The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
The announcement was a surprise as the new administration to be headed by the new Premier is scheduled to take over during the annual Parliament session slated to be held from March 5 next year.
As deputy governor, Patel headed the RBI panel to draft the monetary policy report, which became the basis of the ongoing reforms at the apex bank
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
Amid fears of a third wave of coronavirus pandemic and hardening of retail inflation, the Reserve Bank is likely to maintain status quo on interest rate and watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy. The RBI is scheduled to announce its bi-monthly monetary policy review on August 6 at the end of the three-day meeting -- August 4-6 -- of the Monetary Policy Committee (MPC). The RBI Governor-headed six-member MPC decides on the key policy rates.
The RBI on Wednesday provided more time to exporters to collect payment of goods and software sold to overseas buyers and repatriate that to India, as the central bank announced more measures to deal with the economic fallout of the Covid-19 pandemic. The central bank has also decided to increase the limit of advances it gives to states and UTs by 30 per cent under the Ways and Means (WMA).
The decision to impose night curfew for nine days from 11 pm to 5 am starting from Thursday was taken on Wednesday in line with the Centre's advice, amid concerns over a new COVID-19 variant spreading in the United Kingdom.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
With the unanticipated floods across Tamil Nadu catching the unprepared administration unawares, Stalin finds that some of the early positives that had rubbed on his initiatives have been lost, observes N Sathiya Moorthy.
Speaking at the concluding day of the three-day brainstorming session, Chintan Shivir, in Udaipur, Sonia Gandhi said, "We will launch a national Kanyakumari to Kashmir Bharat Jodo Yatra beginning on Gandhi Jayanti this year. All of us will participate in it."
CBI has also named unknown officials of the union environment ministry in the PE.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
The government told an all-party meeting Monday that it does not intend to bring any legislative business in Rajya Sabha during the first part of the Budget Session which is till February 11, sources said.
UK visas may be auctioned off to overseas millionaires or "sold" in exchange for donations to hospitals and universities under new government proposals.
Thackeray said lockdown has been partially eased because economic activities need to continue as 'now we have to learn to live with the virus'.
The new rates, which are likely to be at $8-8.4 against the current price of $4.2 per million British thermal unit, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily's predecessor, S Jaipal Reddy.
Experts believe scrapping some projects is likely to bring some stability in road sector.
'Government shouldn't be in the business of running airlines, instead it should develop the ecosystem of civil aviation.'
Accusing the Congress of creating obstacles in the path of growth and economy, he declared that the government would try to get the bill passed with the help of parties
Select committees of the House have already submitted their reports
Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
IMF projected India's economic growth at 4.25% in 2013-14.
The government will launch the mega public offer of LIC by March and file draft papers with market regulator Sebi by the end of this month, an official said. Finance Minister Nirmala Sitharaman had last week reviewed the progress of the initial public offering (IPO) of Life Insurance Corporation (LIC) in a meeting with top officials of the ministry. The official said the September 2021 quarter financials of LIC are getting finalised as well as fund bifurcation is in progress.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
After the 18-member 'Assam Advisory Committee' suggested the two organisations to form a political party, a source close to the development said the new outfit will be launched within the next 10 days.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
Govt notification on $8.4 a unit price likely by month-end
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
'For the RBI, it is also strategic to allow the rupee to over-depreciate, then come and buy the rupee, and benefit from its appreciation. Speculators who have driven the rupee too low then make losses,' says Ashima Goyal.
India moving in right direction on GST, says Panagariya.
The CIC's directive came while deciding on a plea by Lucknow-based activist Nutan Thakur, who had based her RTI application on some media reports that RBI deputy governor Viral Acharya in a lecture in 2017 had said accounts of some loan defaulters have been sent to banks for resolution.
The government has appointed 10 merchant bankers including Goldman Sachs (India) Securities, Citigroup Global Markets India, and Nomura Financial Advisory and Securities India to manage the mega initial public offering of country's largest insurer LIC. Other selected bankers include SBI Capital Market, JM Financial, Axis Capital, BofA Securities, JP Morgan India, ICICI Securities, and Kotak Mahindra Capital Co Ltd, a circular on the divestment department website said. "Government has finalised the book running lead managers and some other advisors for the IPO of LIC," DIPAM Secretary Tuhin Kanta Pandey tweeted. The divestment department had invited applications for the appointment of merchant bankers on July 15.
