The wait for India to become a $5-trillion economic powerhouse by 2024-25 (FY25) is going to take longer than what the finance ministry had originally intended, according to the International Monetary Fund (IMF). The vision will instead be achieved in 2028-29 (FY29), reveals the IMF data, illustrating a four-year delay. Chief Economic Advisor (CEA) V Anantha Nageswaran had in February said India would become a $5-trillion economy by 2025-26 or the following year, on the back of 8-9 per cent sustained growth rate in real gross domestic product (GDP). However, the IMF data conveys that the economy will be $4.92 trillion in FY28, clearly alluding to the fact that the target will be realised in FY29.
A head of its meeting, the Reserve Bank of India (RBI) can take some solace from the softening food commodity prices. However, the events surrounding the last few weeks show that the fall may not be uniform across all commodities, and cereals like wheat and rice could be the outliers. A Reuters report said that local wheat prices jumped to a record Rs 23,547 per tonne on Wednesday. That is a 12 per cent rise from the recent lows that followed the government's surprise ban on exports on May 14.
The 28-year-old, who received a lot of flak for not bowling during India's dismal T20 World Cup campaign, hasn't played red ball cricket since December 2018 and has often admitted that injuries have put a spanner on his prospects in the longest format of the game.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
Investors and companies should brace for higher commodity prices over the next few weeks in the backdrop of Russian troops attacking Ukraine on Thursday. Meanwhile, US President Joe Biden threatened new sanctions against Russia for an act of aggression against Ukraine. All this, analysts believe, can push prices of key commodities such as crude oil, ammonia, urea, potash, and phosphates higher.
'These accusations of my film being a copy only makes our chances at the Academy harder.'
The recent three-bank merger seems to be grossly negative for Vijaya Bank and Bank of Baroda in the short term, as the negative net worth of Dena Bank will have to be absorbed by the merged entity
Delhi done in by poor batting as Karnataka win by 4 wickets
The finisher's job is only gaining significance in the power-packed modern game
Former Indian women's cricket team coach Tushar Arothe on Wednesday claimed innocence a day after he was arrested and subsequently released on bail for allegedly betting on an IPL match.
Hardik Pandya garners praise as he guides GT to playoffs
Gujarat Chief Minister Narendra Modi said on Thursday that the national highway between Vadodara and Mumbai will be converted into a six-lane highway at a total cost of Rs 1,000 crore (Rs 10 billion).
India's exports are unlikely to get an immediate boost from a depreciating rupee, which touched an all-time low on Monday, driven by rising commodity prices. The rupee fell to 76.97 against the dollar earlier in the day, settling 1.05 per cent weaker than the previous close. Oil prices soared to their highest since 2008 on Monday at $139 per barrel, after the US and European allies explored a Russian oil import ban, while delays in the potential return of Iranian crude oil to global markets increased supply fears.
'The West Indies' pace battery was lethal.' 'Watching Gavaskar, Gaekwad, Amarnath and Vengsarkar play against those bowlers I learnt so much.' 'Everybody was getting hit.' 'Someone got hit on the fingers, someone on the chest, someone on the face, but they all showed guts.'
The 26-year-old Baroda cricketer had recently claimed that he would be fit for the second half of the New Zealand series but sources in the BCCI claim that it was the cricketer's individual assessment.
The IPL's most successful franchise will start training on Thursday, August 20, at the Reliance Stadium on the outskirts of Mumbai at Ghansoli.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
It is understood that Kuldeep, who had lost his mojo in the Kohli-Ravi Shastri era, has been called back as the current team management and selectors feel that he has the X-Factor to contribute to team's cause.
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. The previous high for retail inflation was 6.26 per cent in June 2021. The consumer price index (CPI) based retail inflation, which is taken into account by the Reserve Bank of India (RBI) while deciding its monetary policy, rose mainly because of costlier food items, as per the data released by the National Statistical Office (NSO).
Former India pacer Paras Mhambrey, one of the brains behind India's highly-successful India 'A' and Under-19 team programmes, has applied for the position of the senior squad's bowling coach on Monday, BCCI sources revealed.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
The final year evaluation of the students is yet to be completed. Most of the theory papers are yet to reach the hands of the invigilators as they are kept in the archives room that has been sealed shut at the behest of the university itself.
'He is already training in Mumbai and is expected to be in Bangalore for the fitness test and get a formal okay from the National Cricket Academy.'
Gambhir, one of the finest among IPL skippers with two titles for Kolkata Knight Riders, spoke to PTI exclusively on a host of topics including Rahul's leadership, team composition and how he intends to handle relation between Deepak Hooda and Krunal Pandya.
A part of the fabulous seven-strand necklace, they may fetch $7-9 mn.
One-sponsor-one-fund rule may set off merger as Amundi seen sponsoring two funds following buyout.
A video showing anti-Muslim slogans being raised during a protest at Jantar Mantar here was widely circulated on social media, following which the Delhi Police registered a case in connection with the matter on Monday.
Since January 2021, the inflation rate in health has stood in the range of 6.08-8.44 per cent.
A round-up of Ranji matches played on Friday.
Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
However, it may still not change its stance on the policy rate as inflationary pressures are coming from high commodity prices.
Like all cricketers, Krunal had been confined to his house in Vadodara since March 25, when the centre enforced a nationwide lockdown to curb the outbreak of COVID-19 pandemic.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
The legendary Sunil Gavaskar feels that swashbuckling all-rounder Hardik Pandya not bowling in the IPL is a 'big blow' for not just Mumbai Indians but also the T20 World Cup-bound Indian team.
At least 11 people were killed when two three-storey buildings built 11 years back collapsed in Madhavnagar locality of Atladara area in Vadodara in the wee hours on Wednesday and about 40 people were feared to be stuck under the debris.
The proposed amalgamation will make Bank of Baroda, which will merge the other two lenders with itself, the second largest public sector bank after State Bank of India in place of Punjab National Bank.
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