'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
Pai is the fourth Indian-American to become part of Trump's administration.
Chidambaram said NSEL was not a registered or recognised association under the FMC but got exemption even before it started its business.
According to an ED order, the agency has seized movable and immovable properties of the firm -- Ms N K Proteins -- in Mumbai, Noida, Ahmedabad and Palanpur in Gujarat under the criminal provisions of the Prevention of Money Laundering Act.
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
The Pay Commission process is symptomatic of a national crisis within the Indian state.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
Ahluwalia also said that markets in India has withstood the pressures of the time very well and has come a long way over the years.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Commerce and Industry Minister Anand Sharma and European Union Trade Commissioner Karel De Gucht concluded another round of talks on Monday at the European Commission headquarters in Brussels, which the Commission said 'provided a renewed momentum to bring the negotiations forward'.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Jignesh Shah, the promoter of Financial Technologies India Ltd, on Wednesday resigned from the board of MCX Stock Exchange, amid continuing Rs 5,600 crore (Rs 56 billion) payment crisis at group company NSEL.
The Planning Commission on Saturday approved the draft integrated energy policy, which seeks to implement market-based pricing and bring about better coordination among ministries.
In his capacity as an member of Parliament from South Mumbai, Minister of State for Telecom and Shipping Milind Deora today wrote to Prime Minister Manmohan Singh and sought his intervention to resolve the settlement crisis facing the National Spot Exchange Ltd.
2015 is set for a lot of changes - and some that we would like to happen
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Google has approached the appellate tribunal NCLAT challenging the CCI's order on unfair business practices in Android mobile device ecosystem, the company spokesperson said on Friday. The Competition Commission in October slapped a steep penalty of Rs 1,337.76 crore on internet giant Google for abusing its dominant position in multiple markets in relation to Android mobile devices and ordered the internet major to cease and desist from various unfair business practices. A Google spokesperson told PTI: "We have decided to appeal the CCI's decision on Android as we believe it presents a major setback for our Indian users and businesses who trust Android's security features, and potentially raising the cost of mobile devices."
The government has also allowed individuals from the private sector to apply for the post
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
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The ministry would access data on all the tickets sold by different carriers under various price brackets and then analyse the data to give an indication of exactly how many tickets were sold under each price slab.
On Tuesday, it stopped trading in e-series contracts in gold in anticipation of the notification to this effect.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
'Manipur is critical to India's Look East policy.' 'It's a strategic state. In the Second World War, the Japanese entered Manipur through Burma.' 'China can use the same direction to approach India.'
RBI Governor cautioned against more volatility.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
The Planning Commission has not been central to the policy making process since the mid-1960s, says Nitin Desai.
Deloitte, MCX's is learnt to have objected to PwC pointing out several irregularities in the exchange's expenditure, donations, etc, in its audit report.
The Ministry of Corporate Affairs ordered the inspection of the books of accounts of NSEL and Financial Technologies India Ltd to ascertain if any rules under the Companies Act were violated, a senior official said.
The government on Tuesday said it is keeping a close watch on the developments in the crisis-ridden NSEL and will take action once reports of the two committees looking into the problems of the exchange are received.
The Plan Panel was set up by a simple government resolution in March 1950 had withstood many political and economic upheavals.
Both Corporate Affairs and Finance Ministries are studying the feasibility of implementing the FMC's proposals.
The Income Tax department has declined to share details of probe being carried out in Rs 5,600 crore (Rs 56 billion) payment default by National Spot Exchange Limited (NSEL) saying it would "hamper the process of investigation or apprehension of offenders".
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
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Financial Technologies (India), has made a loan of Rs 225 crore to NSEL.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
Amid speculation over Congress leader Sachin Pilot's next move, sources close to him on Tuesday said he was firm on his demands, including action against alleged corruption during the previous Vasundhara Raje government, and was waiting for a definitive response from the party high command.
The crisis-hit NSEL is promoted by Jignesh Shah-led Financial Technologies (India) Ltd.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
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