'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
As mostly sports-mad Mongolians cheer on the country's two medalists at the Rio Olympic Games, deepening economic troubles at home mean the new government cannot afford to pay its athletes.
Will it be home or defence for Amit Shah?
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
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.
'Reports in a section of media regarding Union Minister Shri Arun Jaitley's health condition are false and baseless. Media is advised to stay clear of rumour mongering,' Government Spokesman Sitanshu Kar tweeted.
The reshuffle had politics at its heart, so the biggest complement of new ministers, both Cabinet rank and below, came from UP, which will see assembly elections in a few months.
Parliamentary standing committee on labour, led by Biju Janata Dal MP Bhartruhari Mahtab, has said in its report that it is unjustifiable for owners to pay workers' wages during natural calamities.
Calling Jaitley a "master of half truth and beautiful lies", AAP leader Ashutosh made certain fresh allegations against the finance minister and said his comments that there was no specific charges against him was "misleading".
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids.
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
'This updated NPR database along with Aadhaar Number would become the mother database and can be used by various government departments...' the home ministry declared in July 2015. 'UID/Aadhaar has been used as a fish bait to ensnare and entrap present and future generations of citizens,' warns Gopal Krishna.
The BJP said it is legal with adequate safeguards and in the interest of national security..
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Two Indian seafarers stranded without passports on a cargo ship in Iran's port city of Bushehr since 2019, have been released after the Indian embassy in Teheran issued travel documents, the Maritime Union of India (MUI) said on Friday. The claim made by the MUI could not be independently verified.
The swearing-in ceremony of the new ministers would take place at the Raj Bhavan in Shimla on January 8 at 10 am, the sources said on Saturday.
It is widely believed that Nandan Nilekani's meeting with Prime Minister Narendra Modi saved the ambitious Aadhaar project from oblivion or a takeover by the home ministry.
The Union health ministry officials also said India was at the second stage as there is still no 'hard evidence' to say that there has been community transmission of the fast-spreading coronavirus, remarks which may provide anxious citizens with much needed assurance and hope.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
Noble laureate economist Amartya Sen, the chancellor of Nalanda University in Bihar's Nalanda district, has questioned the interpretation of the upcoming university as another central university rather than an international institution.
Congress President Sonia Gandhi's decision to go the whole-hog against the Supreme Court's verdict -- which recently upheld the constitutionality of Section 377 criminalising homosexuality -- is not very typical of how the grand old party handles such issues.
Forex dealers said besides continued demand for the American currency from importers, increased capital outflows by foreign funds kept pressure on the rupee.
Among the other names tipped to make it to the Cabinet are Jyotiraditya Scindia, Sarbananda Sonowal, Baijayant Panda.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
The Delhi Assembly on Monday passed bills pertaining to over 66 per cent hike in salaries and allowances of its members who are among the lowest-paid lawmakers in the country.
Those transferred include special secretary of health and family welfare Udit Prakash Rai, a 2007 batch IAS officer of AGMUT cadre.
The government of India holds 24.5 per cent stake in GSTN while states together hold another 24.5 per cent
Oil ministry will move Cabinet Committee on Economic Affairs once comments from ministries of finance, law, home, environment and corporate affairs are received.
Addressing his council of ministers in a video conference, Modi asked them to prepare business continuity plans to fight the economic impact of COVID-19 on a war footing, but also asserted that this crisis is an opportunity to boost the 'Make-in-India' initiative and reduce dependence on other countries.
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
With big data analyses, your investments, spends and big purchases are being tracked more closely now by the income tax department.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
'A political party taking the law into its hands is objectionable, especially in the context of the 2002 incidents in Gujarat.'
Interestingly, PM Modi had thanked his UAE counterpart Sheikh Mohammed bin Rashid Al Maktoum for offering the support to the rain-battered state on August 18.
Most of the 40 MLAs in the Shinde camp don't have enough legislative experience to conduct business in the House and so the first ministry expansion needed induction of veterans.
After the initial release of funds, the central government follows certain rules and guidelines before awarding the final aid to any state for a natural calamity.
