'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
The southern Indian state's per capita income for 2009 stands at Rs 63,000 -- the highest in the country.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
India imported goods worth $4.23 billion in June from sanctions-hit Russia, up 6.8 times as compared to last year, as demand for shipments of crude oil grew at the fastest pace during the month. Crude oil worth $3.02 billion was imported in June, which translates into a share of 71 per cent of the total imports from Russia, commerce and industry ministry data showed. Similarly, during the April-June quarter, India's imports from Russia were valued at $9.27 billion, up 369 per cent on year.
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
The Supreme Court (SC) recently declared that a Hindu father or the manager of a Hindu Undivided Family (HUF) has the power to make a gift of ancestral property for a 'pious purpose', but such an alienation can't be permitted 'out of love and affection'. A petitioner had filed a suit against his father and another person called KC Laxmana for partition and separate possession of his one-third share in the property, and for a declaration that the gift or settlement deed executed by his father in favour of the second defendant, KC Laxmana, be declared null and void. Bharat Chugh, former judge and advocate, says, "The plaintiff argued that the property belonged to the joint family (of which Laxmana was not a part), and transfer of property without his consent was not valid." The SC ruled that gifting out of natural love and affection cannot be interpreted as 'pious purpose'.
India remains a young nation, but it will not get younger in future. India has not managed to noticeably improve education. Nor has it managed to create employment opportunities, observes Devangshu Datta.
'Judges have families; they have their future to worry about.' 'In an atmosphere of fear, the judges are constantly under some kind of psychological pressure.' 'I have seen this is happening across the board in the country today.'
'It will impact the 2024 Lok Sabha elections.'
The International Monetary Fund (IMF) on Tuesday cut its economic growth forecast for India to 9.5 per cent for the fiscal year to March 31, 2022 as the onset of a severe second COVID-19 wave cut into recovery momentum. This forecast for 2021-22 is lower than the 12.5 per cent growth in GDP that IMF had projected in April before the second wave took a grip. For 2022-23, IMF expects economic growth of 8.5 per cent, larger than the 6.9 per cent it had projected in April.
Violation of the ban will invite punitive action, including a fine or a jail term or both, detailed under Section 15 of the Environment Protection Act (EPA) and under bylaws of respective municipal corporations, they said. For effective enforcement of the ban, national and state-level control rooms have been set up and special enforcement teams formed to check illegal manufacture, import, stocking, distribution, sale and use of banned SUP items, officials in the ministry said.
'The distrust of traditional political parties in Punjab is an advantage for AAP.'
At Rediff Labs, we analysed the data on military expenditure by Stockholm International Peace Research Institute.
The ban on certain single-use plastic (SUP) items kicks in from Friday, with state governments initiating an enforcement campaign to identify and close down units engaging in production, distribution, stocking and sale of such items, officials said. Though several manufacturers have said they are not prepared to implement the ban due to a lack of alternatives, Union Environment Minister Bhupender Yadav had on Tuesday said the government had given enough time to the industry and the general public to prepare for the ban on SUP items and it hopes for everyone's cooperation in implementing it from July 1. Violation of the ban will invite punitive action, including a fine or a jail term or both, detailed under Section 15 of the Environment Protection Act (EPA) and under bylaws of respective municipal corporations, officials in the Union environment ministry said.
Social changes take a "little time" and sometimes it is easier to bring a law but difficult to persuade society to change with it, the Supreme Court observed on Thursday while deliberating upon the issue relating to the dissolution of marriages.
The top five states with a high Human Development Index in 2017 were Kerala, Chandigarh, Goa, Lakshadweep, Delhi. The bottom five states in 2017 were Bihar, Uttar Pradesh, Jharkhand, Madhya Pradesh and Odisha.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
'The digital trust level has drastically gone up due to Covid, not only in tier-I and II cities, but also in tier-III, IV and V geographies,'
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
'From the tiniest to mid-level organisations and even some at the lower end of the large-scale ones would say that computerisation and the extensive documentation and regulatory requirements for GST have made the compliance process worse in many cases.'
Human Development -- a measure of a nation's health, education, and average income -- has declined for two years in a row.
The key risks against a fast recovery would include long delays in business travel resumption, delays in commissioning, etc.
Prosus-backed fintech firm PayU is set to acquire India's earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest acquisition in India's digital payments space. The deal will also give exit to investors General Atlantic, TA Associates, Temasek, Clearstone Ventures, and Visa. The proposed acquisition will help PayU, the payments and fintech business of Prosus which operates in more than 20 markets, become one of the leading online payment providers globally by total payment volume (TPV).
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
'Aquaponics can effectively cushion the impact of a calamity like COVID.'
Bangladesh might overtake India this year by per capita income in nominal dollars, but it is not yet close to becoming South Asia's economic powerhouse anytime soon, T N Ninan points out.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
Europe reigns supreme among the world's most innovative nations.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
China's per capita GDP is about four times of India's, Raghuram Rajan said.
There's no silver bullet to get rid of poverty, says Alok Sheel.
'It is building the country's infrastructure, and delivering it very efficiently.'
World's 300 largest metropolitan economies account for nearly half of global economic output.
Billionaire Gautam Adani on Monday said his infrastructure conglomerate will invest between $50-70 billion in organic and inorganic growth opportunities across the entire energy value chain over the next decade. Speaking at an industry event, he said the port-to-energy group will invest over $20 billion in renewable energy generation alone. "Over the next decade, we will invest over $20 billion in renewable energy generation.
'For the common man, the economic conditions are not going to get better.'
It is largely due to his vision and efforts that we have almost quadrupled our per capita milk availability in the last 40 years, points out Shailesh Dobhal.
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
Observing that India's worsening COVID-19 situation and the strict measures to contain it have hit the economy hard, the rating agency said productive capacity has been severely disrupted since the start of the pandemic.
The culture of freebies burdens coming generations with the huge bill for the flagrant abuse of power by preceding governments, points out Virendra Kapoor.
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