The committee, headed by former agriculture secretary Sanjay Agrawal, discussed ways to "promote zero budget based farming", to "change" crop patterns keeping in mind the changing needs of the country, and to make MSP more "effective and transparent".
JioMeet, which has already got the endorsement of top government officials and politicians, saw a huge surge in its ranking on Google Play, based on its downloads.
He said manufacturing ethanol and biogas from waste could result in savings to the tune of Rs 5 lakh crore annually
The Union Cabinet has approved amendments to the General Insurance Business (Nationalisation) Act, paving the way for privatisation of government-owned insurers. The amendments, approved by Cabinet, will remove the clause for the Centre to hold at least 51 per cent in public sector insurance companies at any given time. It will also have an enabling provision for the transfer of management control from the government to the potential buyer of the public sector insurance company. The finance ministry will move amendments to the insurance Act in the ongoing Parliament session.
The Centre said the upsurge of COVID-19 cases is happening in cities and the Omicron variant is the predominant circulating strain.
The Auto Component Manufacturers Association of India on Wednesday sought reduction in GST rate to a uniform level of 18 per cent for the entire automobile industry to stimulate demand and help save around 10 lakh jobs, which are at risk due to prolonged slowdown in vehicle sales.
Lok Sabha Speaker Om Birla on Thursday advised all the MPs to wear masks and follow the Covid protocol completely, in view of the increasing cases of COVID-19 in many countries across the world.
The Indian economy is likely to grow at over 7 per cent in the current fiscal year, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday, while observing that the growth rate should sustain next year too provided the forthcoming Budget does not have any negative surprises. Panagariya further said recessionary fears have been around for a while but so far neither the US nor the EU has gone into recession. "From the viewpoint of India, in terms of headwinds originating abroad, the worst is probably behind us," he told PTI.
"We commend your leadership and the proactive measures you and your government have taken to flatten the curve of the COVID-19 infection rate in India, such as adopting a national lockdown, expanding focused testing to identify hot spots for isolation, quarantining, and care, and significantly increasing health expenditures to strengthen the health system response and promote R&D and digital innovation," Gates wrote.
'There is a law that prevents the government from diluting its equity in the PSBs below 50 per cent.' 'That law has to be amended and given the parliamentary arithmetic of the political parties, it is not as simple to do that.'
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
The size of India's middle class will nearly double to 61 per cent of its total population by 2047, from 31 per cent in 2020-21, as continuing political stability and economic reforms with a sustained annual growth rate of between 6 per cent and 7 per cent over the next two and half decades will make the country one of the largest markets in the world. The findings are part of a report released on Wednesday by the People Research on India's Consumer Economy (PRICE) and India's Citizen Environment, a not-for-profit think tank. The report titled, The Rise of India's Middle Class, is based on an analysis of primary data collected by PRICE through its pan-Indian survey.
It will be unfair to put a date for any COVID wave as the behaviour of coronavirus is unpredictable and a disciplined and effective pandemic response can help the country get away from any significant outbreak, COVID Task Force chief V K Paul said.
Amid a spike in Covid-19 cases, the Centre on Monday reviewed with states and Union territories the preparedness for pandemic management and the progress of vaccination.
The government said it looks at such studies with due respect but it is yet to examine whether this particular report has a scientific worth or not.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
Ill-health forced Bihar Chief Minister Nitish Kumar to cancel his scheduled visit to Chennai on Tuesday, where he was invited by his Tamil Nadu counterpart MK Stalin, a key aide of the Janata Dal-United leader said.
Sources said the pandemic and the response of the government is likely to be discussed in the virtual meet.
NITI Aayog member (health) Dr VK Paul said all decisions on precaution doses are taken first and foremost based on the need.
Niti Aayog's plan to create a 'New India' in less than four years should invite scepticism, argues T N Ninan.
The official asserted that following social distancing, wearing masks, maintaining hand hygiene and avoiding big gatherings remain vital in preventing the spread of the infection.
States are planning to pass resolutions in their legislative assemblies; however, such tactics will be used as the last resort if the Centre continues to stall allocations.
Modi said that only governments and their initiatives will not make a New India.
'People on both sides of the Hindutva debate need to read and understand the texts first,' Bibek Debroy, translator of the unabridged Mahabharata, tells Kanika Datta as he gets started on a similar project for the Ramayana.
The total number of doses administered in the country has crossed 78.68 crore.
After confirmation of the first monkeypox death in the country by the National Institute of Virology, health experts advised strengthening the surveillance to avoid silent transmission of monkeypox.
In a communication to the empowered committee on PLI recently, the Indian Cellular & Electronics Association (ICEA) has stated that except one player (Samsung), all the other eight players (which include vendors of Apple Inc) selected under the scheme were facing numerous challenges in fulfilling the qualification criteria.
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
Modi said people, especially those involved in 'blue collared' jobs, would prefer to get employment near their homes. He suggested that artificial intelligence can be used help employers meet skilled workforce.
The Centre's push to sell Air India on priority has led to delays in other strategic divestment proposals, such as privatising United India Insurance, as well as ongoing transactions, such as Shipping Corporation of India (SCI) and Bharat Petroleum Corporation (BPCL), revealed multiple officials involved in the process. The Department of Investment and Public Asset Management (DIPAM) is yet to take new privatisation recommendations of the NITI Aayog to the core group of secretaries on disinvestment (CGD) headed by the Cabinet secretary, said one of the officials. The priority now is to ensure all approvals for Air India are in place since the government intends to hand over the national carrier as early as this month.
BHIM is a platform designed to make payment through UPI and USSD modes simpler.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
'Union Budgets are often used as political instruments and that was the intention of this government too.' 'But while the exercise has settled two fronts, it has left open several others and this has the potential to aggravate with time,' predicts Nilanjan Mukhopadhyay.
'In India, we are paying a price for not managing water as we are not willing to pay the cost for it.'
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
The electric Chetak has already sold close to 25,000 units in India, and the European version will be based on the same platform.
The country's largest lender State Bank of India (SBI) will revamp its banking application (app) YONO and position it as a complete digital bank (DB) under a new rubric 'Only YONO' for enhancing customer experience and ease of use. The bank plans to bring in a consultant to help draw up the project plan, keeping in mind business goals for the next five years. With 54 million monthly active users (MAUs), SBI YONO has seen growth of over 35 per cent in MAUs in 2021.
In her first address to a joint sitting of the two Houses in the new Parliament building in which she touched on varied issues ranging from insurgency to inflation, Murmu said a country can progress at a fast pace only when it defeats the challenges of the past and puts maximum energy into building the future.
Currently, Railways is facing a loss of Rs 34,000 cr in passenger segment and its earnings are falling.
India has too many small companies and this is inefficient. It should instead have only a handful of very large players running its economy and these giants can then compete with the world, observes Aakar Patel.
