A day ahead of a crucial G20 meeting, External Affairs Minister S Jaishankar on Wednesday evening hosted a welcome dinner for the foreign ministers attending the deliberations but the reception was missed by his counterparts from the US, China, Germany and France.
The production of eight infrastructure sectors rose by 7.5 per cent in October on healthy performance by the segments of coal, natural gas, refinery products and cement, official data released on Tuesday showed. The output of eight core sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 0.5 per cent in October 2020, according to the data released by the commerce and industry ministry. Core sectors' growth stood at 4.5 per cent in September this year.
A sumptuous meal of Dal, Bati, Churma or Jodhpuri Kabuli pulao, followed by a lip-smacking dessert of Bikaneri ghevar or Jodhpuri mawa kachauri.
The US President also underlined that both countries "will advance sustainable and inclusive growth while tackling shared challenges like the climate, energy, and food crises."
The state's revenue receipts might not afford various freebies announced by the parties, unless revenue deficit and hence fiscal deficit is widened.
India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
India is keen to strengthen its partnership with Russia on Arctic subjects and there is immense scope for cooperation in the field of energy as well, Prime Minister Narendra Modi said.
If the corruption issue doesn't claim Mr Baghel, the Congress's chances in the assembly election later this year are good, observes Aditi Phadnis.
The change of heart in the US and India was propelled by the increased threat of China to both countries, explains Ambassador T P Sreenivasan.
Union finance secretary T V Somanathan recently said the Centre had saved Rs 10,000 crore in FY22 on interest payments after adopting new accounting mechanisms for central government agencies and centrally sponsored schemes (CSS) for state governments. Speaking at an event, Somanathan said due to these, there was an unspent balance of Rs 1.2 trillion with state agencies from CSS as on March 31, 2022. This means this amount will be reduced from the Centre's borrowing for now and it can be considered a short-term saving for the exchequer.
A curious, inventive school student is among the 1200 international students whose science project has made the cut for an international science competition, the grand prize for which is a trip to the Nobel Prize Ceremony in Stockholm.
The two persons who died in the accident were identified as IFFCO Deputy Manager Abhay Nandan and Assistant Manager V P Singh.
aishankar also declined to predict India's vote in advance on the upcoming draft resolution against Russia in the UN.
COVID-19 is on the verge of becoming endemic but Indian scientists are keeping a close watch on each new variant and the government would continue to maintain a high alert, Union health minister Mansukh Mandaviya has said, underlining that the virus has managed to survive and is going to stay.
Barring coal, electricity and steel, all sectors -- crude oil, natural gas, refinery products, fertiliser and cement -- recorded negative growth in September 2020.
Chambal Fertilizers & Chemicals Ltd said it has not received any communication from the government on the company's application to Foreign Investment Promotion Board.
The government may soon give the green light to bilateral trade between Russia and India in their national currencies to avoid any trade disruptions, multiple people aware of the matter said. While the Department of Commerce has recommended the proposal, an announcement is likely to be made by the finance ministry after further deliberations between the Department of Economic Affairs and Department of Financial Services. "The finance ministry will take a call on how to peg the two currencies," a senior government official told Business Standard. In the past, the two nations have had rupee-rouble trade, and when such an arrangement is implemented again, it will bypass the sanctions imposed on Russia by the West.
The G20 foreign ministers' meeting on Thursday was unable to come out with a joint communique due to sharp differences over the Ukraine conflict despite persistent efforts by host India to build consensus.
Barring coal and fertiliser, all sectors -- crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in August.
The next annual budget of India will have to be very carefully structured to sustain the country's growth momentum, Union Finance Minister Nirmala Sitharaman said on Tuesday, noting that it will also address inflation concerns. Visiting Washington DC to attend the annual meeting of the International Monetary Fund and the World Bank, the finance minister was responding to a question on the next year's Budget at a fire-side chat with eminent economist Eshwar Prasad at the prestigious Brookings Institute. "Specifics (of the next Budget) may be difficult at this stage because it's a bit too early. "But broadly, the growth priorities will be kept absolutely on the top. "Even as I speak about the concerns that inflation brings before me. So, inflation concerns will have to be addressed. "But then how would you manage growth would be the natural question," Sitharaman said.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
The wholesale price-based inflation eased to a five-month low of 13.93 per cent in July on easing prices of food articles and manufactured products. The WPI-based inflation softened for the second consecutive month in July, raising hopes of further decline in wholesale prices in the months to come. The Wholesale Price Index-based inflation, after scaling a record high of 15.88 per cent in May, declined to 15.18 per cent in June. It was 13.43 per cent in February. It was 11.57 per cent in July last year.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
The output of eight core infrastructure sectors grew marginally by 0.1 per cent in January, mainly due to growth in the production of fertiliser, steel and electricity. The core sectors had expanded by 2.2 per cent in January 2020, according to the provisional data released by the commerce and industry ministry on Friday. Coal, crude oil, natural gas, refinery products, and cement recorded negative growth in January.
The farm sector has been resilient to the COVID-19 shock and is estimated to grow at 3.9 per cent this fiscal, the Economic Survey said on Monday, while suggesting to the government to give priority to crop diversification, allied farm sectors and alternative fertilisers like Nano urea. The Economic Survey 2021-22 also pitched for increasing agriculture research and development (R&D) and organic farming, besides use of new technologies like drones. "The performance of the agriculture and the allied sector has been resilient to the COVID-19 shock. ...Growth in allied sectors including livestock, dairying and fisheries has been the major drivers of overall growth in the sector," the Survey said. The agriculture sector has experienced buoyant growth in the past two years.
'The RSS has opposed the introduction of GM Mustard tooth and nail, but PM Modi does not give a hoot for what they think.'
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
The output of eight core sectors rose 4.4 per cent in September on account of healthy performance by segments like natural gas, refinery products and cement, official data showed on Friday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had grown by 0.6 per cent in September 2020, as per the data released by the commerce and industry ministry.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in July.
Dhoni says no to brand endorsements amid pandemic, keeps busy with organic farming
With Prime Minister Narendra Modi on Wednesday inducting four new faces from Karnataka into his ministry, and chemicals and fertilisers minister D V Sadanda Gowda resigning ahead of the reshuffle, the state's representation in the Union council of ministers now stands at six.
Foreign ministers of G20 major economies will meet in the national capital on March 1 and 2 to deliberate on pressing global challenges amid escalating confrontation between Russia and the West over the Ukraine conflict that entered the second year this week.
The 193-member general assembly voted overwhelmingly on Wednesday to condemn Russia's "illegal so-called referendums in regions within the internationally recognised borders of Ukraine and the attempted illegal annexation of the Donetsk, Kherson, Luhansk, and Zaporizhzhia regions of Ukraine, following the organisation of the above-mentioned referendums".
India's exports entered negative territory after a gap of about two years, declining sharply by 16.65 per cent to $29.78 billion in October, mainly due to global demand slowdown, even as trade deficit widened to $26.91 billion, according to data released by the commerce ministry on Tuesday. Key export sectors, including gems and jewellery, engineering, petroleum products, ready-made garments of all textiles, chemicals, pharma, marine products, and leather, recorded negative growth during October. Imports during the month under review rose by about 6 per cent to $56.69 billion on account of increase in the inbound shipments of crude oil and certain raw materials such as cotton, fertiliser and machinery.
'A lot has been done under the leadership of PM Modi. He is a patriot of his country. His idea of 'Make in India' matters both economic wise and in ethics. Future belongs to India, it can be proud of the fact that it's the largest democracy in the world,' the Kremlin said at Valdai Discussion Club.
Sectors which recorded positive growth were coal, refinery products and fertiliser.
'He is exposing the failings of the BJP, which is rankling the party.'
The bull run in the Indian equity markets is intact, said analysts at Morgan Stanley in a recent note. They expect the S&P BSE Sensex to hit 80,000 levels by December 2023 in their bull-case scenario, to which they have assigned a 30 per cent probability. From the current level, this translates into an upside of nearly 29 per cent.
