The IMF on Tuesday cut India's economic growth forecast by 0.5 percentage points to 9 per cent for the current fiscal year, with its chief economist Gita Gopinath saying that the slight downgrade is mainly due to the impact of the spread of the Omicron variant. "If you look at the 2021-22 fiscal year, we have a slight downgrade of -0.5 percentage points and for the next fiscal year 2022-23 we have a slight upgrade of 0.5 percentage points. So, growth for the previous fiscal year is now nine per cent and for this year now is at nine per cent. We moved it up slightly," Gopinath told reporters during a news conference in Washington. In its latest update of World Economic Outlook on Tuesday, the International Monetary Fund has cut India's economic growth forecast to 9 per cent for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections on concerns over the impact of the spread of Omicron on business activity and mobility.
Obama seeks reduction of nuclear arsenal in India and Pakistan while Pakistan seeks NSG membership
He said Pakistan was working with the international community to ensure the security of its nuclear installations, which were always in safe hands.
With the disruption caused by the second wave of Covid-19 pandemic, the 'fear of unknown' is looming over the government's privatisation drive. Although there is a lot of uncertainty and unpredictability on how things will unfold, the government is hopeful of completing the transactions listed in the Budget with a delay of one to two months, said a top government official. However, "there are many unknown factors now, and we do not know whether there could be a third wave. But we are trying to carry on with our work", the official said." Since there is a lot of uncertainty, the estimates will have to be revised as rating agencies are revising their outlook for growth.
Nehru's faith in science and technology, his genuine respect for Bhabha, and their burning ambition worked synergistically to place India on the nuclear map of the world. Atomic energy developed and prospered because of Nehru's vision fulfilled by Bhabha's mission, recalls K S Parthasarathy, former secretary of the Atomic Energy Regulatory Board, on the occasion of India's first prime minister's 119th birthday today.
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
The Nobel Prize for Malala may have caused deep divisions across the globe and disturbed the peace, while the award to OPCW, though not without critics, may have served the cause of peace by eliminating a weapon of mass destruction from the face of the earth, says Ambassador T P Sreenivasan.
S&P Dow Jones Indices on Tuesday said it will remove Adani Ports and Special Economic Zone from its sustainability index following reports of its business ties with Myanmar's military that has been accused of human rights violations after a coup. The Adani Group firm is building a $290 million port in Yangon. In a statement, S&P Dow Jones Indices said: "Adani Ports and Special Economic Zone will be removed from the Dow Jones Sustainability Indices following a media and stakeholder analysis triggered by recent news events pointing to heightened risks to the company regarding their commercial relationship with Myanmar's military, who are alleged to have committed serious human rights abuses under international law."
Saudis are interested in expanding their relationship with India, given it is becoming the main driver of crude demand growth in Asia
OPEC's move to cut output has pushed up oil prices. From here it could go either way: oil could reach $100/barrel or an analysis of demand and supply might follow, say Abheek Barua & Bidisha Ganguly.
Chinese Foreign Minister Wang Yi on Sunday met Sri Lanka's top leadership and discussed a host of issues, including the debt crisis faced by the island nation, investments, promoting tourism and the fight against the COVID-19 pandemic as the two countries marked the 65th anniversary of diplomatic ties.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
Since jobs will remain scarce for the foreseeable future, an unemployment allowance should be the next big social-security initiative, suggests T N Ninan.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
In a late-night tweet in capital letters, he said Iran must 'never, ever threaten the United States again'.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
Further deterioration of the US-Saudi relationship will have geo-economic and geopolitical effects, says Nitin Pai.
A picture showing Indian flag placed upside down during the meeting of two ministers went viral. The picture was released by photo agencies.
China's GDP grew by 4.9 per cent in the third quarter, down from 7.9 per cent in the second, confirming the slowdown of the world's second-largest economy which was under pressure from the crisis-hit property sector, curbs on energy and tardy recovery from the Covid-19 pandemic.
With the weaker-than-expected agreement at the recent Climate Change Conference at Lima, there is an urgent need to highlight endeavours in civil society and business for a sustainable global economy with grassroots empowerment, say Rajni Bakshi.
"I am also quitting as member of Legislative Council," Thackeray said in a webcast.
BWith a distracted president brooding in the White House, Pompeo seems to think his day has come. He seems to be pushing a personal agenda before a target audience in America, observes Ambassador M K Bhadrakumar.
Informing the world leaders of measures taken by him, Modi said India will continue to accord a high national priority to nuclear security through strong institutional framework, independent regulatory agency and trained and specialised manpower.
Information released by Israel provided new and compelling details about Iran's efforts to develop missile-deliverable nuclear weapons, says WH.
He said the US will apply other punitive measures if Tehran does not give up its reported goal of developing nuclear weapons.
This would make India the world's second-biggest nuclear energy market after China
More than a dozen organisations, businesses and clean energy venture capitalists have appealed to US President Barack Obama to collaborate with Prime Minister Narendra Modi to develop a "Power India" initiative.
Specially designated global terrorist Sirajuddin Haqqani, who carries a reward of $10 million US bounty on his head, is the acting interior minister while his uncle -- Khalil Haqqani -- has been named as acting minister for refugees.
"Prudence and caution" needs to be exercised, warns China.
Prime Minister Manmohan Singh on Friday batted for nuclear power as a "dependable and clean option", even as he underlined the need to ensure that all ingredients by which nuclear fuel is made remain safe and do not fall in the hands of terrorists and anti-social elements.
Tata Power will target 10,000 micro grids across India, for which it has formed a company, TP Renewable Microgrid.
UK's Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover $1.2 billion ordered by an international arbitration tribunal. The firm has moved courts in the US, UK, Canada, France, Singapore, the Netherlands and three other countries to register the December 2020 arbitration tribunal ruling that overturned the Indian government's Rs 10,247 crore demand in back taxes and ordered New Delhi to return $1.2 billion in value of shares it had sold, dividends seized and tax refunds withheld to recover the tax demand. With the government so far refusing to honour the arbitration award and instead choosing to challenge it, Cairn is looking to enforce it by seizing overseas Indian assets, Dennis Hranitzky, head of the sovereign litigation practice at Quinn Emanuel Urquhart & Sullivan, a law firm representing the company, told PTI.
The highest cap for the capacity would be 2 GW and can be set up in tranches at whatever location the project developer deems fit.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
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India, along with the United States and Pakistan, has voted against a provision in a United nations resolution calling on to 'promptly' accede to the Non-Proliferation Treaty as non-nuclear-weapon nation 'without conditions' and to place all its nuclear facilities under International Atomic Energy Agency safeguards.
Given Narendra Modi's trust in him, Praful Khoda Patel is unlikely to back down in Lakshadweep.
As CAG found Reliance Industries was being favoured in gas exploration deal to the government's detriment, former Prime Minister Manmohan Singh told the then top auditor Vinod Rai that audit should not hurt the private sector and RIL was one of the biggest and most respected.
Secretary of State John Kerry arrived in New Delhi onto participate in the fourth round of Indo-US strategic dialogue even as US announced to invest $100 million in India's burgeoning clean energy sector.
Asserting that both Prime Minister Narendra Modi and Chinese President Xi Jinping are 'responsible' leaders, Russian President Vladimir Putin on Saturday said they both are capable of solving issues between the two countries, and that it was important that no 'extra-regional power' should interfere in the process.
'I believe we have already missed the opportunity to cancel ... We have been cornered into a situation where we cannot even stop now. We are damned if we do, and damned if we do not.'
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