The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
Except for Xi, 69, all top officials including the number two leader, Premier Li Keqiang will be replaced in the massive reshuffle to follow in the days to come, which included a new foreign minister replacing the incumbent Wang Yi.
Now that almost 10 infrastructure ministries have submitted a fresh list of their core infrastructure assets, the government has realised it stands to make much more money from asset monetisation than previously thought. Two persons in the government said it stood to garner over 30 per cent more than the earlier estimates of Rs 2.5 trillion over the next four years under the National Monetisation Pipeline (NMP). The NMP, which is being prepared by Niti Aayog, is in the advanced stages of finalisation and is expected to be unveiled in August.
Rahstriya Swayamsevak Sangh ideologue S Gurumurthy, who was asked by the Sangh to probe charges against Bharatiya Janata Party president Nitin Gadkari, on Wednesday said he had found "no moral or legal wrongdoing" in Purti Group's funding and alleged that the media is giving the issue a political colour.
With the United Progressive Alliance declaring Hamid Ansari as its candidate for the post of vice president, the Bharatiya Janata Party on Saturday decided to go for a contest, but maintained that it will finalise its nominee after consulting National Democratic Alliance allies.
The rising market poses a dilemma for investors on whether to continue buying, reduce equity holding, or exit equities altogether.
A decision on the way ahead for the ambitious Food Security Bill is expected to be taken on Wednesday with Prime Minister Manmohan Singh and Congress President Sonia Gandhi holding deliberations on the matter.
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
Congress is likely to clear its position on the vexed issue of Telangana soon, as a view is firming up in the party that dragging on with the separate statehood demand will be detrimental to its interests.
A day after the all-party meeting discussed Jammu and Kashmir, the Congress's Core Group deliberated the strategy for the troubled state and a blueprint for the road ahead.
After distancing itself from the controversy over Nitin Gadkari's business dealings, Rashtriya Swayamsevak Sangh on Sunday said it was upto Bharatiya Janata Party to decide on his second term as party president.
The Prime Minister's Office on Friday rubbished the claim by Gujarat Chief Minister Narendra Modi that Rs 1,880 crore were spent on overseas visits of United Progressive Alliance chairperson Sonia Gandhi, saying it was "untrue and misleading".
The consortium of 17 banks, led by SBI, has an outstanding of over Rs 7,000 crore (Rs 70 billion) from the carrier but has shares of listed entities like United Spirits as collaterals which should realise Rs 500 crore (Rs 5 billion).
The first signs of efforts to end the nine-day impasse on government formation in Jammu and Kashmir emerged on Saturday with Peoples Democratic Party chief Mehbooba Mufti calling a meeting of her party's "extended core group" in Srinagar, expectedly to discuss the future course of action and ties with ally Bharatiya Janata Party.
Prime Minister Manmohan Singh and Congress president Sonia Gandhi are expected to meet on Friday evening in the backdrop of opposition demand for a probe by a joint parliamentary committee into the Indian Premier League controversy.
Describing India as an important member of the Quadrilateral Security Dialogue (the Quad) and a crucial partner for stability in the Indo-Pacific, the letter said that the lawmakers support the deepening strategic partnership between the two countries.
The state government last week announced the schedule for holding elections to local bodies and panchayats in the state.
The United Progressive Alliance on Sunday decided not to oblige the opposition by asking for the resignation of Railway Minister Pawan Kumar Bansal, whose nephew was arrested in a bribery case, as also Law Minister Ashwani Kumar, who is in the eye of a storm over the coal-gate controversy.
'The two sides agree to continue firmly supporting each other in safeguarding their respective core interests,' a joint statement issued at the end of Muizzu's talks with Chinese leaders said.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
Dalmia Bharat Ltd on Monday announced the acquisition of the cement assets of Jaypee Group's flagship company Jaiprakash Associates Ltd and its associate firms at an enterprise value of Rs 5,666 crore. In a regulatory filing, Dalmia Bharat informed that its wholly-owned subsidiary Dalmia Cement Bharat Limited (DCBL) has entered into a "binding framework agreement for the acquisition of clinker, cement and power plants from Jaiprakash Associates Limited and its associate company." The deal includes a total cement capacity of 9.4 Million tones (MnT) per annum, along with clinker capacity of 6.7 MnT and thermal power plants of 280MW at an enterprise value of Rs 5,666 crore, it added.
The Bharatiya Janata Party on Friday postponed its brainstorming session, scheduled for August 17-19 in Shimla, by two days, in view of a meeting of chief ministers and by-elections in some states. "It had to be postponed by two days as the prime minister has called a meeting of chief ministers to discuss internal security on August 17 and there are assembly by-elections on August 18," BJP president Rajnath Singh said.
Protesters on Thursday formally ended their 12-day fast against the Koodankulam Nuclear Power Project, a day after the Tamil Nadu government promised to pass a resolution at the Cabinet for halting the project.
India, which abstained during the vote on a strong resolution against Sri Lanka's human rights practices at the UNHRC, on Tuesday urged Colombo to fulfill its commitments on the devolution of political authority, to carry forward the process of reconciliation and address the aspirations of the Tamil community in the island nation.
Khan, 70, was arrested from his home in Lahore on Saturday shortly after an Islamabad trial court found him guilty of 'corrupt practices' in the Toshakhana corruption case and sentenced him to three-year imprisonment.
Congress top brass on Friday left the contentious issue of bringing the prime minister within the ambit of Lokpal to the government to decide.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
The Bharatiya Janata Party has paved the way for the appointment of Jagadish Shettar as the next chief minister of Karnataka. BJP leader L K Advani who had reservations about the appointment of Shettar appears to have given in to the demands made by former Karnataka CM B S Yeddyurappa and his camp.
With A P J Abdul Kalam deciding not to join the Presidential race, the Bharatiya Janata Party core group met in New Delhi on Monday night to discuss its strategy including support to P A Sangma and reluctance of allies like the Janata Dal-United to go for a contest against United Progressive Alliance nominee Pranab Mukherjee.
The core group of Anna Hazare's team would discuss invitations to Kashmir and Manipur during its meeting on September 10 and 11 at Anna's village Ralegan Siddhi.
After a CAG report rapped the Delhi government for irregularities in CWG projects and dragged the prime minister's office in the 2G spectrum case, the Bharatiya Janata Party on Sunday appeared all set to raise these issues in Parliament and even force adjournment of the two Houses.
BJP leader Arun Jaitley said, "the BJP core group would be meeting later today to decide what it will do on the road (on the Lokpal issue). We will expose the government on the road and make the public aware in the wake of Thursday's developments. We will take up this Bill in the next session and expose the government there also."
Gandhi said the govt "tried everything to stop" his 'Bharat Jodo Yatra', but nothing was working against the "effect" of the foot march.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
Asserting that it was determined to ensure the passage of the Women's Reservation Bill in Parliament, the Bharatiya Janata Party has sought to make political capital on the issue by stating that since the United Progressive Alliance coalition was in minority in the Rajya Sabha, the onus of getting it adopted was with the main opposition. BJP president Nitin Gadkari on Saturday convened an emergency meeting of the party core group to discuss the Women's Reservation Bill.
Asserting that all options are open for government formation in Jammu and Kashmir, Bharatiya Janata Party state president Jugal Kishore on Monday said his party would not form an alliance in haste as they want a stable government which would last for 6 years.
The BJP core group held a meeting in New Delhi on Sunday to discuss the blast in a German bakery in Pune on Saturday evening in which nine persons were killed. It said the government must introspect whether the intelligence collection and security responses are still inadequate.
On a mission to cool soaring bilateral tensions, United States Secretary of State Antony Blinken on Sunday held extensive talks with his Chinese counterpart Qin Gang on a range of issues, including the Taiwan issue and the Ukraine war.
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