Power and money are at the heart of the sordid story -- and it isn't over yet.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
India needs to spread irrigation and do so against a backdrop of rising water scarcity and depleting groundwater resources
The Bharatiya Janata Party's unit in Madhya Pradesh on Saturday announced a slew of measures for the poor and the youth as it unveiled its manifesto for the November 25 assembly elections.
Virtually addressing party workers and voters of 11 assembly constituencies that will go to vote in the first phase on October 28, Kumar highlighted the achievements of his governments during his three terms as CM since 2005, and compared those with the work done during the 15-year rule before that.
In spite of Budget's rural focus, the government has consistently stumbled in agriculture, says Shreekant Sambrani.
Agriculture implements that are currently taxed up to 18 per cent may come under the 12 per cent or the 5 per cent bracket.
Is the Budget sufficiently prudent? It probably is but at the cost of substantial under-provisioning for the many grand sounding schemes announced in it, says Nitin Desai.
'Most of the agitations are staged by the Opposition to disturb the peace of the state.'
Once the Covid crisis subsides in the state, the NEET exam this year, whether conducted or cancelled, could become an electoral issue next year, along with the BC-MBC reservations issue, especially the 'creamy layer' aspect, says N Sathiya Moorthy.
Prime Minister Modi will hold bilateral meetings with President Paul Kagame, delegation-level talks and meetings with the business and the Indian communities, a statement from the Prime Minister's Office said.
The PM said that the Union Budget will accelerate the economic growth, financially empower every citizen and strengthen the foundation of the economy in the new decade.
Making the announcement, Chief Minister Devendra Fadnavis said this was the "biggest" loan waiver scheme in the country.
The IIM-B's 'Karnataka innovation report' has become the basis for the Congress party's election narrative, particularly to distinguish it from the 'Gujarat model of development', reports Archis Mohan.
A clear message was that the ongoing seven-decade-old model of agriculture, based on extensive reliance on subsidy by the government at every stage, was not going to work, said NITI Aayog vice-chairman Rajiv Kumar.
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
Apart from outlining its future plans for the development of Bihar, Chief Minister Nitish Kumar led party also referred to poll promises made by the rival Grand Alliance, including approving 10 lakh jobs, and sought to know from where would they manage Rs 5 lakh crore additional money that will be required for fulfilling their 'lofty' announcements.
Governments must encourage micro-irrigation, use of natural manure and pesticides in a big way. Farm income can be doubled by reducing cost as much as by increasing MSP, says Sanjeev Nayyar.
Agriculture, social services, education, defence and so on will be brought into the digital fold and every gram panchayat will be connected to the internet.
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
Congress leader Rahul Gandhi on Friday assured that the Citizenship Amendment Act (CAA) will not be implemented in Assam if the party is voted to power in the state in the coming assembly poll.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
Farmers have been availing crop loans upto Rs 300,000 at 7%.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
'There is no animosity among us. We are one family.'
The demand for milk and milk products slumped during the Covid-19 lockdown mainly from hotels, restaurants, sweetmeat shops which were shut to control the spread of the disease.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
The GoM will suggest various development, economic and social steps to be taken for the two UTs which will come into existence on October 31, sources said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
There are a number of problems that plague the implementation of MGNREGA, including corruption, administrative paralysis and other hardy perennials. Massive amounts of funds on this scheme remained unspent in 2010-11 and 2011-12.
Major focus will be on adequately funding existing schemes to ensure their timely completion before the next General Elections.
Prime Minister Narendra Modi on Wednesday called for focus on 'repair and prepare' as the nation emerges out of a devastating pandemic. "Over the past year, we have witnessed a lot of disruption in different sectors. Much of it is still there. Yet, disruption does not have to mean despair," he said at VivaTech Summit. "Instead, we must keep the focus on the twin foundations of repair and prepare," he said referring to the need to augment healthcare infrastructure in the country as well as prop up the economy.
'I want to ask Modiji is the support price announced by him good enough to make a farmer's sons to start farming in their villages?' 'Can he swear by Bharat Mata and say that is true?'
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
Post-mortems of 16 more suspected hooch victims were conducted here in the last two days, raising their number to 87, but authorities on Wednesday kept the official death toll in tragedy pegged at 35.
India's water future remains very bleak. The monsoon season, which once extended to 4 months, is now down to less than 30 days of heavy rain.
It will be interesting to see whether India-China border tensions figure during the deliberations of PLA deputies to the NPC and CPPCC, notes Jayadeva Ranade, the distinguished China expert and retired RA&W officer.
Setting the tone for annual Budget-making exercise, agriculture economists on Friday demanded revamping of the farm credit system even as they voiced opposition to any fresh development scheme for the sector.
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