Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
Commerce and Industry Minister Piyush Goyal on Monday said the existing foreign trade policy (FTP) will be extended for six months till March 31 next year. The government had earlier extended the FTP 2015-20 until September 30 this year due to the Covid-19 crisis. The FTP provides guidelines for enhancing exports to push economic growth and create jobs.
India recorded 50,035 cases of cyber crime in 2020, an 11.8 per cent surge in such offences over the previous year, according to the National Crime Records Bureau (NCRB) data. The Reserve Bank of India (RBI) last week once again cautioned bank customers of fraud, including those in Know-Your-Customer (KYC) cases. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protect yourself. Mayur Joshi, chief executive officer, Indiaforensic.com, a company engaged in the prevention, detection, and investigation of frauds says, "It is necessary to learn, to read about these scams."
The national anti-doping body said it has made improvements in the system to allay the fears of the Board of Control for Cricket in India.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
In an indication of easing financial stress among borrowers, the number of unsuccessful auto-debit requests through the National Automated Clearing House (NACH) platform declined in July, reversing a three-month trend that started with the second wave of the Covid-19 pandemic. According to the NACH data, of the 86.4-million transactions initiated in July, 33.23 per cent, or 28.7 million transactions, failed, while 57.7 million were successful. Compared to June, this is a significant improvement in bounce rates.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
The income-tax (I-T) department is working on integrating the new e-filing portal with stock exchanges to help tax authorities track trade transactions, including futures and options. The integrated system will look at discrepancies between the data disclosed by an assessee and match it with data fetched from stock exchanges, using artificial intelligence, said two officials in the know. This will help detect and red-flag such matters, particularly those related to non-filers of income-tax return (ITR).
A Delhi court on Friday convicted real estate barons Sushil and Gopal Ansal for tampering with evidence in the 1997 case of Uphaar Cinema fire which claimed 59 lives.
In India, younger workers willing to work at lower salaries are easily available, so you could find yourself out of a job before 60. Therefore, save for retirement with urgency, advises Sanjay Kumar Singh.
India lost the hosting rights of the 2021 men's World Boxing Championship to Serbia after the national federation failed to pay the host fee, prompting the International Boxing Association (AIBA) to terminate the agreement signed in 2017. The elite competition, which would have happened for the first time in the country, will now be held in the Serbian city of Belgrade.
The Congress veteran said that a stronger emphasis needs to be laid on grassroot leadership and that there is a need to rebuild the party's structure.
Nowhere on the planet, nowhere in mankind's history has such an idea taken the concrete shape in form of a law. The National Food Security Bill, which will come via ordinance and not after the debate in Parliament, is an incredible economic tool to tackle the hunger of poor Indians. Also, it has already been condemned widely as a political gimmick.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
It is mystifying how the NSE, a near-monopoly, gets protection, as the February 24 episode shows, when it is competition and accountability that should be the regulatory objective, says Debashis Basu.
Prime Minister Narendra Modi on Monday announced that the central government will provide free coronavirus vaccine to states for inoculation of all above the age of 18 from June 21, and asserted that vaccine supply would be increased significantly in the country in coming days.
The firestorm that Kangana Ranaut kicked with her comment that the Independence India won in 1947 was bheek intensified on Friday with leaders from the Bharatiya Janata Party and other parties demanding action against the actor even as a complaint was filed against her while some people took to the streets to burn her effigies.
The Civil Services of India continue to be a prestigious avenue for all those dreaming of 'making it'. Here's how you can be an IAS/ IPS officer.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
Newly-elected Pakistan Cricket Board chairman Ramiz Raja on Monday said resumption of bilateral assignments with India is "impossible right now" and he is "not in a hurry" for it either as his focus is solely on his country's domestic circuit at this point.
The recent protests by employees of Urban Company and the case of a a Zomato delivery executive who died in a road accident point to the severely straitened condition of gig workers during the ongoing Covid-19 pandemic. Budget 2021 had promised several measures to help the cause of gig economy workers, but most of them are yet to see the light of day. Even after a year, the country's gig workers continue to be without any social security cover or a minimum wage guarantee. "In Budget 2021, finance minister Nirmala Sitharaman had announced that the government is looking toward including migrant and gig workers for social security benefits," says Srinivas Kotni, managing partner, Lexport, a consulting firm. Parliament had passed the Code on Wages in 2019 and Code on Industrial Relations, Social Security and Occupational Safety, Health and Working Conditions in 2020.
On the completion of two years of the Pradhan Mantri Kisan Samman Nidhi, Prime Minister Narendra Modi on Wednesday said his government ushered a historic increase in the minimum support price (MSP) for crops and was doing everything possible to double the income of farmers.
'The really striking thing is that the Taliban has suo moto presented to us certain firm benchmarks against which it expects us to hold to account the Taliban rulers's actions in the period ahead' notes Ambassador M K Bhadrakumar.
"President Trump and his Republican enablers in Congress incited a violent attack Wednesday against the government they lead and the nation they profess to love. This cannot be allowed to stand."
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
'The vocal pacifists who monopolise the media in India need to answer a simple question: Would they have the Taliban or ISIS take over Kashmir or the rest of the country or let the army do its duty so that we are safe in our beds and free to demonise the soldiers in our cozy drawing rooms and television studios,' asks Colonel Anil A Athale (retd).
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
A three-judge bench headed by Chief Justice of India Sharad Arvind Bobde will hear the application on January 18 along with pleas raising the issue of farmers protesting at Delhi borders.
If Modi's political retreat -- he has tried to avoid a pre-1984 type of situation in Punjab -- helps soothe Sikh sentiments, nobody should complain Modi, asserts Sheela Bhatt.
The Bombay high court on Friday extended till February 5, the date of surrender for poet Varavara Rao, an accused in the Elgar Parishad-Maoist links case who is currently on medical bail, before Taloja prison authorities in Maharashtra.
'Instead of fighting over whatever will be left of the present world, the permanent members of the UN security council should have raised a little finger to arrest the death and devastation around us,' notes Ambassador T P Sreenivasan.
The Biden team updated its website to showcase four policy areas the incoming administration will prioritise: COVID-19, economic recovery, racial equity and climate change.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The meeting is taking place under the shadow of a fierce border row between India and China, both members of the influential bloc.
Beijing will be intently watching Washington's response for any hint of weakness. Xi Jinping, who feels China has a limited window of strategic opportunity, will be emboldened to take additional initiatives in the Indo-Pacific and specifically against India and Taiwan, warns Jayadeva Ranade, the former senior RA&W officer and China expert.
Why should an elected government, any party's government, need a law to protect itself from its people? asks Shekhar Gupta.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
The demand for extension of the GST cess regime among others was made by several state finance ministers at a pre-budget consultation called by Union Finance Minister Nirmala Sitharaman in New Delhi. Besides, many states also demanded raising the share of the Union government in the Centrally Sponsored Schemes (CSS). Currently, the central government and state government share in some CSS is 60:40 while in others it is 75:25.
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