India's production-linked incentive (PLI) scheme, which aims to make domestic manufacturing globally competitive, has attracted investment worth over Rs 45,000 crore and has also created three lakh jobs, NITI Aayog CEO Parameswaran Iyer said on Monday. The government has rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advanced chemistry cell and speciality steel. "The PLI programme has already started showing results.
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.
Hakki Pikkis are a semi-nomadic tribe, traditionally of bird catchers and hunters, from Karnataka. Their knowledge of the forest and traditional medicine is extensive and is prized by the Sudanese community.
Avoiding an answer on whether the ministry was seeking a ban on such advertisements, the minister said there should be a 'consensus' on such matters.
Prime Minister Narendra Modi arrived in Bali on Monday for the G20 Summit and bilateral meetings on its sidelines with key leaders attending this annual conference of the world's major economies.
The Russian defence ministry on Wednesday said its armed forces are ready to take all necessary measures for the safe evacuation of Indian citizens from the eastern Ukrainian city of Kharkiv.
Despite the hope that lessons will be learnt, the next accident invariably shows that nothing has been learnt -- or if learnt, they have been ignored, observes Prosenjit Datta.
Critics have even suggested that India is doing this because it is not prepared to take on the requirements of TFA, with a relatively weak trade infrastructure.
Sri Lanka's ministry of defence on Tuesday ordered the army, air force and navy personnel to open fire on anyone looting public property or causing harm to others amidst violent protests in the island nation over the unprecedented economic crisis.
According to the government, it symbolises a shift from erstwhile Rajpath being an icon of power to Kartavya Path being an example of public ownership and empowerment.
Cabinet secretary calls meeting to review the impact of inflation on essential commodities.
The cooking oil national industry body -- Solvent Extractors' Association (SEA) of India has suggested immediate initiation of government to government (G2G) dialogue with Indonesia on the proposed palm oil export ban from April 28 by them as it would have an adverse repercussions in India. Indonesia, which is the world's largest producer of palm oil and meets nearly 50 per cent of the total palm oil requirement in India annually, had announced to ban exports till further notice apparently to contain edible oil prices in their domestic market. "We have suggested our government initiate dialogue with Indonesian counterparts at the highest diplomatic level on the cooking oil export ban.
Snapping the two-month easing trend, WPI inflation rose in August and remained in double-digit for the fifth consecutive month. In July 2021, WPI inflation stood at 11.16 per cent. In August 2020, WPI inflation was at 0.41 per cent. "The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum and natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year," the commerce and industry ministry said in a statement.
Retail inflation hit an eight-month high of 6.07 per cent in February, remaining above the RBI's comfort level for the second month in a row, while wholesale price-based inflation soared to 13.11 per cent on account of hardening of crude oil and non-food item prices, government data showed on Monday. The previous high for retail inflation was 6.26 per cent in June 2021. The consumer price index (CPI) based retail inflation, which is taken into account by the Reserve Bank of India (RBI) while deciding its monetary policy, rose mainly because of costlier food items, as per the data released by the National Statistical Office (NSO).
The wholesale price-based inflation surged to more than a decade high of 14.23 per cent in November, mainly due to hardening of prices of mineral oils, basic metals, crude petroleum and natural gas. WPI inflation has remained in double digits for eight consecutive months beginning April. Inflation in October this year was at 12.54 per cent, while in November 2020 it was at 2.29 per cent. "The high rate of inflation in November 2021, is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products etc as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement on Tuesday.
The New Delhi Municipal Council on Wednesday approved a proposal to rename Rajpath as 'Kartavya Path'.
An IAF flight carrying Indian student Harjot Singh, who was shot in Ukrainian capital Kyiv a few days ago, landed at the Hindon airbase in New Delhi on Monday evening, officials said.
Modi said India's next general elections will be held in 2024 and he invited G20 delegates to visit the country to witness the "festival of democracy" in the "mother of democracy".
Prime Minister Narendra Modi will on Thursday inaugurate the newly-christened Kartavya Path -- a stretch from Rashtrapati Bhavan to India Gate that will have red granite walkways with greenery all around, refurbished canals, state-wise food stalls, new amenity blocks and vending kiosks.
The joint inspections is to ensure the safety, efficacy, and quality of drugs available in the country
Fifteen Cabinet ministers and 28 Ministers of State were sworn-in by President Ram Nath Kovind at a ceremony at Rashtrapati Bhavan on Wednesday evening.
India has banned wheat exports with immediate effect as part of measures to control rising domestic prices, according to official notification. However, the export shipments for which irrevocable letters of credit (LoC) have been issued on or before the date of this notification will be allowed, the Directorate General of Foreign Trade (DGFT) said in a notification dated May 13. "The export policy of wheat ... is prohibited with immediate effect...," the DGFT said. It also clarified that wheat exports will be allowed on the basis of permission granted by the Government of India to other countries to meet their food security needs and based on the request of their governments.
The wholesale price-based inflation in February rose to 13.11 per cent on hardening of prices of crude oil and non-food items, even though food articles softened. After two months of mild easing, WPI inflation accelerated in February and remained in double digits for the 11th consecutive month, beginning April 2021. WPI inflation last month was 12.96 per cent, while in February last year, it was 4.83 per cent. The rise in crude oil and natural gas prices after the Russian invasion of Ukraine, beginning February 24, has put pressure on the wholesale price index, even though food articles saw softening across categories of vegetables to pulses to protein-rich items.
Only 80.6 per cent of the Rs 6-trillion allocation has been spent by February, data from the Controller General of Accounts shows.
The ministry of external affairs urged Indian students to avoid taking unnecessary risks.
'Why should our government opt for unproven technology that has been rejected by most countries across the globe?' 'Being dependent on any other nation to supply you seed for your good crops is another form of slavery.'
This development can strengthen the case for interest rate cut by the RBI.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
'The Israeli government is saying, "OK, leave northern Gaza, because we're going to fight Hamas there".' 'But Hamas is not stupid. They are going to put militants in southern Gaza too. And then what's Israel going to do?' 'At some point are they going to say, 'Leave southern Gaza too because we want to fight Hamas there? Go across the border to Egypt"'? 'That's what people are worried about. Because they fear that once they cross the border into Egypt there will be no coming back.'
Authorities asserted that lunch is served to students of any religion 'on demand' during the holy month.
There were many people who wanted to seek favours from her by offering lakhs and crores of rupees even through her family members when she was Odisha's transport minister. She never allowed any kind of corrupt practices to touch her department officials, family members or the supporters who have stood by her.
Russia and Ukraine agreed last week to allow critical food supplies to flow to millions of impoverished people facing hunger worldwide.
China on Monday said Sri Lanka has allowed its satellite and missile tracking ship to berth at the Hambantota port on Tuesday, but declined to reveal details of talks with Colombo leading to the bankrupt island's government reversing its earlier stand to defer the high-tech vessel's entry.
"Reports of PM Modi not meeting Putin due to nuclear threat is baseless. The meeting is not taking place due to scheduling issues," sources told ANI.
This Union Budget had very little for a housewife already grappling with the rising prices of day-to-day articles, including food products and vegetables. But there wasn't much bad news either.
By throwing food at poverty that is result of faulty economics and lack of jobs, one is only trying to suicidal path.
'Just because the night passed and we survived does not mean the struggle is over for us. We are far from being in a safe zone. We did start walking but the railway stations were flooded with people and still haven't been able to board a train'
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.
For the first time in 20 years, Erdogan's political future is really on the line. He must now prove that he is a leader who can get things done and can mobilise effectively the machine of the state to provide relief to the affected people and help them rebuild their homes and their lives.
On May 9, violence erupted in Sri Lanka after supporters of the 76-year-old former premier attacked peaceful anti-government protesters demanding his ouster over the country's worst economic crisis that led to acute shortages of staple food, fuel and power.
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