News for 'Economic Affairs'

Iran shutting Hormuz Strait will impact Indian economy: Experts

Iran shutting Hormuz Strait will impact Indian economy: Experts

Rediff.com22 Jun 2025

The Israel-Iran conflict has entered a 'decisive phase' after the United States bombed three major Iranian nuclear sites Sunday morning, feel strategic affairs experts with some of them arguing it was Washington, DC's 'responsibility' to not get involved in the military standoff.

MSP for wheat hiked by Rs 150/quintal ahead of state polls

MSP for wheat hiked by Rs 150/quintal ahead of state polls

Rediff.com16 Oct 2024

The government on Wednesday increased the Minimum Support Price (MSP) for wheat by Rs 150 to Rs 2,425 per quintal for the 2025-26 marketing season, a move that comes ahead of key state elections. The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved price hikes for six rabi crops, with increases ranging from Rs 130 to Rs 300 per quintal for the 2025-26 marketing season beginning April 2025. "Like for kharif crops, there is a significant increase in the MSP for rabi crops," Information and Broadcasting Minister Ashwini Vaishnaw said in a media briefing after the Cabinet meeting.

Modi reaffirms 'unwavering' support to Lankan Tamils

Modi reaffirms 'unwavering' support to Lankan Tamils

Rediff.com5 Apr 2025

Prime Minister Narendra Modi has conveyed India's expectation to Sri Lankan President Anura Kumara Dissanayake that Colombo will fulfill the aspirations of the Tamil community in the island nation and conduct provincial council elections. The issue was discussed during wide-ranging talks between Modi and Dissanayake. Modi also met with Tamil leaders from Northern and Eastern Sri Lanka, reaffirming India's commitment to supporting the community's well-being. The Tamil community has been advocating for the implementation of the 13th Amendment, which provides for devolution of power. Modi expressed hope that Sri Lanka will fully implement its constitution and conduct provincial council elections.

Budget 2025: FM takes part in customary halwa ceremony

Budget 2025: FM takes part in customary halwa ceremony

Rediff.com24 Jan 2025

Finance Minister Nirmala Sitharaman on Friday participated in a traditional 'halwa' ceremony, marking the final stage for the preparation of Union Budget 2025-26 to be unveiled on February 1 in the Lok Sabha. The ceremony is a customary ritual in which traditional dessert 'halwa' is prepared and served to officials and staff members of the finance ministry who are involved in the preparation of the Budget.

Ranya Rao case: ED raids institutions linked to K'taka home minister

Ranya Rao case: ED raids institutions linked to K'taka home minister

Rediff.com21 May 2025

The Enforcement Directorate (ED) on Wednesday searched locations in Karnataka, including educational institutions linked to state Home Minister G Parameshwara, as part of a probe into alleged gold smuggling-linked money laundering case against Kannada actor Ranya Rao and others. The ED sources said an educational trust is suspected to have "diverted" funds and made a payment of Rs 40 lakh towards the credit card bill of Rao, allegedly on the instructions of an influential individual. The sources claimed the trust is linked to Parameshwara and the "influential" individual is a politically exposed person. The searches found there were no supporting vouchers or documentation to "substantiate" this payment (for credit card bill payment), they said.

Concerning: Jaishankar on $21 million USAID row

Concerning: Jaishankar on $21 million USAID row

Rediff.com23 Feb 2025

India's External Affairs Minister S Jaishankar has expressed concern over information regarding USAID funding in India, calling it "concerning" and hinting at potential "bad faith" activities. Jaishankar asserted that India is looking into the matter and that the country should know who is involved in such activities. He also emphasized the need to expand India's security definition in the digital age, highlighting the influence of technology and narratives on public perception. The statements come amid controversy surrounding USAID funding for certain activities in India, with the US President Donald Trump questioning the agency's funding of voter turnout efforts.

RBI Guv Shaktikanta Das to demit office on Tuesday

RBI Guv Shaktikanta Das to demit office on Tuesday

Rediff.com9 Dec 2024

Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.

India Ramps Up Gold Reserves...

India Ramps Up Gold Reserves...

Rediff.com19 Mar 2025

The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.

ED seeks confiscation of Rs 661cr assets in National Herald case

ED seeks confiscation of Rs 661cr assets in National Herald case

Rediff.com17 Apr 2025

The Enforcement Directorate (ED) has filed a chargesheet in the Associated Journals Limited-Young Indian-National Herald money-laundering case, seeking confiscation of assets worth Rs 661 crore and appending statements of Congress leaders Sonia Gandhi and Rahul Gandhi. The agency has accused the Gandhis of orchestrating a conspiracy to illegally obtain the underlying assets of AJL by the beneficial owners of YI (Sonia Gandhi and Rahul Gandhi). Both Sonia Gandhi and Rahul Gandhi have denied any wrongdoing and said the takeover of Associated Journals Limited (AJL) by Young Indian (YI) was not for commercial purposes. The Congress has slammed the chargesheet, alleging that the ED action against its leaders shows panic and moral bankruptcy of the "despotic" government, while the BJP has continued to call out the role of the Gandhi family in the matter.

Trump, Xi hold talks, agree to resume trade negotiations

Trump, Xi hold talks, agree to resume trade negotiations

Rediff.com6 Jun 2025

The call lasted approximately one and a half hours, and resulted in a very positive conclusion for both countries.

US Fed rate cut unlikely to impact foreign inflows into India

US Fed rate cut unlikely to impact foreign inflows into India

Rediff.com19 Sep 2024

The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but the RBI will take a decision on interest rate cut keeping the Indian economy in mind. "It is a positive for the global economy, including the Indian economy. "It is a 50 basis points cut from a high level.

Stalin Can Win 2026 Poll If...

Stalin Can Win 2026 Poll If...

Rediff.com18 Jul 2025

...the DMK chief minister's campaign -- which includes criticism of the BJP's 'pro-Hindutva, anti-Tamil, anti-federal' policies and building on his own government's social welfare programmes targeting especially women and youth -- appeals to Tamil Nadu's voters in next year's assembly election, explains N Sathiya Moorthy.

Ramping up vax cover key to restoring economic activity: FinMin

Ramping up vax cover key to restoring economic activity: FinMin

Rediff.com10 Jul 2021

Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.

Meet Nirmalaji's Core Budget Team

Meet Nirmalaji's Core Budget Team

Rediff.com23 Jul 2024

The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.

Pak bans Indian ships after New Delhi's fresh punitive measures

Pak bans Indian ships after New Delhi's fresh punitive measures

Rediff.com4 May 2025

Pakistan has banned Indian-flagged ships from entering its ports with immediate effect after India imposed fresh punitive measures, including a ban on the import of goods and entry of Pakistani vessels into its ports, against Islamabad amid heightened tensions following the Pahalgam terror attack. The move comes after India announced a raft of punitive measures against Pakistan, including the suspension of the Indus Waters Treaty, shutting down of the only operational land border crossing at Attari, and downgrading of diplomatic ties following the terror attack. The Pakistan Army has also conducted a successful training launch of the Abdali Weapon System, a surface-to-surface missile with a range of 450 km, saying it was aimed at ensuring the operational readiness of troops and validating key technical parameters. India considers the test launch of the ballistic missile a "blatant" act of "provocation."

Nehru-Gandhi family surrendered Indian interests: BJP slams Rahul

Nehru-Gandhi family surrendered Indian interests: BJP slams Rahul

Rediff.com4 Jun 2025

The Bharatiya Janata Party on Wednesday slammed Rahul Gandhi for his 'surrender' barb at Prime Minister Narendra Modi, saying it is not only a grave insult to the armed forces and country but also no less than treason.

Operation Sindoor Outreach What Did Panda & Co Achieve In West Asia?

Operation Sindoor Outreach What Did Panda & Co Achieve In West Asia?

Rediff.com5 Jun 2025

'It is high time that the 'war on terror' is removed from our diplomatic toolbox.' 'Certainly, our parliamentarians have no role in it,' asserts Ambassador M K Bhadrakumar.

India, China set to resume Mansarovar yatra; agree on flight services

India, China set to resume Mansarovar yatra; agree on flight services

Rediff.com18 Apr 2025

India is preparing to resume the Kailash Mansarovar Yatra, a pilgrimage to Mount Kailash in Tibet, after a three-year hiatus. The decision comes as part of efforts to improve relations between India and China, which have been strained since a military standoff in 2020. The two countries have also agreed in principle to resume flight services between them.

26/11 marked turning point in India-Pak ties: Jaishankar

26/11 marked turning point in India-Pak ties: Jaishankar

Rediff.com15 Apr 2025

External Affairs Minister S Jaishankar said the 2008 Mumbai terror attack marked a turning point in relations with Pakistan when Indians collectively felt that such behaviour from a neighbouring country could no longer be tolerated. Speaking at Charotar University of Science and Technology, Jaishankar acknowledged India's transformation under Prime Minister Narendra Modi over the last decade, while Pakistan has remained unchanged, continuing with what he termed as its "bad habits."

As Scorching Temp Grips India, NDMA Drafts Heatwave Plan

As Scorching Temp Grips India, NDMA Drafts Heatwave Plan

Rediff.com28 Mar 2025

With the summer approaching sooner than scheduled, Maharashtra, Telangana, Odisha, and West Bengal have already started experiencing heat waves with temperatures soaring above 40°C.

'I've No Desire To Be Prime Minister'

'I've No Desire To Be Prime Minister'

Rediff.com4 Jul 2025

'I am not an aspiration-oriented politician.' 'This is the time to redefine politics.' 'Politics of power is not real politics.'

The Indo-Pak Hyphen Became Blurred

The Indo-Pak Hyphen Became Blurred

Rediff.com12 May 2025

'We are too important to want to be paired with Pakistan but too intensely connected to it to successfully detach ourselves,' asserts Aakar Patel.

Economic offenders not to be handcuffed: Parliamentary panel

Economic offenders not to be handcuffed: Parliamentary panel

Rediff.com13 Nov 2023

People taken into custody for economic offences should not be handcuffed and clubbed with those arrested for heinous crimes such as rape and murder, a parliamentary committee has recommended.

Putin to visit India, dates being worked out

Putin to visit India, dates being worked out

Rediff.com27 Mar 2025

Russian Foreign Minister Sergey Lavrov has confirmed that President Vladimir Putin has accepted an invitation from Prime Minister Narendra Modi to visit India. The visit is currently being prepared, though the dates have not yet been revealed. This visit follows Prime Minister Modi's trip to Russia in July 2024, his first since 2019. The two leaders have maintained regular contact and have emphasized the strength of the Russian-Indian strategic partnership.

China calls for 'lasting ceasefire', backs Pakistan

China calls for 'lasting ceasefire', backs Pakistan

Rediff.com21 May 2025

China on Tuesday called for a 'comprehensive and lasting ceasefire' between India and Pakistan, urging both countries to properly handle their differences through dialogue.

Days after Trump's inauguration, Quad's strong message to China

Days after Trump's inauguration, Quad's strong message to China

Rediff.com22 Jan 2025

In a move sending a strong signal to China, foreign ministers from Quad countries -- India, Australia, Japan and the United States -- in a joint statement on Tuesday strongly opposed any unilateral actions that seek to change the status quo by force or coercion.

Countdown Begins To Budget 2025

Countdown Begins To Budget 2025

Rediff.com7 Dec 2024

It will be the second Budget of the Modi 3.0 government and eighth straight Budget for Nirmala Sitharaman, rare in Indian polity.

Remember Smart Cities? What Happened?

Remember Smart Cities? What Happened?

Rediff.com8 Apr 2025

Among the cities that have fully implemented their projects are Agra, Varanasi, Madurai, Coimbatore, Udaipur, Pune, Surat, and Vadodara

Canada FDI has more than doubled since pandemic

Canada FDI has more than doubled since pandemic

Rediff.com23 Oct 2024

Canada's foreign direct investment (FDI) into India doubled after the pandemic years even as India's own investments into Canada show signs of slackening in recent years. The cumulative equity FDI inflows from Canada rose from $1.8 billion in March 2019 to $3.9 billion in March 2024, shows data from the Department for Promotion of Industry and Internal Trade (DPIIT). The overall share is up from 0.42 per cent to 0.57 per cent during the same period, suggesting that Canadian FDI grew faster than overall FDI during this period

'Deeply troubling': MEA on US funds for voting in India

'Deeply troubling': MEA on US funds for voting in India

Rediff.com21 Feb 2025

India on Friday said that the United States' administration's information regarding funding in India is 'deeply troubling' and has led to concerns regarding foreign interference in India's internal affairs.

'We Expect Everyone Will Shift To New Tax Regime Now'

'We Expect Everyone Will Shift To New Tax Regime Now'

Rediff.com2 Feb 2025

'Nearly 10 million people will benefit from the increase in the rebate limit for those earning up to Rs 12 lakh.' 'We expect all that money will come back into the economy in either savings, consumption, or investments.'

India, China draw closer amid Trump's tariff war

India, China draw closer amid Trump's tariff war

Rediff.com9 Apr 2025

Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by 'appropriately' managing differences and enhancing supply chain ties as China's tariff war with the United States escalated.

K'taka Guv forwards 4% Muslim quota bill to President's assent

K'taka Guv forwards 4% Muslim quota bill to President's assent

Rediff.com16 Apr 2025

Karnataka Governor Thaawarchand Gehlot has reserved the Bill pertaining to four percent reservation for Muslims in government contracts for the President's assent, citing constitutional concerns. The Bill, which has been a subject of controversy in Karnataka, was passed by both houses of the state legislature amid protests from the opposition BJP. The Governor's decision to reserve the Bill highlights the ongoing debate over the constitutionality of religious-based reservations in India.

Why Govt Is In No Hurry On Digital Competition Bill

Why Govt Is In No Hurry On Digital Competition Bill

Rediff.com17 Mar 2025

'Indian players in the digital market should not be dominated by global players, and they should not dominate the smaller players -- these discussions are on.'

New York City declares April 14 as Dr BR Ambedkar Day

New York City declares April 14 as Dr BR Ambedkar Day

Rediff.com15 Apr 2025

Deputy Commissioner for the New York City Mayor's Office for International Affairs Dilip Chauhan made the announcement in the presence of Minister of State for Social Justice and Empowerment Dr Ramdas Athawale, who delivered the keynote address at a special event organised at the UN headquarters on Monday to commemorate Dr Ambedkar's 134th birth anniversary.

Yunus to stay on as Bangladesh interim chief, says adviser

Yunus to stay on as Bangladesh interim chief, says adviser

Rediff.com24 May 2025

The chief adviser's decision to stay in office came two days after he told student-led National Citizen Party (NCP) leaders that he was mulling resignation as he felt "the situation is such that he cannot work", citing difficulties in working amid the failure of political parties to find common ground for change.

Waqf bill debate finale to Budget session ending with over 100% productivity

Waqf bill debate finale to Budget session ending with over 100% productivity

Rediff.com4 Apr 2025

Parliament's approval of the Waqf (Amendment) Bill, a contentious piece of legislation aimed at reforming Waqf bodies, has sparked strong reactions from the opposition, who allege that the bill was "bulldozed" through Parliament. The bill, considered the government's most consequential legislation in its third term, was passed with comfortable majorities in both the Lok Sabha and Rajya Sabha despite opposition claims of a lack of consultation and an intrusion into religious affairs. Other notable bills approved during the session included the Finance Bill, Appropriation Bill, Immigration and Foreigners Bill, and Tribhuvan Sahkari University Bill. The session, which saw high productivity, also witnessed debates on issues such as economic distress, delimitation, and the three-language policy. While the government touted its achievements, the opposition criticized the government's approach and vowed to challenge the Waqf bill in court.

India downgrades diplomatic ties with Pak, suspends Indus Water Treaty

India downgrades diplomatic ties with Pak, suspends Indus Water Treaty

Rediff.com24 Apr 2025

The Cabinet Committee on Security (CCS) met on Wednesday under the chairmanship of Prime Minister Narendra Modi and firmed up the responses to the terror attack.

US Vice Prez Vance, NSA Waltz to visit India on April 21 amid tariff war

US Vice Prez Vance, NSA Waltz to visit India on April 21 amid tariff war

Rediff.com12 Apr 2025

US Vice President J D Vance and National Security Adviser Michael Waltz are scheduled to visit India on April 21, reflecting Washington's focus on strengthening its relationship with India amidst global concerns over President Donald Trump's tariff policy. Vance's visit is likely to be more of a private trip, while Waltz's visit will be a business trip with discussions on security in the Indo-Pacific region, high technology, critical minerals, and export controls. Both are expected to meet Prime Minister Narendra Modi before his trip to Saudi Arabia. The visits come in the wake of Trump's recent pause on tariffs on all countries except China, following widespread economic concerns.

ED searches Soros' funding agency, investment arm in Bengaluru

ED searches Soros' funding agency, investment arm in Bengaluru

Rediff.com18 Mar 2025

Soros, a Hungarian-American political activist, and his organisations like OSF have been accused by the ruling BJP of acting against India's interests. His utterances during the Adani-Hindenburg controversy also drew criticism from the party.