A BJP source admitted that a census will inevitably reconfirm the numerical majority of the OBCs. 'That will overturn social equations and consign the upper castes to a twilight zone of marginalisation. The RSS won't accept it.' Radhika Ramaseshan reports.
Growth in India will pick up from current levels, says LEO Puri, managing mirector, UTI Asset Management Company.
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
Subbarao said, short-term as well as medium-term prospects or Indian economy continue to be grim. Fiscal deficit is going to be much higher, the debt burden much larger and the financial sector will be in a worse shape.
Even the Central Statistical Office has started using GDP as the main measure of economic activities since January 15 this year
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
'Laws have been used in a way to serve the needs of the current regime and its authoritarian ideology.'
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
In its latest monetary policy report released recently, RBI had said credit growth is likely to remain modest, reflecting weak demand and risk aversion due to the disruptions caused by the coronavirus pandemic.
The prime minister was apparently referring to Swedish environmentalist Greta Thunberg's controversial 'toolkit', which she tweeted and then deleted, outlining ways in which people can participate in the farmers protest.
"The Serum Institute of India (SII) has informed the state government that it can supply the 'Covishield' vaccine only after May 20," Maharashtra Health Minister Rajesh Tope said.
His 7-day long trip to the United States starts on June 17.
Chinese hubris and the slippery slope it finds itself on have important lessons for authoritarian leaders elsewhere, including in India, observes Colonel Anil A Athale (retd).
A host of dynamic reforms, policies and announcements during the last five years are expected to reach its logical fruition in the second term, says Ankit Kansal.
India's rupee is likely to remain under pressure due to high prices of crude oil and other commodities, and may stabilise at around 79-80 against the US dollar in the near term, say experts amid limited headroom available with the Reserve Bank to check the weakening of the domestic currency. The currency has slumped over 5 per cent this year after Russia's invasion of Ukraine sent international crude oil prices soaring to a decade high. On Monday, rupee ended at a fresh all-time low of 78.34 (provisional) against the US dollar.
Governments that do not respect central banks' independence will sooner or later incur the wrath of the financial markets, ignite economic fires, and come to rue the day they undermined an important regulatory institution; their wiser counterparts who invest in central bank independence will enjoy lower costs of borrowing, the love of international investors, and longer life spans, said Acharya, who will return to the New York University's Stern Business School in August.
'The idea is to have a separate and independent consultation on non-personal data, and decide the contours of how it should be regulated, whether as guidelines, rules, or a separate policy,' said a senior official at MeitY.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
With EU, it is part of the FTA that we will need to negotiate.
India and Pakistan must reform their institutions of governance to accelerate economic growth on a sustained basis for poverty reduction, lawmakers and experts from both the countries attending a meeting in Dubai said notwithstanding the chill in bilateral ties.
'He (Modi) has spoken of being a prime minister for all Indians but he...presides over and has mostly been silent in the face of widespread communal violence, mob lynching and cow vigilantism'
Nomura Group Study found that in 2019, out of the fifty-six companies which shifted their production out of China, only three of these invested in India; while 26 went to Vietnam, 11 to Taiwan, and 08 to Thailand. In April 2020, Nikkei noted that out of the 1,000 firms which were planning to leave China and invest in Asian countries, only 300 of them were seriously thinking of investing in India.
From the pandemic shocks to state polls to global trends, a raft of sentiment drivers are expected to steer the Indian stock market in 2022 after a historic year of massive investor returns and milestones. The Union Budget, which will be closely watched for further reform moves, and quarterly earnings of corporates will be among the developments on investors' radar amid global central banks moving towards tighter interest regime in the wake of inflationary pressures. The year 2021 was rewarding in a big way for equity investors.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
The US has been, historically, a sleeping partner in India-China relations. Today, any attempt by the Modi government to make a bilateral move to improve relations with Beijing could upset Biden's apple cart, notes Ambassador M K Bhadrakumar.
The assurance comes as India's Covid graph dips -- on Friday 1,109 new coronavirus infections were reported -- and also one case of a new Covid strain in Mumbai.
Observing that India's worsening COVID-19 situation and the strict measures to contain it have hit the economy hard, the rating agency said productive capacity has been severely disrupted since the start of the pandemic.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
'India resembles not just the more turbulent bits of its own past, but other 'managed' democracies, where all institutional strength and independence have been hollowed out to serve political power,' notes Mihir S Sharma.
The announcement comes as a big relief to international students, including those from India.
National Security Advisor Ajit Doval on Thursday called for seamless coordination among various agencies involved in protecting India's maritime interests in the face of emerging security challenges and increasing rivalries and competitions in the Indian Ocean.
In a festival gift to borrowers, the finance ministry on Wednesday approved guidelines for a scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months of loans up to Rs 2 crore.
'From the very start, PM Modi was insistent that visiting foreign leaders should be exposed to an India beyond its capital.' 'Through these experiences, he felt that the full Indian narrative would be much better understood across the world,' explains External Affairs Minister S Jaishankar. A riveting excerpt from Bluekraft Digital Foundation's Modi@20: Dreams Meet Delivery.
Mr Swamy has written letters to the Prime Minister's Office asking for Mr Rajan's services to be terminated.
The lawsuit seeks an injunction to stop the entire rule from going into effect.
You may be popular initially because of politics and ideology but if the economy slows down, you will be losing your popularity: Nouriel Roubini.
It is time to shrug off the ideological shackles about the way we work, play and live, says Ajit Balakrishnan.
Several speakers noted that Budget carried the weight of expectations.
Measures that quickly boost demand and increase employment are needed to push up growth. Moreover, without announcing new planss, the government should strengthen schemes such as PM KISAN, MNREGA and programmes to build rural roads.
Chinese Foreign Minister Wang Yi, during his telephonic conversation with US Secretary of State Antony Blinken on Sunday, discussed the deteriorating situation in Afghanistan amidst chaotic airlifts of Afghan civilians and diplomats by the US and North Atlantic Treaty Organisation countries before the August 31 deadline.
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