While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep. Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent.
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
The active cases have reduced to 16,35,993 comprising 5.73 per cent of the total infections, while the national COVID-19 recovery rate has improved to 93.08 per cent.
The number of people who have recuperated from the disease surged to 2,75,04,126, while the case fatality rate has increased to 1.22 per cent, the data stated.
Recoveries outnumbered daily new cases of COVID-19 for the 43rd consecutive day with the number of people who have recuperated from the disease surging to 2,91,28,267. The case fatality rate stood at 1.31 per cent.
This is the second day in a row that the case positivity rate has remained below 10 per cent, the ministry said. The weekly positivity rate has also declined to 11.45 per cent.
The CAD is a critical indicator of the macroeconomic health and represents the gap between the overall foreign exchange expended and received in the economy.
Five states -- Maharashtra, Punjab, Karnataka, Chhattisgarh and Gujarat -- have registered a sharp rise in daily COVID-19 cases, the Union Health Ministry said on Friday as India recorded 59,118 new infections, the highest single-day rise so far this year.
Tennis players and venues stick to strict guidelines aimed at minimising health risks.
The active cases further declined to 11,21,671 comprising 3.83 per cent of the total infections.
On Monday night, when President Ram Nath Kovind presented the Padma awards at a civil investiture ceremony in the Darbar Hall of Rashtrapati Bhavan, the loudest applause was reserved for Swami Sivananda, the 125-year-old yoga guru who walked barefoot to receive the Padma Shri -- after prostrating before Prime Minister Narendra Damodardas Modi and President Kovind.
IT company Wipro posted a 17 per cent jump in consolidated net profit to Rs 2,930.6 crore for the quarter ended on September 30, 2021. The company had posted a net profit of Rs 2,484.4 crore in the same period a year ago. Wipro said that it has surpassed $10 billion (around Rs 75,300 crore) annualised revenue run rate.
India has surpassed the United States to become the fastest COVID-19 vaccinating country in the world with an average daily rate of 30,93,861 vaccine doses, the Union health ministry said.
India' total COVID-19 infections had surpassed the one crore mark on December 19 after which it took around 136 days to cross the two crore mark on May 4.
The daily positivity rate was recorded 3.24 per cent. It has been less than 5 per cent for 11 consecutive days, the ministry said, adding the weekly positivity rate has declined to 3.80 per cent.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
Prime Minister Narendra Modi on Tuesday met Microsoft co-founder and billionaire philanthropist Bill Gates on the sidelines of the climate summit here and discussed ways to further sustainable development, steps to mitigate climate change and vaccine research. The meeting between Modi and the American business magnate, whose foundation is focusing on fighting the COVID-19 pandemic, took place after the former launched the Initiative for the Resilient Island States (IRIS) for developing infrastructure of small island nations. Prime Minister Modi expressed appreciation for the work being done by the Bill and Melinda Gates Foundation in India, the Ministry of External Affairs (MEA) said in a statement.
A total of 42,640 Covid infections were reported in a day, while the death toll climbed to 3,89,302 with 1,167 daily fatalities, the lowest in 68 days.
The CoWIN portal will be made available in Hindi and 14 regional languages by next week, while 17 more laboratories will be added to the INSACOG network to monitor the variants of COVID-19, the health ministry said on Monday.
Mann stares at a twin-headed monster: Resuscitating the state's debilitated public-sector enterprises and controlling the spiralling debt to keep the state machinery and his poll-fuelled populist schemes running.
Of the cash outgo, Rs 64,598 crore is for enhanced expenditure on fertiliser subsidy under Atmanirbhar Bharat Abhiyan 3.0 and Rs 20,466 crore for the capital outlay in defence services.
With Australia sealing its borders and putting restrictions on travel to contain the dreaded disease, cricket authorities are trying to find ways to manage health and safety of the visiting teams if the series goes ahead as planned.
Both players remain asymptomatic and are in quarantine. LA Lakers has chosen not to reveal the identities of both the players. Last week, Utah Jazz's Rudy Gobert had also tested positive for coronavirus and this resulted in the suspension of NBA for at least 30 days.
Internet cafes have 'brought great harm to the mental health of teenagers and interfered with the school teaching', according to an official.
'The PSBs ended up recording Rs 7,709 crore losses in the March quarter compared to the Rs 11,688 crore profits of their private peers,' reveals Tamal Bandyopadhyay.
Ravichandran Ashwin said that the players will follow what the Board of Control for Cricket in India (BCCI) will decide.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Our government has failed the country on several counts. All this must change for India to redeem itself in six months, says Naushad Forbes.
A new three-day lockdown in Brisbane has put Cricket Australia in a spot of bother as it makes desperate efforts to hold the fourth and final Test against India in the Queensland state capital from January 15
Silverwood also said that opener Haseeb Hameed is making a "very strong case" for a Test recall.
The number of active cases has declined to 6,27,057 and is 2.08 per cent of the total infections.
While a coordinated aggressive monetary easing from the central banks is most likely to offer some respite in the near-term, it is unlikely to improve the sentiments.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
A record 14,92,409 tests have been conducted for detection of COVID-19 in a span of 24 hours.
Most of the estimated 70 million euros net earnings from the claycourt Grand Slam tournament are spent on helping French tennis.
Maharashtra, Punjab, Karnataka, Chhattisgarh and Gujarat are reporting a surge in daily COVID-19 cases and the five states together account for 77.44 per cent of the new infections, the Union health ministry said on Wednesday.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
In 2022, the hybrid work culture will become more relevant to attract and retain talent, while also ensuring they foster a sense of wellness and belonging in the workspace.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
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