Singh asserted that the domestic challenges of India's economy were daunting in their complexity and devastating in their impact on the society.
India Inc on Friday said it is looking forward to a repo rate cut in future as cost of funds has to come down in coming times, and expects continuation of accommodative policy stance by the Reserve Bank of India (RBI). The RBI decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, as the economy faces the brunt of the second COVID-19 wave. Sanjay Aggarwal, president of PHD Chamber of Commerce and Industry, said the RBI has maintained an accommodative stance as long as necessary to revive and sustain growth on a durable basis and to mitigate impact of COVID-19, apart from an aim to keep inflation within the target.
In a bid to support revival of sectors hit most by the Covid-19 pandemic, Reserve Bank of India on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
'Rolling out the vaccine is not a major challenge in India.'
On November 12, 2021, the Reserve Bank of India (RBI) decided to ring in uniformity in asset classification and income recognition across all lending institutions. Shadow banks, or non-banking financial companies (NBFCs), like commercial banks, are to test non-performing assets (NPAs) on a daily basis and upgrade them to "standard assets" only when interest and principal arrears are settled by borrowers. This is going to create all manner of headaches for shadow banks and their clientele. Says Y S Chakravarti, managing director and chief executive officer (CEO), Shriram City Union Finance: "NPA levels will go up, especially of small borrowers.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. She rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term.
A second wave of Covid driven by the Delta variant engulfed the country in May-June bringing the health system to its knees and leaving people gasping for help.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Chief Economic Advisor Krishnamurthy Subramanian said China imports a lot of components, parts, assembles and integrates and then exports them.
'Both the BJP and SP have workers and cadres across the state, and now it will boil down to which party manages booths smartly and gets its voters to come out.'
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Timely preparation and picking the right questions will help you crack these examinations and secure a job.
The biggest challenge is crude oil's sustained rally - it is nearing $80 a barrel - stoking inflationary pressures and consequent price hikes in the sector.
'There are plenty of videos of boys drinking on social media; I have not heard of any boys being dismissed from college because of this.' 'They have been dismissed just because they are girls.'
In the beginning, the institute will function from a temporary campus situated in the heart of Patna. A senior official of the state government told rediff.com that IIM, Patna will be headed by rural marketing guru and Dean of Information Technology and Management Kozikhde V Mukunda Das.
'With over 50 per cent of medical seats reserved for those who have the ability to pay a fee ranging from Rs 50 lakh to Rs 1.5 crore for a five-year MBBS course and quotas in accordance with affirmative policies in government colleges, the band of seats available for the not-so-rich and non-OBCs is very narrow.'
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
'Education is disconnected from social reality and does not even attempt to solve the real problems of our country,' observe Peehu Pardeshi and Sandeep Pandey.
As an aerospace scientist, Kalam worked with India's two major space research organisations --DRDO and ISRO.
Indian Institute of Management Ahmedabad requires faculty and postdoctoral/research fellows in Centre for Management in Agriculture (CMA)
Former Union Minister and Congress leader Eknathrao alias 'Balasaheb' Vikhe Patil passed away at his residence in Loni village in Ahmednagar district of Maharashtra on Friday evening following prolonged illness, his family said. He was 84.
If purists are surprised as to why and how people are not demanding prohibition or not talking about past promises, both in the election manifestos five years back and even those made to the courts, the answer lies in how the state has been evolving and changing these past few years, says N Sathiya Moorthy.
The unidentified hackers had executed money transfers on two separate occasions - August 11 and August 13 - which raises the question of why pro-active measures were not taken on the first night itself
Nasal droplets fall within 2 metres from a COVID-19 infected person and the aerosols can travel in air up to 10 metres, the Office of the Principal Scientific Adviser said on Thursday, adding that proper ventilation can decrease the risk of transmission.
Softening rural consumption and the likelihood of weak corporate earnings in the March quarter saw investors dump stocks.
'Essentially there are three things the government should be doing: Identify who you are going to get your vaccine from, figure out how you are going to pay for it, and figure out how you're going to deliver it and to whom.'
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
Remember the trees that bend during the storm will survive; the ones that try to defy and stand straight tend to get damaged and uprooted, points out management guru Virender Kapoor.
Rediff reader Srinivas Samudrala, 58 from Telangana shares his story.
Colgate-Palmolive India is placing greater emphasis on freshness, whitening, therapeutic, and family toothpastes, as rivals such as Dabur and Patanjali dominate the growing naturals segment of the market. Once under 5 per cent of the Rs 10,000-crore domestic toothpaste market, the naturals segment, which includes ayurvedic and herbal variants, is now 25-30 per cent of the market, industry executives said. Growth rates of the naturals segment are estimated to be in the region of 8-9 per cent in volume terms. In value terms, the growth rate for naturals is around 10-12 per cent, sector experts said.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
The biggest spend (Rs 4,406 crore) was for Schedule VII (II), which involves "promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly and the differently abled and livelihood enhancement projects". The FY19 spend was 17.2 per cent higher than Rs 1,0128.3 crore spent during the previous year.
Speaking after virtually launching COVID-19 testing facilities in Noida, Mumbai and Kolkata, Modi said that in the fight against coronavirus, India has come to a point where it does not lack in awareness, its scientific data is expanding and resources are also increasing.
Of the 1,000 surveyed by IIM-A, only five were aware about the government-sponsored gold schemes
'Chinese experts estimate that the new US administration is 'at the crossroads of how to re-manage and control' Sino-American differences and strategic divergences and Biden's bottom line is that the US would have 'extreme competition with China, but won't allow competition to develop into conflict',' notes Ambassador M K Bhadrakumar.
What stocks will gain from a normal monsoon?
The world seems to have caught severe pneumonia, or worse, as China had flu.
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