Indian Railways has tied up funds for the next two years for its ambitious modernisation programme.
With a narrow industrial base and dysfunctional politics, and a counter-productive national security agenda, Pakistan could well remain an 'international migraine', observes T N Ninan.
Led by healthy growth in coal, crude oil, fertilisers, cement and electricity production, output of eight core industries grew to a 13-month high of 18.1 per cent in May this year, according to official data released on Thursday. The growth of core infrastructure sectors expanded by 16.4 per cent in the year-ago period and 9.3 per cent in April this year. The last high growth was recorded in April 2021 when it was 62.6 per cent.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
In all likelihood, the next conventional Chinese attack on India would be preceded by a massive cyber attack designed to cripple Indian networks and interfere with our disaster-relief programmes.
According to Rajnish Kumar, the government investments alone cannot achieve it and there is a need for huge investments in the infrastructure sector which would result in boosting the GDP.
The agreement, dubbed "LaLiga Boost", buys CVC an 8.2% stake in a new company that will get broadcasting revenues and sponsorship rights for 50 years.
The prime minister, who is on a two-day visit to the state, inaugurated, laid the foundation stone of and dedicated to the nation, railway and metro projects in the state worth Rs 4,500 crore.
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
Opposition leaders slammed the Centre on Wednesday for its 'limited' focus on important sectors like health and education in the Budget for 2023-24 fiscal.
As part of the mega plan, around 20 bridges, a number of tunnels, airbases and several key roads are being developed in strategically key areas in Arunachal Pradesh to bolster the overall military preparedness, officials said on Monday.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
Nepal witnessed political turbulence in 2022 that dramatically turned rivals into allies and throned former guerrilla leader Pushpa Kamal Dahal 'Prachanda' as the prime minister for a third time, as Kathmandu made efforts to balance ties with immediate neighbours India and China with high-profile talks and visits.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
"I have appointed a task force to speedily identify the projects so that money can be frontloaded," she said.
Jaitley promised higher investment in roads and railways.
Overseas airlines can operate unlimited number of flights into and out of India.
About 30 airports have been either built or under construction in Tibet and Xinjiang provinces which will boost China's civil and military infrastructure in the remote regions bordering India, the country's official media reported.
There was hope in some quarters that the interim Budget would boost sentiment and lay the groundwork for kick-starting the investment cycle, while staying on a path of fiscal consolidation.
Prime Minister Narendra Modi is likely to announce a host of initiatives for the health sector on Independence Day with the highlights being the 'Heal in India' and 'Heal by India' projects and a roadmap to eliminate sickle cell disease by 2047, official sources said.
Prime Minister Narendra Modi on Friday said the government is committed towards procurement of agri crops at minimum support price (MSP) and termed it as an important part of the country's food security. He further said that efforts are being made to improve mandi infrastructure so that MSP buying continues in a scientific way.
In a submission to the federal government on the size of the immigration programme to be set in the May budget, Australian Industry Group has asked the government to increase intake of immigrants from 190,000 to 220,000 in 2014-15.
Australia beat India by nine runs to win the Commonwealth Games women's T20 cricket gold medal on Sunday but the real winner was the sport which delivered compelling competition and boosted its case to be included in the Olympics.
Industry players credit Sebi's first woman chairperson with putting special emphasis on cyber security, use of tech and data, areas where Sebi is trying to 'stay ahead of the curve'.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
Once the scheme is implemented 70-80 per cent of the freight would move along national highways as against the current 40 per cent, says Highways Minister Nitin Gadkari.
Budget should raise revenues & reduce spending to increase capital expenditure.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Hotel infrastructure needs a big boost in the coming years.
Board of Control for Cricket in India secretary Jay Shah also said that there are no immediate plans to add more franchises to the 10-team competition and that any future additions must not dilute the quality of the product.
Militancy in Jammu and Kashmir may have severely damaged the economic structure of the state but has not been able to decimate it.
In a bid to boost agriculture infrastructure, the government on Monday announced a cess on certain items, including petrol, diesel, gold and some imported agricultural products. While proposing the Agriculture Infrastructure and Development Cess (AIDC), Finance Minister Nirmala Sitharaman also said that care has been taken not to put additional burden on consumers on most items. There is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently, the minister said in her Budget Speech in Lok Sabha.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
The Telecom Regulatory Authority of India on Monday proposed a Rs 8,000 crore (Rs 80 billion) subsidy for creating necessary infrastructure in rural areas to take the tele-density there from the current below two per cent to 15 per cent by 2007.
Theoretically, there is an inverse relationship, but other factors need to fall in place for it to work well this time
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