Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
In a strong counter to the narrative building around reasons for the exit of Professor Pratap Bhanu Mehta, Ashoka University Chancellor Rudrangshu Mukherjee has said the institution remains committed to academic freedom and intellectual independence while its Board of Trustee Chairman Ashish Dhawan promised an open line of communication.
He has not been issued fresh summons and it is understood that his questioning has ended, at least for now.
The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
For now, the DMK can be expected to sound the bugle for Opposition unity at the national level, predicts N Sathiya Moorthy.
For those who enjoy stand up comedy, Comicstaan 3 makes amusing viewing, enough to lift the monsoon gloom, applauds Deepa Gahlot.
The Supreme Court on Wednesday agreed to hear on March 9 Bharatiya Janata Party leader Subramanian Swamy's plea seeking a direction to the Centre to declare 'Ram Setu' a national heritage monument.
The ministry said 151 out of the 578 people who contracted the infection have recovered or migrated.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
Tamil Nadu, Telangana and West Bengal reported their first COVID-19 variant Omicron cases on Wednesday, four more persons each tested positive in Maharashtra and Kerala.
The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent. On the industry demand for bringing petroleum products under GST net, he said since fuel constitutes a larger part of their revenues, both the Centre and states have some apprehension.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
Rajya Sabha Chairman M Venkaiah Naidu on Thursday said legislators across the country should be driven by passion, performance and procedural integrity, and desist from disrupting law-making bodies.
In his counter-affidavit, Radhey Shyam, who was recently released by the Gujarat government on remission, said that none of the petitioners are related to the case and are either political activists or "third party stranger".
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
It was after a gap of two decades that saw such an occasion where MPs of the upper house enthralled their fellow colleagues at a dinner hosted by Chairman and Vice President M Venkaiah Naidu for 72 retiring members.
The capital markets regulator exonerated former employees Subramanian Anand, Ravi Apte, and Umesh Jain, with respect to charges levelled against them.
Rediff readers shared photographs of sparrows.
We asked you to share pics of your Navratri celebration. This is what our readers shared.
The Tamil Nadu government will constitute an 'economic advisory council' to the chief minister comprising Nobel laureates, former Reserve Bank of India governor and other economic experts from around the globe to advise the state on how to reverse the economic slowdown.
Stalin called on Ravi at the Raj Bhavan here and urged him to expeditiously send the Bill to exempt Tamil Nadu from the purview of the National Eligibility cum Entrance Test for getting Presidential assent, an official release said.
Subramanian Swamy now wants Arvind Subramanian sacked.
Thennarasu said that while the governor had to grant his approval to the bill, he informed them it was still under his consideration.
The Places of Worship Act is 'An Act to prohibit conversion of any place of worship and to provide for the maintenance of the religious character of any place of worship as it existed on the 15th day of August 1947, and for matters connected therewith or incidental thereto'.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
The Survey adopts an unfettered approach in thinking about the appropriate economic model for India. This endeavour is reflected in the sky blue cover of the Survey, Chief Economic Adviser Krishnamurthy V Subramanian said.
"It's a welcome development, but we also feel it was long overdue... It's a recognition of the actions that the government has undertaken like GST, bankruptcy. We also need to keep all these things in perspective," Chief Economic Adviser Arvind Subramanian said.
These crispy masala vadas are called Chattambade in Karnataka.
'In contrast to the generally buoyant tone of the Economic Survey in January, he sounds uncharacteristically pessimistic, saying that forces in the world economy -- slowing global trade, protectionism, robots -- will limit India's manufacturing to levels well below what propelled East Asia's economies decades ago.'
The man had attended a stag party recently in Manali in Himachal Pradesh.
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
If the prime minister says clearly there is going to be no NRC and that the Census will drop the NPR questions, the Census will proceed. He will not, observes Aakar Patel.
The Congress, however, dubbed Swamy as the 'undeclared spokesman' of Modi.
The Devasthanam Board was assigned the management of 51 temples of the state, including the four famous Himalayan shrines of Badrinath, Kedarnath, Gangotri and Yamunotri.
Much to the disappointment of booklovers, Westland, one of the largest publishing houses in India, is being shut down by e-commerce giant Amazon, they announced on Tuesday.
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The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions, quite often misses on the GDP forecast, sometimes by a significant margin. This time, Finance Minister Nirmala Sitharaman will table the Economic Survey for 2021-22 in the Lok Sabha on Monday soon after the President's address to both Houses of Parliament. She will present the Union Budget for the next financial year beginning April 1, 2022, on Tuesday.
The Congress on Saturday attacked the Centre over a New York Times report which claimed that the Indian government bought the Pegasus spy tool in 2017 as part of a deal with Israel, alleging that the government indulged in illegal snooping using the spyware which amounts to 'treason.'
