Referring to the note, Sinha said the official who initiated it was not a part of the negotiating team.
Union Road Transport and Highways Minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. Addressing a virtual event organised by industry body CII, Gadkari further said that the National Highways Authority of India (NHAI) should also have a financial arm like the power ministry's Power Finance Corporation (PFC). "We have a surplus of dollar reserves in the country. I have decided to talk with the RBI Governor, about how we can formulate a policy by which we can use this foreign exchange reserves for development of infrastructure in the country," he said.
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
Fitch said COVID-19 is still in India and it is very likely that the government will have to spend a bit more on fiscal measures to support the economy.
In his video message to celebrate the birth of an "extraordinary Constitution" that established India "as the biggest sovereign democracy in the world", the UK PM reiterated his plan to visit India in the coming months.
"NSO is a private company, it is not a governmental project and therefore even if it is designated, it has nothing to do with the policies of the Israeli government," Israel's Foreign Minister, Yair Lapid, said at a joint press conference with Prime Minister Naftali Bennett and Finance Minister Avigdor Lieberman at the Prime Minister's Office on Saturday evening.
Chinese Foreign Minister Wang Yi on Sunday met Sri Lanka's top leadership and discussed a host of issues, including the debt crisis faced by the island nation, investments, promoting tourism and the fight against the COVID-19 pandemic as the two countries marked the 65th anniversary of diplomatic ties.
The 193-member UN General Assembly adopted the draft resolution 'Humanitarian consequences of the aggression against Ukraine' by Ukraine and its western allies, with 140 nations voting in favour, five against and 38 abstentions. India abstained on the resolution.
Poonawalla noted that reducing the timeframe would give "real relief" to the people who want to travel abroad.
In his address, 69-year-old Khan also expressed disappointment over the Supreme Court's verdict on the National Assembly deputy speaker's controversial decision on the rejection of no-trust motion against him.
The US, in coordination with allies and partners, continued to forcefully respond to Russia's "unjustified, unprovoked and premeditated" invasion of Ukraine by imposing sanctions on Putin and Lavrov.
The US, he said, rejects any Chinese claim to waters beyond a 12-nautical mile territorial sea derived from islands it claims in the Spratly Islands (without prejudice to other states' sovereignty claims over such islands).
China has been an aggressor against India along the Himalayan border, a top American diplomat nominated by President Joe Biden as his next envoy to Beijing has told lawmakers, stating that the US must hold the Chinese government accountable for failing to play by the rules.
Fitch Ratings on Monday said uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays in privatisation of India's second-largest fuel retailer, Bharat Petroleum Corporation Ltd (BPCL). Affirming BPCL's rating at 'BBB-' with a negative outlook, Fitch said it continues to treat the potential divestment of the company by the Indian government as an event risk. "Bidders are conducting due diligence, but uncertainty over the bidder consortiums and process complexity, including valuation, may lead to potential delays.
Rahul targets the Modi government on Twitter, using the hashtag "BikGayaChowkidar".
The 50-share NSE Nifty ended flat, up by 9.85 points, or 0.09 per cent, at 10,399.55.
'Investors with as little as Rs 1 can start investing in digital gold.'
Moody's Investors Service on Tuesday slashed India's growth forecast for the current financial year to 9.3 per cent saying that the second wave of coronavirus infections hampers economic recovery and increases risk of longer-term scarring. Moody's, which has a 'Baa3' rating on India with a negative outlook, said obstacles to economic growth, high debt and weak financial system contrain sovereign credit profile. The US-based rating agency had in February forecast a 13.7 per cent economic growth for the current fiscal (April 2021-March 2022).
Fitch expected economic activity to contract by 5 per cent in FY21 due to the strict lockdown measures imposed since March 25, before rebounding by 9.5 per cent in FY22.
US retail giant Walmart has said it is "open to an IPO" for its Indian e-commerce arm Flipkart but there is "no specific timeline" for the share sale. Both Flipkart and payment app PhonePe continue to do well, Walmart International president and CEO Judith McKenna said while speaking at the DB Access Global Consumer Conference on June 7. "We always made it clear from the day we made the acquisition or the investment, that we would be open to an IPO," said McKenna. However, she noted that there is no specific timeline for the IPO.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Top Pentagon officials have shown an understanding of India abstaining at the UN on resolutions against the Russian aggression against Ukraine but had a hard time pacifying many US lawmakers during a Congressional hearing on the Indo-Pacific on New Delhi's repeated abstention at the world body in New York.
The Congress on Friday questioned the silence of the government on the veracity of a video which purportedly shows injured Indian soldiers in captivity of the Chinese and said if it is genuine, then Prime Minister Narendra Modi must ensure that China is held globally accountable for indulging in war crimes.
S&P has maintained a stable outlook on the basis of their expectation that over the next two years the growth will remain strong and India will maintain its sound net external position and fiscal deficit will remain elevated but broadly in line with their forecast.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
Domestic pharma major Panacea Biotec in collaboration with Russian sovereign wealth fund Russian Direct Investment Fund (RDIF) has begun the production of 'Sputnik V' COVID-19 vaccine in India, according to a joint statement issued.
day after Finance Minister Nirmala Sitharaman announced a Rs 1 lakh crore spending package, a top government source said the Centre has not closed its options for another stimulus package.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
