The Reserve Bank of India's decision to allow airlines hedge jet fuel in global markets came in for praise from the industry and the civil aviation ministry, but end-users are unlikely to benefit in the form of lower airfares.
"The effort was rewarded with the discovery of a large number of sites, which have indicated their potential for hosting uranium reserves," it said, quoting a latest official document.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
'I had the opportunity to portray a wildlife crime fighter on screen, which allowed me to express my concern for society, wildlife, and the environment. I strongly believe that humans share this planet with countless other species and hold immense respect for every living creature.'
Inflation in food articles was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
A pregnant Sri Lankan woman, who had been in a queue for two days to obtain a passport to leave the crisis-hit country for employment overseas, went into labour while waiting for her turn on Thursday and delivered a baby girl.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
The RBI on Friday said maiden Sovereign Green Bonds (SGrBs) would be issued in two tranches for an aggregate amount of Rs 16,000 crore, and proceeds will be utilised for funding public sector projects seeking to reduce carbon emissions. The first auction would be done on January 25 while the second on February 9, the Reserve Bank of India (RBI) said in a statement. The proceeds will be deployed in public sector projects, which help in reducing the carbon intensity of the economy, it said.
The wholesale price-based inflation declined to a 21-month low of 5.85 per cent in November on easing prices of food, fuel and manufactured items. After remaining in double digits for 19 months, the wholesale price index (WPI) based inflation declined to 8.39 per cent in October. The inflation was 14.87 per cent in November 2021. "Decline in the rate of inflation in November 2022, is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year," the commerce and industry ministry said on Wednesday.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
S&P Global Ratings on Monday retained India's GDP growth forecast at 6 per cent saying it will be the fastest growing economy among Asia Pacific nations. The GDP growth forecast for the current and the next fiscal has been kept unchanged from the forecast made in March partly on account of domestic resilience. "We see the fastest growth at about 6 per cent in India, Vietnam, and the Philippines, S&P Global Ratings said in its quarterly economic update for Asia-Pacific.
The war between Russia and Ukraine appears to be entering a new phase after Kyiv dealt a big blow to Moscow's grip on parts of the east with a fast-moving offensive that saw Ukrainian troops enter the strategic city of Izium after six months of occupation.
The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.
Retail inflation declined to a 25-month low of 4.25 per cent in May mainly on account of softening prices of food and fuel items, with experts saying that RBI is expected to hold interest rates steady in the current fiscal. This is the fourth straight month when retail inflation has declined and the third straight month of Consumer Price Index (CPI) based inflation remaining within the RBI's comfort zone of below 6 per cent. CPI-based inflation stood at 4.7 per cent in April and 7.04 per cent in May 2022.
Sharif, the three-time former premier, said that there is a need for all the political parties to sit together and form a government to pull Pakistan out of its difficulties.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Less-than-expected rainfall and a poor spatial distribution, experts say, can rekindle fears of a rise in food and fuel inflation that can have an impact on the RBI's monetary policy. The fear of less than optimal rainfall due to El Nino this year, analysts believe, is the biggest short-term risk for the markets, which they said has not been fully priced in yet by them. Monsoon set over Kerala on June 08, a week later than its scheduled date.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said there is a need for coordinated action between the centre and state governments to reduce taxes on petrol and diesel prices. "There is a need for coordinated action between the centre and states because there are inherent taxes levied by both," the Governor said adding that calibrated reduction of taxes was important. He was speaking at an event organised by Bombay Chamber of Commerce.
Between March 2022 and September 2023, HDFC Bank added 56,310 employees.
In her address to a joint sitting of Parliament, Patil said coal is the main source of energy in India and the government has allocated 158 blocks with reserves of almost 40 billion tonnes to public and private sector companies in power, cement and sponge iron for captive use. Coal-abundant India has been pushing for the $6-8 billion coal-to-liquid project to cut its dependence on imported oil.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
India annually spends Rs 4.5 lakh crore on importing petroleum products, and Transport Minister Nitin Gadkari feels methane is a cost-effective import substitution. But is it? Pallava Bagla examines the pros and cons.
While the economy seems to be on a firm growth path, the fight against inflation is not over yet. Shaktikanta Das seems to be in no hurry. After playing well through a five-year Test match, he doesn't want to get out hit wicket, observes Tamal Bandyopadhyay.
State governments have raised serious reservations against a plea by the aviation ministry and domestic carriers to reduce sales tax on aviation turbine fuel. Worse still, states like Kerala which had reduced the tax rate from 28.5 per cent to 4 per cent to encourage carriers to buy from the state have decided to take back the benefit alleging that it is not being passed on to the customers as promised.
Venezuelan Prez Hugo Chavez promised to give India more oilfields in its heavy-oil belt, as he seeks to tap the world's second fastest growing economy to diversify energy trade beyond US. He intends to supply 1 mn barrels per day of oil to India in the near future. The Junin area is believed to hold some 500 bn barrels of in place oil reserves, of which Junin Norte may have about 7-8 bn barrels. OVL is expected to be given preference in the development and production phase.
As fossil fuel reserves are fast depleting, nuclear power is becoming the inevitable option for the industrial sector to support the growing Indian economy
The wholesale price-based inflation declined to a 19-month low of 8.39 per cent in October, on easing prices of fuel and manufactured items. This is the first time in 19 months that WPI inflation print has come in single digit. Last was in March 2021 at 7.89 per cent. Since April 2021, WPI inflation remained in double digits for 18 months with September print at 10.79 per cent.
Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday. The inflation rate based on the Consumer Price Index (CPI) stood at 5.72 per cent December and 6.01 per cent in January 2022.
Novak Djokovic is arguably the best returner the game has ever seen, is the best athlete and has an engaging personality, there is only so much love to go around.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
Jailed ex-Pakistan premier Imran Khan's party-backed independent candidates on Friday sprang a surprise by winning 86 seats out of the 201 results declared following unusual delays and allegations of rigging, as the country appeared heading towards a hung assembly.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
