India's housing sector is witnessing probably the "biggest boom" in the last one and half decade driven by various factors such as affordability and customers aspiration to own homes, HDFC Capital Advisors Managing Director and CEO Vipul Roongta said on Tuesday. Addressing a real estate summit organised by FICCI, he noted that the residential real estate segment has revived strongly after going through a lot of pain due to new realty law RERA and demonetisation. "In the last one and half decade, I think this is probably the biggest boom I am personally seeing as an organisation on the residential segment, whether it is affordable mid-income and premium housing properties," said Roongta, who is also co-chairman, FICCI Real Estate Committee.
Delhi's Lieutenant Governor V K Saxena on Monday sent a legal notice to Aam Aadmi Party leaders, accusing them of levelling 'false and derogatory' allegations against him, days after they claimed he was involved in a Rs 1,400-crore 'scam' during his tenure as the Khadi and Village Industries Commission (KVIC) chairman.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Following a gap of several months, global brands like Walmart have started lifting orders from Tiruppur's garment makers, leading to growth in knitwear exports in January after five months. Knitwear exports from Tiruppur increased 1.5 per cent in dollar terms and 11.6 per cent in rupee terms in January. According to the Tiruppur Exporters' Association (TEA), global majors have started placing more orders from the region.
Congress leader Rahul Gandhi alleged that Modi's move was aimed at helping a few of his 'crony capitalist friends' and had 'destroyed' the Indian economy, prompting a strong response from the BJP which said the exercise was an 'attack' on corruption and black money that were rampant during the 'lost decade' of the Congress-led United Progressive Alliance government.
"If there is a valid degree of Modi, why Gujarat University is not showing it," Kejriwal asked.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
Thank God tries hard to be funny but its humour is dated and cliched, observes Namrata Thakker. Thank God Review.
The Supreme Court on Tuesday constituted another five-judge Constitution bench which will hear five crucial cases including the challenge to the central government's 2016 decision to demonetise Rs 500 and Rs 1000 currency notes.
The Congress on Friday welcomed the statements of opposition leaders condemning Rahul Gandhi's disqualification from the Lok Sabha and said it was now time for the party to take on the job of building the opposition unity in a "systematic way".
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
Vijay Shekhar Sharma, head of Paytm, says they'd achieve their 500-million user target by 2018, two years before the earlier aim.
Reserve Bank of India's former governor Raghuram Rajan on Wednesday joined Rahul Gandhi during the Congress-led Bharat Jodo Yatra in Rajasthan.
The common man in India is bogged down by corruption and there is a need to fix accountability at all levels, the Supreme Court observed on Friday as it dealt with a petition seeking debarment of those against whom charges have been framed in criminal cases from contesting elections.
Indian economy is poised to do better on the back of reforms undertaken by the government and is expected to clock a 6.5-7 per cent growth in the remaining part of the decade, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Tuesday. Addressing reporters here after the tabling of the Economic Survey in Parliament by Finance Minister Nirmala Sitharaman, Nageswaran said that by and large, inflation is likely to be "well behaved" in FY2023-24 barring headwinds. "My optimism is that in the coming decade, rest of the decade, the potential GDP growth, without taking into account export potential, because global economy is still rife with uncertainty, the growth rate would be around 6.5 to 7 per cent, rather than between 6 per cent and 6.5 per cent," he said.
Congress leader Rahul Gandhi told British parliamentarians in London on Monday that functioning microphones in the Lok Sabha are often silenced against the Opposition.
'Last Saturday, the largest number of people travelled by air on a single day!' 'There is a kind of hunger among consumers to spend as they have been confined to their homes and not spending for almost 2 years.'
'India has formed tremendous resilience and still a strong growth.'
Just two days before Congress leader Rahul Gandhi-led Bharat Jodo Yatra is scheduled to reach Jammu, two back-to-back explosions rocked a busy locality on the outskirts of the city on Saturday, leaving nine people injured, officials said.
His fresh attack came a day after he said the government is coming up with 'excuses' to stop the Kanyakumari-to-Kashmir yatra, which is currently in Haryana and will enter the national capital on Saturday.
Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.
The BJP seems wanting to return to a 'Tamil Hindutva' agenda for elections in Tamil Nadu, explains N Sathiya Moorthy.
The Congress leader asked the government to not resort to further unorthodox, short-term economic measures that can cause any more uncertainty in the economy.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
The IAF carried out 33 missions transporting 625 tonnes of treasury consignment after the demonetisation was announced, the ex-IAF chief said.
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
Extreme poverty in India declined by 12.3 percentage points between 2011 and 2019, with rural areas doing better than urban centres, according to a working paper of the World Bank. India has not released a new household consumption survey since the NSS from 2011. By extension, the country has not released any official estimates of poverty and inequality for over a decade now, added the paper co-authored by economists Sutirtha Sinha Roy and Roy van der Weide.
'India's manufacturing will take 10-15 years to catch up with China.'
'The economic impact of this lockdown is evidently huge.' 'Its impact on the livelihood of vulnerable sections of the society is immeasurably bigger,' observes Mahesh Vyas.
'...for at least 6 months and give them peace of mind to get back on their feet.' 'Entrepreneurs are suffocating and not able to run their companies peacefully.'
'The government is scared of this Congress yatra, that is why various orders and letters are being issued'
It is not unlikely that ahead of the Lok Sabha elections, the BJP government comes up with more imaginative schemes aimed at constituency-building. The party under Modi's leadership has a more modern thinking in such matters unlike its rivals, which are still steeped only in ideology, points out N Sathiya Moorthy.
The JD-U also accused the ruling BJP of having "authoritarian" tendencies and destabilising non-BJP governments in several states, including Delhi and Jharkhand besides Madhya Pradesh and Maharashtra earlier.
Addressing party MPs at the general body meeting of the Congress Parliamentary Party in the central hall of Parliament, she said when facing a significant national challenge, it has been the tradition in our country to bring Parliament into confidence.
Bharatiya Janata Party MLAs will continue their overnight protest at the Delhi assembly for the second consecutive day on Tuesday to demand the sacking of Aam Aadmi Party ministers over alleged corruption charges.
Unemployment was worse only in the pre-demonetisation period, according to the data, at 9.6 per cent in August 2016.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
Calling India one of the most attractive investment destinations globally, vice president of European Commission Jyrki Katainen also complimented the government for its resolve to roll out the GST.
'Visibly there is a posturing that everything is fine. That creates a bit of a problem.'
Superintendent of Police Neeraj Kumar Jadaun confirmed the incident on Wednesday and said the condition of Rajiv Tomar (40), who ran a shoe-shop, is serious.
