The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year. The growth rate of 5.9 per cent in the 2023-24 fiscal compares to an estimated 6.8 per cent in the previous year.
In shooting, India have added Manisha Keer, Preeti Rajak and Angad Vir Singh Bajwa, while in athletics, Amlan Borgohain, Preeti and Prachi have been added to the squad.
"India and China are in communication and negotiations on lowering the temperatures through military and diplomatic channels. No party should engage in any action that may escalate the situation at this point," Chinese Foreign Ministry spokesperson Zhao Lijian said during a briefing when asked about the Prime Minister's visit.
In the midst of rising global concern over China's military expansionism, India and three other member nations of the Quad on Thursday vowed to uphold a rules-based international order underpinned by respect for territorial integrity and sovereignty, freedom of navigation and peaceful resolution of disputes.
Other major laggards were IndusInd Bank, SBI, Bharti Airtel, ONGC, Tata Steel and Reliance Industries -- falling as much as 6.30 per cent.
Top other laggards in the Sensex pack included Tata Motors, Maruti, Axis Bank, Bharti Airtel, RIL, NTPC, Bajaj Auto, Asian Paints, ITC, Kotak Bank, Bajaj Finance and TCS, falling up to 5.10 per cent.
Top gainers in the Sensex pack included IndusInd Bank, Tata Steel, Vedanta, Tech Mahindra, ONGC, Axis Bank and ITC, rising up to 5.18 per cent.
From the Sensex pack, Infosys jumped the most by 3.67 per cent. Asian Paints, HCL Technologies, Reliance Industries, ICICI Bank, Wipro, NTPC, Tech Mahindra, Bajaj Finserv and Larsen & Toubro were among the other major gainers. State Bank of India, Bajaj Finance, Titan, Tata Steel, Tata Motors and UltraTech Cement were among the laggards.
The strengthening of the Mountain Strike Corps is part of the steps taken by the force to rebalance its focus more towards the Chinese border from the western front with Pakistan.
The data leak obtained by 'The Australian' newspaper has revealed how the alleged CPC members are employed with some of the world's biggest corporations in the areas of defence, banks and pharmaceutical giants manufacturing coronavirus vaccines.
It is learnt that the Indian delegation insisted on a time-bound implementation of the agreement finalised during the extensive talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi in Moscow on September 10 on the sidelines of a Shanghai Cooperation Organisation(SCO) meet.
The two sides have also agreed for a joint mechanism to verify the progress in the disengagement process through delegation meetings as well as using unmanned aerial vehicles.
In the Sensex pack, Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank and HDFC were the major laggards. On the other hand, Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel and Sun Pharma were among the gainers.
The defence minister made the remarks after performing 'Shastra Puja' -- the customary worship of weapons -- at the Sukna-based headquarters of the Indian Army's 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra.
'Society tends to get uncomfortable when a girl takes the initiative. But who cares? I proposed to him,' says Shivalika V Patel.
'India is an equity market with a breadth and depth of companies to invest in.'
External Affairs Minister S Jaishankar said on Friday that India and China are going through a 'particularly bad patch' in their ties because Beijing has taken a set of actions in violation of agreements for which it still doesn't have a 'credible explanation' and it is for the Chinese leadership to answer where they want to take the bilateral relationship.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
Domestic investors were also concerned about possible stagflation in India due to low growth and high inflation in wake of recently released government data. IndusInd Bank was the top loser in the Sensex pack, dropping 5.44 per cent. Infosys, SBI, PowerGrid, Tech Mahindra, Bharti Airtel and HDFC Bank too fell up to 1.21 per cent.
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
Instead of "the dragon and the elephant compete with each other", "the dragon and the elephant dance together, Chinese Foreign Minister Wang Yi said.
The Army said it was also highlighted that completion of disengagement in other areas would pave the way for the two sides to consider de-escalation of forces and ensure full restoration of peace and tranquillity and enable progress in bilateral relations.
India's number one tennis player Sumit Nagal is left with less than Rs one lakh in his bank account and a morose feeling of not leading a good life.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
IndusInd Bank, Infosys, Maruti, Vedanta, Hero MotoCorp, Tata Motors, ONGC and RIL too fell up to 4.96 per cent.
'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.
India and Chinese troops on Saturday exchanged sweets and greetings at 10 border posts along the Line of Actual Control (LAC) including in eastern Ladakh to mark the New Year, officials said.
Benchmark indices Sensex and Nifty closed down by half a per cent on Friday following losses in IT and banking shares amid overall weak global market trends. The BSE Sensex declined 316.94 points or 0.52 per cent to settle at 61,002.57. During the day, it fell 508.84 points or 0.82 per cent to 60,810.67.
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The Indian side is expected to seek disengagement as soon as possible in the remaining friction points besides pressing for resolution of issues in Depsang Bulge and Demchok.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
From the Sensex pack, Tata Steel declined 3.45 per cent, followed by Tata Motors which fell by 3.19 per cent. Bajaj Finserv, NTPC, JSW Steel, State Bank of India, Larsen & Toubro and Bharti Airtel were among the other major laggards. Nestle, Asian Paints, Hindustan Unilever and Tech Mahindra were the gainers.
A day after the nearly 12-and-half-hour talks, the two sides, in a joint statement on Monday, reaffirmed that the resolution of the pending issues would help in the restoration of peace and tranquility along the Line of Actual Control (LAC) in the region and enable progress in bilateral relations.
The stand by China spelt out by its foreign ministry insisting that it takes the 1959 line on perception of the LAC amid a nearly five-month-long border standoff in eastern Ladakh triggered a strong reaction from India.
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
The last round of Corps Commander-level talks had taken place on October 12 but there was no breakthrough on the disengagement of troops from the friction points.
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