The Asian Development Bank has downgraded India's economic growth forecast for the current financial year to 10 per cent on Tuesday, from 11 per cent projected in April, on account of the adverse impact of the coronavirus pandemic. India's GDP growth recovered to 1.6 per cent in the last quarter of fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 per cent estimated in April to a revised 7.3 per cent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement. "Then a second wave of the pandemic induced many state governments to impose strict containment measures.
Thousands of demonstrators have hit the streets since April 9, as the government ran out of money for vital imports; prices of essential commodities have skyrocketed and there are acute shortages in fuel, medicines and electricity supply.
External Affairs Ministry Spokesperson Anurag Srivastava said India is committed to resolve all issues through dialogue, noting the way ahead to address the issue is negotiations.
'The aim of Russian policy is to reform European security, stop NATO expansion and in a more general sense -- set up the new rules of relations between the great powers.' 'From this perspective. the invasion of Ukraine is quite pointless.'
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
There is mounting evidence that suggests that Omicron subvariants -BA.4 and BA.5 - are infecting people who have been vaccinated.
Xi, 67, already roiling the Communist Party with a 'rectification' campaign and mass persecution of foes, will launch 'another brutal purge' following the Chinese army's failures on the Indian border, the Newsweek said in an opinion piece.
With the two armies again in a face-off at multiple points, there is apprehension of renewed clashes.
NTPC, Maruti, SBI, PowerGrid, Bajaj Auto, UltraTech Cement and Axis Bank rose up to 2.95 per cent.
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
'For someone who wants to invest for the future or his family, diversification is necessary.' 'Diversify across asset classes -- equities, gold, real estate, fixed income, commodities, and even cryptocurrency.'
Top commanders of the Indian Army on Monday carried out a comprehensive review of the country's security challenges, including in eastern Ladakh and other sensitive areas along the Line of Actual Control (LAC) with China, on the opening day of a four-day conference, people familiar with the developments said.
World leaders thanked India for its help and support in combating the coronavirus pandemic through "early and meaningful" shipments of COVID-19 vaccine doses, as they addressed the high-level UN General Assembly session this year.
The corporate sector does not care from where the money is coming.
The country has already laid down a 'red carpet' for businesses.
'It is certainly time for New Delhi to open up. Not only should it go ahead at full steam with the roads to the LAC, but the government must also allow tourists to visit these stunningly beautiful areas of Indian territory.'
Paytm is just embarking on building a TaoBao like entity in India, it may want to address a challenge that the latter faced a few years after its launch.
Union minister Ram Vilas Paswan appealed to people to boycott products from China and also directed officials of his ministry not to procure any Chinese products for day-to-day office use while his ministerial colleague Ramdas Athawale said all restaurants and hotels that sell Chinese food in India should be closed down.
China's slowing means commodity markets are no longer overheated.
Out of 18, four personnel were critically injured but they are responding to treatment and are stable now, people familiar with the matter said.
Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
Only West Asia and North Africa have a lower employment rate than India, points out Mahesh Vyas.
Thousands of Inter University Students' Federation (IUSF) students were seen sloganeering outside the Prime Minister's Residence in Wijerama Mawatha.
The reason, he said, was the external environment was weak.
People familiar with the development said Chief of Army Staff General M M Naravane and the top commanders will review the country's combat readiness in eastern Ladakh where Indian and Chinese troops have been locked in a bitter standoff for 17 months.
INS Vishakapatnam's ground attack and anti-ship capabilities are achieved through a bank of BrahMos cruise missiles that can be fired at targets up to 295 km away.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
Modi is as divorced from reality as Manmohan Singh. He might want to sound expansive and visionary, but to be credible he must have his feet on the ground and know the reality around him. Instead of delivering irrelevant homilies to small and hence poor farmers, the prime minister should be thinking in terms of creating a huge demand for alternative employment, mainly in the construction sector, and his promised hundred new cities is a capital idea, says Mohan Guruswamy.
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
When elected on July 18 -- which is almost a certainty, given the NDA's numbers in the electoral college -- Droupadi Murmu will be the first President born after Independence.
With its political colour dominated by less than democratic trends, BRICS currently leaves some of us wondering -- where in this grouping is there an assurance that human freedom will be respected unconditionally? It would be nice to see the new members of BRICS drawn from the ranks of countries wedded to preserving and guarding human freedom, observes Shyam G Menon.
The growth opportunity for a business, people running the business, governance structure at a company, technology adoption and the firm's belief in frugality are the list of priorities which should be considered before choosing a stock to invest in, Jhunjunwala said.
The government has also relaxed certain rules to cut delays in military purchase like allowing the three services to procure required weapons and equipment from a single vendor, the sources said.
'This novel format of diplomacy -- the informal summit -- will not only facilitate bilateral communication and reduce miscalculations at the very top level of the two governments, but possibly open the space for China and India to speak in one voice on various issues of mutual concern,' note Feng Renjie and Ding Kun Lei
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Thirty-two of the 36 people killed in the New Year eve stampede at Shanghai's iconic waterfront area have been identified, authorities said on Friday, as Chinese media and public criticised the administration's failure to prevent the tragedy that marred the gleaming financial hub's image.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
"Our country has never bowed down and will never bow down to any world power, and I am able to say this because of braves like you," Prime Minister Narendra Modi said on Friday while interacting with the soldiers, who were injured in the June 15 clash with the Chinese troops in eastern Ladakh's Galwan Valley.
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