The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
The Akhil Bharatiya Vanavasi Kalyan Ashram organisation, which works for the welfare of 10 crore Scheduled Tribes in the country, in its national executive committee at Howrah took a resolution to address the issue of bonded labour in India.
As he projected a grim outlook for the economy, RBI Governor said that amidst this encircling gloom, agriculture and allied activities have provided a beacon of hope on the back of an increase of 3.7 per cent in foodgrains production to a new record.
For the first time, the value of card and mobile payments of Rs 10.57 trillion was more than ATM withdrawals of Rs 9.12 trillion in Q4 of fiscal 2019-20. In the months of lockdown, the gap may have widened further, but cash could be back in vogue when the situation normalises.
The Joint Parliamentary Committee has given a clean chit to Prime Minister Manmohan Singh on 2G spectrum allocation, saying he was "misled" by the then Telecom Minister A Raja whose assurances stood "belied".
The Centre on Monday earmarked a separate Rs 2,217 crore for 42 urban centres to tackle air pollution and announced the much-awaited voluntary vehicle scrapping policy to phase out old and polluting vehicles, even as it shrunk the budgetary allocation for the environment ministry from the last fiscal by nearly eight percent. Union Finance Minister Nirmala Sitharaman, in her budget speech for 2021-22, announced a total of Rs 2869.93 crore for the ministry, Rs 230 crore less than the last fiscal. Officials said the outlay has been lesser this time as the economy is recovering from the COVID-19 pandemic.
The Centre is likely to cut budgetary support to the railways by around Rs 5,000-10,000 crore for 2018-19, out of the total budgeted GBS of Rs 53,060 crore. Due to this cut in GBS, the railways is likely to depend more on borrowings, asset monetisation, and internal generation to meet the capex target of Rs 1.465 trillion for the current year.
The flame for the 2016 Olympic Games in Rio de Janeiro will pass through a refugee camp in Athens and one refugee will be among the torch bearers, the head of the International Olympic Committee said on Thursday.
The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
'There will be more than three to four lakh tractors and farmers, four to five times that number, displaying their resolve in front of a deaf, mute and a government blind to their plight.'
Vegetable arrivals at mandis, especially in Maharashtra, have declined by more than 50 per cent since the beginning of the month.
Work is also progressing on 17 strategic highway-cum-airstrips, three of which have been completed, he said. Besides, work is on in full swing on the Rs 12,000 crore ambitious Chardham project for providing all-weather connectivity to Gangotri, Kedarnath, Yamunotri and Badrinath.
The bullet train is expected to cover 508 km between Mumbai and Ahmedabad in about two hours.
How China's all powerful Communist party bungled the response to the coronavirus crisis.
The BrahMos systems for the two ships are estimated to cost Rs 25 billion, making it the world's most expensive anti-ship missile.
Modi urged the country to show patience during the vaccination drive as it had shown till now in fighting the pandemic.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
The US is not going to be able to mount a concerted 'Western strategy' against China or Russia in the present international milieu, predicts Ambassador M K Bhadrakumar.
Normally, kharif sowing of vegetable seeds starts during the first week of May across the country. Farmers start preparing their fields to make them suitable for kharif sowing during the second fortnight of April. Now, however, faced with the lockdown, farmers are in a hurry to clear their fields of rabi crop and prepare for kharif planting. With a normal monsoon forecast this year, they are doing all they can to take advantage of pre-monsoon showers.
Kerala has seen one of the worst floods in its history during this monsoon. From August 8 to 20, nearly 223 people have lost their lives, 33 are missing and around 1.2 million individuals from 3,02,441 families are in 3,941 relief camps. Initial losses are estimated to be around Rs 200 billion (Rs 20,000 crore). With the rescue measures in its last leg, the Kerala government is looking at raising funds to rebuild the state. In an interaction with Gireesh Babu and T E Narasimhan, Kerala Finance Minister T M Thomas Isaac says he has a three-pronged strategy to raise funds. Edited Excerpts.
But it may come with a downside risk of further rise in prices of several products.
Entrusted with the responsibility of tightening regulation and supervision in global banks that suffered huge losses - now estimated at over $1 trillion -- during the last one year, the Basel Committee on Banking Supervision has embarked on a series of measures to ensure proper regulation within banks. It has suggested forward-looking risk assessment by banks to avoid financial crises in future.
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
A summary of sports events and sports persons, who made news on Thursday.
Diversified group ITC will sell its entire stake in US-based wholly owned subsidiary 'King Maker Marketing' for USD 24 million (about Rs 160 crore).
Over five crore subscribers of the retirement fund body EPFO are likely to get 8.5 per cent return on their investment during 2012-13, higher than 8.25 per cent paid in the previous fiscal.
Wants to unlock idle gold in households.
'The roadmap ahead seems very difficult especially in the rural areas where there is very poor infrastructure, vaccine reach and hesitancy.' 'These are a deadly cocktail for the next wave.'
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
Centre is to allocate Rs 1,000 crore for Tamil Nadu from the Pradhan Mantri Gramin Sadak Yojana to lay roads in interiors of more than 1,000 kms connecting villages to main towns.
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
While the session will begin with the President's address to the joint sitting of the two Houses, the same day the pre-budget economic survey will be tabled.
In a new twist to the AgustaWestland VVIP helicopter scandal, it has now come to light that the helicopter design and manufacturing company never returned the full down payment made by the Indian authorities for procuring the 12 choppers.
Two parliamentary panels have castigated the government over the precarious health of Air India, with one of them saying "unscrupulous and vested interests" had worked overtime to "suck the life out" of the national carrier.
With neither partner seemingly willing to consider scrapping the event as the coronavirus pandemic continues to wreak havoc globally, we consider the options available, and possible scenarios:
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The 25-year production sharing contract, however, ends in 2029.
Sugar prices in October were Rs 36-37 a kg, from where they fell by Rs 8-9 per kg.
The warning by the anti-trust watchdog has come days ahead of Amazon founder Jeff Bezos' India visit, about which the Seattle-headquartered company has been tight-lipped. Sources in the know indicated that Bezos, coming on a short trip, has sought a meeting with Prime Minister Narendra Modi.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
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