After several years of downgrades to the country's medium-term growth outlook, the estimates are likely to be upgraded now, Credit Suisse said in a report. The country's economy is showing signs of bottoming out, it said. According to the report, the consensus forecasts of GDP growth for FY2022 over FY2020 stopped falling after October 2020 (currently at (-) 1 per cent). Analysts at Credit Suisse expect these estimates to be revised upwards.
The Centre could better its fiscal deficit at 6.6 per cent of GDP in this financial year on stronger-than-expected revenue buoyancy, even if the budgeted disinvestment target is not met, Fitch Ratings has said. The international rating agency had last week kept the sovereign rating unchanged at 'BBB-' with a negative outlook, and said that the risks to India's medium-term growth outlook are narrowing with rapid economic recovery from the pandemic and easing financial sector pressures. In an email interview with PTI, Fitch Ratings Director (Asia-Pacific Sovereigns) Jeremy Zook said the two key positive triggers that could lead to a revision of the outlook to stable are implementation of a credible medium-term fiscal strategy to lower debt burden and higher medium-term investment and growth rates without the creation of macroeconomic imbalances, such as from successful structural reform implementation and a healthier financial sector.
The Navy chief said this part of the world had witnessed multiple forms of terrorism in recent years and few countries in the region had been spared.
'Given the possibility that our unstable northern and western borders may become 'live' at short notice, any major systemic change which impacts combat effectiveness should be brought about in a cautious and progressive manner.'
Trump said, 'North Korea has just launched another missile. Does this guy (Kim) have anything better to do with his life?'
'India is possibly the most fiscally constrained market in the region.'
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
The bank has won the 'Best Retail Bank in India' award for the fifth year in a row.
Mumbai's Bandra Kurla Complex moved down from 18th to 19th position.
The India meteorological department has stated that day temperatures are likely to be above normal by 0.5 degree Celsius, reports Sanjeeb Mukherjee.
The Indian and Chinese armies have been locked in a bitter standoff at multiple locations in eastern Ladakh for over eight weeks since May 5.
Sri Lanka and southern India could continue to experience higher than normal rainfall and this could cause further flooding, particularly urban flooding, in certain locations, the report said.
While banks are not as exposed as the corporate sector during the initial stage of the pandemic, the strain on lenders could ultimately be profound. Banks face a second-order hit compared with the corporate and household sectors.
Pakistan is once again becoming a frontline State in big-power rivalry. But this time around, Pakistan stands to gain out of its geography, observes Ambassador M K Bhadrakumar.
The United States has not made a determination yet on any potential Countering America's Adversaries Through Sanctions Act (CAATSA) waiver to India with regard to its purchase of S-400 missile defence system from Russia, the Biden Administration said Tuesday.
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Jaishankar arrived on a day-long visit to prepare the ground for Prime Minister Modi's visit to Bangladesh later this month to participate in the celebrations of 50th anniversary of Bangladesh's Independence and 50 years of Bangladesh-India diplomatic relations.
Monsoon in August was almost 24 per cent below normal, which was the sixth driest August since 1901. It came on the back of a 7-per cent monsoon shortfall in July.
The experts said that climate change is not only raising temperatures and making India's heatwaves hotter, but also changing weather patterns that further drive dangerous weather extremes.
'India will come increasingly in the US crosshairs if it insists on maintaining its strategic autonomy, warns Ambassador M K Bhadrakumar.
'Both have a very nationalistic view of foreign policy.' 'They think they are shrewd and clever diplomats.'
The India-US joint statement said as responsible stewards in the Indo-Pacific region, Trump and Modi agreed that a close partnership between the United States and India is central to peace and stability in the region.
His comments came in the midst of the disengagement process between Indian and Chinese armies in Pangong Tso areas in eastern Ladakh where the two sides have been locked in a nine-month standoff.
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
US President Joe Biden on Wednesday announced that the US will allocate 75 per cent - nearly 1.9 crore of the first tranche of 2.5 crore doses - of unused COVID-19 vaccines from its stockpile through the UN-backed COVAX global vaccine sharing programme to countries in South and Southeast Asia as well as Africa.
'Even as discord over US-India trade and commerce colours diplomatic relations, defence relations between the two countries remain on a firm footing,' points out Ajai Shukla.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
According to the sources, there are limited prospects of J&J exporting its vaccine from the US to other countries in the near future and the "entire production" at the BE facilities in India, beginning July/August, will be handed over to the pharma giant under a contract between the companies.
It will take you 245 days to complete the journey.
Modi may take satisfaction from his display of considerable political skill in managing a mercurial, temperamental and unpredictable US president and nudging him into uncharacteristic restraint and even carefully orchestrated remarks. This personal chemistry will come in handy if Trump returns as president in the November elections, says former foreign secretary Shyam Saran.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
Two influential Congressional sub-committees will hold a joint hearing on Pakistan's commitment in the fight against terrorism
In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report. The number of dollar millionaires in India fell from 7,64,000 in 2019 to 6,98,000 solely because of the rupee's fall, while their cumulative wealth stood at $12.833 trillion, down $594 billion or 4.4 per cent from the previous year, according to the report by Credit Suisse Research Institute. The country is home to just 1 per cent of the global rich, whose number rose by 5.2 million to 56.1 million in the COVID-hit year. However, the report expects the number of millionaires in India to soar 81.8 per cent to 1.3 million by 2025.
The researchers named the new species Etmopterus benchleyi, after Peter Benchley, the author of the book "Jaws" and co-author of its 1975 film adaptation.
Johnson was to spend a few days in India starting April 26 as part of a planned itinerary, which is expected to include finalising a UK-India Enhanced Trade Partnership.
Pre-monsoon rainfall, colloquial referred to as "mango showers", is vital to many parts of the country.
Defence and strategic experts on Monday said that China's posturing in the Indian Ocean will disturb stability and peace in the region.
There is growing alarm at the inexorable rise of China, both of its military prowess and its aggressive bullying of other countries plus its subjugation of whole portions of its own population.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
