RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
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The agency had "almost finished" its probe into the matter, which involved Dravida Munnetra Kazhagam leader and former telecom minister Dayanidhi Maran, an official said.
In the last budget, then finance minister Arun Jaitley had allocated Rs 85,010 crore for the education sector which was later revised to Rs 83,625.86 crore.
Sitharaman said the government will bring in a new national education policy to transform India's higher education system into one of the best in the world.
It's time the government accepts that Digital India is too distant.
Digital campaigns compared to billboards or even print ads not only have the power to reach wider audiences but also reduce the campaign costs. The focus on social media by political parties at election time, therefore, is hardly misplaced.
Like China, India needs to encourage 'hacker clubs' in view of the challenges of virtual terrorism, says Lieutenant General Prakash Katoch (retd)
Outlining the Budget estimates for the coming year, the Railway Minister Suresh Prabhu put the plan size at Rs 1.21 lakh crore.
The government is looking at building by-laws and floor area ratio so that you can build up instead of out, thus requiring less land.
From college intake to visa guidelines, here's everything you'll need to know before signing up for a course in New Zealand.
In India, 173 people defecate in the open for every square km.
Any NGO critical of the government is unlikely to receive a green signal. The new amendment will leave NGOs vulnerable to harassment. It was the NGO sector that helped provide compassion and food to millions of people during the lockdown. The new Bill will render such cooperation and camaraderie impossible in future, observes Rashme Sehgal.
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
The way the present government has dealt with appointments of civil servants remains to be a cause for concern.
A security guard has been arrested in connection with the brutal rape and murder of a woman in Mohanlalganj area of Lucknow, a senior police official said on Sunday.
'The Indian state is very benevolent when it comes to corporates,' says Tom Thomas, chief executive officer of Praxis, and convenor of CRW India.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
Estimates suggest subsidy outgo on these proposals would be at least Rs 1,000 crore
Indian economy about to take-off
'We have promised to ensure reduced tax rates.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
'We have integrated start-up space created in almost all the 14 district headquarters of the state.'
'They have incubation facilities providing entrepreneurs common facilities like shared software, legal support, fab labs, hardware, manufacturing facilities and services like chartered accounting facilities, etc, enabling the start-ups to concentrate on technology R&D and product development.'
Whether history will remember Edward Snowden as a traitor to his country or as a champion for free speech and less intrusive government is hard to tell, but the issues he has brought into focus need deep thought, writes Ajit Balakrishnan
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
Sanjeev Nayar offers some ideas on how Indians can help in improving the lives of those living in border areas and in the process help the Indian Army.
The Insurance penetration in India is very low at 3.9 per cent.
Simple takeaways from the Union Budget 2015-16 and how it impacts your life
If money allocations, investment commitments are a sign of better things to come, the state can be optimistic.
Sharif raises Kashmir issue at UNGA, renews plebiscite demand.
'Biometric Aadhaar-based surveillance is not only about violation of privacy, but also about the treasure hunt for unprecedented financial surveillance and economic intelligence in the economic history of mankind,' asks Gopal Krishna.
Many things could play spoilsport for the Indian economy.
Excerpts from Prime Minister Narendra Modi's speech at the Combined Commanders Conference on board the INS Vikramaditya at sea, off the coast of Kochi.
Prime Minister Narendra Modi on Wednesday "strongly disapproved" incidents of vandalism of statues in certain parts of the country and spoke to Home Minister Rajnath Singh on the matter.
Being a student means a lot of things, not only grades, says overseas consultant NNS Chandra, in his advice to readers.
'You cannot judge a government within a month. Give us five years' time.' 'At times, strict economic decisions have to be made for the good of the poor in the long run.' Dharmendra Pradhan, one of the Modi government's stars, speaks exclusively to Sheela Bhatt/Rediff.com about why the government is forced to roll out 'bitter medicine.'
'India is no longer the India of the '70s and the '80s.' 'It's a large country with the fastest growing economy.' 'In working with India, you just can't go and humiliate the nation publicly.' USIBC President Mukesh Aghi tells Aziz Haniffa/Rediff.com about how he advises American companies to do business with India, what he thinks of Modi's government and the way forward for the India-US relationship.
