Dealing with the validity of OBC quota, the bench said, "Merit cannot be reduced to narrow definitions of performance in an open competitive examination which only provides formal equality of opportunity. Competitive examinations assess basic current competency to allocate educational resources but are not reflective of excellence, capabilities and potential of an individual which are also shaped by lived experiences, subsequent training and individual character."
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
Economist Dr Subramanian Swamy, whose Janata Party merged with the Bharatiya Janata Party in August, has issued the following press statement on the Indian economy and demanded the implementation of a four-point agenda to save it.
The states recording the highest number of such deaths include Karnataka (14.3 per cent), Maharashtra (13.2 per cent), and Madhya Pradesh (11.3 per cent). Tamil Nadu (9.4 per cent) and Telangana (7.5 per cent) were the other two in the top five.
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
'The Maratha versus OBC friction will increase. A huge chunk of the Shiv Sena's social base consists of OBCs.' Dhaval Kulkarni reports.
Narendra Modi is no reformist, but here's how he could yet change the path India's economy.
The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
The apex court said the Annual Confidential Report evaluation criteria for grant of permanent commission to women officers ignored the achievement and laurels brought by them to the Indian Army.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
Attorney General K K Venugopal told a bench headed by Justice Bobde that the Constitution (103 amendment) Act, 2019 granting 10 per cent reservation to EWS is intended to uplift around 200 million people who are still below the poverty line.
The German football body will decide on the criteria for the distribution of the solidarity fund.
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
The digital transformation should not be confined to a small part of the "human race" and its greater benefits will be realised only when digital access becomes "truly inclusive", Prime Minister Narendra Modi said at the G-20 summit on Wednesday. Modi also strongly pitched for a pledge by the G-20 leaders to work for bringing digital transformation into the life of every human being in the next 10 years so that no person is deprived of the benefits of the new technologies. In a session on digital transformation, the prime minister also said that principle of "data for development" will be an integral part of the overall theme of India's upcoming G-20 Presidency.
Moody's Investors Service on Thursday said second wave of Covid infections has increased asset risks for Indian banks, but a severe deterioration is unlikely. It said that the second wave of coronavirus infections in India has exacerbated stress among individuals and small businesses that were hit the hardest by the initial outbreak. Still, a number of factors will prevent sharp increases in problem loans, and banks have sufficient buffers to absorb anticipated loan losses.
Don't exit from growth-style funds as they may benefit next from a shift in investor preference.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
The BJP is focusing on 160 seats 'we have never won, seats where we have reasonable support, and those we lost narrowly.'
Since the AICC general secretary is known to be close to Sonia Gandhi and Rahul Gandhi, there is every possibility that he could be speaking on behalf of the party leadership, reports Anita Katiyal.
Deputy Chief Minister Manish Sisodia also announced that during weekdays, government employees, barring those engaged in essential services, will be asked to work from home, while private offices will remain open with 50 percent capacity.
Finance Minister Nirmala Sitharaman will present the Union Budget for 2023-24 in Parliament on February 1. The Budget is a statement of the government's estimated receipts and expenditures for a fiscal year (April 1 to March 31). It's divided into Revenue and Capital Budget. The Revenue Budget includes the government's revenue receipts and expenditures while the Capital Budget includes its capital receipts and payments.
The Supreme Court has agreed to hear on Wednesday a plea related to the economically weaker section quota in NEET-PG admissions, after the Centre sought urgent hearing in the matter.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
The US on Thursday raised concerns over India's Personal Data Protection (PDP) Bill and draft non-personal data governance framework, claiming these could potentially threaten innovation and economic growth. In its latest 'Special 301' Report, the US Trade Representative (USTR) kept India on the priority watch list, maintaining the country remains one of the world's most challenging major economies with respect to protection and enforcement of intellectual property (IP). In December 2021, a joint parliamentary committee released a report recommending changes to the PDP Bill, 2019, that could undermine important IP protections in India.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The Centre has also listed 24 bills, including the Cantonment Bill, the Multi-State Cooperative Societies (Amendment) Bill and the Insolvency and Bankruptcy Code (Amendment) Bill.
In a letter to Speaker of the US House of Representatives Nancy Pelosi, Trump said he was determined that New Delhi had "not assured" the US that it would "provide equitable and reasonable access" to the markets of India.
Economists on Tuesday are not convinced about the latest monthly unemployment data released by the Centre for Monitoring India Economy (CMIE), particularly about the statistics of the rural areas. They asserted that it is difficult to get the real picture of unemployment from the methodology used by the CMIE to get the data. The overall unemployment rate in India has increased to 7.83 per cent in April 2022 as compared to 7.60 per cent in the previous month, CMIE said in its report.
The order that was passed less than a week ahead of the first phase of polls scheduled on October 10 throws a spanner in the election process.
The Sri Lankan government has asserted that the recently signed maritime security pacts with India will "neither result in hindrance nor threat" to the island nation's security as "misinterpreted" by several media outlets in this country.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
'This debate is going on all over the world and everybody is saying that only GDP cannot estimate the real (economic) situation of a country.'
Former Congress president Rahul Gandhi's meeting with British Labour leader Jeremy Corbyn in London triggered a row back home with the Bharatiya Janata Party asking him whether he endorsed the UK opposition leader's "anti-India" views.
'Crafting a coherent, transparent and consistent policy vis-a-vis our neighbours, leave alone the rest of the world, is unlikely to be high on the priority list of the new Indian government, which will be sworn in before June,' says Ramananda Sengupta.
'What criteria is GoI (government of India) using to judge how long the lockdown is to continue...'
While the ruling party and its ministers wanted Azad to withdraw his controversial remarks and apologise, the Congress leader denied drawing any parallel between the two.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
