Consumer prices were forecast to have risen 10.00 per cent annually last month, barely changed from the 10.09 per cent clocked in October.
The next round of bad news could come from Europe, where banks in a number of economies such as Italy, Portugal and Greece are sitting on mountains of bad loans.
India will need an annual investment of Rs 15 trillion in infrastructure over the next five years, says Chandrajit Banerjee, DG, CII.
FM says government policies aim to contain inflation, spur growth.
'The Budget that Mr Jaitley will present on February 29 will be crucial.'
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
The CBI, in its FIR, alleged that Mayaram, the UK-based company De La Rue International Ltd and unidentified officials of the finance ministry and RBI hatched a criminal conspiracy to extend undue favour to the firm.
'The government will carefully regulate and monitor the Digital Rupee, and because the currency is supposed to be tied to INR or supported by reserves, we should expect little fluctuation in pricing.'
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
Corporate India at present is more indebted than all state govts put together.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
After Raghuram Rajan leaves, the world for the succeeding RBI governors will be distinctly different.
Based on repeated appeals from Choksi, who is wanted in the Rs 13,000 crore bank fraud in Punjab National Bank and is holed in Antigua and Barbuda after fleeing from India in 2018, the CCF removed his name from the Red Notice list in November 2022, the CBI said in a statement.
Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its vice chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks' bad loan woes will do a good job like the UTI. Days after Finance Minister Nirmala Sitharaman announced the Union Budget for 2021-22 laying out various measures (including disinvestment proposals) to bolster the pandemic-hit economy, Kumar also emphasised that the Modi government has shown consistent commitment for the welfare of farmers and for the improvement of the agriculture sector. "Now the process has begun... We will complete preparation of the next list in the next few weeks, we have got the marching order," Kumar said about the list of public sector companies for the next round of stake sales.
The World Bank's latest review of its purchasing power parity (PPP) baseline will reignite the poverty debate.
There is no dearth of political will today to act against corruption and officers should take action against the corrupt, however powerful, without any hesitation, Prime Minister Narendra Modi said on Monday.
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
The company's India focus hasn't changed with the change in CEOs.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
Hard and unpopular decisions are needed - not just another round of financial repackaging to sort out the discom mess.
Vote bank politics cannot be above protecting the sanctity of girls and women, he said virtually launching the campaign for the 2024 Lok Sabha election at Chaibasa, about 150 km from in Chaibasa.
The specifics will also cover what's fit and proper to be a chest manager; the insurance and re-insurance aspects; and the new capital threshold, which is Rs 100 crore now.
A fierce competition among parties to offer freebies and guarantees, a scramble for tribal, OBC, women votes and a touch of Hindutva -- all have combined to make the Madhya Pradesh assembly polls a high-stakes battle with main rivals BJP and the Congress pulling out all the stops to gain power.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
The statement, issued after the 2-day meeting of the 6-member Monetary Policy Committee of the Reserve Bank of India, also said that recapitalisation of public sector banks along with resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) will create demand for fresh investments.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
If the states do not chip in with better governance procedures in the setting up of new businesses, providing electricity connections, enforcing contracts, issuing construction permits or registering property, there is little the Centre can do on its own to quickly move India up the index on ease of doing business, says A K Bhattacharya.
India has launched Operation Ajay to facilitate the return of those who wish to come back home as a series of brazen attacks on Israeli towns by Hamas militants over the weekend triggered fresh tension in the region.
Trade union leaders claimed that the strike would be even bigger than the one last year as the number of striking workers is expected to swell to 18 crore
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
You have to really bungle to produce 5.7 per cent growth under the conditions this government is currently facing, says Mihir S Sharma.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
Heavy rains continued to pound Chennai and nearby districts on Monday under the impact of a cyclonic storm, which is likely to cross the coast in Andhra Pradesh on December 5.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
'Pump prices of petrol and diesel have reached historical highs. An unwinding of taxes on petroleum products by both the Centre and the states could ease the cost-push pressures,' the Monetary Policy Committee (MPC) has said.
