The defence budget was increased to Rs 5.94 lakh crore for 2023-24, up from last year's allocation of Rs 5.25 lakh crore.
India can become the number one automotive manufacturing hub in the world within five years, but auto companies need to enhance safety features to reduce deaths due to road accidents, Union Minister Nitin Gadkari said on Thursday. In his inaugural address at the Auto Expo 2023 here, the minister for road transport and highways asserted that the government's target is to reduce these accidents by 50 per cent before the end of 2024 while asking the auto industry to take suo moto action for road safety as the government doesn't want to make anything mandatory. Gadkari's sentiments were also echoed by Minister of Heavy Industries Mahendra Nath Pandey, who lamented that while India has only 1 per cent of the total overall vehicles, the country accounts for 11 per cent of the total global deaths due to road accidents.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
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.
This sort of property is better suited for an investor rather than an end user.
With Nirmala Sitharaman's Budget presentation lasting for about one hour 31 minutes on Tuesday, the finance minister's budget speech this year became the shortest ever since 2019.
Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October.
Hyderabad will host India's first ever ePrix on February 11.
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.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
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.
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Jaitley promised higher investment in roads and railways.
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.
Overseas airlines can operate unlimited number of flights into and out of India.
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.
"The (BCCI) recognition has happened but there is no roadmap for our sport, no one knows what's happening. We have also brought glory to the country on the cricket field and deserve to get (BCCI's) central contract," added Reddy.
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.
"I have appointed a task force to speedily identify the projects so that money can be frontloaded," she said.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
India needs significantly more domestic wherewithal to achieve and sustain the stated objective of 7-9 per cent growth.
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.
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.
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.
Budget should raise revenues & reduce spending to increase capital expenditure.
Militancy in Jammu and Kashmir may have severely damaged the economic structure of the state but has not been able to decimate it.
Accusing the Congress of also abusing the dominant Lingayat community in poll-bound Karnataka, the prime minister further said the grand old party had even abused Babasaheb Ambedkar and were engaged in abusing Veer Savarkar.
Hotel infrastructure needs a big boost in the coming years.
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.
Stocks to watch: BHEL, L&T, IRB Infra and Suzlon
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.
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.
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
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.
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.
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.
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.
Theoretically, there is an inverse relationship, but other factors need to fall in place for it to work well this time
Though FDI inflow has been on the rise in the past three years, it is mostly on account of services
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.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances