The Congress on Friday attacked Prime Minister Narendra Modi for "taking credit for the commissioning of" India's first indigenous aircraft carrier INS Vikrant and accused him of "hypocrisy" for not recognising the contributions made by earlier governments.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
The six-member monetary policy committee voted 5:1 for the decision, with only Ravindra Dholakia voting for a 0.25 per cent reduction in rates.
The Asian Development Bank (ADB) on Wednesday slashed India's GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022). "However, GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022 (ending March 2023) and 7.2 per cent for FY2023 (ending March 2024) as price pressures are expected to adversely impact domestic consumption, and sluggish global demand and elevated oil prices will likely be a drag on net exports," ADB said.
'The weekend advance booking are extremely encouraging for these movies, and the extended break due to Mahashivratri, will provide a significant impetus.'
Houseful signs were visible on online booking apps as well as physical boards all over again. It has been ages since one has seen a phenomenon like this.
The cost of acquiring the advanced light helicopters from the state-run Hindustan Aeronautics Ltd (HAL) has been estimated at Rs 3,850 crore while a batch of rocket ammunition will cost Rs 4,962 crore, the defence ministry said.
The services sector, which plays the biggest role in shaping the economy, is facing loads of issues currently. The largest segments, financial and real estate, are struggling to cope with bad debts and low demand for houses.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Shah Rukh had outgrown the roles that made him a star -- the menacing, obsessive lover in Darr, the regular guy in Kabhi Haan Kabhi Na or the new age boyfriend in Dilwale Dulhania Le Jayenge. By the time he entered his 50s, he was struggling to find his feet, explains Vanita Kohli-Khandekar.
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
This rate of growth has a number of implications.
Ratings agency ICRA on Wednesday revised downwards growth forecast for the domestic passenger vehicles industry to 8-11 per cent in the ongoing fiscal from the earlier estimate of 14-17 per cent on account of the ongoing semiconductor shortage. Similarly, for the two-wheeler segment, it said the volumes are expected to contract by 1-4 per cent in FY2022 against an earlier prediction of 6-8 per cent growth as affordability and demand sentiments of target clientele was hit sharply by the second wave of COVID-19 pandemic. With around 5 lakh units of production lost by various automakers in the passenger vehicles segment due to the semiconductor shortage, ICRA said the earnings loss for the OEMs (Original Equipment Manufacturers) could be around Rs 1,800 crore to Rs 2,000 crore for the ongoing fiscal.
The recent migration of marquee investments from Maharashtra to Gujarat seems to have rekindled the Marathi manoos sentiment.
India's economic growth had slumped to a decade's low of five per cent in 2012-13.
Providing comfort to the government on the revenue front amid fiscal stress, direct tax collection is moving closer to the revised Budget target for 2021-21 and may get a further thrust from the last instalment of the advance tax payment, the deadline for which ended on Monday. The contraction in net direct tax collection narrowed to 5 per cent year-on-year as on March 15 compared to a 9 per cent decline seen in January. In absolute terms, net collection stood at Rs 8.2 trillion against Rs 8.67 trillion in the same period last year, according to the provisional numbers shared by a government official.
The sweeping economic sanctions on Russia - the second largest producer of crude oil - following its invasion of Ukraine late last month can cull global and domestic growth along with the added pains of higher inflation and currency depreciation, RBI Deputy Governor Michael Patra has said. And if the war lingers on, it can even lead to deglobalisation and even a recession, he added. The ongoing war has only added a whole new dimension to the outlook, and in fact, a weighty downside, Patra said in a lecture at the industry lobby IMC on Friday evening.
Describing the recent two consecutive spikes in retail inflation beyond the 6 per cent as a 'transitory hump', a Wall Street brokerage on Monday said it expects the RBI to overlook it and unanimously stick to the dovish stance at the forthcoming policy review, even though a further upward revision of its already-revised inflation target is more likely. The Reserve Bank-led monetary policy panel is scheduled to announce the third monetary policy review on August 6, amidst the continuing spike in retail inflation that has breached the 6 per cent upper tolerance level for the past two consecutive months.
The MoD did not reveal the number of missiles procured through the latest contract.
However, this information was inadvertently revealed through an official MoD photograph that accompanied the announcement.
When asked if the African cheetahs will adapt easily to the Indian habitat, she said that the species are adaptable and India has a history of their presence.
A looming global shortage of diesel in Europe presents India with more than one opportunity to profit from strong margins. A shortage of the fuel, a key contributor to inflation, has been exacerbated by the conflict in Ukraine, and western sanctions on Russian fuel supplies. The slowdown in natural gas supply means the West needs diesel to heat their homes this winter.
'Historically, Qatar has done wonders as I don't think this will ever be possible with the new format of the World Cup.'
One in eight adults who are infected with SARS-CoV-2 experience long term symptoms due to Covid-19, according to one of the most comprehensive studies on the viral disease to date published in The Lancet journal on Friday.
The government is looking at a time frame within the first two weeks of July to kick off and complete the upcoming 5G auctions, according to discussions between officials and stakeholders. It is expected that the Telecom Regulatory Authority of India (TRAI) will give its recommendations on the base price by March, after which the necessary cabinet clearances will be given. The Department of Telecommunications (DoT) had earlier looked at undertaking the auction in the first quarter of 2022 but decided to push it back. Communications Minister Ashwini Vaishnaw had also said that the auctions are likely to take place in April-May.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
These kinds of assumptions to be used for a nation of India's size and "to put us in poor light is not desirable"
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
The idea is to get the budget passed by Parliament along with Appropriations Bill and the Finance Bill by the end of March as this would ensure implementation of the Budget proposals from April 1.
The CSO said that the first revised estimates for 2016-17 have been compiled using industry-wise/institution-wise detailed information instead of using the benchmark-indicator method employed at the time of release of Provisional Estimates on May 31, 2017.
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
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.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
The plucking of dussehri, which will hit the shelves next week at 50% premium, started late this season, because of poor crop and adverse weather conditions, including hailstorms, in the orchards of Malihabad.
The battle on creating jobs is virtually lost. If the battle for achieving higher growth too is lost, then its political consequences could become difficult to manage, says A K Bhattacharya.
The hit to economic activity will be mostly confined to the first quarter. And a third wave, if it materialises, is unlikely to be hugely disruptive for the economy, predicts T T Ram Mohan.
While commercial vehicles are expected to benefit from strong replacement demand, the two-wheeler and tractor segments are expected to gain from a recovery in the rural economy.
Currently, TCS is India's second most valuable firm after Reliance Industries, which has a market cap of nearly Rs 12.9 trillion.
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