Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
Sources describe the visit as "courtesy call" and there is nothing political about it.
Delhi environment minister Gopal Rai alleged in a press conference that Delhi police on the instruction of PMO put up banners carrying photos of PM Modi at venue of Van Mahotsav programme on Saturday night.
Jammu and Kashmir Lieutenant Governor Manoj Sinha flagged off the first batch of 4,890 pilgrims from the Jammu base camp.
Prime Minister Narendra Modi on Saturday laid the Foundation for a Rs 3,600-crore grand memorial for Shivaji Maharaj off the Mumbai coast, an event that comes a few months ahead of the civic polls and amid tussle among parties to claim the legacy of the 17th century warrior king.
This is likely to trigger a fresh round of tussle between the L-G office and the Arvind Kejriwal dispensation. There was no immediate reaction from the L-G office on the matter.
National People's Party, a partner in the existing government which won seven seats in the just concluded state poll, will not be a part of the new dispensation, Singh told reporters at his residence.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
The Bharatiya Janata Party's parliamentary board on Tuesday named Droupadi Murmu, the party's tribal leader from Odisha, as the ruling National Democratic Alliance's candidate for the presidential election.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
The bill was passed in the assembly in December last year but was pending before the council where the ruling Bharatiya Janata Party is one short of a majority.
While they have been watching every bit of development on television and through their contacts in the state of Maharashtra, those who have watched them closely say that the rebel Sena MLAs have maintained a reasonable calm so far.
The Jama Masjid on Thursday withdrew a controversial order restricting the entry of women in the mosque, after an outrage over the issue prompted Delhi Lieutenant Governor V K Saxena to intervene.
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
What would an Indian American president of the US look like, sound like and act like, especially on issues and policies pertaining to his or her 'mother-land'?, asks N Sathiya Moorthy.
The Enforcement Directorate (ED) on Wednesday conducted raids in three locations in and around Kolkata and again recovered large stacks of cash from a flat linked to Arpita Mukherjee, considered a close associate of arrested West Bengal Industry Minister Partha Chatterjee.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
Singh said the warship's commissioning will boost India's maritime power.
The 27-page code was approved at the last meeting of the PCB's Board of Governors and aims to cover every individual working with the Board and the Pakistan Super League (PSL).
The 42-day-long annual pilgrimage to the holy cave shrine was scheduled to commence on June 23.
Unless controlled and contained, given the untested belief that the north Indian labour support and follow the Hindutva kind of political ideology, there is a potential in terms of ideological clashes with their Dravidian brethren in the local neighbourhoods, and it all escalating into violence, especially during election time, predicts N Sathiya Moorthy.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
'If the RBI board forces the management's hand on all the key issues, it should be prepared for resignations by the governor and the key deputy governor, Viral Acharya,' warns T N Ninan.
Liquidity in the banking system has slipped into a deficit for the first time in three weeks, prompting banks to borrow the largest quantum of funds from the Reserve Bank of India (RBI) in around a month and a half. The key catalyst for the sudden tightening in liquidity was due to outflows on account of advance tax payments, which occur towards the end of a quarter. Analysts also cited other factors such as a currency leakage and possible interventions by the RBI in the foreign exchange market, which contributed to the tighter liquidity conditions.
The panel will include Economic Affairs Secretary Subhash Chandra Garg and RBI Deputy Governor N S Vishwanathan.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Over to the government how they manage the uncertainty of monsoon and revive spending in order to entice RBI for another round of rate cuts
Ghulam Nabi Azad, in his first public meeting in Jammu after quitting Congress, announced to launch his own political outfit that will focus on the restoration of full statehood.
The government has proposed "drastic changes" in the rules framed to retune the composition of three committees of the RBI: Board for Financial Supervision, the Board for Payment and Settlement Systems and the Committee of the Central Board.
A 10-hour RBI central board meeting, on November 19, decides to set up a panel on the economic capital framework for the central bank and directs it to give forbearances to small businesses.
Trinamool Congress MP Derek O'Brien said the situation in Bihar is one of the reasons behind the Parliament session being cut short by the government.
Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
Singh's last rites will be conducted at the Mahatma Gandhi Government School ground in his Ghardana Khurd village and thousands are expected to gather to bid him farewell.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said he has tested positive for coronavirus and will work from isolation while the central bank will continue to function normally. Das said he is asymptomatic and has alerted those who came in contact with him in recent days.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
Bhalla will succeed former RBI deputy governor Subir Gokarn, who died in the US on July 30 after a brief illness.
Learning perhaps from the Kargil debacle, Musharraf tried hard to evolve as a statesman in his dealings with India, recalls Rana Banerji, who headed the Pakistan desk at RA&W.
Eighteen teams are working in the investigation of the case and all angles are being probed, it said.
If appointed interim head, Vishwanathan would head the central board meeting scheduled this Friday
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