'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
"There will be some challenges" in the switchover to GST in the short term, Finance Minister Arun Jaitley has warned.
The Nationalist Congress Party has claimed all the 28 Congress corporators in Malegaon city in Maharashtra's Nashik district, including the mayor, crossed over to the party on Thursday.
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
The imapsse continues over issues like bank scams and special status demand for Andhra Pradesh.
The Opposition on Monday charged the government with trying to promote crony capitalism, creating fear by giving "unbridled power" to taxmen, trying to snoop into people's lives through increased use of Aadhaar through the provisions of the Finance Bill.
India will require a total investment of $10.1 trillion to achieve net-zero emissions by 2070, while the nation could face a shortfall of $3.5 trillion, a study by CEEW Centre for Energy Finance (CEEW-CEF) said. At the recently concluded COP26, Prime Minister Narendra Modi announced India's aim to achieve net-zero emissions by 2070. "India would need cumulative investments of $10.1 trillion to achieve net-zero emissions by 2070, according to an independent study released today by the CEEW Centre for Energy Finance (CEEW-CEF)," a statement said.
Finance Minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it. The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report. It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.
Punita is the founder and managing partner, Pacific Paradigm Advisors
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
Some believe that, as prime minister, Sunak will be particularly friendly to India and that he would return the Kohinoor and do similar gestures to his motherland. Such wishful thinking is not likely to materialise as he will act in the best interests of the UK and will not even appear to favour India, argues Ambassador T P Sreenivasan.
Here is the lowdown of the each state and parties.
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
'Our approach to India is no different from the approach that we have made in India over the years, recognising its non-aligned status. That's their decision; we're not trying to change that. We have common interests, and we have actually built on those common interests... We think there's more potential to build on those common interests.' 'Security, stability, freedom of sea lanes, economic development, energy, all those are certainly in the interest of India and the region, as they are to the United States.' The transcript of US Secretary of Defence Chuck Hagel's interaction with reporters travelling with him hours before he landed in New Delhi on Friday on a three-day visit to India.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
That a brown skinned man -- albeit one who speaks with a posh English accent -- would one day be the front-runner in a race to elect Boris's successor and head the party once led by Churchill and Thatcher would seem indigestible to the white men and women who have formed the trunk of the Conservative party for generations.
IMF's Chief Economist Gita Gopinath on Thursday said it would be damaging for India to start tightening policy support in the midst of the COVID-19 pandemic and also stressed on reducing wasteful expenditures in the upcoming Budget. Delivering NCAER's '9th C D Deshmukh Lecture' virtually, Gopinath said there is scope for the Indian government to provide more direct support to people.
Modi, 68, was administered the oath of office and secrecy by President Ram Nath Kovind at a glittering ceremony at the forecourt of majestic Rashtraparti Bhavan.
The dissidents, led by former president Sirisena's Sri Lanka Freedom Party, would leave the ruling Sri Lanka Podujana Peramuna coalition with its 14 Members of Parliament, party sources said after their meeting with the President on Monday.
Jaitley said an effective multi-modal logistics and transport system will "make our economy more competitive.
Finance Minister Arun Jaitley on Friday said Switzerland has agreed to share information on Indians having illicit money in Swiss banks on independent evidence provided in each case to the Alpine nation.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
The BJP and the AIADMK are unable to sort out ideological differences, observes N Sathiya Moorthy.
In an interview with PTI, Chidambaram also stressed that no Congress MLA elected in the upcoming assembly polls can be poached by the Bharatiya Janata Party in Goa this time, saying 'our house is well-guarded' and though the 'thief' is still out there, the people 'will teach him a lesson'.
It is a tribute to India's democracy, however flawed, that the very same MPs who had harangued her intermittently from Opposition benches now surged towards her, anxiety writ large on their faces. One offered her some homoeopathic tablets, another advised her to stay seated, another grasped her hand wishing her good health... the crowd parted as Prime Minister Narendra Modi strode up to congratulate her. But it was mostly well-wishers from the Opposition and the NDA that kept the finance minister cocooned with good wishes until it was time to leave, reports Aditi Phadnis.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
The Opposition candidate in the July 18 presidential polls, Yashwant Sinha, held his first campaign strategy meeting on Wednesday at the Nationalist Congress Party office in New Delhi and said a "rubberstamp President" will not work in the country.
When elected on July 18 -- which is almost a certainty, given the NDA's numbers in the electoral college -- Droupadi Murmu will be the first President born after Independence.
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
The Budget would have been the perfect vehicle to introduce some bold initiatives.
That opportunity has been lost through this Budget, observes Shreekant Sambrani.
External Affairs Ministry Spokesperson Raveesh Kumar said India will continue to extend all support to the Afghanistan as a contiguous neighbour, in a clear reference that the Pakistan-occupied-Kashmir belongs to India.
Basil had negotiated the Indian economic relief package to help Sri Lanka tackle the current foreign exchange crisis.
Jaitleysaid Mallya misused his position as an MP to accost him once in Parliament.
Apart from Smriti, Ravi Shankar Prasad and Ananth Kumar took over as law and parliamentary affairs ministers respectively.
'From the tiniest to mid-level organisations and even some at the lower end of the large-scale ones would say that computerisation and the extensive documentation and regulatory requirements for GST have made the compliance process worse in many cases.'
'India resembles not just the more turbulent bits of its own past, but other 'managed' democracies, where all institutional strength and independence have been hollowed out to serve political power,' notes Mihir S Sharma.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
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