Ratings agency Moody's on Tuesday affirmed India's sovereign rating and upgraded the country's outlook to 'stable' from 'negative', citing receding downside risks to the economy and financial system.
No alcohol was served in bars, pubs, restaurants and hotels and none could be bought either as permits expired on July 31.
With the expert panel's recommendations, the project comes a step closer to getting the environment clearance (EC), to be given by the Union Environment Minister.
To help the country emerge as a true welfare State, political parties must put the country's interests first before strategising to win elections and short-term goals, argues Ramesh Menon.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
The Biden administration has announced that it is delaying the H-1B policy of the previous Trump administration on allocation of the popular foreign work visas by continuing with the lottery system until December 31, 2021, to give the immigration agency more time to develop, test and implement the modifications to the registration system. On January 7, the US Citizenship and Immigration Services (USCIS) announced to do away with the traditional lottery system in deciding the successful applicants for the H-1B visas. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise.
Thackeray also said he won't block NPR but will not allow NRC in Maharashtra. He assured that he will 'personally check the columns' in the NPR, adding there shouldn't be any problem with the exercise in Maharashtra.
Modi invoked the epics of Ramayana and Mahabharata to assert that it is in Indian tradition to avoid war be it in Lanka or Kurukshetra and the country stands for world peace.
Nearly 250 private liquor vends, licensed under now-withdrawn Excise Policy 2021-22, are running currently in the city.
'Despite the pandemic, we aspire to maintain the momentum of last year.'
The Indian Space Research Organisation on Sunday faced a blip in its plan to tap the small satellite launch vehicle market, as an anomaly in the placing of the satellites by the rocket led to deviation on its path thereby becoming 'no longer usable', Chairman S Somanath said on Sunday.
The space agency is gearing up for the human spaceflight programme by 2021-end that is likely to include a woman astronaut.
Praful Patel, said that he has absolutely no interest in holding any position in the national football body
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
'A political party taking the law into its hands is objectionable, especially in the context of the 2002 incidents in Gujarat.'
India Inc's philanthropic spends have grown by 3.62 per cent to Rs 22,000 crore in FY21 as profits expanded, and a majority of the allocations have been done to pandemic-linked causes, a report said on Tuesday. The report by rating agency Crisil said that while the first wave saw greater spending in cash largely through the PM-CARES Fund, the preference shifted to more direct support through in-kind spends in the second wave. Corporate contributed only Rs 85 crore to the PM-CARES Fund during the second wave between March and June 2021, as against Rs 831 crore to what was classified as 'others'.
Amway maintains the action was related to a case in 2011 and it has been cooperating with the investigative agency.
Data from market research agency Nielsen shows that 152 new players entered the hygiene market in March as the lockdown was implemented to contain the spread of the coronavirus disease. The trend is expected to continue, the agency says, as hygiene and health emerge as key themes.
Soon after Hardik Patel quit the Congress on Wednesday, the opposition party alleged that the Bharatiya Janata Party has 'lured' the Patidar leader by promising to get cases against him withdrawn and has 'scripted' his resignation letter.
India Inc resorted to salary cuts to protect their profits in the June quarter, as revenues came under pressure due to the second pandemic wave that affected nearly the entire country, a report said on Wednesday. The "weak" wage growth will prove to be a drag on the overall economic recovery in the medium term as it will affect household consumption, the report by India Ratings and Research said. An environment of pandemic-led uncertainty and elevated inflation could impact the level of spending and hence the overall demand, it said.
An Allahabad high court bench of Justice Shekhar Yadav had on Thursday last urged the government and the poll panel to consider postponing the Uttar Pradesh assembly elections for a month or two and banning all political rallies amid the fears of an impending third wave of Covid.
'It's like the BJP is mocking people: Do what you want, we'll still win.'
Moody's on Thursday upped India's growth projection for the next financial year beginning April 1, to 13.7 per cent, from 10.8 per cent estimated earlier, on the back of normalisation of activity and growing confidence in the market with the rollout of COVID-19 vaccine. For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate of 10.6 per cent contraction.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
The suspension of US aid to Pakistan, which was announced by President Donald Trump in January 2018, remained in effect throughout 2019, the State Department said.
In the meeting on the prevailing COVID-19 situation, Modi reviewed the availability of medical infrastructure and directed officials to ensure rapid upgradation of health facilities, the PMO said in a statement.
Mahsa Amini's tragic custodial death in Tehran has triggered protests across Iran. Defiant, jean clad women minus their tunics and hijabs are marching in unison and shouting 'Down with the dictator' Women in Iran have been pushed to the wall and are no longer willing to abide by the restrictions placed on them, explains Rashme Sehgal.
Chief Minister Arvind Kejriwal inaugurated the 'country's first smog tower' at Connaught Place in New Delhi on Monday and said it will prove to be a milestone and many such structures can be installed in the city if the pilot project yields results.
Observing that India's worsening COVID-19 situation and the strict measures to contain it have hit the economy hard, the rating agency said productive capacity has been severely disrupted since the start of the pandemic.
The first bench of Chief Justice Sanjib Banerjee and Justice T S Sivagnanam of the Madras High Court also orally observed that firing upon the innocent public was a scar on Indian democracy and it should not be forgotten.
Three experts on cyber security, digital forensics, networks and hardware were roped in by the Supreme Court on Wednesday to "enquire, investigate and determine" whether Pegasus spyware was used for snooping on citizens and their probe would be monitored by former apex court judge R V Raveendran.
'What is taught here is a mockery of the English language.'
India has sent a team to Kabul to oversee the delivery of India's humanitarian assistance to Afghanistan and hold discussions with the Taliban over the aid provided by New Delhi.
Fitch Ratings on Monday cautioned that the Indian government has little fiscal headroom at its disposal to respond to possible shocks to growth given the country's lowest investment grade credit rating with a negative outlook. "India's public debt/GDP ratio, at about 87 per cent in FY21, is well above the median of around 60% for 'BBB' rated sovereigns. "We revised the Outlook on India's rating to Negative, from Stable, in June 2020, partly owing to our assumptions about the impact of the pandemic on public finance metrics. "The government has little fiscal headroom at its current rating level to respond to possible shocks to growth," it said in a report.
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
In a circular, the home ministry said the revised cash management system, formulated by the ministry of finance, has to be followed in view of the changes in tax receipt under the GST regime.
India's budget for the fiscal beginning April focuses on giving a boost to the ongoing economic recovery through a sharp increase in capex spending but is short on major growth-enhancing structural reform announcements, Fitch Ratings said Wednesday. The deficit targets present in the Union budget 2022-23 by Finance Minister Nirmala Sitharaman on Tuesday "are a bit higher than our forecasts when we affirmed India's 'BBB'/Negative sovereign rating in November," said Jeremy Zook, director and primary sovereign analyst for India, Fitch Ratings. While it was widely expected that the fiscal deficit will be lower than the targeted 6.8 per cent of the GDP in the current fiscal year ending March 31, 2022, Sitharaman put the number at 6.9 per cent.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
Gautambhai has shown that he has ability to withstand payment delays or vexatious court cases. That is where he is on a more comfortable wicket than many others. A revealing excerpt from R N Bhaskar's Gautam Adani: Reimagining Business in India and the World.
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