The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.
'Our advice is to put money into equities now rather than staying away.'
'The economic crisis hit us from nowhere. No one saw it coming.'
With intermittent disruptions in the supply chain of raw materials from China, the Indian pharma industry has braced itself with bigger inventory. Even smaller drug makers are now carrying a month of buffer stock of key raw materials, said industry insiders. The lockdown in various Chinese provinces, including Shanghai, is likely to delay shipments by two weeks to a month, said domestic players. Shipments are critical for the Indian drug industry, which imports 70 per cent of its raw material from China.
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According to the Central Pollution Control Board (CPCB), the 24-hour average concentration of lung-damaging fine particles known as PM2.5 in Delhi-NCR shot up from 243 micrograms per cubic metre at 6 pm on Thursday (Diwali day) to 410 micrograms per cubic metre at 9 am on Friday, around seven times the safe limit of 60 micrograms per cubic metre.
The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
The US tech major is planning to begin local production of its upcoming iPhone 12 by next April - within six months of its launch.
In years past, we often approached the Budget expecting to see changes in direct and indirect taxes. Those days are behind us. The Budget of today seeks to expand the economy and keep it at the forefront of technology, observes Harsh Goenka.
Thirteen teams of the National Disaster Response Force and three of the State Disaster Response Force were deployed in vulnerable districts of the state, a disaster management department report said.
Afghanistan spinner Rashid Khan, who will turn out for Gujarat Titans this season, says he is never bothered by conditions.
'... To ensure that the vast Indian Ocean Region remain peaceful.'
Ezra Moseley featured in two Tests against England in 1990 and also played nine ODIS between 1990 and 1991. He went to the rebel tour of South Africa back in 1982-83 and was banned.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Finance Minister Nirmala Sitharaman is likely to strike a fine balance between being fiscally prudent and growth supportive when she presents her fourth straight budget on Tuesday, which is expected to have plans to boost spending to revive investment and create jobs. The Budget for the fiscal year starting April 1, 2022 is likely to raise spending on infrastructure to set the economy on a firmer footing. The stage for the Budget presentation was set by the Economic Survey stating that the government has the fiscal space to do more to support the economy that is forecast to grow at a healthy 8-8.5 per cent growth in the 2022-23 fiscal.
A bench of Justices Arun Mishra and Deepak Gupta also directed the Delhi government and the Central Pollution Control Board to place before it the data of pollution in Delhi from October till November 14 this year. The bench also directed them to submit pollution data from October 1 to December 31, 2018.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
Hardik Pandya garners praise as he guides GT to playoffs
The 'unlocking' comes as COVID-19 cases have seen a steady fall in recent weeks.
Over 8.5 lakh employees, majorly from public sector banks (PSBs), will get a 15 per cent hike in pay, with the conclusion of the 11th Bipartite Wage Negotiations on Wednesday. After three years of intense negotiations, the UFBU, which represents four bank officer associations and five workman unions, and the IBA on July 22 entered into a memorandum of understanding (MoU) for an annual wage hike of 15 per cent.
The government on Wednesday approved a production-linked incentive (PLI) scheme for the pharmaceutical sector, entailing an outlay of Rs 15,000 crore. The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the scheme which will benefit domestic manufacturers, help create employment and is expected to contribute to the availability of a wider range of affordable medicines for consumers. The duration of the scheme would be from 2020-21 to 2028-29 and is expected to promote the production of high value products in the country and increase the value addition in exports, an official release said.
Deepak Chahar feels that ban on use of saliva will not have an impact in white ball cricket
A railway station and a police vehicle were torched and several law enforcers injured in stone-pelting incidents on the fourth consecutive day of protests against Agnipath scheme on Saturday when a bandh was also called to press for the demand for rollback of the new scheme for recruitment in armed forces.
Walmart-owned Flipkart on Wednesday said it has eliminated all single-use plastic packaging used across its fulfilment centres in the country. With this, the e-commerce major has delivered on its public commitment to move to plastic-free packaging in its supply chain by 2021. This has been achieved across more than 70 facilities of Flipkart spread all over India, where it has eliminated single-use plastic packaging by introducing the most scalable sustainable alternatives, a statement said.
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
Security bunkers manned by the central armed paramilitary forces are being set up in many areas of Srinagar where these were removed between 2011 and 2014 following the overall improvement in the security situation across Kashmir.
In the clip, which went viral on social media, an announcement on a truck-mounted sound system was heard about the call to boycott the community members, accusing them of spreading violence in Khargone.
India will need $8 trillion (around Rs 588 lakh crore) of gross capital formation or new greenfield assets to become a $5 trillion (around Rs 368 lakh crore) economy by FY2027, a report said. The report by Deloitte said despite the COVID-19 disruption, FDI inflow into the country provides necessary optimism and display underlying strengths of the Indian economy. In FY2020-21, FDI inflows (including equity, re-invested earnings, and capital) amounted to a record $81.72 billion, 10 per cent higher than the previous financial year, it said.
According to officials, inflammatory speeches were made during a protest against derogatory remarks made against Prophet Mohammad by now-suspended Bharatiya Janata Party spokesperson Nupur Sharma.
Jugraj made his International debut against France during the FIH Hockey Pro League matches in South Africa
The 'yellow' alert restrictions stipulate that shops and establishments of non-essential goods and services and malls will open based on odd-even formula from 10 am to 8 pm.
Incessant showers caused landslides and floods in various parts of the country leaving at least 17 people dead on Wednesday while thousands more were forced to move to safety as rivers swelled and water reservoirs filled up fast.
With the COVID-19 positivity rate touching 0.55 percent, the Delhi government has decided to re-impose night curfew from Monday, according to sources.
He alleged that the BJP made people burst firecrackers on Diwali.
Police are probing various angles, including the assailants coming from neighbouring Kerala.
Only Indian players can get vaccinated here, the BCCI source said.
Besides opening up the possibility of a policy that allows vintage cars retrofitted with electric batteries to ply on roads, this also gives a clue to how cars older than 15 years that are banned can be valued again by a similar conversion to EVs, says Ritwik Sharma.
'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
The UFTA is an umbrella body representing 41 associations and unions of goods and passenger segments, including trucks, buses, autos, tempos, maxi-cabs and taxis plying in the Delhi-NCR region.
