Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime.
China on Tuesday inked an agreement worth a whopping USD 4.8 billion with cash-strapped Pakistan to set up a 1,200-megawatt nuclear power plant as a sign of increasing strategic cooperation between the two all-weather allies.
Pranab Mukherjee inspected the fleet along with Prime Minister Narendra Modi from aboard the INS Sumitra.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
During the virtual meet, Biden and Modi will discuss cooperation on a range of issues, including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, White House Press Secretary Jen Psaki said.
Saudi Arabian Crown Prince Mohammed bin Salman arrived in New Delhi on a three-day state visit during which he will hold a bilateral meeting and co-chair the first leaders' meeting of the Strategic Partnership Council with Prime Minister Narendra Modi.
In this exclusive interview with Rediff.com's Suman Guha Mozumder,Time International's new Editor Bobby Ghosh discusses Iraq, India and the New Journalism.
A fascinating conversation with one of the world's finest reporters.
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
Prime Minister Narendra Modi on Friday met Israeli President Isaac Herzog and underscored India's support for an early and durable resolution of the Israel-Palestine issue through dialogue and diplomacy.
Describing the DAD as the "guardian of defence finance", he emphasised the need to bolster the internal vigilance mechanism so that any suspicious activity can be detected and reviewed immediately.
In an address at the Indian Council of World Affairs, he said Nepal wants to take the relations with India to the next level, but at the same time added: "We should be mindful equally that healthy relations require continuous nurturing, creative thinking, promptness and readiness to understand each other in changing dynamics."
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
She also addressed the Indian Community at a reception held in her honour in Jakarta.
Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title.
'While intensification of fuel prices and broad-based domestic cost pass-through pressures is a downside risk, core inflation is expected to strengthen further as demand recovers to pre-Covid levels,' the ministry said on Friday.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
'It's vital that over the next 10 years, that India, the US and the Artemis Accords family of nations come together to ensure that we not only return humanity to the moon, but that we build the technology that will allow us stay there permanently.' 'And then go on to Mars.'
'The Weather Channel argues that India faces the gravest challenge: Climate change-induced health vulnerability.' 'This is an issue often neglected, alerts Claude Arpi: "Prolonged summers, unpredictable rains, floods, droughts, and rising sea levels are the harsh realities of climate change in the country. These factors increase the frequency and severity of illnesses, pushing people into poverty, and forcing migration".'
India's dream to be in the forefront of international politics has come true. India has placed itself firmly as a major player in the shaping of a new world order, observes Ambassador T P Sreenivasan.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
Manmohan Singh and Musharraf felt that what they were embarking upon, if successful, could lead to a future of boundless potential for the two countries and for the relationship that was hard to foresee from the prism of the existing situation and the historical position and orthodox ideas on both sides.
Monetary Policy- Easing expected to happen later this financial year.
'What impresses about this sweet-n-simple tale is the manner in which this production has been put together with an economical narrative by first time directors Devanshu Kumar and Satyanshu Singh,' notes Joginder Tuteja.
India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
After a year's delay due to COVID-19, the 19th Asian Games officially opens in Hangzhou on Saturday with hosts China eager to lift a country mired in economic gloom.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
The Opposition parties need to spell out how exactly they will protect the citizen from government excess, asserts T N Ninan.
'In 1984, Pyongyang just had one hotel and one could not move out without an official escort.' 'India was the only country with an embassy, apart from the socialist countries.'
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Modi held comprehensive talks with Singapore Prime Minister Lee Hsien Loong on ways to enhance cooperation in key sectors including trade and investment.
There was a discussion on trade matters, market access, regulatory issues and barriers. Both leaders underlined the importance of free and fair trade
Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance. Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.
The phone conversation came days after it emerged that Modi will not be travelling to Russia for the annual India-Russia summit this year.
India's GDP is estimated to grow at 7.4 per cent in the financial year 2022-23 with rising prices triggered by the Russia-Ukraine conflict posing as the biggest challenge to the global economic recovery, Ficci's Economic Outlook Survey released on Sunday said. According to the survey, the Reserve Bank of India (RBI) is likely to start a rate hike cycle in the second half of 2022, while a repo rate hike of 50-75 bps is expected by the end of the current fiscal. The RBI is expected to continue supporting the ongoing economic recovery by keeping the repo rate unchanged in its April policy review, the survey said.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
The members resolved to foster a global economic governance architecture that is more effective and reflective of current global economic landscape
The prime minister will leave for the Indonesian city of Bali on Monday on a three-day visit to attend the summit that is expected to deliberate extensively on pressing global challenges including the Ukraine conflict and its implications.
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