Move follows Tata Steel decision to sell its loss-making businesses in Britain
India is one of the fastest-growing countries in the plastic money segment, with close to 350 million debit cards and 19 million credit cards in circulation.
Given the broken balance sheet and the limited fiscal room, the government has to kick off investment: Vikas Khemani & Stephen Gallagher.
The nominees are Congresswoman Deb Haaland as Secretary of Interior, Jennifer Granholm as Energy Secretary, Michael Regan as administrator for Environmental Protection Agency and Brenda Mallory as Chair of the Council of the Council on Environmental Quality.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
Narendra Modi has proved through execution of this event in Ayodhya that amongst all his contemporaries in politics he knows ordinary Indians like none other, notes Sheela Bhatt.
'If the authorities go about completing this project the way they have proposed, this is going to cause a HUGE environmental impact not only on Malabar Hill but also on the rest of the city.'
Indian Institute of Technology Madras (IIT Madras) said on Monday that it had raised the highest-ever corpus of annual funds for the institution, garnering Rs 231 crore from alumni, industry and individual donors for 2022-23 (FY23). Its funding increased 76 per cent year-on-year (YoY) compared to Rs 131 crore in FY22, according to data shared by the institute. The number of donors contributing more than Rs 1 crore increased 64 per cent YoY.
'To get a 100 per cent consensus document without any reservation, any bracket, any chair summary is unprecedented in the history of multilateral forums.'
Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law. Also, the applicability of prosecution provisions should not be based on the absolute amount of tax evasion but should be based on real intent to evade the taxes and a certain percentage of the tax payable, it stated.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
'They (the ransomware attackers) are not after any VVIP data.' 'Had that been the case, they would have quietly installed a different malware.'
Instead of relying on technology that is not in their control, businesses should stop using SMS based OTPs and start using other software-based or hardware-based token authentication, which are in their control, says Venkata Satish Guttula.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
'An area of land has already been earmarked for their protected habitation.' 'There are also steps being taken to take care of the coral zone and mangroves.'
Modi and Chouhan have visited Mahakoshal multiple times and reached out to tribals to shore up support for the BJP.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Fitch on Tuesday affirmed India's sovereign rating at 'BBB-' with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge. India's rating has been unchanged at 'BBB-', which is the lowest investment grade, since August 2006. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," it said in a statement, adding strong growth potential is a key supporting factor for the sovereign rating.
On his sixth visit this year to Karnataka, where assembly elections are due by May, he also asserted that the 'double engine' government is a necessity for the fast-paced development of the state.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
'The aim is also to probe how the ministry and testing agencies made negligence in examining these OEMs, so that such negligence is avoided in the future.'
The biggest question looming over the summit is whether there will be a joint leaders' declaration in view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document.
Encouragingly, the recovery also appears to be becoming broad-based
Microsoft chairman and CEO Satya Nadella on Wednesday highlighted the importance of driving inclusivity and empowerment through technology and economic growth and asserted that the company is "very committed to India". He was speaking at Microsoft's Tech for Good and Education showcase, an event that highlighted the impact created by technology in the areas of philanthropic work and education. Nadella did a walk through, interacting with teachers, students and professionals who are making a difference in the society, by leveraging various Microsoft programs, initiatives and tools.
Capital gains exemption limit and a steep reduction in the highest surcharge will empower the masses with enhanced liquidity flow that can be invested in real estate, points out Dhaval Ajmera.
Google is investing heavily in creating business tools and products, driven by open source technology and machine learning
People may soon be able to use SMS communication with government departments as a documentary proof while utilising citizen-services for making payments, registrations and various other schemes.
Taking strong exception to the Board of Control for Cricket in India 'misleading' everyone on key issues such as disbursement of large amount of funds to state associations, the Supreme Court-appointed Justice Rajendra Mal Lodha-panel on Tuesday said it is unfortunate that their directions have been 'misinterpreted'.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
A day after the RBI raised the benchmark lending rate by 35 basis points, Kotak Mahindra Bank Managing Director Uday Kotak on Thursday said the central bank may go for one more rate hike to bring inflation below its upper tolerance level of 6 per cent. Yesterday, the RBI indicated that it wants inflation to be within the band first and then move towards the target of 4 per cent, Kotak said at the CII Global Economic Policy Summit 2022. "My sense is that there could be one more rate hike and that may be the time for thinking about a pivot, but we got to watch very closely the data, and maybe around 6.5 per cent as it looks today, subject to what happens to the world, subject to what happens to oil, subject to what happens to many other things," he said.
'They have started becoming an important player, but not at the same level as they were in the earlier part of the decade.'
Fitch Ratings on Friday said it has revised the outlook on India's sovereign rating to 'stable' from 'negative' as downside risks to medium-term growth have diminished on rapid economic recovery. Fitch Ratings kept the rating unchanged at 'BBB-'.
The regulator is more carefully scrutinising applications by infrastructure investment vehicles that have a limited number of investors. They have been asked to broaden their investor base before application approval, according to two people familiar with the matter. The Securities and Exchange Board of India is concerned about the structure being used for getting around tax requirements, according to one of the sources.
'The senior army leadership has no interest in reconciling with Imran Khan, and no interest in seeing him return to power.'
The G20 declaration, which hit snags on the language to describe the Ukraine war, amounted to a 'coup' for host Prime Minister Narendra Modi though the final compromise statement reflected a stand far softer than those the United States and its Western allies have adopted on Russia, the world media said on Sunday.
A delegation from Israel's foreign ministry will be allowed to provide consular assistance from Doha for its citizens coming for the World Cup matches.
The United States on Tuesday sought greater engagement with India on the economic front, saying their ability to cooperate was critical to creating a more stable global financial system, balanced economic growth and an open trading system.
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