The Centre has put the blame on state governments while state governments complain that money is not released for the proposals given by them to the Empowered Committee that has been tasked with recommending proposals to be funded under this framework.
The decision is expected to provide a push for their development in healthcare, cultural identity, education, financial matters, skill development and women empowerment among others, the Chief Minister's Office said in a statement.
The share of low-cost money in total deposits continued to take a knock at the close of FY23 as banks engaged in intense competition by offering higher interest rates on term money to garner funds amid tight liquidity conditions. The share of current accounts and saving accounts (CASA) in total deposits declined by 2-4 per cent by end of March 2023 from March 2022 figure, according to BSE filings by private banks. The ease of movement of funds on digital platforms and the deployment of money by businesses from current accounts also played a role in dwindling the share of CASA money.
As much as 88 per cent of the Rs 2,000 currency notes have either been deposited or exchanged at banks, and only Rs 42,000 crore worth of such notes are with public as on July 31, the Reserve Bank of India (RBI) said on Tuesday. The last date to exchange/deposit Rs 2,000 denomination notes is September 30. In value terms, Rs 2,000 notes in circulation has come down to Rs 42,000 crore as on July from Rs 3.56 lakh crore on the day of announcement of withdrawal on May 19.
According to NSSO, more than half of India's working-age population is out of labour force. In 2017-18, the youth unemployment rate was in the range 13.6-27.2 per cent.
Justice Chelameswar said the State has reasons to keep surveillance depending upon the situations, but there should be "an amount of transparency in the process".
Nearly 665 million Indians or 45 per cent of the rural population did not have access to the internet as of 2023. Difficulty in understanding internet procedures, insufficient awareness of its benefits, and a lack of interest have emerged as the top reasons for a gap in internet penetration in rural India, according to a joint report by the Internet and Mobile Association of India (IAMAI) and Kantar. "The proficiency of English in rural India is very low. While we have content in Hindi, the internet is English-heavy.
The ICMR-National Institute of Virology has been regularly undertaking studies to understand the protective efficacy of COVID-19 vaccines against emerging variants.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
The same day the tax sleuths had raided the house of DMK MP S Jagathrakshakan and some of those linked to him. The MP from Arakkonam has interests in a variety of business sectors.
To give an impetus to 'Digital India', Prime Minister Narendra Modi had in 2015 announced the smart city mission. The primary objective of the government was to develop 100 smart cities within five years. While the first crop of smart cities was to have been ready by later this year, others were to be developed by 2022-23. But India seems to be falling behind on the timeline.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
The government is confident of meeting the fiscal deficit target of 5.9 per cent of gross domestic product (GDP) and the nominal GDP target of 10.5 per cent despite pressure in the initial months of FY24, Economic Affairs secretary Ajay Seth told Business Standard. Normally the initial months of any financial year see proportionally a higher fiscal deficit because the expenditure is evenly paced while revenue picks up in the later months, he said. "This year the proportional fiscal deficit so far is much closer to the target than in most other years.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
India's leading capital goods and engineering firms are in the midst of one of their busiest seasons, with the combined orderbook surging past Rs 8 trillion in value. As on September 30, 2023, 13 of India's top 15 listed capital goods and engineering firms, for which data for the September 2023 quarter was available, had a total orderbook worth Rs 8.45 trillion - a number unseen at least since 2018-19. "This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector.
The 24-metre-high air purifier recorded a PM2.5 concentration of 642 micrograms per cubic metre at the inlet and 453 micrograms per cubic metre at the outlet.
While there were Rs 7.01 trillion worth of new assets in December 2019, this fell 88.6 per cent to Rs 80,000 crore for the three months ending December 2020, shows data from project tracker Centre for Monitoring Indian Economy (CMIE), reports Sachin P Mampatta.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
Amid criticism over the formation of foam in the Yamuna -- a sign of its hazardous water quality -- the Delhi government on Tuesday deployed 15 boats to remove the froth with the help of ropes.
World trade has been growing slower than world GDP since 2012.
In absolute numbers, India had only 211 start-ups compared to 970 in the US.
Analysts remain selective on cement stocks amid the likely government's capex push ahead of the scheduled general elections in May 2024. While UBS has initiated coverage on the Indian cement sector with an anti-consensus negative view and suggests investors sell select cement stocks on a rally, those at Nomura remain selectively bullish on the sector and prefer companies with large brownfield optionality and multi-region presence. In the near-term, UBS expects strong earnings of cement companies in the next two quarters to be driven by robust demand and margin tailwinds, but suggests any sharp uptick in stock prices could offer a good opportunity for booking profits in the related counters.
The disposal rate of PILs across 23 high courts was available was 83.7 per cent until August 2021 -- the highest in four years.
Management and leadership changes, in addition to synchronising operations between all its airlines, are showing visible results for Air India. Data from the Directorate General of Civil Aviation (DGCA) show that there has been a marked improvement in key operational parameters of Air India after the Tata group took complete control of the national airline in January. One of the most dramatic improvements has been noticed in Air India's passenger load factor (PLF) - a crucial metric of capacity utilisation of an airline's fleet that shows how many seats it has been able to fill on every flight.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
Clock 11% growth in the first 11 months of 2022.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
Rajan strongly defends RBI's decision to hold the key rates in the absence of any new data points.
To cement India's position as a preferred global outsourcing destination, the government on Wednesday liberalised guidelines for voice-based BPOs removing the distinction between domestic and international units as well as permitting interconnectivity between all types of OSP centres. Broadly, the rules would allow global companies, say an airline, with a voice-based centre in India to now serve global and domestic customers with common telecom resources, something that required dedicated, separate infrastructure previously. Moreover, the restrictions on data interconnectivity between any BPO (business process outsourcing) centre of the same company, a group company or any unrelated company has been done away with, allowing for massive flexibility in resource management for BPO operations.
'80% of the rural and urban population don't have enough purchasing power.'
Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. The economy will close the current fiscal logging in a growth of 6.5-7 per cent, he said, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. "This appears to be reasonable at this point in time although we will get the data on the fiscal second quarter in a few days, which will give more clarity on these numbers.
According to government data, the prices have still not crossed the MSPs in some mandis.
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
On media reports quoting some Maharashtra government officials that vaccines in the state are "finished" and adversely impacting the vaccination drive, the ministry said a balance of 7,49,960 vaccine doses is still available with the state for administration to eligible population groups.
Chennai is one of the cities where works have been completed for almost 62 per cent of the money lined up -- Rs 599 crore of the Rs 959 crore has been utilised so far. Despite this, there was no respite for the people in the city this time either, with North Chennai being the worst affected.
India's largest carrier IndiGo will cut 20 per cent of its flights due to lower demand as a rapidly spreading coronavirus upends the recovery of air travel. The airline was operating around 1,200 flights as on Saturday. Other airlines are being forced to cancel flights as states tighten restrictions to combat the spread of the virus, and people are dropping last-minute travel plans. Airlines carried 2,518 passengers on 260,251 flights on Saturday, compared to 2,794 passengers on 358,856 flights the day before.
India has issued a notice to Pakistan for modification of the Indus Waters Treaty of September 1960 following Islamabad's "intransigence" on its implementation
Officials have admitted that the problem of frothing will continue until sewage treatment plants in Delhi are upgraded to meet the new standards.
The Global Hunger Index exaggerates the measure of hunger, lacks statistical vigour and has problems on multiple counts, Union Health Ministry sources said.
