7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
They all seem to forget that the Music Academy is as much an independent institution as T M Krishna is an individual musician. In drawing those red lines for the Academy management, they do not even seem to recognise that they too have crossed a red line themselves, points out N Sathiya Moorthy.
State Bank of India is also expected to tap the markets this year
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
The result is a big blow to the military establishment, revealing the limits of 'political engineering'. It reflected the anger of the electorate, especially its younger voters, who have spoken decisively against the persistent harassment and victimisation of Imran Khan's political party, asserts Rana Banerji, who headed the Pakistan desk at RA&W.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
'The appointment of judges must not be under the control of the government,' says Prashant Bhushan.
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."
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
'So you have welfare programmes, you reach out to the poor, you cut out the middlemen, you cut out the leakages and you try to raise the standard of living.'
This comes as IR posted its worst operating ratio (money spent to earn every Rs 100) in 16 years, at 96.9 in 2016-17.
'I wonder how people who come to power through democratic means turn out this way.' 'But people of India are strong, and those who think they can hoodwink people, are mistaken.' 'You can fool some people for some time, but not all people, all the time.'
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
The venture is applying to the Reserve Bank of India for approvals.
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Climate action plans of poorest nations to cost $1 trillion.
It shows that states would require a compensation to the tune of at least Rs 1.67 trillion in 2024-25, as none of them would be able to achieve a 14 per cent growth every year.
The health sector has been allocated Rs 89,155 crore in the Union Budget 2023-24, a hike of around 13 per cent over Rs 79,145 crore allocated in 2022-23, with the government also announcing a mission to eliminate sickle cell anaemia by 2047.
After his wide-ranging talks with Modi on the second and final day of his India visit, Johnson said the new defence and security partnership will enable India to strengthen its domestic defence industry as well as help the two countries protect vital shared interests in the Indo-Pacific.
The government had no option but to cut spending to meet its borrowing targets.
Modi attended the 20th ASEAN-India Summit in Jakarta. Secretary-General of ASEAN Dr Kao Kim Hourn also attended the summit.
Heads of state and big-name billionaires opened the Paris climate summit with a bang on Monday.
Modi's government plans to support domestic demand
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
'NSE has thousands of employees. It is their institution. So it's a dear family.' 'One should not hurt the morale of these people.'
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Raghuram Rajan is said to have informally written to select policymakers and experts, to curb 'unnecessary' speculation over his future at RBI.
Most forecasts do not have a track record of transparency and accuracy
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
If the protected growth in GST revenue is reduced to 10 per cent, the Centre would save more than Rs 25,000 crore in 2020-21 if none of the states show any revenue growth. This would nearly amount to 0.1 per cent of the gross fiscal deficit and help the government in avoiding fiscal slippage to some extent in subsequent years.
With the two members quitting, the NSC now has only two members -- Chief Statistician Pravin Srivastava and NITI Aayog CEO Amitabh Kant.
The Centre has constituted a five-member expert committee to study various alternatives available to it to decide on a new capital for Andhra Pradesh.
The Supreme Court on Thursday extended the tenure of Enforcement Directorate chief Sanjay Kumar Mishra till September 15 midnight in larger "public and national interest" after the Centre asserted his continuity is necessary in view of the ongoing FATF peer review and attempts by India's neighbours to ensure the country falls in the grey list.
Modi had campaigned with promises of jobs, infrastructure and development.
Scheduled commercial banks have written off loans amounting to over Rs 10.09 lakh crore in the last five financial years and the process of recovery of dues from the borrowers continues, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha on Monday.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
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