Pakistan Prime Minister Imran Khan announced on Monday that his government will allow India to send a humanitarian shipment of 50,000 metric tonnes of wheat to neighbouring Afghanistan through its territory after finalisation of the transit modalities.
In terms of stock selection, India continues to benefit from two phenomena - the big getting bigger and availability of quality stocks in relative abundance compared with its Asian peers.
Unless supported by investment, any spark of a recovery could be temporary, hint economists.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
Even if Narendra Modi comes to power, the revival of sustainable growth is far from certain.
The move came as the country badly needs capital inflows as the rupee comes under pressure
As the FM said, this is a Budget that lays the foundation for the next 25 years, observes Kumar Mangalam Birla.
The Congress's revival plan says it needs to bring back into its fold Hindus repelled by the Sangh Parivar, take its message to youth and women and sections upset at curbs on their personal freedoms.
Amid uncertainties arising out of the second wave of COVID-19, the Reserve Bank on Thursday said that a durable revival of private consumption and investment would be critical for sustaining economic growth post-pandemic. Observing that 2020-21 has left a scar on the economy, RBI in its annual report said, "in the midst of the second wave as 2021-22 commences, pervasive despair is being lifted by cautious optimism built up by vaccination drives." The second wave of the pandemic has prompted revision of growth projections for the current fiscal and the consensus appears to be gravitating towards RBI's forecast of 10.5 per cent, the report added.
Congress leader and ex-finance minister P Chidambaram on Tuesday said the Union Budget was the "most capitalist" with nothing for the poor and farmers while sops were being provided to big industrialists turning India into a very "unequal country". At a press conference after Union Finance Minister Nirmala Sitharaman unveiled a Rs 39.45 lakh crore Budget, he said because of the ruling party's "brute majority" the Lok Sabha pass the Budget but people will reject it. He claimed the Bharatiya Janata Party was going to elections, scheduled in five states, not with their performance or with the promises and assurances to the people, but solely "with the agenda of dividing the country and bringing Hindutva back to power".
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
A flop Bharat Jodo Yatra could unleash more resignations from a party which under its current leadership is dying a slow death, warns Virendra Kapoor.
'The recent correction in indices has made the markets cheaper to invest for the long term.'
Asian Paints was the top gainer in the Sensex pack, rising around 3 per cent, followed by Kotak Bank, Axis Bank, HDFC Bank, Infosys, Reliance Industries and ITC. Broader NSE Nifty rallied 136.15 points or 1.02 per cent to its new record high of 13,529.10.
"It's a welcome development, but we also feel it was long overdue... It's a recognition of the actions that the government has undertaken like GST, bankruptcy. We also need to keep all these things in perspective," Chief Economic Adviser Arvind Subramanian said.
The government may drop its plan to decriminalise cheque bounce offences after there were requests to continue the existing system, which can potentially make people honour their financial commitments due to fear of prosecution. It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call. Last year the Department of Financial Services (DFS) had proposed decriminalising minor offences, which included cheque bouncing, for improving business sentiment and unclogging court processes.
PMC Bank depositors have spent the last one year holding protests, meeting politicians, writing to various authorities in an effort to get their hard-earned money back.
External Affairs Minister Jaishankar on Wednesday described the second wave of the Covid-19 pandemic as an "all consuming" challenge posed by a virulent strain of coronavirus and welcomed the enormous goodwill from countries around the world as a sense of solidarity in diplomacy.
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
It is for the investigating agencies to probe all aspects of the assassination, including a possible Chinese hand, or if the killer was just a disgruntled element who acted on his own and wanted to earn some dark space in history like Nathuram Godse or Lee Harvey Oswald, notes Japan expert Rajaram Panda.
'If some measures are implemented quickly, they can help revive growth.'
The immediate need is to put more money in the hands of agriculture-based and rural households to improve their purchasing power, says S Mahendra Dev.
The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
The country has been clocking a sub-5 per cent growth for the past two financial years, mainly on account of slowdown in investments.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The country may become militarily impressive, pile on GDP and the durbar of the ruling party may fill with the wealthy indebted to the rulers for their riches. But the spontaneous camaraderie of a free people will diminish and with it, our shared ownership of the country, warns Shyam G Menon.
'There is a need for the Congress to introspect.' 'Introspection means to find out where we have gone wrong in the last eight-ten years, how we have gone wrong, where we have failed to succeed.'
'Any future course of action towards active participation in the alliance when formed would need a lot of deliberation, long term vision and should be in our best national interests,' notes Commodore Vengalil Venugopal (retd).
NCAER said the monetary policy measures are unlikely to revive growth at this juncture and suggested providing fiscal stimulus, which too can be challenging unless it can be financed through better revenue generation.
Hard and unpopular decisions are needed - not just another round of financial repackaging to sort out the discom mess.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
Imports too tumbled by 58.65 per cent to $17.12 billion in April from $41.4 billion in the same month last year, according to the data by the commerce and industry ministry.
India's latest GDP numbers do not signal robust economic growth in near term.
While Maharashtra and Gujarat continue to top the nationwide tally, Tamil Nadu has now crossed the 5,000 mark. The death toll of the southern state has reached 37, with two more women succumbing to COVID-19 during the day.
India has the ability in all respects to be a great power and address our security challenges in the best national interests, says Commodore Venugopal Menon (retd).
Slamming the Union budget as 'insipid' and lacking in stimulus for growth, the Congress on Saturday said it does not address the main issue of unemployment and describes the mindset of the government.
We should not see a strong rupee as strength but target a fairly priced rupee for restoring our competitiveness, says Rashesh Shah.
The government is looking at a new timeline for Air India disinvestment and financial bids will be invited in the coming days, Union minister Hardeep Singh Puri said on Friday. Noting that there is no choice but to either "privatise or close" Air India, he said the government will have to keep the airline running till it gets divested. "We are looking at another timeline now, what is called data room for prospective bidders to look at... that is opened up, 64 days for the financial bids to come in. "After that it is the question of taking a decision and handing over the airline," the Minister of State for Civil Aviation said.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
From Sri Lanka's most popular political family to its most despised -- going by the voices on the streets calling for the Rajapaksas' ouster -- what went wrong for the clan? Veteran Sri Lanka watcher N Sathiya Moorthy offers an insight.
