In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
Despite admitting to price pressures both from food items and input prices, RBI Governor Shaktikanta Das on Wednesday hoped that a normal Southwest monsoon will have a "soothing impact" on inflation pressures and ruled out any wide variations in medium-term inflation forecast from what was given in April. In an unscheduled address earlier in the day amidst the raging pandemic, Das said the overall outlook for the economy is highly uncertain and is clouded with downside risks. He offered a slew of relief and liquidity measures to individuals and small businesses apart from a Rs 50,000 crore special liquidity window to the healthcare sector.
There has been a quantum jump in the number of complaints of corruption received by the Central Vigilance Commission last year as against those in 2011.
How has the NDA government fared in tackling price rise, an issue it raised hell over in the run-up to the Lok Sabha elections? The Rediff Labs team finds out.
With this allocation of portfolios, the Sharad Pawar-led NCP has got most of the 'plum' ministries.
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
'The service charge is given to the employees as a part of their salary. Now, employees have been calling to negotiate their salaries to balance the loss that they will face personally. In which case, we won't be able to retain some of them.'
Major portfolios like home, finance and education were on Tuesday allocated to People's Democratic Party ministers by Jammu and Kashmir Chief Minister Mufti Mohammed Sayeed who will himself hold the charge of home ministry.
The restrictions imposed in March led to a sharp slump in demand from bulk consumers like hotels, restaurants, and roadside tea stalls, as they were forced to shut down. Sales of major milk products such as ice-cream, butter milk, and cheese, which usually spike during summer, also dropped.
The economy is gaining traction with gradual pick up in manufacturing activity and moderation in contraction of services, spurred by comfortable liquidity conditions, an RBI article on Tuesday said. Observing that the retreat of the second wave of coronavirus pandemic has been slow, the RBI in an article on the 'State of Economy' said, the aggregate demand conditions are buoyed by the release of pent-up demand post unlock, while the supply situation is improving with the monsoon catching up to its normal levels and sowing activity gaining pace. "Reaffirming the traction that the economy is gaining, the manufacturing activity is gradually turning around, while contraction in services has moderated.
In the 15-year dataset, the researchers noted an average of 7.8 incursions per year even though the Indian government's estimates are much higher.
A 23-year-old doctor was stabbed to death on Wednesday at a taluk hospital in Kottarakkara area of Kollam district in Kerala allegedly by a man, a school teacher under suspension, who was brought there by police after being involved in a fight with his family members.
The Union minister complained of breathlessness.
A 14-member council of ministers was sworn in Patna by Governor Phagu Chauhan on Monday and the BJP bagged seven berths.
The crop is currently trading at Rs 22 a kg compared to Rs 12.50 one month ago.
To curb rising food prices, the Union government is contemplating using large-scale nuclear irradiation technologyfor increasing the shelf life of fruit and vegetables, particularly that of onions and potatoes.
For months, offline retailers and traders have been lobbying hard for a national retail policy to protect their business from the growing influx of e-commerce.
After Delhi, four more states -- Gujarat, Tamil Nadu, Jammu and Kashmir and Uttarakhand - on Thursday banned the sale of Maggi noodles, as the popular instant snack came under mounting scrutiny over food safety concerns.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
Markets regulator Sebi joined hands by banning any fresh futures market position in chana, the only commodity among pulses where such trading was allowed
RBI Governor Shaktikanta Das on Friday said that inflation is on a declining trajectory, as it has fallen by 170 basis points from its January 2020 peak. Retail inflation fell to four-month low of 5.91 per cent in March over the previous month, mainly due to easing food prices.
The new cabinet, predictably, has a sizeable number of Yadavs and Muslims, though members of other sections of the society also find a place.
The draft favoured up to 49 per cent foreign equity in inventory model in the case of 100 per cent made in India products sold through Indian management-controlled platforms with resident Indian founders/promoters.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
The government is unlikely to come up with the IPO of Life Insurance Corporation (LIC) in the current financial year ending March 2022, as the valuation of the state-owned behemoth is taking more than anticipated time, and the preparatory work is still far from complete. There are still some issues that need to be addressed with regard to the valuation of LIC, a senior official of one of the merchant bankers said. Even after the valuation, there are several regulatory processes that have concluded, the official said.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
DEA officials to push for this at a meeting with FM Jaitley.
The central government said the railways and civil aviation ministry must suspend all concessional travel on trains and flights, except for students, patients and disabled people.
The 28 new ministers who joined the Chouhan cabinet on July 2 include 20 of cabinet rank and eight ministers of state.
The government on Tuesday said it is keeping a close watch on the developments in the crisis-ridden NSEL and will take action once reports of the two committees looking into the problems of the exchange are received.
In December, Aisha Shah was named as Partnerships Manager at the White House Office of Digital Strategy.
These items will remain under essential commodities segment till June-end, a move aimed at ensuring availability at reasonable prices and cracking down on hoarders/black marketeers.
Several experts are of the view that inflationary pressure, including that in food items, may build from October with economic activity gathering steam. However, the price movement in three key items of tomato, onions and potatoes, commonly known as TOP, may give some solace in the months to come. Traders and market watchers said the price movement in all the three will remain within the band sans any unusual spikes.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
The government, in February, had released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
According to BJP strategists, PMJAY and the PM Ujjwala Yojana will form the nucleus of the Modi government's re-election campaign.
Compliance costs and legal scrutiny could rise.
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In most developed markets, there are reporting agencies for spot markets and generally deals took place on the over-the-counter market.
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