Urjit Patel panel wanted all members to be appointed by RBI
In his letter, Singh hinted since the Central Public Works Department's tableau already featured Bose, West Bengal's float was not included for the parade, without saying it in so many words.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on the benchmark interest rate in the backdrop of global scare due to the new coronavirus variant Omicron. Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) is scheduled to announce the policy resolution on Wednesday. If the RBI maintains status quo in policy rates on Wednesday, it would be the ninth consecutive time since the rate remains unchanged.
Data suggests that households too are expecting inflation to subside, with the three-month-ahead and the one-year-ahead expectations declining by 40 basis points, reports Abhishek Waghmare.
However, an ICC spokesperson, according to a report in cricket.au.com., said that playing conditions for the men's T20 World Cup will be discussed in the organisation's Cricket Committee, which is scheduled to meet in the middle of this year, before they are formally signed by the Chief Executives Committee (CEC).
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
Speculation is rife that Trump may skip Sabarmati Ashram to make time for a visit to Agra, Vinay Umarji reports.
The additional cash will now give the Centre more headroom for stimulating the economy.
The approval for provisioning of Rs 20,000 crore as subordinate debt to provide equity support will benefit 2 lakh stressed MSMEs.
Though the ministry is considering 2017-18 as the new base year, no decision has been taken as the committees of experts are awaiting some more data before finalising their opinion.
Projects worth Rs 500 crore and above and up to Rs 1,000 crore can be cleared by the Finance Minister.
'Thanks to the excellent and trustful cooperation we are enjoying, like from the G20 Leaders' Summit, we are confident that these Olympic Games Tokyo 2020 will be a great success'
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
The Central Board of Secondary Education (CBSE) has rationalised by up to 30 per cent the syllabus for classes 9 to 12 for the academic year 2020-21 to reduce course load on students amid the COVID-19 crisis, Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' announced on Tuesday.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
Autorickshaw drivers had threatened to go on a strike in support of their demands, which included a hike in fares.
Australia's winter sports community has been forced back into mourning with the sudden death of 20-year-old Olympic figure skater Ekaterina Alexandrovskaya in Moscow.
The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth. The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.
Indian comic book character Chacha Chaudhary has been declared as the mascot of the government's Namami Gange Programme with an aim of bringing behavioural change among children towards the Ganga and other rivers.
The Reserve Bank on Friday projected retail inflation to be in 5-5.2 per cent range during the first half of the next fiscal year, expecting further softening of vegetables prices in near term. Also, it has lowered the retail inflation forecast for the current January-March quarter of 2020-21 fiscal at 5.2 per cent. The Reserve Bank (RBI) has kept the key policy rate unchanged at 4 per cent, with an accommodative stance, so as to ensure that inflation remains well within the target, Governor Shaktikanta Das said while announcing the last monetary policy of 2020-21.
This will have an impact on inflation as everyone in the value chain passes on the costs.
According to sources, around 10 crore doses of the Sputnik V vaccine is likely to be imported for emergency use in the country in the next six to seven months.
With the expert panel's recommendations, the project comes a step closer to getting the environment clearance (EC), to be given by the Union Environment Minister.
The government on Wednesday asked the Reserve Bank to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side for another five-year period ending March 2026. To control the price rise, the government in 2016 gave a mandate to the RBI to keep the retail inflation at 4 per cent with a margin of 2 per cent on either side for a five-year period ending March 31, 2021.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, on Wednesday finalised its report.
The agitation demanding his removal had been launched on Tuesday and resumed Wednesday morning by a large number of Young Mizo Association members in front of the CEO's office from 8 am. The protestors later dispersed.
The IOA also said that the decision will now relieve the Indian athletes of having to train amidst lockdown due to the coronavirus pandemic.
Kohli's deputy Ajinkya Rahane will lead India in the final three Tests.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
Dilip Vengsarkar's future as a member of the National Cricket Academy (NCA) committee will only be decided when the Board of Control for Cricket in India holds it's next Annual General Meeting, even as the Board is set to appoint a full-time Special Projects director.
'The AMs are a different beast and reflect the political play within the government.' 'Prime Minister Modi does not need to assuage any interest group to take the final call on any decision that belongs rightfully to the Cabinet,' points out Subhomoy Bhattacharjee.
RBI has cited at least 10 areas where it has no control over PSBs.
Concerned with the continuous downward revision, the EPFO has since last month begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll.
A likely easing in inflationary pressures in the forthcoming months will reopen the window for the RBI to once again prioritise growth and ease its interest rates.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
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