The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
Tikait also said if the government continues to dismantle the resources, one day India will be known as 'Mazdoor colony' and only labour class (will be left) in the country.
'Crony capitalism will gain due to these Acts.'
Union minister Ramdas Athawale on Wednesday said the Congress had back-stabbed Sharad Pawar and not the other way round, two days after Shiv Sena leader Anant Geete accused the veteran politician of backstabbing Congress and forming the NCP in 1999.
China on Tuesday announced a major policy change for its crisis-ridden power sector by allowing coal-fired power plants to charge their industrial and commercial customers market-driven prices. The National Development and Reform Commission (NDRC) of China said the electricity generated by coal-fired plants would discover price in market trading "in an orderly manner" from October 15. This is being done to pass on the high costs of coal and is being held up as the boldest reform in the Chinese power sector.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
The Centre on Wednesday announced a raft of post-retirement employment possibilities for 'Agniveer' like priority in recruitment to the central armed police forces (CAPF) and Assam rifles but that failed to assuage the concerns of the opposition Congress which warned the 'transformative' 'Agnipath' scheme will reduce the operational effectiveness of the armed forces.
The Shahbaz Sharif family (his two wives and their children) invested PkRs 277 crore in 13 companies without having known sources of income.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
'An earthquake of a slightly higher magnitude in the Western Himalayan region is going to be catastrophic -- not just because of the fragility of the region but because of how densely we have occupied it.'
After the Gujarat and Himachal elections and the municipal polls in Mumbai and Delhi, Karnataka, Rajasthan, MP and Chhattisgarh will elect new assemblies next year leading up to the Lok Sabha election in April-May 2024, points out Virendra Kapoor.
'Where have we failed, as parents, teachers and leaders, that our children have forgotten all tenets of decent behaviour and respect for women?' President Pranab Mukherjee asks the nation on the eve of Republic Day.
Another bill related to the farm sector, the Essential Commodities (Amendment) Bill, was passed on Tuesday.
Ten central trade unions on Tuesday said they are going ahead with their planned nationwide general strike on November 26 and also announced their support to a two-day farmers' agitation next week. The meeting of the Joint Platform of Central Trade Unions (CTUs) and Sectoral Independent Federations and Associations was held virtually on November 16, 2020. Unions expressed satisfaction over the tremendous response being received from workers and the people at large throughout the country to the ongoing campaign for the countrywide general strike on November 26, 2020, a joint forum statement said.
The number of Indians over 15 either working or looking for work is lower as a percentage than in the United States, China, Bangladesh or Pakistan, points out Aakar Patel.
Modi had clearly not come to terms with the limits to a prime minister's powers, any prime minister's powers however strong numbers he may have in Parliament, observes Virendra Kapoor.
Farmer leaders on Saturday said the protesting unions stand firm on their demand of a complete repeal of the three agri laws and asserted that they are ready for talks with the government, but that should be held without any condition.
Government's claim of a "considerable" drop in farmers' suicides in the country did not impress the Supreme Court which on Friday said there should be no such cases at all.
The central bank held 72.5 per cent equity in Nabard worth Rs 1,450 crore, of which 71.5 per cent amounting to Rs 1,430 crore were divested way back in October 2010 and the residual shareholding was divested on February 26, 2019.
A three-judge bench headed by Chief Justice of India Sharad Arvind Bobde will hear the application on January 18 along with pleas raising the issue of farmers protesting at Delhi borders.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
Prime Minister Narendra Modi was not present at the all-party meeting convened by the government.
Stating that recent agriculture reforms have opened new opportunities, the RBI Governor said the farm sector is emerging as a bright spot.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
"The question of entering into Delhi is a law and order matter and will be determined by the police," the bench said.
From Sri Lanka's most popular political family to its most despised -- going by the voices on the streets calling for the Rajapaksas' ouster -- what went wrong for the clan? Veteran Sri Lanka watcher N Sathiya Moorthy offers an insight.
Winning an election may be a breeze for the BJP but the aftermath of victory isn't always painless.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
The morcha claimed that the response to the bandh call was 'more widespread than before' and nearly all opposition political parties extended an unconditional support to it.
'The farmer is furious because the MP government is trying to crush their agitation violently.' 'Such actions will have nation-wide repercussions.' 'Why this drama (Shivraj Chouhan's fast) after violently crushing the farmers' agitation?' 'He should resign immediately.'
'While dairy farmers are suffering from low prices, consumers are paying a high price for milk.'
The Bhartiya Kisan Union Lokshakti said the principle of natural justice is going to be violated as those appointed to the four-member committee 'have already supported these laws'.
'For the UDF, it will depend on how far Rahul Gandhi will succeed with the goodwill he has.' 'That will make a difference.'
Expect Modi to speak about internal security, terrorism, agriculture, the Triple Talaq Bill, the SC/ST Bill and, of course, the controversial NRC.
34 farmers and farm labourers committed suicide on an average every day in 2014, reflecting the deepening agrarian distress in several parts of the country.
Prime Minister Narendra Modi on Thursday said efforts are on to remove AFSPA completely from the northeast region.
'If an election promise has to be credible, silence on practical questions doesn't help matters,' notes T N Ninan.
In his address to the nation on the eve of 73rd Republic Day, President Kovind noted that democracy, justice, liberty, equality and fraternity form the bedrock of India and stressed that the observance of Fundamental Duties mentioned in the Constitution creates the proper environment for the enjoyment of Fundamental Rights.
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