Domestic commercial-vehicle (CV) sales volume will witness significant growth over the next few years and the overall CV volume is likely to reach close to 1-million units by FY24, a report said on Wednesday. The report by credit ratings agency Fitch Ratings also expects growing demand and the resultant rise in operating leverage to boost the profitability of the domestic CV-focused original equipment manufacturers after FY22, despite elevated production costs. A recovery in medium and heavy CVs from multi-year lows, along with sustained growth in light CV categories, will help overall CV volume to reach close to 1-million units by FY24 - the level of the last cyclical peak recorded in FY19, it said.
India will kickstart on Tuesday a two-day multi-agency military exercise covering the country's 7,516 km-long coastline and exclusive economic zone with the twin aim of checking the preparedness of various agencies to deal with any eventualities and bolster overall maritime security, officials said.
The Congress will conduct a caste census in Madhya Pradesh after winning the assembly polls and establish a university in the name of Sant Ravidas, said party president Mallikarjun Kharge, accusing the regime at the Centre of wishing to change the Constitution.
'Israel should stop water supply to the people who want to destroy us.' 'It is not Israel's responsibility to take care of the people who want to kill Israelis.'
The two Jaish-e-Mohammed militants, arrested in Delhi two days ago, were planning to carry out attacks in Delhi with the help of their associates and had procured 2 kg of RDX from Deoband in Uttar Pradesh, police said on Wednesday.
As temperatures soar across the country, amid searing heat wave, analysts see power demand hitting fresh record highs this year. The time, therefore, may be opportune to add related stocks on dips as higher demand boosts earnings visibility, they said. On April 18, India's electricity demand touched a new high of 216 gigawatts.
Asking Solicitor General Tushar Mehta, appearing for the state government, to file an updated status report, the bench said, "It should have details like rehabilitation camps, law and order and recovery of arms."
Prime Minister Narendra Modi and Rajasthan Chief Minister Ashok Gehlot on Thursday exchanged jibes over the red diary that a sacked state minister claims records financial misdeeds of the CM and his colleagues.
Ruling Peoples Democratic Party spokesman Waheedur Rehman Parra criticised Abdullah for seeking LPG subsidy despite his "huge assets".
Hours before a planned mass burial of Kuki-Zomi people killed in Manipur's ethnic violence, the state's high court on Thursday ordered that status quo be maintained at the proposed burial site in Churachandpur district, while ITLF, an apex tribal body also said it was postponing burial service plans following requests from the Union home minister.
Crew from a United States segment of the International Space Station was recently moved after gas leak alarm went off. Though the members were evacuated post the ammonia leak scare, it turned out to be a false alarm due to some computer problem according to Nasa officials, the BBC reported.
By driving a hard bargain with Russia in procuring crude oil at the lowest price possible, India is furthering the policy of G7 and Washington is "comfortable" with New Delhi over its approach in addressing issues relating to energy security, a top Biden administration official said.
The police on Thursday arrested one more person in connection with the car explosion case in Coimbatore, taking the total number to six.
Super cyclone Mocha made landfall along the Myanmar-Bangladesh coasts on Sunday after intensifying into the equivalent of a category-five storm, a senior Met official said.
In our mystery the watchdog agencies are silent, but it is the market that has barked and has not stopped barking. Till such time as it continues to do so, this headache will not go away, notes Aakar Patel.
Indian officials will focus on expanding the country's footprint in oil-rich Siberia when they meet their Russian counterparts at the four-day 7th Eastern Economic Forum beginning Monday in Vladivostok. The two sides will discuss the possibility of joint oil exploration in the area and cooperation in running offshore oil and gas fields Western companies are in the process of exiting, officials said in New Delhi. Pavan Kapoor, India's ambassador to Russia, will lead the official-level talks at the summit scheduled September 5-8.
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
A man, one of the six accused in the explosion case in Coimbatore, confessed during interrogation that he met two men in a Kerala prison who had links with an ISIS group involved in the Easter bombings in Sri Lanka, police sources said on Friday.
The ruble has recouped most of its losses and become the top-performing currency globally. It continues to gain and is up 60 per cent against the US dollar from its lows in the first week of March. The ruble appreciated to 83 to the dollar intraday on Tuesday against a record low of 139 on March 7.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
Changes in global oil and gas rates matter more to India's economy than other major economies because the country imports around 87 per cent of its oil, half of its gas in the form of LNG, and over 60 per cent of its LPG.
'For the government, statehood is one of the end-points of the journey. A vast distance has to be traversed to reach there. There are many turns on the road, some resting points, and possibly, many cul-de-sacs.'
India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.
Scores of PTI workers and policemen suffered injuries in the violent clashes. So far, no casualty has been reported.
Union finance secretary T V Somanathan recently said the Centre had saved Rs 10,000 crore in FY22 on interest payments after adopting new accounting mechanisms for central government agencies and centrally sponsored schemes (CSS) for state governments. Speaking at an event, Somanathan said due to these, there was an unspent balance of Rs 1.2 trillion with state agencies from CSS as on March 31, 2022. This means this amount will be reduced from the Centre's borrowing for now and it can be considered a short-term saving for the exchequer.
Fitch Ratings on Thursday slashed India's GDP growth projection for FY23 to 7 per cent, saying the economy is expected to slow against the backdrop of global economy, elevated inflation and high interest rate. In June, it had forecast 7.8 per cent growth for India. "We expect the economy to slow given the global economic backdrop, elevated inflation and tighter monetary policy. "We now expect the economy to grow 7 per cent in the financial year to end-March 2023 (FY23) from 7.8 per cent previously, with FY24 also slowing to 6.7 per cent from 7.4 per cent before," Fitch said in its September edition of the Global Economic Outlook.
The probe into the November 19 explosion in Karnataka's coastal city of Mangaluru is expanding across two more southern states, as the "global terrorist organisation-inspired" key suspect behind the blast is said to have visited Tamil Nadu and Kerala and police teams are looking into possible local accomplices and links to the Thirthalli native.
In unprecedented scenes, supporters of former prime minister Imran Khan on Tuesday stormed the Pakistan Army headquarters in the garrison city of Rawalpindi and the Corps Commander's residence in Lahore after his dramatic arrest in a corruption case.
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
State-owned CIL on Thursday said that it has floated its maiden tender to import 2.416 million tonnes of coal to ensure adequate supply of the fuel to power plants in the country. The development assumes significance in the wake of the government making all efforts to build up stock of coal to avoid the reoccurrence of power outages which happened in April on account of shortage of the fossil fuel. "In a first ever, Coal India Limited (CIL) on Wednesday floated an international competitive bidding e-tender, seeking bids for import of 2.416 million tonnes (MTs) of coal," the company said in a statement.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
Embattled Sri Lankan President Gotabaya Rajapaksa had declared a state of emergency with effect from May 6 midnight, the second time in just over a month amidst growing countrywide anti-government protests over the economic crisis.
A probe by the National Investigation Agency (NIA) into the Coimbatore explosion case would be recommended to the Centre, the Tamil Nadu government said in Chennai on Wednesday.
The observation is the most detailed of its kind to date, demonstrating Webb's unprecedented ability to analyse distant atmospheres, according to NASA. WASP-96 b is one of more than 5,000 confirmed exoplanets in the Milky Way.
He said the Tamil Nadu BJP has written to Union Home Minister Amit Shah seeking a transfer of the case to the National Investigation Agency.
With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier.
The Maharashtra government has framed rules to prevent honour killings, 'khap panchayat' diktats, mob lynching as well as violence, and asked the director general of police to apprise personnel across the state force of their implementation, an official said on Friday.
Sajid Piludia of Morbi's biggest graveyard for Sunni Muslims said nearly 40 members of the Muslim community lost their lives in the incident.
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
Back in September 2002, Shakti Bhatt/Rediff.com located the former Union Carbide chairman's luxury home in New York, declared unknown by the American and Indian governments. Rediff.com reproduces the feature about his life in hiding.
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