India's inflation trajectory in the coming months will be influenced more by the geo-political situation due to the war in Europe and its impact on supply chains and commodity prices. However, the country is better placed than most to "weather the storm" and achieve growth of close to 8 per cent in the current fiscal year, the finance ministry said in its latest monthly economic report on Thursday. "Through the channel of imports, elevated global crude and edible oil prices now have a significant impact on India's inflation outlook. "Government measures to keep the prices of these commodities in check, along with the recent hike in policy rates by the RBI, are expected to temper inflationary pressures in the economy," the monthly economic report for April, drafted by the finance ministry's economic division, said.
Prime Minister Narendra Modi on Monday said the Centre along with states is making efforts to control lumpy skin disease in cattle.
'India's economy is growing faster compared to the developed economies of the world.' 'More importantly, it is growing faster compared to most of the developing economies.' 'The monsoon is not the only thing that drives the rural economy and certainly not the national economy.' 'It is too simplistic to reduce everything to the monsoon.'
Nearly a decade ago, the first fully electric vehicle (EV) caught fire on the road in the US. It was a model from Tesla, the world's most admired EV maker. A metal fragment punctured the underbelly of the vehicle, penetrating its battery pack, leading to a fire. Indian lawmakers and automakers have had nine years to study the incident (in fact, three Tesla Model Ss caught fire in two months in 2013) but seem to have learnt little.
As India goes into firming up trade deals with developed nations like Australia, the United Kingdom (UK) and the regional bloc, and the European Union (EU), it will have to be well prepared to negotiate on new-generation issues, such as data protection regulation, e-commerce, and environment. India is yet to negotiate pacts with its trading partners on these evolving issues since discussions between them have until now been largely focused on tariff and non-tariff barriers and the rules of origin. "We can no longer look at trade just as trade. We have to look at it in totality of global and regional conditions.
As oil marketing companies (OMCs) stare at huge under-recoveries, India is facing fuel shortage across the country with states like Rajasthan, Madhya Pradesh, Karnataka Uttarakhand, Gujarat and Haryana being the worst hit. The under-recoveries suffered by OMCs are around Rs 20-25 a litre for diesel and Rs 14-18 a litre for petrol, said sources. Government and state-run companies denied reports of any crisis or supply-side issues on the availability of fuel.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Of the total 166 names declared so far by the Congress, 119 candidates will be making their electoral debut.
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.
.jpg)
For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
Prime Minister Narendra Modi's call to make this decade a "techade" for India and the push for 5G, semiconductors and transformation through digital services is going to boost the technology sector in the country, industry players said on Monday. Modi, in his speech on the 76th Independence Day, touched upon all-round development of technology in the country, from 5G to push for electronic chips, laying of optical fibre cable (OFC) network across villages and enablement of digital entrepreneurship in villages through Common Services Centres, making the present decade as "techade" for India. Homegrown mobile devices maker Lava International's Chairman and Managing Director Hari Om Rai said electronics and technology sectors create about $4 trillion of revenue.
The sanctioned individuals and their immediate family members are prohibited from entering the mainland, Hong Kong and Macao of China. They and companies and institutions associated with them are also restricted from doing business with China, according to the statement by the Chinese foreign ministry.
On Sunday the Ukrainian Tennis Federation urged the sport's governing body the International Tennis Federation (ITF) to immediately expel Russia and Belarus from the organisation and ban Russia from team and individual tournaments. Also, athletes from Ukraine and other nations have called on the International Olympic Committee (IOC) to suspend Russia and Belarus and ban their athletes from events immediately.
Russia's invasion of Ukraine was condemned by the sporting community on Thursday, with President Vladimir Putin's country losing hosting rights for the UEFA Champions League final while Formula One drivers said it was "wrong" to race there this year.
BharatPe co-founder Shashvat Nakrani has accused Ashneer Grover, with whom he had co-founded the payment startup, of creating a false narrative about the company, and said the board acted quickly and decisively in unseating him after receiving finds of a PwC report. BharatPe, which allows shop owners to make digital payments through QR codes, last week stripped Grover of all titles and positions over his alleged "misdeeds" and may take further legal actions, including clawing back of some of his shareholding. In a letter to employees, Nakrani said the Grover episode was an aberration and not the norm at BharatPe, and went on to defend the board who he said were celebrated names in the banking and financial services industry.
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.
The new project will be associated with research themes featuring the exploration of transportation means, energy and food on the Red Planet.
Double Olympic medallist PV Sindhu will spearhead the women's challenge in both the Commonwealth and Asian Games while London Olympics bronze winner Saina Nehwal did not expectedly feature in the squads.
By simply being educated and acquiring a degree, you cannot earn money; you need to be skeducated. Skeducation is skill based education. Unfortunately they don't teach you this in the colleges. You got to do it yourself, advises management guru Virender Kapoor.
There is considerable speculation as to whether this award would have any bearing on another Vodafone-type case, namely, the ongoing tax-related arbitration proceedings with Cairn Energy.
The ED, early this year, also attached assets worth Rs 78 crore "in possession of" Chanda Kochhar, Deepak Kochhar and the companies owned and controlled by him.
The pandemic has led to the International Finance Corporation massively ramping up its impact investment in the country - its largest client nation globally - at $1.7 billion as of June, a 51 per cent rise over the past 12 months, the largest developmental lender into third world private sector said on Tuesday. This is nearly half of its investment in the whole of South Asia since the pandemic, which touched $3.8 billion as of June 2021, it said. "Our total commitment to India, which is our largest client country globally, at the end of June stood at $1.7 billion representing an increase of over 51 per cent from last year," IFC vice-president for Asia and the Pacific region Alfonso Garcia Mora said in a statement.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
'If the Russian forces do capture Kyiv and set up some sort of provisional government, they might run into an insurgency, for which the geography is just right, it could prove costly for them.' 'In that event, the whole exercise could turn out to be counter-productive -- and costly in both foreign policy and domestic terms.'
India's ODI specialist Ambati Rayudu announced his retirement from first-class cricket to focus on One-Day Internationals and T20s.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Retrospective claims may not stand the test in international courts.
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.
Indian 'Vedas' have since thousands of years considered sun as at soul of the universe and a nourisher of life, the PM said.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
Bibhu Prasad Routray explains why the US is supporting Japan's resolve to release 'treated' radioactive waste water into the Pacific Ocean. And what role China plays in the US decision.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
The agency is also preparing to analyse the details of assets of the Kochhars and others so that they can be provisionally attached under the Prevention of Money Laundering Act
The health system is trying to ensure that it isn't caught by surprise -- the way it was last time. So, hectic preparations are on.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances