Mission Shakti 'shows the development within India's military space programme, its desire to be seen as a global space power and its recognition of the potential dangers of China's counterspace programme.'
Sliding for the fifth straight session, the rupee fell 3 paise to close at a fresh lifetime low of 79.06 against the US dollar on Thursday amid a strong greenback overseas and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 78.92 against the greenback and witnessed an intra-day high of 78.90 and a low of 79.07. It finally settled at 79.06, down 3 paise over its previous close of 79.03.
Mandaviya said this is the second phase of the Emergency Response and Health System Preparedness Package as the Central government had given Rs 15,000 crore earlier for setting up Covid-dedicated hospitals and health centres across the country.
As the virus continued to spread its tentacles across India, several parts, including Kashmir valley headed towards a virtual lockdown with the administration restricting movement of people in several parts and banning all public transport in Srinagar city.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
'But India, increasingly, is not that far behind, which is a story I never expected to tell.'
'The US and India continue to use their deepening relationship to build new partnerships within and beyond the Indo-Pacific.'
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
China's presence in the international dog house is just the kind of opportunity that his opponents must be waiting for, predicts Colonel Anil A Athale (retd).
The National Judicial Commission Bill, 2022, was introduced after the majority of voice votes were in its favour.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
In the prevailing difficult circumstances, the Congress is the only party that can provide capable and decisive leadership to the country, Kharge asserted.
In several areas, the Indian government has put out a model law.
India in the past rejected similar reports.
It is difficult to recall an Indian minister in modern times pushing back at the US publicly, observes Ambassador M K Bhadrakumar.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
It is time we pre-empt Pakistan and the separatists by fast tracking normalcy, advises Colonel Anil A Athale (retd).
DRDO chief G Satheesh Reddy Reddy is the first Indian to be appointed Fellow of the Royal Institute of Navigation and of the Royal Aeronautical Society.
Despite slowing down, China and India continue to contribute more than half of the world's economic growth, a new report by an investment management and advisory services firm has claimed.
Most of the hirings are, however, in the entry or junior level.
The government on Monday published a draft data policy for public consultation, which says all data collected, generated, and stored by every government ministry and department will be open and shareable barring certain exceptions. Also, detailed datasets that have undergone value addition could be monetised by the government. The policy document, called "Draft India Data Accessibility & Use Policy 2022", prescribes that a regulatory authority called the Indian Data Council (IDC) and an agency by the name India Data Office (IDO) will oversee framing metadata standards and enforcement, respectively.
Finance Minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it. The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report. It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.
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.
As a well-wisher of the Indian Statistical System and part of the system for more than 37 years, Sunil K Sinha, former DG and CEO of NSSO, offers suggestions to improve data quality.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
The real issue in India is not between Make or Made/Create in India or basic or applied research. We need both. The solution is to create an eco-system where new ideas can flourish and convert themselves into new technologies and products, says Colonel Anil A Athale (retd).
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
The Supreme Court on Wednesday allowed banks and financial institutions to provide services related to cryptocurrencies by setting aside the RBI's 2018 circular which had prohibited them. A three-judge bench, headed by Justice R F Nariman, said the Reserve Bank of India circular is liable to be set aside on the ground of "proportionality". "Accordingly, the writ petitions are allowed and the circular dated April 6, 2018 is set aside," said the bench, also comprising justices Aniruddha Bose and V Ramasubramanian.
The country has reported the highest number of recoveries with 42,08,431 COVID-19 patients having recovered from the disease so far, pushing the national recovery rate to nearly 80 per cent, while the case fatality rate has further dropped to 1.61 per cent, the ministry said.
"India's economy is projected to sustain a 7.6 per cent growth rate in both fiscal years 2016-17 and 2017-18," says the year-end update of the flagship report Economic and Social Survey for Asia and the Pacific 2016 of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
The Padma Bhushan was conferred on 17 personalities including N Chandrasekharan, chairman of Tata Sons, Krishna and Suchita Ella of Bharat Biotech, Cyrus Poonawalla, Satya Nadella, chairman of Microsoft, Sunder Pichai, chairman of Google.
The main culprit in vitiating the inter community/caste/class relations has been the so called 'targeted' approach. This is nothing but discrimination on the basis of faith/caste/class. When an equally poor and deprived child is denied scholarship, despite equal merit, resentment begins to brew, says Colonel (retd) Anil Athale.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
From April 1 next year, over 600 state-run Madrassas will be converted into upper primary, high and higher secondary schools with no change of status, pay, allowances and service conditions of the teaching and non-teaching staff.
Dr Balasubramanium, immediate past president of the American Association of Physicians of Indian Origin, was awarded the AMA's Dr Nathan Davis International Award on March 31 for his work in India in helping to institute emergency medical services and trauma centers.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Ajit Balakrishnan on keeping an eye on democratising finance in India.
