Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
'At the heart of the strategic relationship between our countries are economic ties.'
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.
Badal, who served as the finance minister in the previous Congress government, said, "Seven years ago, I merged the People's Party of Punjab with your party. I did so with immense hope and an expectation of being integrated into an organisation with a rich history that would allow me to serve both the people of Punjab and its interests to the best of my ability."
At seven, Laxman Singh was one of the first children to be rescued by Kailash Satyarthi from bonded labour. Through his story, the author traces the Nobel Peace Prize awardee's campaign
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
Given the prevailing uncertainties, investors must maintain a 10-15 per cent allocation to gold in 2023.
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
Analysts attribute this outperformance to the government's proactive economic reform measures
Pakistan government on Friday sought the early hearing of LeT operations commander Zaki-ur-Rehman Lakhvi's case in the supreme court, a day after the 2008 Mumbai terror attack mastermind was remanded to 14-day judicial custody for the abduction of an Afghan national.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
The State Department in its report listed more than a dozen significant human rights issues for India. Prominent among them are unlawful and arbitrary killings, including extrajudicial killings perpetrated by police; torture and cases of cruel, inhuman, or degrading treatment or punishment by some police and prison officials; arbitrary arrest and detention by government authorities; harsh and life-threatening prison conditions; political and prisoners or detainees in certain states.
West Bengal Congress spokesperson Kaustav Bagchi was granted bail by a court in Kolkata on Saturday evening, hours after being arrested for his alleged comments against Chief Minister Mamata Banerjee.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Gandhi claimed that authoritarian tendencies are becoming clearer, with the erosion of fundamental rights being accompanied by a narrow imposition of conformity and obedience from dutiful citizens. voters polarised for electoral gains
Anshu Kumar, 21, son of government school teachers from a village in Bihar, won the President's Silver Medal at the NDA. He commanded the grand passing out parade and will go on to join the Indian Navy.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
After two years of a record low interest-rate regime, Indian corporate houses are experiencing a sharp and abrupt increase in funding costs. With the Reserve Bank of India last month making an unequivocal turn towards policy tightening amid high inflation, firms looking to tap the capital markets for funds are ending up shelling out more. The yield on the benchmark triple-A-rated corporate bonds maturing in three years has climbed 98 basis points (bps) since the policy rate hike in May. It was last at 7.47 per cent, Bloomberg data showed.
Exactly a fortnight ahead of the Reserve Bank of India's (RBI's) next monetary policy review, a key market indicator of interest rates - the overnight indexed swap (OIS) - suggests that the central bank may tighten policy by 35 basis points and then refrain from further rate hikes. RBI Deputy Governor Michael Patra recently described the OIS as the primary instrument for hedging interest rate risk in India. The six-member Monetary Policy Committee (MPC) of the RBI will meet on December 5-7.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per cent in 2022 to 3.42 billion Swiss francs (nearly Rs 30,000 crore), annual data from Switzerland's central bank showed on Thursday.
They now believe their money will be repaid after completion of the tenure of the instruments they have invested in, says Anup Roy.
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
Never one to mince words, Rajan will walk away with a mixed legacy
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
In the face of continuing uncertainty in the domestic stock markets, the government and Reserve Bank of India may look at allowing foreign institutional investors to temporarily park their funds in the domestic debt market, a top Sebi official said. Presently, FIIs are allowed to park upto $8 billion in the domestic debt markets, which includes upto $5 billion in the government securities and upto $3 billion in the corporate bonds.
The 52-year-old Congress leader reached Surat in the afternoon via a scheduled commercial flight along with sister Priyanka Gandhi Vadra and proceeded to the sessions court.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
The scheme calls for banks, refineries and hallmarking centres to work together.
The ruling Dravida Munnetra Kazhagam (DMK) has submitted before the Supreme Court that it is discriminatory to exclude Tamil refugees from the purview of the Citizenship (Amendment) Act, 2019 and prayed that the legislation be declared null and void as it is unconstitutional and "destroys the basic fabric of secularism."
People were being honoured without a recommendation, he stressed in his monthly radio programme.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The entry of the 152-members three NDRF teams and six canines into the disaster zone was swift, and their exit "moving and emotional".
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
The encouraging response, at the auction held on Thursday at Bombay Stock Exchange, came at a time when Foreign Institutional Investors have been pulling out from Indian debt market heavily.
'The government is trying to kickstart the investment cycle in India and while the corporate investments are yet to gather momentum, there are early signs of the same.'
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