In view of a surge in COVID-19 cases, the Chhattisgarh government on Thursday cancelled tenders for the construction of the new assembly building and also stopped work on major projects in the state.
Expectations that various sectors and the common man is eyeing in this budget.
India's economy, estimated to contract by 6.9 per cent in 2020 due to the coronavirus pandemic, is forecast to record a "stronger recovery" in 2021 and grow by 5 per cent, according to a UN report which said the country's current fiscal year budget points to a shift towards demand-side stimulus, with an uptick in public investment. The report, 'Out of the frying pan ...Into the fire?' published Thursday as an update to the Trade and Development Report 2020 by UN Conference on Trade and Development (UNCTAD) said the global economy is set to grow by 4.7 per cent this year, faster than the 4.3 per cent predicted in September 2020, thanks in part to a stronger recovery in the US, where progress in distributing vaccines and a fresh fiscal stimulus of $1.9 trillion are expected to boost consumer spending.
It was one of the toughest times in history to announce a budget, says Harsh Goenka, chairman of RPG Enterprises.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
The group, which employs nearly 26,000 employees, plans to cut employee costs by one per cent, or Rs 65 crore (Rs 650 million), in the current year by redeploying people in its various businesses and reducing new hirings. "Instead of external hiring, we have redeployed a part of our people resources from our mature businesses to the new ventures," Future Group CEO Kishore Biyani said.
After a lifetime of showing us what it means to 'act at the top of one's bent and never hit a false note', Mammootty had the good sense, in the third act of his career, to pare down his style, become less mannered, draw directly from life. And getting a performer like that to play characters who seem 'completely dead inside', is, in my view, a betrayal of his legacy, his still-burning ambition, and his still-sharp feelers, observes Sreehari Nair.
The cricketer-turned-politician has opted against a fancy ceremony and will take his oath in a simple ceremony at Aiwan-e-Sadr (President House).
Kovind has also decided to defer purchase of the Presidential Limousine which was to be used for ceremonial occasions. 'The existing resources of the Rashtrapati Bhavan and the government will be shared and used for such occasions,' a communique said.
NZC chief executive David White had said it is looking to shed around 10 to 15 percent of its staff and save NZD 6 million in operation costs as it copes with the 'challenges' posed by the health crisis.
Some movies of 2021 excelled in content but yet, they did not do well.
Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit in view of the tight economic situation.
The interior ministry has directed the Federal Investigation Agency that no government official or other VIPs would be given protocol at airports.
Functioning in several departments related to revenue collection has also been affected. Revenue collection has reduced by Rs 17,000 crore in March.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
Will Greece manage to pay euro 1.5 billion to IMF?
Divestment-bound Air India's pilot unions have rejected the paltry five per cent rollback in their salary cuts and warned of "industrial action" if there is no "substantial" reversal in their paycuts. In a joint letter to Air India chairman and managing director Rajiv Bansal on Thursday, the Indian Pilots' Guild (IPG) and the Indian Commercial Pilots Association (ICPA) said, "(The) pittance in the form of a five per cent decrease in the current wage cut is an outright insult, its sting magnified in light of our unwavering support and trust in this company." They said this "generosity" amounts to a reduction of about 3 per cent in the current gross pay cut for pilots. In April, Air India had reduced its pilots' salary by up to 70 per cent to partially offset the impact of the coronavirus pandemic on its finances.
Gentle, fiery, magnanimous or disadvantaged, there are many faces of the Bhansali heroine. Sukanya Verma looks at every single one.
Euro zone leaders will hold an emergency summit on Monday.
Every cloud has a silver lining. The recent global economic slowdown too has reinforced the virtues of austerity. But you don't have to wait for that big stock market crash or the next big bank to go kaput to strengthen your financial immunity. Here are some tips to help you ensure your finances stay strong come hail or high waters...
'She had indeed grown to full womanhood and was in reality more beautiful than I thought she was.'
Prime Minister Manmohan Singh sought to downplay the comments of Minister of State for External Affairs Shashi Tharoor on austerity on Twitter saying "it was a joke".
In the backdrop of the drought situation across India, the Congress and the United Progressive Alliance government on Wednesday planned to go on an austerity mode, with party chief Sonia Gandhi asking her Members of Parliament and Members of Legislative Assembly to accept a 20 per cent cut in salaries for a year. During the meeting of the Congress Working Committee, Sonia Gandhi asked partymen and the government to observe austerity measures.
The issue regarding remuneration of company CEOs will be debated by the parliamentary standing committee.
But for the PM's decision, my teenage daughter, a child of the post-economic reforms generation, could never have imagined the Socialist India that remains so much a part of my growing up years, says Syed Firdaus Ashraf.
Air India's top brass will now travel like kings with the austerity drive having been given a quiet burial. The airline issued an order on November 27 saying that the airline's chairman and managing director Arvind Jadhav and his spouse can travel first class on its flights, whether on work or on vacation. Not only that, parents and children of the serving chief executive can travel business class during vacation on Air India flights.
In India, as elsewhere, veganism has spawned an industry of plant-based products such as tofu, tempeh, peanut curd, cashew cheese, almond butter, flax eggs, sauerkraut, seitan, mock meats, apple honey, vegan chocolates, nutritional yeast and plant-based milks. There are vegan cafs and restaurants such as About Vegan (Jaipur), Bodhi Greens (Dharamsala), Carrots (Bengaluru), Earthlings (Mumbai) and Elysian Delights (Gurugram), vegan cooking classes, vegan tours, vegan conferences and vegan e-tailers such as vegandukan.com and veganmall.in. "Plant-based milks such as soy milk, almond milk and oat milk have made promising inroads with Indian consumers. "Estimated at $21 million vs the animal-derived dairy industry at $140 billion, plant-based dairy in India is projected to grow at a CAGR of 20.7 per cent to reach $63.9 million by 2024," write Dhruvi Narsaria and Rajyalakshmi in their 2020 report, "Insights on plant-based milk category in India", published by the Good Food Institute India and Ipsos India.
Dr Bharat Shah, 64 from Harrow, London writes about the greatest lesson he learned from his late father Manubhai Shah.
The gift was given to 40 Karnataka MPs ahead of a meeting of them convened by Kumaraswamy in New Delhi to discuss state-related issues, including the Cauvery, to be taken up in the Parliament during the monsoon session beginning on Wednesday.
Reddy -- an Indian-American from Telangana who wrote the speech that outlined Biden's goals for his administration, focusing on healing from the current state of division in national politics -- has been praised for his "calming" and "inspiring" words.
Subhash K Jha applauds the Oscars for Anthony Hopkins and Frances McDormand.
Railway traffic has dropped 32 per cent to 99.86 mt between April 1 and May 14, compared to the same time last year, while its revenue, too, dipped 41 per cent to Rs 9,094.38 crore.
Formula One has said it hopes to get the season started some time in the European summer with a reduced calendar of 15-18 races.
The fascination for the skies and what lies beyond has fathered an expansive stockpile of astronomical myths and legends and in India, also an elaborate astrological system, notes Arundhuti Dasgupta.
Modi might be tempted to hit the brakes on spending. But an austerity drive could be self-defeating in a weak economy.
A five judge Constitution bench headed by Chief Justice Dipak Misra was apparently not in agreement with the argument of the Travancore Devaswom Board running the over 800-year-old Lord Ayyappa temple that the "practice and belief" that have continued uninterrupted cannot be tested on the ground of "modern ethos".
Austerity measures announced by the government to rein in the fiscal deficit will not apply on air travel by ministers and senior officers going abroad on official visit.
Tenet is both incredibly obfuscating and feverishly magnificent, says Sukanya Verma.
Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
Days after criticising the treasure hunt in Uttar Pradesh, Gujarat Chief Minister Narendra Modi on Monday took a U-turn and praised seer Shobhan Sarkar based on whose dream the Archaeological Survey of India is carrying out excavation in Unnao district.
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