The country's exports grew 5.37 per cent year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry. Trade deficit during the month narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020. Imports in January 2021 rose 2 per cent to $42 billion.
After securing Congress support for a rise in the foreign investment cap in the insurance Bill, this is another key reform Bill where the Centre has managed a broad consensus.
India's merchandise exports in February shrank for the 15th straight month on continued weak demand from Europe, the South Asian nation's biggest market.
The appointment of new expenditure secretary comes a month-and-a-half ahead of the Budget for 2020-21 to be presented on February 1.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
Minster of Petroleum and Natural Gas Murli Deora on Monday commissioned the first stretch of the Dahej - Panvel - Dabhol pipeline from Dahej to Surat.
Petrol pumps across the country will go on strike from September 20, with a petroleum traders' union warning of "no money, no purchase, no sale..." after talks with the Oil Ministry to hike the rate of commission on fuel sales fell through.
Dharmendra Pradhan, Mukhtar Abbas Naqvi, Nirmala Sitharaman and Piyush Goyal have been elevated to Cabinet ministers.
The bench said the Union Cabinet Secretary will be the convenor of the task force and may nominate an officer not below the rank of Additional Secretary to depute for him, when necessary.
After her elevation as defence minister, Sitharaman has become a member of the cabinet committee on security headed by the prime minister.
It was under his stewardship of the Union Rural Development Ministry that NREGA, the flagship rural livelihood scheme, was implemented.
Prime Minister Narendra Modi will retain DoPT, Atomic Energy as well as all important policy issues and portfolios not allocated.
The government has decided to observe January 23 as 'Parakram Diwas' to commemorate the birth anniversary of Netaji Subhas Chandra Bose, Union minister Prahlad Singh Patel said on Tuesday.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
ONGC will submit a proposal to the Union government for acquiring Hindustan Petroleum Corporation Ltd's entire 16.97% stake in Mangalore Refinery & Petrochemicals Ltd at Rs 37.75 per share even though HPCL is not keen to divest its holding.
Execs of RIL, Essar, Cairn India, Jubilant Energy, ADAG detained.
To prevent rise in air pollution levels, oil marketing companies and thermal power units were planning to procure stubble from farmers to make bioethanol and promote the central government's 'Agricultural Mechanization' for crop residue management. But both have seen minimal success.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
Petrol and diesel prices were hiked for the fourth consecutive day on Saturday by 35 paise per litre, pushing the total increase in rates on petrol to Rs 36 per litre and on diesel to Rs 26.58 since early May 2020 when taxes on the two fuels were raised to record levels. Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers. The latest increase that follows the unrelenting hike in international oil prices has pushed pump rates across the country to their highest-ever levels.
In a meeting with stakeholders last week, the authority mooted setting up a Special Purpose Vehicle along with airlines and state-owned oil marketing companies to develop common infrastructure to import ATF, among others, at Chennai and Kolkata airports. While AAI and OMCs will hold 76 per cent in the proposed SPV, the airlines will participate in the remaining 24 per cent equity.
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
The Group of Ministers on Telangana is set to discuss the draft bill for the creation of Telangana on Saturday.
The Union finance ministry is considering an increase in the central excise duty for some of the products that had benefited from the two rounds of reductions announced by the government as part of its fiscal stimulus measures last year.
The 80-odd projects completed till now are already valued at Rs 14,000 crore.
Projects worth over $20 billion, ranging from the decade-long Iran-Pakistan-India gas pipeline to various oil and gas exploration and production projects, are being re-considered, said officials in the Union Ministry of Petroleum and Natural Gas.
Congress stalwart Murli Deora passed away on Monday morning after battling a prolonged illness. He was a politician who shared rapport across the political and corporate spectrum.
The department of investment and public asset management is scouting for investment bankers and legal advisors to carry forward the transactions.
The youth have to turn into entrepreneurs if India's massive demographic dividend is to be taken advantage of: Smriti Irani.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
He is acknowledged as the person behind transforming Tata Steel into the world's 11th largest steel-maker.
The Prime Minister will formally launch the Rashtriya Kaushal Vikas Yojana and the National Skills Mission on July 15
The Union Cabinet on Wednesday night is understood to have cleared the agenda for action initiated by the Planning Commission to spur economic reforms in the current fiscal.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
Talking about the Tablighi Jamaat congregation, Agarwal said, "If the Tablighi Jamaat incident had not taken place and we compare the rate of doubling -- that is in how many days the cases have doubled, we will see that currently it is 4.1 days (including Jamaat cases) and if the incident had not taken place and additional cases had not come then the doubling rate would have been 7.4 days."
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
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