Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
It is not just a mere coincidence that the change in the government's response happened when Chidambaram took charge.
The flawed response to the crisis has fed a us-vs-them mentality in which the banker, the expert, the coastal entrepreneur, the immigrant, the foreigner are all villains. The crisis was not that much of a problem; the response -- the over-reaction, the sovereign debt build-up and the lasting anger -- is the problem, says Mihir S Sharma.
Encouraged by response of foreign investors to PSU stake sale, the government is proposing to raise the disinvestment target to Rs 40,000 crore in the next financial year by selling equity in 20 companies.
said its consolidated net profit has gone up by 7 pc to Rs 3,708 crore while total income in the October-December quarter rose 8.3 pc to Rs 18,093 crore.
While the session will begin with the President's address to the joint sitting of the two Houses, the same day the pre-budget economic survey will be tabled.
While the share of diesel vehicles sales in the overall passenger car industry has already fallen sharply, sales of CNG vehicles have shown a compound annual growth rate of 15.5 per cent over the past five years.
Significantly, about half of the CEOs who took part in the survey indicated that they propose to increase their investments in near future, 45 per cent cited no change in investment levels, while only 5 per cent expected a fall.
Dabhol power plant is a lesson on what to avoid while setting up large infrastructure projects.
Through this transaction, Amazon has managed to acquire around a 3.6 per cent stake in the Future group.
'You peel one layer, then another layer, then another, but in the end, you will see that there is no onion inside.' 'This package has been packaged well, but there is nothing much inside the package!'
The trade deficit is now at $21 billion.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
Ban on purchase of vehicles, except for defence, continues.
Nepal raised objection to India's newly-inaugurated road linking Lipulekh Pass with Dharchula in Uttarakhand.
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RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
The government, which had set a reserve price of Rs 14,000 crore for pan-India spectrum broadly drawing from the basis used by Comptroller and Auditor General in calculating the loss in the previous sale in 2008, managed a meagre Rs 9,407.64 crore (Rs 94.07 billion) in the auction that lasted barely two days.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
The federal government uses a fiscal year that begins in October; on that basis, the 2014 fiscal year ended in September saw a deficit of $483 billion, the lowest of Barack Obama's presidency
The report said efforts to stabilise the economy through monetary policy interventions need to be complemented by appropriate fiscal policy measures.
Air India expects to wipe out some red marks from its balance sheet.
After poor response to last month's 2G spectrum sale, a ministerial panel on telecom on Friday decided to lower the base price by 30 per cent for radiowaves in 1800 Mhz band in four circles, which attracted no bidders, for fresh auction this fiscal.
It blamed delay by the Reserve Bank in cutting rates and prop up growth.
Collection will have to rise by 30 per cent in the remaining period of the financial year to achieve the Budget estimate.
While Congress and the states ruled by non-NDA parties pushed for the Centre meeting its statutory obligation of covering the deficit, the Union government cited a legal opinion to say it had no such obligation if there was a shortfall in tax collections. The Centre as well as BJP-JD-U-ruled Bihar were of the opinion that the states should borrow to make up for the shortfall in the tax revenues that have been compounded by the COVID-19 crisis, sources said.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Who's calling the shots in the party, asks Aditi Phadnis.
The report said inflation is expected to remain below 5 per cent over the two years.
In April, the World Bank had projected India's GDP would grow at 6.1 per cent in the current financial year and at 6.7 per cent the following year.
Diwesh Sharan, a deputy director general of ADB, says beside the PPP model and viability gap funding, there is a 3rd option - value capture - to raise funds for India's ambitious infrastructure projects.
The minimum size of each bid would be $10 million and in multiples of $1 million thereafter.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
Vice-Chairman Arvind Panagariya said that India is facing a health crisis that has led to a sudden stop of the economy.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
The Reserve Bank is scheduled to come out with second quarter monetary policy review on October 30.
The video conference, which began at 11 am, comes amid indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
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