For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
A total of 16 secretaries have been appointed to various central government departments.
India's current account deficit, which is the excess of foreign exchange outflows over inflows, touched a historic high of 4.8 per cent of GDP in 2012-13, mainly due to rising imports of gold and petroleum products.
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
Some experts had said the Budget did not have much in terms of big ideas.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
'This reluctance to respond forcefully to Chinese PLA provocations and outright aggression has as much to do with Prime Minister Modi personally, as with the institutional mindset of the MEA or even the Indian Army.' 'They are scarred by the 1962 War and are still cowed by China.'
The local currency opened higher at 61.20 a dollar from the previous close of 61.30 at the Interbank Foreign Exchange Market.
China has been an aggressor against India along the Himalayan border, a top American diplomat nominated by President Joe Biden as his next envoy to Beijing has told lawmakers, stating that the US must hold the Chinese government accountable for failing to play by the rules.
Snooping is one of the oldest peccadilloes of man, observes Ambassador M K Bhadrakumar.
The economic growth fell to a decade low of 5 per cent in 2012-13 fiscal.
The government said that the massive amount of political donations were earlier made in cash by individuals or corporates using 'illicit means of funding'.
Rajan said investments should return after initial investor worries over Brexit.
Two Indian women figure among scores of foreign nationals with Swiss bank accounts, whose names have been made public by Switzerland in its official gazette for being probed in their respective countries.
Unless Dr Urjit Patel starts clearing the balance sheets of banks, the investment cycle will not start. Unless the clog in the drain is cleared, further lending cannot happen. If further lending doesn't happen, the investment cycle also will not happen, writes M R Venkatesh.
While the government had in June approved a new formula for pricing of all domestically produced natural gas, the Cabinet yesterday allowed the same principles to also be applied to Reliance Industries' currently producing fields in KG-D6 block subject to certain conditions.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
The government would also take steps to promote exports and restrict non-essential imports, said Jaitley
Foreign Secretary Harsh Vardhan Shringla terms India's relationship with China as "complex".
India has been probing hundreds of black money cases.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
Talking about dealing with the border issue faced by India, Jaishankar, without naming any country or going into details, said, "You know again we did what we had to do. There was a very active debate which still continues to this day. It is natural for people to offer advice, often on matters which they may not have particular knowledge of, that are a human trait. But again if there was what came through it was that we were resolute, we were strong about protecting our interests."
Private lenders were among the top losers along with RIL.
A two-year extension at the helm of the RBI still looks a real possibility
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
The five-nation grouping BRICS on Tuesday resolved to combat terrorism in all its forms and manifestations, including the cross-border movement of terrorists, and vowed to step up joint efforts in building support for an India-backed global framework to effectively deal with the menace.
Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
They expressed concern on taxation issues, the high fiscal and current account deficits, and sought removal of capital gains tax.
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
The United States on Friday expressed concern over India's crackdown on Ford Foundation and Greenpeace, and said it is seeking "clarification" on the action.
National Security Advisor Ajit Doval on Thursday called for seamless coordination among various agencies involved in protecting India's maritime interests in the face of emerging security challenges and increasing rivalries and competitions in the Indian Ocean.
The Finance Ministry on Monday sought to assure the investors that the country's fundamentals are "very strong" even as the rupee slipped to below 63 to a US dollar and the BSE Sensex plunged by over 426 points on global cues, following currency crisis in Argentina.
India' can't succeed unless it is made easier for people to do business.
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