Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
At an event at Chhatrapati Shivaji Maharaj Terminus in south Mumbai, Modi first flagged off the the CSMT-Solapur Vande Bharat Express and later another semi high-speed train linking the financial capital to Sainagar Shirdi temple town in Ahmednagar district.
He recalled that the state was home to Vaishali, said to be the oldest republic in the world.
In a boost to the electric vehicle boom in India, Taiwanese major Hon Hai Technology Group (aka Foxconn) is likely to set up an EV manufacturing unit in India through its subsidiary Foxtron. Amid speculation that the company may look at Tamil Nadu and probably the Ford India unit near Chennai for its new facility, sources indicate that the group was already betting big in the electric vehicle component space in India through Bharat FIH, which is already having a tie up with companies like Ola Electric and Ather. Bharat FIH currently has two manufacturing units in Tamil Nadu's Sriperumbudur that manufactures phones like Apple iPhones and Xiaomi phones.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
If necessary, she said, the Railways would provide scholarships. Banerjee, while inaugurating a railway reservation counter at Gariahat area, announced railway connectivity to Maoist-hit areas in West Midnapore and Purulia districts with introduction of two trains on February 13.
Adani group's 16.5 billion dollar controversy-hit coal mine project in Australia has cleared another hurdle with Brisbane supreme court dismissing an appeal filed by indigenous group against the project.
The Centre's ambitious Rs 6-trillion National Monetisation Pipeline (NMP) could fall short of yearly targets for the current fiscal year (FY22) and the next one as well (FY23), partly due to the long gestation period in monetising big-ticket railway infrastructure, Business Standard has learnt from sources in the finance and rail ministries. Officials say the major chunk of railway monetisation will happen from FY24 onwards because leasing some of the infrastructure, like stadiums and dedicated freight corridor, will not happen anytime soon. Rail infra is expected to be the second-biggest contributor to the NMP, with about Rs 1.52 trillion worth of assets to be monetised.
Citing media reports that China has built shelters in the Depsang area in Ladakh, the Congress on Saturday questioned the government's 'silence' over the issue and asked what steps were being taken by it to ensure status quo ante of April 2020.
BJP president J P Nadda on Sunday promised Uniform Civil Code (UCC) and 33 per cent reservation for women in government jobs in Himachal Pradesh while releasing the party's manifesto for the state assembly polls.
The third-quarter financials didn't excite market watchers. But equity investors can still make money if they invest in the right stocks.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
SpiceJet, IndiGo, Jet Airways, Alliance Air, and Turbo Aviation are among the operators that have bagged the routes in the third round.
He said his government's goal is to make Delhi a grand city equipped with all the facilities as expected of the capital of the country.
Even as Chinese troops continue squatting on territory that we claim as our own -- this was the lowest allocation for defence in percentage terms since the 1950s, reveals Ajai Shukla.
Taking to Twitter, the ministry shared the intelligence update and said, 'Russian forces have continued their advance on Kyiv with the bulk of their forces now 30km from centre of the city.'
"What would be your advice for investors?" 'Keep it simple. Don't panic.'
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
China criticised western attempts to "demonise" the BRICS.
Reliance ADAG Chairman Anil Ambani on Friday expressed hope that the Indian industry and the government will work as partners to seize the opportunity to create largescale infrastructure across all sectors in the country.
The Narendra Modi government plans to pump around Rs 12.61 lakh crore into the economy over seven years.
'The BJP's real weapons are Hindutva, organisation and finance.'
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.
The committee has been tasked to come up with policy measures to boost agriculture exports, raise growth in food processing, attract investments in modern market infrastructure, value chains and logistics.
In the Union Budget presented in Parliament by Finance Minister Nirmala Sitharaman, a total of Rs 1,52,369 crore has been set aside for capital expenditure that includes purchasing new weapons, aircraft, warships and other military hardware.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
The cabinet committee on infrastructure's clearance to big-ticket aviation projects, including the New Navi Mumbai airport, and plans to develop India as a civil aviation hub will help expedite the implementation of such projects, which are now caught up in challenges such as local opposition and land acquisition problems, say officials and experts.
Indian states are preparing for a Rs 1.9 lakh crore (Rs 1.9 trillion) tax windfall this fiscal year.
Capital goods output rose by a robust 20 per cent in the month under review as against a contraction of 2.4 per cent earlier.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
US-based Tesla is working through a lot of challenges with the government to launch its products in India, the electric car major's founder and CEO Elon Musk said on Thursday. Responding to a tweet on the company's plans to launch its products in India, Musk tweeted: "Still working through a lot of challenges with the government." Last year, Tesla had sought a reduction in import duties on electric vehicles (EVs) in India.
Over the last 16 years, India has seen more engineering and R&D investments in aerospace than the US or Europe.
The conclave will be held at the national capital from April 18-22 and will be chaired by Army Chief Gen MM Naravane.
In a move that may boost the Indian hydrocarbon industry and bring more investments into the sector, the Union Cabinet on Wednesday decided to give marketing freedom to domestic crude oil producers, allowing them to sell petroleum to any company in the local market. The move is set to be beneficial for major crude oil producers, such as state-run Oil and Natural Gas Corporation (ONGC) and Oil India, and private sector majors like Vedanta's Cairn Oil and Gas and Reliance Industries. As of May 31, India was dependent on imports for 86 per cent of its crude oil consumption; domestic production sufficed the remaining 14 per cent demand.
NDA government has shunned populism.
'The rate cut could have been higher in the current economic conditions which would have had a stronger impact on business sentiment and spurred investment in a big way.'
Modi gave directions to officials during a high-level meeting to review the status of COVID-19 and Omicron, the new variant of concern (VOC), and said "we should be 'satark' (vigilant) and 'saavdhan' (cautious)".
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