While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
According to reports, public transport and banking services remain partly disrupted for the second day in some states.
When you create a culture where people find purpose in what they do, they will go above and beyond for you, even in difficult personal circumstances, says Radhika Gupta, MD and CEO, Edelweiss MF
'Regardless of whether you invest Rs 100 or Rs 1 crore per month, risk is inevitable.' 'Positive returns at the end of the year can never be guaranteed.' 'This is a fundamental truth every SIP investor must grasp.'
From bhikshus of Ashokan 3rd century BC and medieval Sufis to Oxfam, Omidyar and Soros now, non-State actors have any real power only when they work in conjunction with a real State, asserts Shekhar Gupta.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
Chief Minister K Chandrasekhar Rao-led Bharat Rashtra Samiti has pinned hopes on the development work his government undertook during the past ten years, while opposition Congress and BJP bank on anti-incumbency and the alleged failures of the incumbent.
"Yeh sab doglapan hai." With these words, Ashneer Grover not only called out an entrepreneur being hypocritical, but also shot to fame as a reality television star. It happened in the first few days of January, when the funded part of the start-up world needed some warm-up to get back to work, and inevitably Grover's antics on the show became a talking point. The Twitterati also debated whether it was unbecoming of a founder to diss a peer's business model with such abrasion. And hundreds of memes, with the dialogue set in various circumstances, flooded social media.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
If the index is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels.
Firhad Hakim, a senior minister in West Bengal's ruling Trinamool Congress (TMC), has defended his remarks on the Muslim population in the state and India, saying he is a diehard secular and patriotic Indian. Hakim's comments, made at a minority students' event, have sparked controversy with the BJP, Congress, and Hindu monks accusing him of promoting communalism and advocating for a Muslim majority. Hakim, however, clarified that his remarks were taken out of context and that he was merely advocating for the empowerment of the Muslim community. He also highlighted the need for greater representation of Muslims in the judiciary.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
In 2022 Nanaji Dembi pulled down the Hurriyat office board in Srinagar, an act of defiance that grabbed headlines. Despite such nationalistic bravado, the BJP has denied him a ticket for the assembly election.
Prime Minister Narendra Modi and Congress leaders Sonia Gandhi and Mallikarjun Kharge were among the top leaders who paid homage to former prime minister Manmohan Singh at his home in New Delhi on Friday.
The Cabinet on Wednesday approved $1.5 billion (about Rs 9,000 crore) World Bank support for the Swachh Bharat Mission (SBM) in rural areas.
'We are in a position to start due diligence and private data room access shortly.'
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
According to the World Bank, economic growth in middle-income countries, including India, is not accelerating. 'In fact, it is slowing down as incomes increase, with the trend becoming more pronounced each decade.'
This will be an upfront payment for the vaccine doses that these two companies will supply to the government.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
'He came back from the US only to work for his country.' 'He has invested his fortunes to build this company and is married to his work.' 'Rarely does one see such commitment.'
Curbs under Section 163 (power to issue an order in urgent cases of nuisance or apprehended danger) of the Bharatiya Nagarik Suraksha Sanhita (BNSS), which were set to expire on Sunday, have now been extended till December 31 in Sambhal.
Iyer, popularly called Param, is keen to return to the US where he had spent several years working with the World Bank at its Washington office -- a job he later quit to become road manager for his daughter, a professional tennis player.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
They then vandalised the premises, breaking CCTV cameras and locking the main gate before leaving, he said.
A peek into the life of a public-sector banker who did well professionally, but paid a price for it, points out Tamal Bandyopadhyay.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Justice Sanjiv Khanna 'belongs to that school of legal luminaries who give the highest primacy to facts.'
"During the Congress regime, the news headlines were of India handing over another dossier to Pakistan about terror activities. Some of our friends in media used to clap after such any such dossier was sent," Modi said at an election rally in Maharashtra's Latur.
Dr T V Somanathan is the first finance secretary to be appointed Cabinet secretary since 1985. His appointment at this juncture seems to carry much meaning for the forthcoming trajectory of reforms and restructuring of India's steel frame.
Zeeshan Siddiqui lashed out at the Congress over its treatment of minorities and accused it of being 'communal'.
The politically crucial Malwa-Nimar region of Madhya Pradesh played a key role in propelling the Congress to power in 2018 after a gap of 15 years and the party is utilising the Rahul Gandhi-led Bharat Jodo Yatra to strengthen its position in the belt a year ahead of the assembly polls.
Squadron Leader Kanwal Deep Mehra's daredevilry during the 1971 War brought down a Pakistani F-86 Sabre. But he had to bail out of his plane, was badly injured. Then a fierce band of armed guerillas evacuated him to safety at great risk to their lives.
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
There will be different ways of returning the money, depending on the profile of the depositors and the amount, predicts Tamal Bandyopadhyay.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
'There is no immediate threat to the government, and they would prefer the growth agenda.'
