Modi thanked his Australian counterpart for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney.
Gadkari said, infrastructure sector including highways, airports, inland waterways, railways, logistic parks, broad gauge and metro, apart from MSMEs can attract large scale foreign investment.
US interest rate normalisation policy is likely to keep global FX markets volatile.
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The government on Tuesday announced a host of measures to tame inflation, which had soared to a five-month high of 6.01 per cent in May.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
Hiring for management professionals with greater than 16 years of experience witnessed a spike of 66% compared to last year.
Investors and companies should brace for higher commodity prices over the next few weeks in the backdrop of Russian troops attacking Ukraine on Thursday. Meanwhile, US President Joe Biden threatened new sanctions against Russia for an act of aggression against Ukraine. All this, analysts believe, can push prices of key commodities such as crude oil, ammonia, urea, potash, and phosphates higher.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
Banks cannot shirk their responsibility in cases of frauds.
South Korean President Park Geun-hye's visit to India will enhance economic and military ties between the two countries and give the relationship a strategic dimension, says Jiye Kim.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
In a tough action, the Government on Thursday barred Greenpeace India from receiving foreign funds with immediate effect by suspending its licence for six months and froze all its accounts, alleging it has "prejudicially" affected the country's public and economic interests.
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
Thanks to rupee depreciation, India has a chance to fundamentally rework its stifled manufacturing sector.
A team of National Human Rights Commission (NHRC) on Friday held on-spot inquiries in Sandeshkhali to ascertain facts about alleged sexual abuse by some Trinamool Congress leaders even as fresh agitation rocked the trouble-torn village, where locals torched the property of accused Trinamool leaders and held demonstrations against the delay in arresting the main accused, Shahjahan Sheikh.
Economic recovery is well under way in some advanced economies.
India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.
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.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
After navigating the turbulent pandemic waves, the recovering Indian economy is now sailing through unchartered waters of rising coronavirus cases, spiralling commodity prices and spiking inflation though the lighthouse of sustainable growth remains visible. As 2022 begins, a raft of developments, ranging from Budgetary announcements to continuation of stimulus measures to monetary policy, will set the tone for the domestic economy, which is projected to grow more than 9 per cent in the current fiscal ending March 2022. The country's continuing massive vaccination drive and 'precaution' doses starting for select categories of people this month will provide a firewall against any steep spike in coronavirus cases amid the emergence of the Omicron variant.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
Reduce the government stake in public sector banks to 33 per cent, recommends A K Bhattacharya
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation.
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
The much-delayed Foreign Trade Policy (FTP), which will roll out steps to boost exports, is expected to be unveiled soon.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
An online system generates import-export code.
Moody's Investors Service on Tuesday lowered India's GDP growth forecast for the 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy. Moody's had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier forecast.
If a holiday, banks will have to report the details on the next working day.
Lack of political consensus on economic reforms a key concern.
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
The rupee had edged higher by four paise to end at 61.51 against the American currency in yesterday's trade on fresh selling of dollars by banks and exporters.
