The Union Budget's focus on capital expenditure is expected to crowd-in private investment and push the GDP growth rate close to 7 per cent in the next financial year beginning April 1, said a Reserve Bank article on 'State of the Economy'. In 2023-24, capital expenditure is budgeted at Rs 10 lakh crore which will constitute 3.3 per cent of GDP. "We believe that India will decouple from macroeconomic projections of current vintage and also from the rest of the world.
'A fragile Sri Lanka will have a serious impact on the security of India.'
Dhananjaya Y Chandrachud, however, had no qualms about overturning the judgements of father Y V Chandrachud on hot- button issues like adultery and the right to privacy.
Union Minister of State for Home Nityanand Rai also said that the central government has not enumerated caste-wise population other than SCs and STs in census since Independence.
Whether it is Sri Lanka, Maldives, or Nepal, quietly but steadily, India has been reclaiming some of the ground it had lost to China, observes Aditi Phadnis.
During the day-long debate, the lines between science and religion often got blurred with many invoking religious texts and the contribution of 'rishi munis' to highlight India's tryst with the extra-terrestrial world.
'Though federal, the Constitution is unitary in nature. All matters relating to revenue are centralised. It is necessary that matters related to finance have to be decentralised... States need more freedom in designing schemes with their interest in mind. There has to be a Constitutional amendment to give more powers to the states. A special session of Parliament should amend the Constitution, especially the 7th Schedule,' Kerala Finance Minister K M Mani tells Rediff.com's Shobha Warrier.
Hotel companies, which have experienced substantial share price gains in the past six months, are not only expected to post robust revenue growth in the seasonally weak July-September quarter (second quarter, or Q2) of 2023-24 (FY24), with the trend continuing in the second half (H2) of FY24, but according to some analysts, they will also benefit from a structural uptrend in progress. To begin with, larger players in the listed hotel sector are expected to report strong growth in Q2 compared to the year-ago quarter. Led by higher demand from the business segment, the sector is expected to achieve a growth rate of 15-30 per cent.
Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) made a strong comeback in the first quarter of FY23 as Indians increased spending on international travel, maintenance of close relatives, and gifts. The latest data for Q1FY23 released by the RBI shows that remittance by Indians under the scheme jumped 64.75 per cent to over $6.04 billion from $3.67 billion in Q1FY22. The amount remitted in Q1FY23 is even higher than that in Q4FY22, where outward remittance under LRS was to the tune of $5.8 billion. In April, about $2.02 billion was remitted, followed by $2.03 billion in May, and $1.98 billion in June, data released by RBI in the August bulletin shows.
The Congress is planning to call a meeting of Opposition parties in May. It is possible to keep all possibilities open in case Karnataka yields a hung House, leading to a recalibrated Opposition.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Maruti will launch its first electric vehicle (EV) in the next financial year (FY24), and will roll out six EVs in the country by FY30, the automaker's parent firm Suzuki said on Thursday.
Reiterating the need for 'Bharat Jodo Yatra', Congress MP and party general secretary (communications) Jairam Ramesh said there's lurking danger of breaking 'Bharat' due to the discriminative policies of the Modi government and therefore there is a need of Bharat Jodo led by Rahul Gandhi.
The controversial interaction took place on Thursday when Rahul began taking questions from the audience.
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
'...it gets a survey report that they are going to lose elections.' 'The fear of losing elections will make them immediately conduct a caste census.'
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
Justice Chandrachud will serve as the CJI for two years till November 10, 2024.
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
'If Asia does become a Chinese dominated space, it will not only be because India failed to get its economic act together but also because it did not stand up for its democratic credentials,' warns Shyam Saran, the former foreign secretary.
'The upper caste elite's belief that they are casteless is a belief that is available only to the upper castes. Because all the lower castes are reminded by society every day what their caste is.'
In a big win for the Narendra Modi government, the Supreme Court in a 4:1 majority verdict on Monday gave its stamp of approval to the Centre's 2016 decision to demonetise the Rs 1,000 and Rs 500 denomination currency notes, saying the decision-making process was neither flawed nor hasty.
'The Emergency was a temporary affair. It was withdrawn after 20 months.' 'But we are in this situation for the last 10 years.' 'If the Emergency was jhatka, this is halal, slow killing.'
Just 4.6 per cent of all rural households in the country pay income tax while such households with salaried income are close to 10 per cent, the first socio economic and caste census released in eight decades said.
The rate of unemployment was the highest in the urban areas, which constitute the most number of red zones due to the COVID-19 cases, at 29.22 per cent, as against 26.69 per cent for the rural areas.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
There is no dearth of political will today to act against corruption and officers should take action against the corrupt, however powerful, without any hesitation, Prime Minister Narendra Modi said on Monday.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
In terms of stock selection, India continues to benefit from two phenomena - the big getting bigger and availability of quality stocks in relative abundance compared with its Asian peers.
A three-judge bench headed by Chief Justice Justice (CJI) Sharad Arvind Bobde said that a larger bench will decide the pleas filed by 35 petitioners challenging Centre's decision.
'UCC should be across India and legally applicable to every Indian citizen.'
The rally in silver may continue if the global economic recovery remains on course.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
Pratinav Anil is able to foresee some agency and assertion on the part of India's Muslims. His hope emanates from the citizenship rights movement of Muslims in 2019-2020, notes Mohammad Sajjad.
India has expressed concern that foreign fighters involved in the conflict in Syria have moved to other places as mercenaries, as New Delhi underlined that it is ready to play a constructive role in the Security Council to help realise the objective of the West Asian country reclaiming its place in the comity of nations.
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
'Had it not been for the complicity of the state and Biren Singh's leadership, these riots would not have spread this far and for so long.'
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
The Supreme Court on Thursday lamented that nobody was taking action against hate speeches despite its orders, and observed that the top court will be left "embarrassed again and again" if it is asked to give further directions to curb such statements.
