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.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
China and Pakistan on Friday signed eight agreements, including a whopping $18 billion deal to build a 200 km-long strategic tunnel through the rugged PoK, as the two all-weather allies sought to boost economic ties and supply critical oil to the energy-hungry Communist giant.
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
India needs a place where all regulators could gather and function as in a war room.
The 'Pesta Demokrasi' is a cause for celebration not only for Indonesia but also for democracy and forces for peace all over the globe, notes Sandeep Chakravorty, India's Ambassador to Indonesia.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
Constituencies that are going to the polls in the first phase, slated for April 19, have just 19 days for campaigning. Contrast that with those going to polls in the 7th phase, notes N Sathiya Moorthy.
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
Where do Vijay and his TVK expect to get their votes from? Vijay has a huge fan following among women, but will they automatically become his voters like they had done for MGR's AIADMK, asks N Sathiya Moorthy.
Goa, Uttarakhand and Meghalaya will initiate schemes to enable 24x7 power to consumers.
The Agricultural Produce Marketing Committee Act of a state regulates the purchase of agricultural products, such as cereals, pulses, fruits and vegetables for that region. It hobbles farmers, imposing multiple levies on produce and disallows direct sales to private companies.
In his opening remarks at the virtual summit of Leaders of G20 countries, Modi made it clear that terrorism was "unacceptable" to everyone and the death of civilians, anywhere, was condemnable.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
President Xi Jinping on Monday vowed to build China's military into a "Great Wall of steel" to protect its sovereignty and developmental interests as he sought a bigger role for Beijing in global affairs, days after brokering a Saudi Arabia-Iran detente, regarded as a diplomatic coup.
The nation's highest policymaking body, the National Development Council, will focus on five key areas, including the Naxal menace, power reforms and water crisis, at its meeting on Saturday.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
The government is planning to extend the electronic modes of tax payment to its own payments platform, Unified Payments Interface (UPI), credit cards of banks, or even a mobile wallet like Paytm.
We should improve the business climate in Mumbai and Delhi, and India's ranking would immediately shoot up, says Bibek Debroy, a full member of NITI Aayog.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
The panel's report also provides a range for fiscal deficit and debt path of both the Union and states and also recommended additional borrowing room to states based on performance in power sector reforms. Finance Commission is a constitutional body that gives suggestions on Centre-state financial relations. The report of the 15th Finance Commission was tabled in the Lok Sabha by Finance Minister Nirmala Sitharaman.
Here's the full text of address to the nation by President Ram Nath Kovind on the eve of the Republic Day 2022.
The implementation of their recommendations means that an adequate apparatus to change this is at the disposal of the government.
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On June 27, the Cabinet approved a new formula that uses weighted average of the price of LNG into India and average price at major gas hubs.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
The Budget is remarkably coherent.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
Manish Sabharwal is chairman of TeamLease, which has helped hire 1.4 million sales and customer service reps and logistics employees such as couriers for companies across India since it was founded in 2002.
Qualcomm has agreed to pay a hefty fine of $995 million.
General Pande said the northern border region has been peaceful and steps have been taken to maintain peace through established protocol and existing mechanism.
Critics say Modi scores high on oratory but has delivered on few of his election campaign promises.
A visit to Tibet appears to have become the new touchstone for expressing fealty to Xi Jinping, observes Jayadeva Ranade, the retired senior RA&W officer and distinguished China expert.
China will prioritise the development of a floating nuclear power platform in the coming five years.
Chinese President Xi Jinping on Tuesday issued a new mobilisation order for the training of armed forces with a focus on developing an elite force capable of fighting and winning wars.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
For the last four years since abrogation of Article 370, Kashmir-based political parties have been struggling to forge an alternate narrative to the one forcibly snatched from them. The BJP is bound to go hammer and tongs at them now that their armoury is reinforced with the Supreme Court judgment, notes Mohammad Sayeed Malik, the veteran commentator on Kashmir affairs.
The economic growth fell to a decade low of 5 per cent in 2012-13 fiscal.
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
Economists expect Modi to announce big-bang reforms.
