The forthcoming Budget, the last full one before the 2019 Lok Sabha elections, is expected to contain a number of sops and feel-good announcements, especially regarding social sector schemes.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
Glass shortage in China and the rising prices of imported glass used in finished solar panels have already hit the cost of solar panel imports. The cost of solar modules imported by India have increased 22 per cent since June last year. India imports close to 90 per cent of its solar cells and modules, of which nearly 80 per cent is from China. Domestic solar equipment makers import glass panels and are the largest suppliers in China. The price of a solar module glass has increased 150 per cent in the past six months, revealed industry estimates.
Modi said that while in the last five years, the focus was on to build next generation infrastructure in the country, there has also been an increase in the forest cover and number of protected areas.
Against a turbulent and uncertain background, Budget 2017-18 hewed a steady, forward-looking course, says Shankar Acharya, former chief economic adviser to the government.
Expenditure cuts necessitated by slowing revenue growth, weak industrial activity worrisome portents
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
The greatest disconnect lies in the estimates of industrial growth.
It came on the back of tepid dispatches in the March quarter as consumer sentiment took a knocking, owing to uncertainty ahead of the general election.
'Even if Serum Institute and Bharat Biotech were successful in ramping up production overnight, what happens to the capacity after the demand from India is met?' asks Sanjeev Nayyar.
Experts warn of over-interpreting the numbers and said their sustainability needed to be watched beyond November, says Indivjal Dhasmana.
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
'In the Middle Ages, when Muslims were around 15 per cent of the population of the world, they accounted, according to one estimate, for 90 per cent of scientific advancements.' 'And today, when Muslims are around 22 per cent of the population of the world, their share in scientific writings is less than 1 per cent!' point out Ziya Us Salam and M Aslam Parvaiz.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Indian indices have hit all-time highs in the New Year and the sentiment remains strong. All valuations are also at extremely high levels, cautions Devangshu Datta
The policy proposes a single-window platform for facilitation of the Indian software product industry, to help fast-track legal and regulatory issues over import and export, as well as setting up and winding up enterprises.
News of all that transpired on and off the football field
March requires 20% jump to meet year's goal; CBDT chief tells staff to sweat it out to meet target
Chennai-based Indowind Energy is in advanced stages of negotiations to acquire a wind energy company in Europe for an estimated price of around $100 million (Rs 400 crore). The acquisition, if successful, will help the wind energy and farming company to expand its footprint both in domestic and global markets.
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
Lower numbers signal that that companies, especially the technology services firms, are steadily reducing the dependency on non-immigrant visas.
Starting early will help departments to get funds faster.
Over 1.6 million employees working in the estimated 240 central public sector undertakings (PSUs) are likely to receive a 50 to 60 per cent salary increase, possibly with retrospective effect from January 2006. The second PSU pay revision committee, headed by former Supreme Court Justice M Jagannadha Rao, is in advanced stages of finalising its award due April-end and plans to submit its report to the government soon after.
India, which has shipped 'Made In India' COVID-19 vaccines to around 25 nations, on Wednesday urged the international community to stop 'vaccine nationalism' and actively encourage 'internationalism', underlining that hoarding superfluous doses will defeat global efforts to attain collective health security and combat the pandemic.
While efforts are being mounted on a war footing to arrest its spread, COVID-19 will impact economic activity in India directly through domestic lockdown. The second-round effects, it said, would operate through a severe slowdown in global trade and growth.
Pentagon spokesman Navy Captain Jeff Davis said IS had for weeks kept Mosul's estimated population of 1.5 million from escaping, with the start of the offensive offering them no respite.
Officials said there had been no official word or indication from the top yet. The expectation from officials is to do what they can, but it is understood that all fiscal and budgetary targets don't matter anymore.
Cambridge, Massachusetts-based Moderna's announcement comes just a week after Pfizer and Biontech said their COVID-19 vaccine candidate was found to be more than 90 per cent effective in preventing COVID-19 in participants.
The ISRO had earlier said Chandrayaan-2 will be launched in a window from January-February 16, 2019.Sources said it is expected by the middle of next month but no date has been finalised.
The 'request for proposal' for the indigenous construction of the six submarines will be issued soon, they added.
Why do Innovation Revolutions happen outside India, asks Ajit Balakrishnan.
As gold prices turn prohibitive, traders fear a drop of as much as 50% in sales over the previous season.
'Because of the melting of ice as well as irresponsible human behaviour such as throwing soil and plastic into the sea, there has been a rise in temperature.' 'I fear there will be direct and dangerous consequences for us.'
Other losers in the Sensex pack included IndusInd Bank, Tata Motors, TCS, Yes Bank and L&T, falling up to 3.26 per cent.
In the last budget, then finance minister Arun Jaitley had allocated Rs 85,010 crore for the education sector which was later revised to Rs 83,625.86 crore.
Sitharaman said the government will bring in a new national education policy to transform India's higher education system into one of the best in the world.
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