India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said.
Addressing Indian workers at a medical camp in downtown Doha, Modi said he is aware of the issues being faced by Indian workers and the companies that bring them here.
Though the summer is expected to be hotter, global and domestic forecasts point to good rains.
After imposing 20 per cent export duty on non-basmati rice, the government has banned the export of broken rice with an aim to increase domestic availability, according to a government notification.
Equity investors' wealth jumped by over Rs 10.19 lakh crore in the three-day market rally to Monday. On Monday, the 30-share BSE Sensex soared by 1,041.08 points or 1.90 per cent to settle at 55,925.74. In three days, the bechmark has zoomed 2,176.48 points or 4 per cent. Helped by jump in equities, the market capitalisation of BSE-listed firms went up by Rs 10,19,936.84 crore to Rs 2,58,47,092.40 crore in three days.
The Reserve Bank of India on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent to tame inflation.
The south-west monsoon that had held itself back all through three weeks of the Sri Lanka-South Africa cricket Test series finally lashed Colombo on Friday.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
Markets ended in green on rate cut hope.
Over the last few months, the Indian economy has been on nothing short of a roller-coaster ride.
Weak monsoons will affect agricultural output as well as industrial sector (as demand cools off). \n\n
Some glimpses of the torrid Indian summer
Some glimpses of the torrid Indian summer
The IPCC has blamed man-made emissions for warming of the globe and long term climate change. Limiting climate change, therefore, will require substantial and sustained reduction of greenhouse gas emissions. This is the message to politicians and policy makers of the world, says Dinesh C Sharma
On a train through eastern India in the rainy season, the British Broadcasting Corporation has produced a documentary film that charts the everyday lives of those involved in running the Indian Railways.
A boat with three AK-47 rifles and bullets was found off the Raigad coast in Maharashtra on Thursday, officials said adding that there was no security threat.
A head of its meeting, the Reserve Bank of India (RBI) can take some solace from the softening food commodity prices. However, the events surrounding the last few weeks show that the fall may not be uniform across all commodities, and cereals like wheat and rice could be the outliers. A Reuters report said that local wheat prices jumped to a record Rs 23,547 per tonne on Wednesday. That is a 12 per cent rise from the recent lows that followed the government's surprise ban on exports on May 14.
This year saw no improvement in bilateral ties as India accused Pakistan of cross-border infiltration and re-activation of terror-launching pads near the LoC.
'He made me feel like a crorepati even without sitting in the hot seat.'
The RBI on Wednesday cautioned that while the Indian economy appears capable of weathering the deterioration in geopolitical conditions amid the ongoing Russia-Ukraine war, it faces headwinds from global spillovers from geopolitical tensions, elevated commodity prices and moderating external demand. The RBI, however, did not tinker with the GDP growth projection made in April. It had slashed the GDP growth projection for the fiscal 2022-23 to 7.2 per cent from its earlier forecast of 7.8 per cent.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
Prime Minister Narendra Modi Monday said M Venkaiah Naidu's witty one-liners were 'revered, and never countered', and hailed his highly productive five-year term as vice president of India and Rajya Sabha chairman.
Trinamool Congress MP Derek O'Brien said the situation in Bihar is one of the reasons behind the Parliament session being cut short by the government.
In Tripura, the challenge for the chief minister is less from the alliance partners and more from his own party, the BJP.
The fact is that it will take two to three years to fix the economy, and it would be advisable to say as much and manage expectations.
The aid will directly benefit 25,000 people from some of the worst hit areas of the state, adding a humanitarian expert from the European Civil Protection and Humanitarian Operations has also been deployed to assess the situation in the state.
The current spell of weak monsoon over the country is likely to continue for the next five days, the India Meteorological Department (IMD) said on Wednesday.
Day 5 of Parliament's monsoon session 2020. Watch all the action in both houses LIVE here.
'This year there is a sharp spike in fever cases, and it seems to be more than the pre-COVID-19 levels.'
The government expects the rollout of 5G services to start from early October in the country, Union minister Ashwini Vaishnaw said on Saturday. "As soon as the spectrum auction ends, within a few days itself, we will allocate the spectrum. "We expect that the 5G roll-out will happen from the beginning of October and within a year or so, we should have a good rollout in the country," the Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw told reporters in New Delhi.
NSO Group, an Israeli surveillance software company, has been under increasing attack following allegations that its Pegasus phone spyware was used for surveillance on journalists, activists and political leaders in several countries including India. NSO has denied any wrongdoing.
A decision to tap the 30 countries for exporting wheat was taken at a meeting of the commerce ministry on Thursday.
While nearly 200 members were present in the Lok Sabha chamber, a little over 30 were seated in the visitors' gallery located above the main chamber.
Growth has been under pressure since the lockdowns related to Covid-19 started and fresh prescription generations slowed.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
A government source on Saturday said that the matter related to Pegasus software is being monitored by a committee under the Supreme Court and its report is awaited.
Surface temperatures have increased rapidly during the past century, leading to an increase in the frequency and intensity of tropical storms in the Arabian Sea, reports Sanjeeb Mukherjee.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
The human resource development ministry is slated to introduce a bill in the monsoon session of the Parliament to provide for an internationally acceptable certification for Indian engineers.
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