The state-run gas transmission firm Gail (India) Ltd plans to prepay an expensive Rs 500 crore (Rs 5 billion) Asian Development Bank loan by raising debt from domestic market through a bonds issue in January.
Painting a rosy picture, the Asian Development Bank on Tuesday forecast that the Indian economy would grow by 6 % in 2003 and 6.3% in 2004, and said fiscal deficit of the Centre and states would start falling after the elections next year.
Asian Development Bank and ExxonMobil-promoted RasGas of Qatar have taken 10 per cent equity each in Petronet LNG Ltd, the public sector joint venture firm which will begin importing liquefied natural gas from January next year.
With a total assistance of $122.21 million, India stood second to China in cornering loans from Asian Development Bank in the first quarter of this calendar year.
The Asian Development Bank said on Friday that India, Pakistan and China had borrowed the lion's share of the $5.68 billion it lent to 21 nations last year.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
These clauses deal with penalties, licences, registration and National Transport Policy, among others.
IndusInd Bank was the top loser in the Sensex pack, plummeting over 23 per cent. PowerGrid, Kotak Bank, Bajaj Finance, HDFC Bank and NTPC also finished significantly lower. ONGC and ITC were the only stocks in the index that ended with gains. US President Donald Trump has proposed an economic package which could approach $1 trillion, a rescue initiative not seen since the great recession of 2008.
The project is the largest investment undertaken by any private sector entity in CSP in India.
Finance Commission has got new team who are committed to growth initiatives.
The NDB will have an initial authorised capital of $100 billion.
The International Monetary Fund (IMF) on Tuesday cut its economic growth forecast for India to 9.5 per cent for the fiscal year to March 31, 2022 as the onset of a severe second COVID-19 wave cut into recovery momentum. This forecast for 2021-22 is lower than the 12.5 per cent growth in GDP that IMF had projected in April before the second wave took a grip. For 2022-23, IMF expects economic growth of 8.5 per cent, larger than the 6.9 per cent it had projected in April.
Severe heatwaves, responsible for thousands of deaths across India over the last few decades, are increasing with alarming frequency and soon the country could become one of the first places in the world to experience heatwaves that break the human survivability limit, according to a new report.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
A myth was nurtured for nearly three decades that any chief minister of Uttar Pradesh who visited Noida in Gautam Buddh Nagar district was doomed to go out of power.
Moody's Investors Service on Thursday said India is likely continue to face challenges in raising longer-term growth potential and creating enough jobs for its young population in the absence of higher trade openness. In its report on South Asia sovereigns, Moody's said compared with other South Asian economies, India appears to be in a better position to deepen its integration in global value chains, attract FDI and increase exports. The country has better macroeconomic fundamentals, more stable politics and a more developed export sector.
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
'...the President is pleased to accept the resignation tendered by Shri Ashok Lavasa, Election Commissioner with effect from the 31st August, 2020,' the notification said.
ADB has often expressed its interest in promoting sub-regional integration in South Asia and perhaps could be involved as a facilitator.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
Imposing a blanket ban on construction of houses and commercial establishments along the banks of rivers, Uttarakhand Chief Minister Vijay Bahuguna on Monday announced setting up of a statutory body to look into planning and development of the flood-hit areas of the state.
From the Sensex pack, NTPC jumped nearly 4 per cent after the company posted over 23 per cent rise in consolidated net profit in the April-June quarter of 2023-24. Power Grid, Tech Mahindra, Tata Steel, Tata Consultancy Services, Wipro, Maruti and JSW Steel were among the other major gainers.
ADB, however, has cut its growth forecast for developing Asia to 6.1 per cent from the earlier 6.3 per cent in view of subdued economic activity in the US and China.
Lou also spoke about China's tensions with neighbouring countries without directly mentioning the eastern Ladakh border standoff with India since May 2020 which resulted in the Galwan Valley clash in June of that year.
Prime Minister Narendra Modi on Sunday made a fresh push for reforms in global institutions, including the United Nations, asserting that the world's 'new realities' should be reflected in 'new global structure' as it is nature's law that those who don't change with times lose their relevance.
Brokers said investor sentiment turned choppy on selling by foreign institutional investors ahead of the September month derivatives expiry on Thursday.
India is keen on the issue of equal share holding since it doesn't want a repeat of the distortions that have crept into Bretton Woods institutions like International Monetary Fund, World Bank and the Asian Development Bank in which rich countries like the US and Japan have a strangle hold.
Asian Development Bank on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. Growth in FY2020 is likely to recover thanks to this support, low oil prices, and a weakening rupee, but risks to the projections remain tilted to the downside, it said on India.
Cash-strapped Pakistan on Tuesday moved closer to securing a massive $11 billion economic bailout package from international donor agencies including the IMF, to revive the ailing national economy.
Moody's Investors Service on Thursday slashed India's economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation. In its update to Global Macro Outlook 2022-23, Moody's said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year. However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead.
The board meeting is likely to take place later in Shanghai.
Saeed-led JuD is the front organisation for the Lashkar-e-Tayiba which is responsible for carrying out the 2008 Mumbai attack that killed 166 people, including six Americans.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
ADB too had projected Indian's economic growth for current fiscal at 7.6 per cent
The recent rupee depreciation and capital outflows could adversely impact the country's economy.
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
The NCRTC, which is executing the country's first RRTS, said the contract was awarded following the set procedure and guidelines.
It's a historical tie, we will benefit from India team's visit: Pakistan tennis fraternity
'For the common man, the economic conditions are not going to get better.'
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