Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event of auto industry body SIAM on sustainable mobility, the minister said the government is working in multiple ways to encourage sustainable mobility. "India recently achieved 10 per cent ethanol blending target 5 months in advance, saving over Rs 41,000 crore worth of fuel imports for the nation," Choubey noted.
A total of 22.05 crore applications were received during the period.
Telecom gear makers say will take six to eight months for the top 10 cities to have some reasonable coverage of 5G network services.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
'India's manufacturing will take 10-15 years to catch up with China.'
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
Prime Minister Narendra Modi on Friday flagged off the Gandhinagar-Mumbai Vande Bharat Express semi-high speed train.
He accused the previous governments of being sluggish on implementing railway projects and said the work of ambitious eastern and western dedicated freight corridors expedited only in the last six-seven years.
The man, identified as Gati Dhibar of Pechamundi village, walked over 15 kilometres carrying the body of his daughter, who died at the Palahada Community Health Centre in Angul.
Generally, before adjourning the house sine die the chair reads out the statistics about the business transacted in the house in detail.
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
Speaking during the Question Hour, the road transport and highways minister said the country has set several world records in road construction despite COVID-19. The construction of Zoji La tunnel on the Srinagar-Leh highway will be completed before 2024, while another Z-Morh tunnel will be completed in the next three months, he added.
If 2019-20 (FY20) was an unusual year for highway construction in India, with the pace of work slowing down for the first time since the Narendra Modi government assumed power in 2014, largely due to the general elections in May and liquidity crunch, the outbreak of the Covid-19 pandemic in 2020-21 (FY21) only made matters worse with lockdowns and labour unavailability. The pace of highway construction in 2021-22 (FY22) has not been able to bulldoze the pandemic barriers in a year marred by two Covid-19 waves - the second at the start of the fiscal year, the third towards the close. With localised lockdowns and restrictions on mobility, highway construction growth in the country has now fallen to a five-year low.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
Here's the full text of the maiden address to the nation by President Droupadi Murmu on the eve of Independence Day 2022.
While no specific state-oriented sops were rolled out, a strong thread of political wellness ran through the Budget.
Modi was addressing a rally after laying the foundation stone of 594-km-long Ganga Expressway in this Uttar Pradesh district.
A pre-tournament medal contender, the 23-year-old Neeraj Chopra fuelled the country's expectations by topping the qualification round with a stunning first round throw of 86.59 metres.
Replying to the debate in Lok Sabha on Motion of Thanks to President Ram Nath Kovind's address to the Parliament, Modi said the Congress' 'arrogance' has not gone away despite multiple electoral defeats and its 'misdeeds' seem to indicate that it has made up its mind not to come to power for the next 100 years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'There is a vision in the Budget, and the vision is to take India from a largely agrarian, rural economy into a fast-track digitalised economy.'
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
'The BSF and other forces will undertake a counter-action at a suitable time'
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
Violating the ceasefire yet again, Pakistani troops on Thursday targeted Indian posts with small arms fire to give cover fire to a group of infiltrating militants along the Line of Control in Poonch district.
The Pakistan army used heavy weaponry, firing 120 mm mortars targeting civilian hamlets and forward posts since 5.30 pm on Tuesday, said an army officer.
These stocks are overvalued and, therefore, one should not adopt a buy and hold strategy.
Pakistani troops fired 15 under-barrel grenade launcher rockets on five Indian forward defence locations from its eight border posts along the LoC in Krishna Gati sub-sector of Poonch district at around 1815 hours on Saturday night, Brigadier General Staff, 16 Corps, Brig Gurdeep Singh told PTI on Sunday.
Each logistics park will have a container terminal for both domestic and international operations, mineral-handling terminals, cement and fertiliser terminals, automobile terminals, storage and distribution as well as trans shipment facilities, conventional, cold storage and product-specific warehouses as well as hotels, banks, food parks and entertainment centres. Logistics companies said the multi-modal logistics parks offer a huge growth opportunity.
The exchange had earlier said that DLF would move out from Group A.
The Index of Industrial Production (IIP), GDP figures, current account data, foreign direct investment and exports-imports data are very dismal. They do not show the extraordinary 9 per cent growth, says Amreek Singh Sandhu, CFO, Gati Ltd.
Pista House ties up with Gati for worldwide delivery.
The BSE Mid-Cap index was currently down 1.25%
VJTI, Mumbai invites engineering as well as non-engineering students to attend its annual technical festival, Technovanza 2006.
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