The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
Coaches may come and go but late Nikolai Snesarev will have a special place in star steeplechaser Avinash Sable's heart for his contribution in his overall growth as an international athlete.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
The defence ministry took the decision to hold the biennial event as scheduled following inputs from major stakeholders including the domestic defence industry and global aerospace majors, official sources said.
Prime Minister Narendra Modi on Friday pushed Russian President Vladimir Putin to end the conflict in Ukraine, saying 'today's era is not of war' even as he called for finding ways to address the global food and energy security crisis.
In Kerala, the use of black ranges from such convenience to strictures by community and religion to fashion and personal choice. One would have to be really insecure or too fond of the well settled life to see black solely as a badge of protest, points out Shyam G Menon.
The spike in volatility may not have impacted equity inflows, but it has weighed on new investors coming via the systematic investment plan (SIP) route. In May, 1.97 million new SIPs got registered - nearly 15 per cent lower than the previous five-month average of 2.3 million - reveals the data provided by the Association of Mutual Funds in India. Since June 2021, new SIP registrations have been upwards of 2 million each calendar month. The new SIP tally in May was the lowest in 12 months.
As 2022 readies to bid adieu, Sukanya Verma raises a toast to the 10 high points of the year.
More companies are harbouring aspirations to go public, following a sharp market rebound after June's nadir. In August, seven companies expecting to raise a cumulative Rs 10,425 crore filed their draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). The amount they are looking to mop up is the highest since March, when 13 companies filed their DRHPs to raise a combined Rs 19,494 crore, reveals data provided by PRIME Database - a source of comprehensive information on all capital market offerings.
'Pakistan has completely failed to provide the remedy as directed by the ICJ and India reserves its position in the matter, including its rights to avail of further remedies'
Noting that the third wave of Covid-19 has ended in India, eminent virologist Dr T Jacob John said he is "fairly confident" that no fourth wave will occur in the country unless an unexpected variant that behaves differently comes up.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
According to a report by German banking giant Deutsche Bank, a weaker Indian rupee has allowed India to remain the cheapest major economy in the world despite persistently suffering the highest inflation rate.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
Currently, CoWin certificates mention the beneficiary's age based on the year of birth besides other details.
India can seek motivation from the fact that they can claim the top spot in the ICC Twenty20 International rankings if they make a clean sweep in the three-match series that begins on January 26.
The 102-year-old was given a warm welcome by election staff at the Kalpa booth in Mandi Lok Sabha constituency, which went to polls in the last and seventh phase of the general elections.
The Indian economy is on the path of a durable recovery on the back of conducive monetary and credit conditions, the global headwinds notwithstanding, said a Reserve Bank of India (RBI) article on the state of the economy. Domestically, there have been several positives on the COVID-19 front, in terms of reduced infections and faster vaccinations, the article published in the RBI Bulletin November 2021 added. The Indian economy, the article said, is clearly differentiating itself from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections in various parts of the world.
It is learnt that Defence Minister Rajnath Singh has conveyed to top military brass that there was no need for reviewing the implementation of any of the key projects along the Line of Actual Control (LAC) in Ladakh, Sikkim, Uttarakhand or in Arunachal Pradesh in view of the aggressive behaviour by Chinese troops in several sensitive areas.
Jack Ma who had five years ago said he was inspired and excited by "Make in India" possibly understood the essence of the signature campaign better than some others and decided to stay away from India other than as an investor, says Nivedita Mookerji.
India's leg spinner Yuzvendra Chahal had an emphatic "no" for an answer when a scribe alluded to suggestions that cricketers could be better off wearing half pants instead of trousers in the future, given that the game is often played in extreme heat.
In its latest report '2013 National Trade Estimate: Foreign Trade Barriers' the US Trade Representative has listed out a whole range of difficulties US companies face in India, which according to officials prevent them from realising the full potential of India-US economic relationship.
India on Friday signed the historic Paris climate agreement in the United Nations along with more than 170 nations.
The series loss to South Africa notwithstanding, India held on to their second spot in the team list, while star batsman Virat Kohli rose up a rung to second in the batsmen's table of the latest ICC ODI cricket rankings.
The relationship between India and China experienced both highs and lows in 2013 with high-level visits and the inking of a pact to defuse recurring border stand-offs after incursions by Chinese troops dented bilateral ties. PTI's K J M Varma reports from Beijing.
'The Make in India target of getting manufacturing to account for 25% of GDP by 2022 is quite impossible to achieve.' 'As for the role of technology in the average Indian's life, it is still quite basic -- mobile phones and Mars successes notwithstanding,' says T N Ninan.
The Supreme Court on Friday agreed to hear on Saturday Maharashtra's plea for a stay on the Bombay high court order acquitting G N Saibaba, after Solicitor General Tushar Mehta's persistent pitch that the acquittal was not on merit but for want of appropriate sanction to prosecute him under the anti-terror law UAPA.
The military brass is learnt to have apprised Modi about the evolving situation in eastern Ladakh, though officials maintained that the agenda of the pre-scheduled meeting was to discuss the ambitious military reforms and ways to boost India's combat prowess.
The country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21, a report said on Thursday. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively down from $23.02 billion or 2.74 per cent in Q3, which was a 13-quarter high. The improvement in the key numbers are due to the remarkable improvement in merchandise exports in FY22, when it grew 42.4 per cent as against a negative 7.5 per cent in the pandemic-hit FY121.
Images from Day 3 of the third Test between India and South Africa, in Ranchi, on Monday.
Gold demand in India dropped by 30 per cent during the July-September quarter to 86.6 tonnes, compared to the same period last year due to Covid-19 related disruptions and ruling high prices, the World Gold Council (WGC) said in a report.
Away from the distraction of its new high-profile politics, Wayanad's worries seemed very down to earth, discovers Shyam G Menon.
Startups in India need low-cost debt for working capital, which is impossible to get.
'According to the survey, ideological issues like Article 370 and Ayodhya received only 14 and 12 per cent voter-backing, respectively.' 'It could well imply that hardline Hindutva issues have only that much voter-purchase, compared to Modi's overall popularity of 52 per cent -- putting the man way above the mission,' points out N Sathiya Moorthy.
'When I crossed that point where I had the accident, I felt light and that was a very physical experience. I felt something leave me.' Shyam G Menon chronicles the voyages of that incredible Indian sailor, Abhilash Tomy.
When we know that the ED's conviction ratio is less than 1% of the cases that it prosecutes, when we know that ED 'raids' are today more than 25 times as they were before 2014, why are we giving the ED more powers? asks Aakar Patel.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously Sebi and the RBI with carve-outs for IRDAI or possibly PFRDA. But this could change soon with the International Financial Services Centres Authority, observes Subhomoy Bhattacharjee.
President of the European Council Charles Michel on Tuesday spoke to Prime Minister Narendra Modi and conveyed his condolences over the death of Naveen Shekarappa Gyanagoudar, a native of Karnataka.
The BJP's message is that the past must be reinvented as creatively as imagination allows, states Sunanda K Datta-Ray.
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