'The autonomy of essential institutions is clearly under question as the Modi government seeks to influence them politically.' 'The credibility of institutions such as the EC, the CBI, the CVC, the UPSC, the RBI, media, and universities, has been compromised,' notes Zoya Hasan, the distinguished political thinker.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
Households are likely to remain the primary net lenders to the economy in the coming decades.
'Till the BJP does not understand Kejriwal they cannot win Delhi.'
Condolences have poured in from across the globe, including from the United States, Canada and Sri Lanka following the demise of former Prime Minister Manmohan Singh.
Forty-five specialists will soon be joining key posts of joint secretaries, directors and deputy secretaries in different central ministries as part of the Modi government's ambitious plan to infuse fresh talent to further improve ease of governance.
Government needs to rethink its over-dependency on imported petrol, and come up with ways to stabilise the Indian rupee.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
The World Bank has appointed Indermit Gill, an Indian national, chief economist and senior vice-president for development economics at the multilateral development bank. "Indermit Gill brings to this role a combination of leadership, invaluable expertise and practical experience working with country governments on macroeconomic imbalances, growth, poverty, institutions, conflict, and climate change," World Bank President David Malpass said in a statement. His appointment will be effective September 1, 2022.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
There is a need to bring in legal/constitutional changes, reforms in central tax system and state tax systems, said M Govinda Rao, director, National Institute of Public Finance and Policy.
The government on Thusday said it is examining a proposal for setting up a venture capital fund to promote drug discovery in India.
Justice Rajiv Sahay Endlaw dismissed the plea of an employee that departmental inquiry and consequent dismissal from job for forging a rent receipt was illegal as the National Institute of Public Finance and Policy had no rules governing services.
His cinema of compassion inspired me, gave me tools to develop empathy for others. But it also made me understand that serious, socially committed cinema with deeply engaging narratives and great performances is an art form to admire, appreciate and explore. Aseem Chhabra remembers Shyam Benegal, who passed into the ages on Monday evening.
The Prime Minister's Economic Advisory Council on Wednesday favoured further increase in petroleum prices in line with the global trend.
"The central fiscal situation has improved but several underlying fiscal pressures are not entirely evident in the numbers," Reddy said at an event organised by the National Institute of Public Finance and Policy. In 2008-09, the Centre has budgeted to cut fiscal deficit to 2.5 per cent of GDP from 3.1 per cent in 2007-08.
IOA president P T Usha on Sunday slammed the revolting executive council members, saying they 'seem more focused on self-serving power play and monetary gain'
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
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The Finance Ministry had set a time period of 18 months, which expired last year on August 21, for completion of the study.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
'If such a practice were feasible, every state would seek additional funds, posing a significant risk to the overall health of the economy.'
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
India has joined global efforts to combat global tax evasion.
A visit to the National Science Foundation in Alexandria, Virginia is likely to be the first public engagement of the prime minister, which would be hosted by the First Lady, the White House said on Tuesday.
The government is set to ask PSBs to expeditiously introduce repo-rate linked products "to step up affordable credit".
The Budget outlay for health and well being is Rs 2.23 lakh crore in 2021-22 as against BE of Rs 94,452 crore and marks an increase of 137 per cent," she said while presenting 2021-22 Budget in the Lok Sabha.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
'An era of fiscal pessimism is setting in, which, if not countered intellectually, is going to have the same effect as export pessimism has had,' notes T C A Srinivasa Raghavan.
Entrepreneurship, education and training will be provided in 2,200 colleges, 300 schools, 500 government ITIs and 50 vocational training centres through massive open online courses.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Capital markets are becoming more prominent in India's growth story, with an expanding share in capital formation and investment landscape on the back of technology, innovation and digitisation, according to the Economic Survey 2023-24 tabled in Parliament on Monday. Further, Indian markets are resilient to global geo-political and economic shocks, it added. "Despite heightened geo-political risks, rising interest rates and volatile commodity prices, Indian capital markets have been one of the best performing among emerging markets in FY24," the Economic Survey said.
In an affidavit submitted before a division bench of Chief Justice Dipankar Datta and Justice M S Karnik, PMO Under Secretary Pradeep Srivastava said the PM's photograph, name and national emblem were also used in the Prime Minister's National Relief Fund (PMNRF).
Citing national security and confidentiality clauses, the Finance Ministry has declined to disclose information on exchange of correspondence among India, Swiss and German authorities in connection with the black money probe.
Wealth, which can broadly be a measure of assets held as opposed to income earned, is unequally distributed.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
The issue is likely to be discussed on Thursday at a meeting of Sebi's board, which would also be apprised of the impact of the Finance Ministry's decision for not agreeing to such a proposal from the capital markets regulator, sources said.
