As many as 29,557 COVID-19 patients have recuperated in the past 24 hours.
India's services sector activities eased to a three-month low in April, as the rise in business activity was constrained by the pandemic and sentiment towards growth prospects faded, a monthly survey said on Wednesday. The seasonally adjusted India Services Business Activity Index fell to 54 in April from 54.6 in March, the slowest increase in output in three months. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
That would reverse the growth trend of around 11 per cent per annum, which the industry has logged over the past ten years, making it one of the most adversely-affected sectors of the economy.
'From environmental impact assessment to forest clearances, this has turned out to be an unscientific road-widening project with catastrophic consequences.'
'While intensification of fuel prices and broad-based domestic cost pass-through pressures is a downside risk, core inflation is expected to strengthen further as demand recovers to pre-Covid levels,' the ministry said on Friday.
Reliance Industries Ltd, India's largest private firm, will invest $5.5 to 6 billion to raise capacity of its Jamnagar oil refinery to 60 million tonnes by 2009.
India has one thing that China has - the potential to be of interest as a huge market in its own right.
IMAGES from Day 2 of the rescheduled 5th Test between England and India at Edgbaston in Birmingham on Saturday.
Domestic airports across the country are bursting at the seams. And new ones are stuck.
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The Dreamliner's introduction on the daily Singapore route is on popular demand, said Nirbhik Narang, Air India's country manager in Singapore.
'The financial sector's performance in the first two quarters was a revelation.' 'It clearly showed the clean-up had been done in the past one-and-a-half years and that capital brought in was significantly stronger.'
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
A record 14,92,409 tests have been conducted for detection of COVID-19 in a span of 24 hours.
'We plan to touch Rs 1 trillion of Amul brand's turnover in the next five years.'
Prime Minister Narendra Modi on Saturday said the target date for achieving 20 per cent ethanol-blending with petrol has been advanced by five years to 2025 to cut pollution and reduce import dependence.
In his pre-recorded video statement to the landmark General Debate of the 75th session of the United Nations General Assembly, Modi said the stability in the United Nations and empowerment of the world body are essential for the welfare of the world.
The existing capacity will be able to match passenger growth.
The seasonally adjusted India Services Business Activity Index rose sharply from 34.2 in July to 41.8 in August, the highest since March, before the escalation of the pandemic.
Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre (warehouse) in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster the e-commerce major's efforts to ramps up supply chain infrastructure in the eastern part of the country. The facility will also help thousands of sellers offer a wider selection and enable faster deliveries of customer orders within the region and neighbouring states while also helping create national market access, according to a statement.
The Japanese giant will also consider increasing its capacity, which could mean a new plant or expansion of existing units, after its ongoing expansion to 500,000 vehicles is completed in phases.
He also said that efforts were on to increase the use of natural gas by four times in this decade and to double the oil refining capacity in the next five years.
With decline in number of fresh COVID-19 cases and easing of restrictions, the country's gross domestic product (GDP) will grow at 8.5 per cent in FY2021-22, according to credit rating agency Icra Ratings. It expects the gross value added (GVA) at basic prices (at constant 2011-12 prices) to grow at 7.3 per cent in FY2022. "The impact of the second wave of COVID-19 and the ensuing state-wise restrictions was seen across a variety of high frequency indicators in April-May 2021.
Having established its presence in the country, luxury carmaker Lexus is now looking to chart its next phase of growth in India as it looks to consolidate sales network and drive in new models, including fully electric cars in the country, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, initiated operations in India in 2017 and currently sells seven models in the country, including the locally-produced ES 300h sedan. Known for its self charging hybrid cars, the company is now gearing up to drive in battery electric vehicles, besides ramping up its existing product portfolio in the market.
Import duty on PVC, at 7.5%, is far lower than that prevailing in comparable economies.
Railway Minister Suresh Prabhu presented the Railway Budget in the Parliament on Thursday.
Post the completion of expansion programme in mid-2012, the engine plant's production capacity will increase from 2.5 lakh units to 330,000 units per year.
It is currently scouting for suitable firms in Europe and planning to close the deal some time this year, a top company executive said.
With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the mass segment.
Rough estimates show that at a rate of Rs 1 crore per hospital bed, the investment in India alone would be around Rs 2,000 crore
Arguing that the recent elevation in retail inflation is not structural but supply-driven and therefore potentially transitory, a foreign brokerage report has forecast that the benign interest rate regime will continue at least until next June. The assessment comes a day ahead of the third bimonthly monetary policy review on Friday wherein it's widely expected that the monetary authority will leave the key rates unchanged at 4 per cent even though the consumer prices have been on remaining above 6 per cent since May and crude prices have been north of $70 a barrel for months.
The nation will have nine nuclear reactors by 2024 and a new nuclear project, the first in northern India, will come up 150 kms away from Delhi in Gorakhpur of Haryana, the government informed the Rajya Sabha.
He reaffirmed India's resolve to fight terrorism in all its forms and manifestations and said peace and prosperity cannot coexist with terrorism, in remarks seen as directed at Pakistan.
We are entering 2022, facing another infectious variant, with much the same baseless confidence, notes Mihir S Sharma.
'It is unfortunate that aspersions are being cast on how our brave Armed Forces are treated. The armed forces give the best possible treatment to their personnel'
In September, Bharat Biotech aimed to supply 35 million doses, and take this up to 55 million by October. This is still less than what the Indian government expects from the company.
Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
Russia and China have a broad consensus today on almost all core issues related to global strategic stability, which is unprecedented in modern history, observes Ambassador M K Bhadrakumar.
State-owned companies have been set stiff targets to increase accountability as they get ready for divestment. Nikunj Ohri explains why meeting them will be challenging.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
