If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
Tokyo 2020 organisers held an earthquake drill on Thursday at Ariake Gymnastics Centre, a newly built venue for next year's Olympics, to test their readiness
Pakistan will buy sugar and cotton from India, newly appointed Finance Minister Hammad Azhar announced on Wednesday, lifting a ban on their import from the neighbouring country imposed in the wake of heightened tension over Kashmir in 2019. The decision was taken at the meeting of the economic coordination committee (ECC), which was chaired by Finance Minister Azhar.
Over two lakh posts are estimated to be created by the Central government in its various departments.
However, the RBI is still not in a mood to issue an OMO calendar, which was the expectation in some sections of the market.
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
The vaccine arrives at a critical moment for the US. Hospitalisations due to COVID-19 hit record highs for the seventh day in a row on Saturday.
Addressing a virtual Downing Street press conference, Boris Johnson acknowledged the divided views on lifting all lockdown restrictions to declare that his update does not imply that the pandemic "is over".
The downward surprise in Q2 stemmed from a stronger-than-anticipated drag from gross fixed capital formation and marginal weakness in private final consumption expenditure. In Q3, projection errors emanated mainly from a steep unanticipated contraction in gross fixed capital formation, which was the deepest in the new series of GDP.
The Planning Commission in May 2012 had constituted the expert group under the then Prime Minister's Economic Advisory Council Chairman C Rangarajan to review the Tendulkar Committee methodology for estimating poverty, following an uproar over the number of poor in the country.
India grew at 7.6% in 2015-16 and at 7.2% in 2014-15.
Moreover, the absence of a liquid market for various types of assets also makes such estimation inappropriate, it said. One of the terms of reference of the committee was to examine if corporate saving estimation should be done on an MTM basis. MTM refers to the present value of assets based on their market prices.
The Committee, which has been set up in pursuance of the announcement made by the Minister in his Budget speech, will also suggest whether the unclaimed deposit should come to government or be kept in a separate account.
'Sullivan and Jaishankar welcomed the cooperation in recent weeks that resulted in deliveries of over USD 500 million in COVID-19 relief supplies from the US federal and state governments, US companies and private citizens across America for the people of India'
In power, Mamata Banerjee has tried to bury the ghost of the past, but it might still be work-in-progress. Big-ticket and eye-grabbing (in terms of investment size) projects are still few and far between, reports Ishita Ayan Dutt.
The delivery of the Tejas Light Combat Aircraft (LCA) to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 and around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets, Chairman and Managing Director of Hindustan Aeronautics Limited R Madhavan said on Sunday.
The new numbers clearly had very different implications.
The decision to procure the fleet was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi, Defence Minister Rajnath Singh said.
The additional cash will now give the Centre more headroom for stimulating the economy.
US Secretary of State Antony Blinken was asked by US Congressmen if the US had explore the possibility of northwest India for counter terrorism capabilities in Afghanistan. Blinken's remarks on India assume great importance, observes Ambassador M K Bhadrakumar
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Many analysts over the past week have said the RBI has legroom to cut rates to the tune of 65 bps by June and some like Barclays and BofA have also spoken about the likelihood of an inter-meeting cut.
The Central Vista revamp, announced in September, 2019 envisages a new triangular Parliament building, with seating capacity for 900 to 1,200 MPs, that is to be constructed by August, 2022 when the country will be celebrating its 75th Independence Day.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
'The CBI should be bifurcated and the CBI's charter should be restricted to anti-corruption cases.'
'The investigation of major criminal cases having national and international implications, and national crimes spread over more than one state may be entrusted to a new national crime bureau,' recommends Dr Madhav Godbole, the former home secretary.
Projects worth Rs 500 crore and above and up to Rs 1,000 crore can be cleared by the Finance Minister.
Unlike the earlier experience post the global financial crisis, where nearly 90 per cent of the restructuring happened in the corporate loans, the non-corporate segment, which includes small businesses, agricultural loans and retail lending, will account for a higher share this time.
Focus on inflation, higher CPI projection dampen bond market mood.
The new variant is said to be 70 per cent more transmissible, though health experts say there is no evidence that it is more deadly or would react differently to vaccines.
Official sources said talks were underway to wrap up negotiations on procurement of a missile defence system by India from the US for $1.86 billion.
RBI Governor Raghuram Rajan has noted the contradiction.
With the Lodha Committee seeking direction from the Supreme Court on appointment of former Union Home Secretary GK Pillai as observer to "guide" BCCI, the top brass of the board are unaware as to how the process of awarding nearly 100 pending tenders will be carried out.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
Cricketer-turned-politician Gautam Gambhir on Thursday said he will contribute his two years' salary as an MP to the Prime Minister-CARES fund to tackle the coronavirus pandemic sweeping through the country. The BJP's Lok Sabha member from East Delhi made the announcement on his Twitter page, urging people to come forward and donate generously.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
Summary of sports events and persons who made news on Friday
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
The Tokyo Olympics next July will be a "uniquely risky" event, demanding flexibility from organisers amid the uncertainty of the coronavirus pandemic, particularly if a vaccine has not been rolled out by then, medical experts say. Japan and the International Olympic Committee made the unprecedented decision last month to delay the Games for a year, as the world battles the virus that has infected 2.3 million people and killed more than 150,000 globally. But questions persist whether the Games can go ahead 15 months from now, as a vaccine could still be at least a year away, according to the most optimistic estimates.
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
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