The US president tweeted on Friday that Mulvaney "has done an outstanding job" in his administration and would take over from John Kelly in the new year.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
He said the answer to the Congress' current challenges lies in a combination of effective leadership and organisational reforms.
'My producer earns, I earn. It's a win-win situation.'
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
Audience turnout is crucial to most exhibitors, since their discussions with film producers hinge on how many people will return to movie halls in the weeks ahead.
It was not immediately clear when Garg submitted his voluntary retirement scheme application to the government. It was also not known if the government would accept the application. If he hadn't applied for VRS, he would have retired from government service at the end of October 2020 on attaining of 60 years of age. Garg did not answer phone calls seeking his comments.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
'On an average we have been getting four to five such proposals a month, but we aren't pursuing them as they don't tick the boxes.'
Vistara appoints Vinod Kannan as chief strategy officer; plans to launch its maiden international flight to Colombo in May
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
Aamir Khan's Mangal Pandey: The Rising released on August 12, 2005.
'Let's get a woman to be the antagonist, who really throws me around and hammers the s**t out of me. That would be fun.'
The perception is rapidly gaining ground that though the chief minister is from the Shiv Sena, the government is being run by the NCP.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
The combined net sales of 42 listed construction and capital goods companies that have declared their third-quarter results so far were down 2.3 per cent year-on-year in Q3FY21 while core operating profit was up just 4.9 per cent YoY during the quarter.
The sentiment in the real estate industry turned optimistic during October-December 2020 and the outlook for the next six months is positive on the back of revival in demand for both residential and office properties, according to a survey by Knight Frank India-FICCI-Naredco. The 27th edition of 'Real Estate Sentiment Index Q4 2020 survey' of developers, banks, financial institutions and private equity players operating in the sector was released on Monday in a video-conference. As per the report, the 'Current Sentiments Score', for the first time in 2020, entered the optimistic zone at 54 points in Q4 (October-December) 2020, a significant jump of 14 points over the previous quarter.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
Ahmedabad is home to the strangest of cuisines and is a city of contrasts, if you look beyond the tourist places.
The government is planning to merge Bharat Broadband Nigam Limited (BBNL) with the loss-making state-run telecom operator Bharat Sanchar Nigam Limited (BSNL) this month, a senior official has said. BSNL chairman and managing director PK Purwar at a recent event organised by the All India Graduate Engineers and Telecom officers Association (AIGETOA) said that the government is giving the telecom firm an opportunity for a turnaround. "The government has taken a policy decision that BBNL is going to be merged into BSNL. "This means all work of BBNL at the pan-India level is going to come to BSNL," Purwar said at the All India Conference of AIGETOA on March 13.
Speaking after interacting with gram panchayats and pani samitis/village water and sanitation committees (VWSC) on the Jal Jeevan Mission, Modi said the mission is not just about bringing water to people but it is also a decentralisation movement that is village and women-driven.
Pranab Mukherjee's stewardship of the economy will stand out as much for the manner in which he managed controversies as for creating quite a few of them, says A K Bhattacharya.
Indian economy about to take-off
Uber Technologies said it is doing a fresh round of recruitment for its India tech centres and is planning to hire 500 more tech employees by December. The app-based mobility and delivery company has a 1,000-member tech team across its centres in Hyderabad and Bengaluru. The firm said the hiring plan is a testament to Uber's commitment to India, and its recognition of the engineering talent in the country. Uber hired 250 engineers to its India teams in 2021.
Dr Ajay Kumar Sood will have to complete a task his predecessor started: Getting the government to sign off on a new Science, Technology, and Innovation Policy on which work was begun in 2020.
Mukund Dange, 43, general manager-purchase in Chennai Tamil Nadu tells us how he is making the most of the lockdown.
'It was like a doctor giving some simple pain killers to a patient in dire requirement of chemotherapy.' 'There was no sense of urgency or desperation in this particular Budget.'
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
'A look at the winners and losers tells us that the topic of the film is but one factor in ensuring success.'
The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities, along with deferring "avoidable expenditure" on "purchase of staff cars", "refurbishment of guest houses" and on the interior decoration of administrative and back offices.
The Covid pandemic has left a question mark on how the central government manages its staff.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
Top losers in the Sensex pack included SBI, HDFC twins, Bajaj Auto, ONGC and Tata Steel, falling up to 2.49 per cent.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
