Chief Economic Advisor Krishnamurthy Subramanian said India's economy will witness a decline in the current fiscal, but the drop will be limited if there is an economic recovery in the October-March period.
The Enforcement Directorate (ED) on Tuesday raided a dozen locations including the head office of the Congress party-owned National Herald newspaper in New Delhi as part of an ongoing money laundering probe, officials said.
The Supreme Court of India on Wednesday asked the Centre to furnish by October 31 its affidavit in response to petitions challenging the validity of certain provisions of a 1991 law, which prohibit filing of a lawsuit to reclaim a place of worship or seek a change in its character from what prevailed on August 15, 1947.
Gandhi, 75, was earlier asked to depose on June 8 but she sought a fresh date from the federal probe agency after she contracted the coronavirus infection.
A barfi guaranteed to lift your spirits this festive season.
"To make sure there isn't a Covid surge in the country, PM Modi has asked us to be careful. The government is also preparing if at the Covid cases increase. Today, mock drills are conducted across Covid hospitals in the country to make sure people get proper treatment," Mandaviya said.
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
For now, the DMK can be expected to sound the bugle for Opposition unity at the national level, predicts N Sathiya Moorthy.
The Congress is gearing up to demonstrate a political show of strength on Monday when the party leader Rahul Gandhi will appear before the Enforcement Directorate (ED) in connection in connection with a money laundering case linked to the National Herald newspaper.
On October 3, Subramanian, a Chennai-based mechanical engineer, had tagged the Twitter handles of NASA, LRO and ISRO in a tweet, asking, "Is this Vikram lander? (1 km from the landing spot) Lander might have been buried in Lunar sand?"
The case pertains to the ED probe into the alleged financial irregularities in the party-promoted Young Indian that owns the National Herald newspaper.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
Congress leaders Abhishek Manu Singhvi and Randeep Surjewala said party president Sonia Gandhi has been summoned by the ED for questioning in a money laundering case linked to the National Herald newspaper on June 8, and she was determined to appear before the agency as she has nothing to hide.
Former CEA Arvind Subramanian called for research in the area and urged the NSE Centre for Behavioural Science in Finance, Economics and Marketing to explain why as the economy has been going down, the stock market has been going up.
The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
A video clip of two Dravida Munnetra Kazagam men removing and throwing away two flex boards embossed with the name and picture of 'Amma' from a state-run canteen in Chenani went viral on Tuesday and they were expelled from the party.
He has not been issued fresh summons and it is understood that his questioning has ended, at least for now.
The White House described the development as "quite good news".
Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government's Budget for fiscal year beginning April 1, 2021. The Economic Survey 2020-21, authored by a team led by Chief Economic Adviser Krishnamurthy Venkata Subramanian, details the state of different sectors of the economy as well as reforms that should be undertaken to accelerate growth.
For those who enjoy stand up comedy, Comicstaan 3 makes amusing viewing, enough to lift the monsoon gloom, applauds Deepa Gahlot.
Chief Minister M K Stalin inspected several inundated areas here along with top officials including Chief Secretary V Irai Anbu and directed authorities to take swift action to drain flood water.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent. On the industry demand for bringing petroleum products under GST net, he said since fuel constitutes a larger part of their revenues, both the Centre and states have some apprehension.
In his counter-affidavit, Radhey Shyam, who was recently released by the Gujarat government on remission, said that none of the petitioners are related to the case and are either political activists or "third party stranger".
The Supreme Court on Wednesday agreed to hear on March 9 Bharatiya Janata Party leader Subramanian Swamy's plea seeking a direction to the Centre to declare 'Ram Setu' a national heritage monument.
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
The ministry said 151 out of the 578 people who contracted the infection have recovered or migrated.
Rajya Sabha Chairman M Venkaiah Naidu on Thursday said legislators across the country should be driven by passion, performance and procedural integrity, and desist from disrupting law-making bodies.
In a strong counter to the narrative building around reasons for the exit of Professor Pratap Bhanu Mehta, Ashoka University Chancellor Rudrangshu Mukherjee has said the institution remains committed to academic freedom and intellectual independence while its Board of Trustee Chairman Ashish Dhawan promised an open line of communication.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
Tamil Nadu, Telangana and West Bengal reported their first COVID-19 variant Omicron cases on Wednesday, four more persons each tested positive in Maharashtra and Kerala.
It was after a gap of two decades that saw such an occasion where MPs of the upper house enthralled their fellow colleagues at a dinner hosted by Chairman and Vice President M Venkaiah Naidu for 72 retiring members.
Swamy now wants Arvind Subramanian, one of the front runners for the post of the new RBI governor to be sacked.
Stalin called on Ravi at the Raj Bhavan here and urged him to expeditiously send the Bill to exempt Tamil Nadu from the purview of the National Eligibility cum Entrance Test for getting Presidential assent, an official release said.
The Places of Worship Act is 'An Act to prohibit conversion of any place of worship and to provide for the maintenance of the religious character of any place of worship as it existed on the 15th day of August 1947, and for matters connected therewith or incidental thereto'.
If the prime minister says clearly there is going to be no NRC and that the Census will drop the NPR questions, the Census will proceed. He will not, observes Aakar Patel.
Thennarasu said that while the governor had to grant his approval to the bill, he informed them it was still under his consideration.
The man had attended a stag party recently in Manali in Himachal Pradesh.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
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