'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
New Zealand opening batsman Martin Guptill has been dropped for the Test series against Pakistan and the uncapped Jeet Raval is poised to make his debut.
India's fuel demand in May slumped to its lowest in nine months as restrictions to curb the second wave of COVID infections stalled mobility and muted economic activity. Fuel demand fell 1.5 per cent to 15.1 million tonnes despite the low base of May 2020 and was down 11.3 per cent when compared to the previous month, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. India was under one of the world's strictest lockdowns in May last year, which brought all mobility and economic activity to a grinding halt.
They also warned that banks will start reporting higher non-performing assets after September, once the six-month moratorium on loan repayment ends.
Darren Sammy's success in captaining the West Indies to the World Twenty20 title has been recognised by his native St Lucia after it was announced that the island's main cricket ground would be renamed in his honour.
Pursuing a largely unrewarding Olympic sport in a cricket-obsessed country requires adjustments but heptathlete Swapna Barman has taken it to a new level -- squeezing six toes in each shoe designed for five.
A court in New Delhi on Wednesday pulled up the police for 'apparent absurdity' in clubbing a man's complaint about alleged burning down of his house during the north-east Delhi riots last year with another one and later arresting him in the same matter -- making him both a complainant and the accused.
From the protests in Belarus, to people in Beirut picking up the pieces after the deadly blast, to the Democratic National Convention held in Delaware in the United States, here are the top images from the week gone by.
This is the second increase in rates of petrol this month while in case of diesel it wipes away a part of the hike effected earlier this month
Thousands and thousands of protesters, many of them students who skipped school, have gathered in cities across the world kicking off a day of worldwide protests calling for action against climate change ahead of a United Nations summit. From the Pacific Islands to Australia and India, protesters took to the streets on Friday, demanding their governments take urgent steps to tackle the climate crisis and prevent an environmental catastrophe. Greta Thunberg, the 16-year-old Swede who inspired the climate strike, tweeted her support. Check out photos from all over the world.
Want to catch up on all that happened across the world in the week gone by? Here are 10 images that says it all.
Interest rates on all loans linked to MCLR stand reduced by 5 bps with effect from May 10, 2019: SBI
Eight suspected Pakistani nationals, with some of them involved in terror activities, were detained by security forces in Maharajgunj when they allegedly tried to cross Indo-Nepal border, official sources said on Sunday.
Small scale and cottage industries which are labour intensive will be severely hit.
Promoter shareholders -- Vodafone Group and Aditya Birla Group -- have reiterated to the board that they intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, amounting to a total of Rs 18,250 crore, as part of the Rs 25,000-crore rights issue.
A day after an under-construction flyover collapsed in the city leaving at least 24 dead, the police on Friday night arrested three top officials of a Hyderabad based company which was building the flyover and slapped murder charges on them.
The police lodged a suo motu case against unknown persons in connection with their involvement in the mishap, a police officer said.
The partially convertible rupee was trading at 65.87/88 per dollar.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
The Railways plans to float an independent fund.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
Exporters are of the view that while direct exports to Pakistan will be nearly nil this month, and in the coming few months, alternative markets can be explored for exporting tea, which was originally meant for Pakistan.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
Mapping all its 13 lakh employees and identifying potential quarantine facilities for each of them is part of the protocol drafted by Central Railway to insulate its staffers from Covid-19. The document, 'Rail Pariwar Dekh Rekh Muhim' (drive to take care of the railway family)' lists a series of steps to be followed by zonal railways to keep employees safe.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
Pakistan will buy sugar and cotton from India, newly appointed Finance Minister Hammad Azhar announced on Wednesday, lifting a ban on their import from the neighbouring country imposed in the wake of heightened tension over Kashmir in 2019. The decision was taken at the meeting of the economic coordination committee (ECC), which was chaired by Finance Minister Azhar.
The engineering marvel defines the Kolkata skyscape.
Parts of the country are reeling under severe heat wave conditions, resulting in temperatures soaring in the 40s. In fact, Banda in Uttar Pradesh recorded the highest temperature of 47 degree Celsius on Monday. India is really feeling the heat and these images prove it...
'They are starting to move more quickly and we would just like to continue to see bold action being taken.'
Darjeeling is on the boil over the demand for a separate Gorkhaland state. June and July are bad months to have a strike. Tea picking during its most valuable season has been affected. Those consequences will be felt all over the world and ultimately damage Darjeeling tea.
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
Over hundred dead, hundreds more being treated for sun strokes. Almost 30 crore people across India are facing the brunt of the summer heat and shortage of drinking water.
West Indies' big hitting batsman Chris Gayle has backed his Twenty20 captain Darren Sammy after his emotion-filled speech following their World T20 title win at the EdenGardens in Kolkata on Sunday.
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
The World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for the Maldives and $128.6 million for Sri Lanka.
Despite the failure of most e-commerce players to meet orders through the first week of the lockdown, there has been no serious crisis, thanks to supplies from 11 million small kirana and mom-and-pop stores across the country with the support of over 300,000 distributors and wholesalers.
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
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