The BJP claimed that the attackers were TMC-backed goons, accusing the Mamata Banerjee government of allowing violence against opposition leaders even in times of humanitarian crisis.
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
In other words, more and more Indian adults are staying away from their parents. In many cases, that's limiting their concern to those that they live with.
Focus should be on integrating India into regional trade blocs and helping professional services transcend borders.
The Indian economy suffers deep structural flaws that piecemeal measures in the Budget are unlikely to solve.
Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
The Calcutta high court on Tuesday set aside the promulgation of prohibitory orders under Section 144 of CrPC at Sandeshkhali, which has been witnessing protests over the last one week.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).
'Interim Budget has ignited the entrepreneurial spirit.'
The Bharatiya Janata Party surprised many with its latest list of Lok Sabha candidates for West Bengal, nominating a protester from Sandeshkhali for the Basirhat constituency and changing the seats of its two incumbent MPs -- the party's former state chief Dilip Ghosh and ex-Union minister Debasree Chowdhury.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Gold jewellery demand in India is likely to decline in the second and third quarters of this fiscal due to hike in import duty, high volatility in prices and inflationary pressure, according to a report. While demand is likely to contract by 8 per cent year-on-year in the second quarter of FY23, the decline is expected to be higher at 15 per cent in the third quarter due to the exceptionally high base in the same period of FY22, Icra said in a report. According to the report, the exceptional third quarter performance in FY22 was due to the post-Covid reopening of the economy and the substantially high demand in the wedding and festive seasons.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
It was learnt that once Kishan conveyed his decision, Tripura selector Jayanta Dey wanted Wriddhiman Saha and he was also contacted.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
States may face a GST compensation shortfall of Rs 3 lakh crore in the next financial year, a situation that will force them to borrow more from the markets, says a report. The states may face a shortfall of Rs 2.7-3 lakh crore as Goods and Services Tax (GST) compensation from the Centre next fiscal. Out of that amount, the shortfall from cess collections will be at Rs 1.6-2 lakh crore, according to an Icra report released on Monday. In FY21, the states were facing a shortfall of Rs 1.1 lakh crore in GST compensation from the Centre but over 90 per cent of that amount has been cleared now.
The escalating trade war between China and the US could be an opportunity for India.
In the current financial year, the Centre released nearly Rs 1 lakh crore compensation to the states till September.
Policy discussions now should urgently focus on the road map for serious economic and institutional reforms to put India on a sustained high growth trajectory like the Chinese economy, says Jayanta Roy.
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
Prabhu's maiden Railway budget is high on vision.
Positive cues from China - which accounts for 56.5 per cent of global crude steel production - are likely to keep demand-supply in balance and provide support to prices. All eyes have been on China, which opened after New Year holidays, as it was widely expected that prices would recover post-holidays after the weakness in January. Jayanta Roy, senior vice president, ICRA pointed out, barring last year when Covid-related restrictions affected China's steel demand in February 2020, historical trends show a typical upward movement in steel prices post-new year festivities. China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January.
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Political economist Jayanta Roy Chowdhury analyses the 2016 West Bengal assembly election results.
A high voter turnout of nearly 71 per cent was recorded till 5 pm on Saturday in West Bengal's four assembly constituencies where bypolls were held, an official said.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Jayanta Roy Chowdhury reports on how the West Bengal elections are being fought by the BJP and Trinalool Congress amid COVID challenges, 'Bangaliana', and campaigns based on religion, region, and caste.
Aided by the new initiatives of the government, there has been a huge drop in imports
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
'It doesn't help to transpose the Hindi heartland model on Bengal. Bengalis don't understand its dynamics. They won't comprehend the impact of Modi's dip in the Ganga because Bengal's political culture is different. Even in the Ramakrishna Mission Ashrams, Christ is worshipped on Christmas. It's difficult to polarise Bengal religiously'
He may try to keep it as natural as he can but there's no doubt that he's stolen a piece of everyone's heart, and some of these pictures are proof of that.
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