The actor wore a washed out look as a showstopper for Anushree Reddy at LFW.
India's COVID-19 tally had crossed the 20-lakh mark on August 7, 30 lakh on August 23 and 40 lakh on September 5. It went past 50 lakh on September 16, 60 lakh on September 28 and crossed 70 lakh on October 11.
Here are the top 10 images from the big news that shook the world in the previous week.
Indian shooters failed to make the final of the men's 10m air rifle event of the ISSF World Cup, in New Delhi, on Monday.
Farmer leader Kulwant Singh Sandhu had said that 32 farmer unions from Punjab held a meeting on Tuesday and discussed the next course of action.
Last year, Sitharaman had ditched the long-standing tradition of carrying budget documents in a leather briefcase and went swadeshi with a 'bahi-khata'.
Wipro chief executive Abidali Z Neemuchwala saw his pay package grow 41 per cent to $ 3.9 million during 2018-19.
The coronavirus caseload surged to 56,46,010, while the death toll climbed to 90,020 with 1,085 people succumbing to the disease in a span of 24 hours, the data updated at 8 am showed.
Critics who cannot stop gloating, pronouncing Modi to be a lame-duck prime minister, may be making a huge mistake, predicts Virendra Kapoor.
The bench expressed displeasure over the trend of filing of sedition cases just after senior advocate F S Nariman made opening submissions on behalf of Singh, saying 'the gentleman has served as the Additional Director General of Police (ADGP) and was acting as the Director of the Police Academy and now the proceedings under section 124A (sedition) of the IPC have been initiated against him'.
The COVID-19 case fatality rate has reduced from around 3.33 per cent in mid-June to 2.25 per cent.
The parties also said that the decision has come in late and had the Modi government shed its 'arrogance earlier' and repealed the laws opposed by farmers, a number of precious lives lost during the nearly year-long agitation could have been saved.
