This is a national leadership gone so wrong that India's most powerful prime minister in four decades has personally taken charge of medical oxygen shortages, observes Shekhar Gupta.
ITC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by Reliance Industries, ONGC, Tata Steel, Tech Mahindra, Sun Pharma and SBI. On the other hand, IndusInd Bank plunged nearly 15 per cent. Maruti, Bajaj Finance and Titan were the other laggards.
Spending continues to be less as people who are getting direct benefits from the government are choosing to save in the current situation.
Projects include steel plant & railway line; Modi's visit first by a PM to the tribal belt in 30 yrs
The federal agency has filed its case under the criminal sections of the Prevention of Money Laundering Act (PMLA) taking cognisance of a recent first information report (FIR) registered by the Central Bureau of Investigation (CBI) in the same case, they said.
Tata Steel was the top laggard in the Sensex pack, cracking over 6 per cent, followed by SBI, IndusInd Bank, HDFC, ICICI Bank and ONGC. Bajaj Auto, Maruti and Asian Paints were the only gainers.
Infra segment, refinery product impacted the most, even as contraction narrows in latest month.
The central government is devising a mechanism to step up screening imports to protect domestic manufacturers. The details of the online monitoring system may find mention in the foreign trade policy 2021-26, which will kick in next month. The online system will make the data available to the government as well as industry about the countries from where the goods are being imported, and their quantity and quality. The data can help domestic producers analyse the market potential for such goods, said a senior government official. In the past 16 months, the government had implemented a steel- and coal-import monitoring system.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
Top gainers in the Sensex pack included Tech Mahindra, Maruti, NTPC, Axis Bank, Tata Steel, Bajaj Auto, Tata Motors, Bajaj Finance, M&M and Kotak Bank, rising up to 3.77 per cent.
For the past one week, Modi has been holding in-person meetings with Union ministers apparently to take stock of the work done by the government in the last two years and to discuss various issues.
Government may also consider giving relief to some of the worst-affected sectors.
M&M was the top laggard in the Sensex pack, cracking over 4 per cent, followed by Axis Bank, IndusInd Bank, Hero MotoCorp, Sun Pharma and ICICI Bank. On the other hand, Bharti Airtel, Asian Paints, Tata Steel, NTPC, HUL and Reliance ended with gains.
The China-India bilateral trade in the first half of the year totalled $57.48 billion, up 62.7 per cent year on year, perhaps the highest in recent years amid the Ladakh impasse and the COVID-19 pandemic, according to data released by China's Customs. Though Indian exports to China picked up with 69.6 per cent year on year increase, the trade deficit, a structural problem for India for long, climbed to 55.6 per cent. According to data released by China's Customs, India's exports to China reached $14.724 billion, up 69.6 per cent year on year in the first six months and India's imports from China amounted to $42.755 billion, up 60.4 per cent.
Taking strong exception to former West Bengal chief secretary Alapan Bandyopadhyay skipping a meeting of Prime Minister Narendra Modi, government sources on Wednesday said his conduct has made a severe dent to Indian Administrative Service and it could lead to anarchy.
A certain type of TGV, called V150, holds the world record for the highest speed on any national rail system. This record has been in place since April 2007.
With an aim of boosting manufacturing and exports amid sharp fall in the rupee, the government has decided to take a slew of steps, including enhancing steel production capacity to 300 million tonnes and raising textile exports by 30 per cent this year.
Road and rail traffic was partially affected in some regions on Monday during a 'Bharat bandh' called against the Agnipath military recruitment scheme, while protests appeared to taper off in many states, with authorities stepping up security and imposing curbs after days of unrest.
With the United States adopting protectionist policies and hiking import duties, a trade war like situation has emerged.
Coal, natural gas, refinery products and cement grew by 16 per cent, 7 .4 per cent, 2.7 per cent, and 16 .6 per cent in April this year, respectively.
Kavaratti will be commissioned before end-2019 -- three years later than contracted.
Bajaj Finance was the top laggard in the Sensex pack, tanking up to 8 per cent, followed by M&M, Tata Steel, Bajaj Auto, ONGC, HDFC Bank and Kotak Bank. On the other hand, TCS, Tech Mahindra, HUL, Axis Bank and ITC were the top gainers.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
The NCRTC, which is executing the country's first RRTS, said the contract was awarded following the set procedure and guidelines.
Far more important than governance is to ensure how different states get necessary representation a'The pressure to expand the council of ministers will come from states where the BJP has formed a government after ousting the Congress,' predicts A K Bhattacharya.
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
Centre plans to acquire land and then give it on lease to miners.
The commerce department has said that earnings through the new tax will equal the losses faced by Indian industry after the US tariffs on steel and aluminium.
Coal, crude oil, natural gas, cement, and electricity recorded a negative growth of 8.6 per cent, 5.4 per cent , 3.9 per cent, 4.9 per cent and 2.9 per cent, respectively, in August.
Britain said it had imposed asset freezes on Chelsea soccer club owner Roman Abramovich
The Centre and states are looking to further tighten the GST registration process and legal measures to deal with the rising cases of fake invoicing. A meeting of the law committee of the GST Council has been convened on Wednesday to discuss these issues, finance ministry sources said. The committee, comprising senior central and state tax officers, would also discuss the GST fake invoice frauds, further tightening of the GST registration process and work out other legal measures including necessary law amendment required in the GST Act to curb the menace of fake invoicing, they added. Also the provisions related to deemed registration under Goods and Services Tax (GST) law may be tightened to prevent the misuse of such provisions by fake dealers and the provisions related to suspension of registration may also be streamlined to make the procedure of suspension and cancellation of registration more efficient and faster, so that such fraud operators can be prevented in time from continuing to pass on fake credit down the chain.
The eight sectors, which also include fertilisers, steel, natural gas, electricity and crude oil, had expanded by 1 per cent in June last year.
To ensure smooth allocation of 204 cancelled coal blocks, the government has set up a high-level inter-ministerial panel that would provide advise on policy issues and interact with the industry.
The Finance Ministry has called a meeting of heads of public sector banks to clear stalled projects.
FinMin has already sought inputs from different central ministries for the Budget speech, which would be the last Budget of the current BJP-led NDA government before the 2019 general polls.
"I have not received any proposal from the ministry of steel," finance minister told reporters here, when asked whether government was considering roll back of export duty on steel. Earlier this week, Steel Secretary Raghav Sharan Pandey had said the producers' demand for a withdrawal of export duty was under consideration for the government and a decision was expected soon.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Does IAS officers' work go unappreciated, asks Ajit Balakrishnan.
The Central Bureau of Investigation will be filing a fresh case in connection with alleged irregularities in connection with allocation of coal blocks by the end of this month in which it may name a corporate and certain former officials of the Union coal ministry.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
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