The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
The slot constraint in Indian airports is also going to play a role in pushing airlines to have wide bodies.
'If deaths had been properly reported, it would have helped contain the pandemic.'
The Organization of Petroleum Exporting Countries (OPEC) in its latest monthly oil market report projected the world's third-biggest energy consumer to add 0.39 million barrels per day (bpd) of crude oil demand in 2022. India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth.
About 3.2 million people could have died from Covid in India by September last year, six-seven times higher than reported officially, according to a study based on one independent and two government data sources.
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the finance minister said, "No Sir". Many economists and experts have suggested to the government to print more currency notes to tide over the difficult economic situation with a view to support the economy ravaged by the spread of COVID-19, and protect jobs.
India on Monday set aside over Rs 7,100 crore in its budget for 2021-22 as development assistance for countries in its neighbourhood as well as in Africa and Latin America, with Bhutan getting the maximum allocation of Rs 3,004 crore while Rs 100 crore will be given to Chabahar port project in Iran.
Fitch Ratings on Wednesday cut India's growth forecast to 10 per cent for the current fiscal, from 12.8 per cent estimated earlier, due to slowing recovery post second wave of COVID-19, and said rapid vaccination could support a sustainable revival in business and consumer confidence. In a report, the global rating agency said the challenges for banking sector posed by the coronavirus pandemic have increased due to a virulent second wave in the first quarter of the financial year ending March 2022 (FY22). "Fitch Ratings revised down India's real GDP for FY22 by 280bp to 10 per cent, underlining our belief that renewed restrictions have slowed recovery efforts and left banks with a moderately worse outlook for business and revenue generation in FY22," it said. Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
'I see a virtually zero impact on the sales of new vehicles with this move,' said an expert
Only the government has the capacity to collate all death data across all facilities and count corpses dumped in rivers. And the government is patently not interested in finding out, observes Devangshu Datta.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
As per official estimates, India's population currently is 1.3 billion people. Facebook pages on Thursday reflected that Modi is followed by 44 million people, while the account of Trump by 27 million. The US population is estimated to be 325 million.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
Cadila, Biocon developing rapid antibody testing kits; Eris, Mylan, Gland importing. There are two kinds of testing for the novel coronavirus - the real-time polymerase chain reaction test kit that uses throat or nasal swabs and provides results in a few hours, and the other is antibody-based rapid testing kit that use blood samples and provides results in a few minutes.
With schools closing down, many girls and their female family members in rural and urban areas now don't have access to sanitary pads.
Exports of 13 APIs - including paracetamol, tinidazole, metronidazole, vitamin B1, vitamin B6, vitamin B12, acyclovir, progesterone - along with formulations made from these APIs, would be restricted.
A report published in British journal The Lancet reckons India's working population will surpass China's in the mid-2020s.
'I'm not in favour of the boycott. In sports, you never use the word boycott. My fundamental principle is either we withdraw permanently or go and compete'
Majority of PLL's long-term deals are linked to crude, which faces price challenge from other fuels. Spot LNG is moving away from this linkage, which puts a question mark on crude linked contracts.
The fuel delivery scheme mainly targets consumers that buy in bulk.
An estimated 3,92,078 babies were born around the world on New Year's Day, according to UNICEF. Of this, an estimated 67,385 babies were born in India, the most globally. China came in second with 46,299 births.
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery. In its update on Global Macro Outlook, Moody's Investors Service said India's economy has decelerated rapidly over the last 2 years and economic recovery is likely to be 'shallow'.
'It is a package for a new self-reliant India.'
They are now scaling or shutting down their businesses because they can't compete with untaxed grey market gold. India's gold smuggling has increased significantly since the import duty was increased in the Union Budget 2019 in contravention with the broader market expectations of a cut.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
The crop is currently trading at Rs 22 a kg compared to Rs 12.50 one month ago.
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
Rediff.com's data journalists have broken down the National Sample Survey Office 68 round (July 2011- June 2012) report data into a state-wise listing.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
In the retail markets, fresh onion is sold between Rs 10 and Rs 12 a kg. Now, farmers have to sell onion at a loss of Rs 2-3 per kg if transport cost is included.
Nothing is going to dramatically open up on May 3. There will be too many ifs and buts and terms and conditions and guidelines in leading one's life in various zones, reveals Sheela Bhatt.
Buffalo meat exporters faced supply problems due to the Centre's ban on animal sales
Prices of the iPhone 4 start at about Rs 29,000, while the iPhone 3GS costs about Rs 16,000.
Earlier expectations of gold imports touching 1,000 tonnes in 2011 have been belied, with a steep fall in imports in recent months.
Demand bounces back but uncertainty over GST rate for jewellery casts a shadow over future.
Greater autonomy, freedom to recruit faculty and government funding are just some of the perks these institutes will enjoy.
It expects the Indian market to grow to 10 million units annually by 2030 and it intends to control half the market then, like it does now.
In-car connectivity demands and technology for interaction open various possibilities.
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