Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
RBI rate cut is a welcome step for all citizens of India as everyone is looking for near-term boost in economy.
According to state officials, the project envisages lifting of 17.40 thousand million cubic feet of water from river Thunga to Bhadra reservoir and 29.90 TMC from Bhadra reservoir.
In 2013, India suffered its worst currency crisis in more than two decades but has regained the confidence of foreign investors in part after its current account deficit has narrowed sharply and its foreign exchange reserves hit a record high
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
The real risk is that the core assumption -- that the votes for a candidate sponsored by an alliance will at least equal the sum total of its parts -- proves to be facile, observes T N Ninan.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
N R Narayana Murthy, co-founder of Infosys, blamed the venture capitalist community for inculcating a culture among entrepreneurs to chase growth at all costs. He said the VC model of investment looked like a ponzi scheme. "I would hold venture capitalists responsible who propounded the theory that only the top-line is important and not the bottom-line. "I think that is completely wrong. In many ways it looks like a ponzi scheme.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
British Prime Minister Rishi Sunak on Monday unveiled a new scheme for the world's 100 most talented young professionals in the field of artificial intelligence (AI) as part of his vision to make the UK a "beacon" to attract the "brightest and best" from around the world. Addressing the Confederation of British Industry (CBI) annual conference in Birmingham, Sunak told an audience of business chiefs and professionals that control over the country's post-Brexit immigration policy remains crucial. However, he pledged to create "one of the world's most attractive visa regimes for entrepreneurs and highly skilled people" and make use of the "Brexit freedoms" to strike trade deals with "the world's fastest-growing economies".
Even as India strives to climb the development mountain, the fact is that the mountaintop is already crowded. If it got there in 2047, India would be very much a late-comer, observes T N Ninan.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government was in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs. There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
Wrapping up his four-day state visit to the US, Prime Minister Narendra Modi on Friday asserted that a new and proud journey of India-US ties has begun and the world is watching the two great democracies strengthening their bond.
India has remained obsessed with cheap capital and infrastructure spending when instead the central constraint on Indian development remains the abysmal quality of Indians' skills, says Mihir Sharma.
Modi said there were a slew of 'matching priorities' between the business council and that of his administration, including dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
The boom in organised retail will set the tone for major economic overhaul. The ripple effect will be improved supply chains, volume output, integration into global commerce, and higher tax collection, notes T N Ninan.
Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government's infrastructure creation push, which will give significant margin expansion. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country.
In the United States, economic data is likely to take a back seat next week.
With a 50 per cent increase in the last four years, Madhya Pradesh has the maximum number (785) of tigers in the country, followed by Karnataka (563), Uttarakhand (560), and Maharashtra (444), according to the data.
Three-quarters into the 10 years that Mr Modi had sought for transforming India, the 'output' numbers look impressive, but the key 'outcome' numbers don't show up much, if at all, observes T N Ninan.
'I feel that since they know the problems, in the next 2 to 3 quarters, these problems could be resolved.' 'But they should realise that things are not working well right now.'demonetisation did not have a huge negative impact on the economy. But when it comes to GST, those who are looking for loopholes find it difficult to adapt.
Electricity generation has outperformed the industrial production index for five months in a row this financial year, even as the broader economy is struggling to grow.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
Here are the key numbers to watch out for in the Budget for 2022-23, which is widely expected to boost spending towards policies that create jobs, boost manufacturing, helping rural and agri-economy and infrastructure creation. Sitharaman, who had in her first budget in 2019 replaced leather briefcase -- which had been in use for decades for carrying budget documents -- with a traditional red cloth 'bahi-khata', has spurt in tax collections to her aid in the budget that is expected to a spend-all budget.
'It's vital that over the next 10 years, that India, the US and the Artemis Accords family of nations come together to ensure that we not only return humanity to the moon, but that we build the technology that will allow us stay there permanently.' 'And then go on to Mars.'
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
Jaitley promised higher investment in roads and railways.
My sense is that we are in a situation similar to 2011-13, notes Debashis Basu.
Much on the expected lines, Beijing reacted angrily to Hands' visit, saying that it violates the one-China principle to which London is a signatory.
GST collections touched a record of Rs 1.40 lakh crore in January on rapid economic recovery, Finance Minister Nirmala Sitharaman said on Tuesday. In her 2022-23 Budget speech, the minister said there has been a remarkable progress made in the Goods and Services Tax (GST) regime, but still a few challenges remain. "Gross GST collection in January at record Rs 1,40,986 crores; this has been possible due to rapid economic recovery," she said while presenting the Budget in the Lok Sabha. January is the seventh straight month when the GST collection has crossed the Rs 1 lakh crore mark.
Finance Minister Nirmala Sitharaman is scheduled to address the post-budget meeting of the RBI's central board on Monday and highlight key points of the Union Budget 2022-23, including the fiscal consolidation roadmap and high capex plan. It has been a custom that the finance minister addresses the RBI board, consisting of RBI Governor and existing four deputy governors, after the Budget. The meeting has been scheduled for February 14 where she would be addressing the board members and talk about announcements made in the Budget to perk up growth hit by three waves of COVID-19, sources said.
Microsoft India on Tuesday said it has collaborated with Invest India to support tech startups in the country. As part of the partnership, the Microsoft for Startups programme will work closely with Accelerating Growth of New India's Innovations (AGNIi Mission) - a programme of the Office of the Principal Scientific Adviser to the Government of India, a statement said. Housed and executed by Invest India, AGNIi Mission helps startups become enterprise-ready.
The GDP growth fell to a nine-year low of 5.3 per cent in the first quarter, down from 9.2 per cent the same time last year.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
Though the outcome of the general elections will offer a short-term boost to the market, a sustained rally will be determined by the economic data, according to a JP Morgan Asset Management report.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances