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.
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.
'Today, as a film personality, he is bigger than Dharma Productions.' 'But he is still warm and loyal to his friends from school, college and work.'
The Covid pandemic has left a question mark on how the central government manages its staff.
Mukund Dange, 43, general manager-purchase in Chennai Tamil Nadu tells us how he is making the most of the lockdown.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
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.
'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.'
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
"The agitation of farmers continues and the government has shown shocking insensitivity and arrogance going through the charade of consultations," she said.
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.
'A look at the winners and losers tells us that the topic of the film is but one factor in ensuring success.'
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.
The BSE Midcap and the Small-cap Index have run up 25.3 per cent and 31.3 per cent respectively over the past year. Valuations are no longer cheap, notes Sanjay Kumar Singh.
But why is everyone getting so het up over what, after all, is a mere film? If you don't like it, don't watch it. Why create a public spectacle over it? asks Virendra Kapoor.
Indian economy about to take-off
Buying a used vehicle is a lot more complicated. Not only do you have to worry about its condition, you also have to think about whether the price you are offering is anywhere close to its true value, reveals Sanjay Kumar Singh.
CBDT chief also set a monthly target of disposing of pending appeals by sending communication through the e-filing portal and or through emails only.
The review will not only present data, trends but also list out the achievements of the Narendra Modi government
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
'Everybody fears them and rightly so. Who in his right senses wouldn't fear these agencies?' 'They can take away everything in seconds with near zero recourse to law.'
'Today we prove that our democracy still works and that the power always belongs to the people through the power of our vote'
The box office report for the year so far ain't good.
'I told myself, I will be 23 next year. Why can't I be a billionaire too?'
Calculative risks is what differentiates the successful businesses from the rest, points out Bhargav Varma, co-founder and COO of CiS App, a social networking venture.
'Last year (FY21), we had about 1 million intimated claims for Covid.' 'This year (FY22), in six months, we got about 1.6 million claims.'
A majority of the CEOs are expecting the economy to show growth in the next financial year on the back of rising consumer spending and a sharp turnaround in rural India.
IT spending in India is projected to rise 6 per cent to $81.9 billion in 2021 compared to this year on the back of growth across segments like enterprise software and IT services, research firm Gartner said on Monday. IT spending in 2020 is expected to total $79.3 billion, down 8.4 per cent from 2019. "The COVID-19 pandemic stalled many digital transformation projects for Indian enterprises, mainly because of the market uncertainties and reduced cash flows," Gartner research vice president Arup Roy said.
Industry representatives have said from the second half of the year, they hope to see revival because the rural economy is looking up and the projects the government has announced.
The Tamil Nadu chief minister may have opened a Pandora's Box on the religion front with the appointment of qualified non-Brahmin temple priests, observes N Sathiya Moorthy.
'We will see footfall returning to pre-COVID levels by January.'
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
United States Vice President-elect Kamala Harris has named her Chief of Staff, Domestic Policy Advisor and National Security Advisor -- an all-women team -- which she said has the experience to hit the ground from day one.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
Indian firms selling SAAS products have got a bonanza as companies meet, manage and sell remotely. The top five firms - Zoho, Freshworks HighRadius, Druva, and Icertis - account for 33 per cent of the market share. Chennai, India's SAAS centre, alone generates $1 billion in annual revenue. Yuvraj Malik explains how these companies are planning their next phase of growth.
In the state of the economy report, the RBI said bond vigilantes could undermine the recovery, unsettle financial markets, and trigger capital outflows from emerging markets.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
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