He said the prime minister has received global recognition and India was rising under his leadership.
Finance Minister Nirmala Sitharaman's Budget speech on Wednesday was marked by the usual thumping of benches by the ruling alliance members, but the loudest cheer was reserved for her announcement of income tax relief, which was welcomed by 'Modi, Modi' chants in Lok Sabha that also witnessed a few instances of protest by the Opposition.
'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
In the chair was Defence Minister Rajnath Singh, a Bharatiya Janata Party leader of the old school with friends across parties unlike the duo who currently run the BJP.
JP Morgan's decision last week to include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) index and the index suite from June 2024 may be a sort of blessing for India, as the move is estimated to result in an inflow of $25 billion of foreign portfolio investments into the country. The development comes at a time when the spread between the benchmark 10-year government of India bond and the 10-year US government bond has declined to its lowest level in more than 17 years. Low yield spreads make Indian bonds less attractive to foreign portfolio investors (FPIs).
Congress president and Leader of Opposition in Rajya Sabha Mallikarjun Kharge on Wednesday claimed he was 'insulted' as his mic was turned off while he was speaking in the House the previous day.
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
Ruling and opposition members in Rajya Sabha on Tuesday sparred over 'foul' remarks made by Congress president Mallikarjun Kharge in Rajasthan's Alwar, with treasury bench members seeking an apology from him.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
The unusual timing of the session has left everyone wondering, even though the main standout feature on the listed agenda is a special discussion on Parliament's journey of 75 years starting from the "Samvidhan Sabha" (Constituent Assembly).
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
Sparks flew on the first day of the debate on the no-trust motion moved by the Congress with the Opposition on Tuesday asserting that it was forced to do so to break Prime Minister Narendra Modi's 'maun vrat' (vow of silence) on Manipur and the treasury benches hitting back saying it was a no-trust vote against a 'poor person's son' who has worked for the welfare of the people.
Several opposition MPs on Wednesday demanded an explanation from Home Minister Amit Shah after two visitors jumped into the Lok Sabha chamber from the visitors' gallery and opened canisters that emitted coloured smoke, triggering panic among the members.
One fallout of Rahul Gandhi's disqualification will be reflected in the Opposition's role in Parliament and related institutions.
Attacking Arvind Kejriwal over his announcement of 50 per cent reduction in power tariff up to 400 units, the Bharatiya Janata Party leader Harsh Vardhan today said Kejriwal was indulging in "populism" and the decisions would be implemented at the cost of Aam Admi's welfare projects.
Anna Hazare's fast demanding a strong Lokpal entered the fifth day on Saturday with his Team saying they were ready to talk to the government but no such communication channels have been opened.
Only a misogynistic man can gesture a flying kiss to female parliamentarians, Irani said.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
Rajya Sabha was adjourned for the day on Friday amid an uproar in the House over the issue of law and order situation in Rajasthan.
Union Minister Smriti Irani on Wednesday came down heavily on Congress leader Rahul Gandhi for his 'murder of India in Manipur' remark in Lok Sabha, saying this is for the first time in parliamentary democracy that someone has made such a statement.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
The Khalistan movement leader is trying to provoke Hindu Canadians to react and divide the Hindu and Sikh communities in Canada, Arya said.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
The opposition parties are seeking the President's intervention in the matter, claiming that violence in the BJP-ruled northeastern state is continuing unabated.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
'It has been an ongoing process, talking to the relevant ministries about eliminating leakages and curbing non-core expenditure in various schemes.'
Weeks before Canada made an explosive allegation implicating Indian officials in the killing of Sikh separatist leader Hardeep Singh Nijjar, Canadian officials sought public condemnation of the murder from their allies, including the United States, but were met with reluctance, The Washington Post reported.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
Parliament's Budget session has been a washout since the beginning of its second part on March 13, with the BJP demanding an apology from Gandhi.
Union Home Minister Amit Shah on Friday said the current logjam in Parliament could end if the Opposition and the government sit for a discussion and both move two steps forward.
Opposition parties, including the Congress, Trinamool Congress, Bharat Rashtra Party and Samajwadi Party, came together in a show of unity on Thursday and accused the Modi government of getting the second half of the budget session washed out, while asserting that if this attitude continues, the country will move towards a "dictatorship".
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
'The Manipur government is a government now ruled by the mob.'
As the lower house took up the motion moved by Gogoi, there were heated exchanges between the opposition and treasury benches after Parliamentary Affairs Minister Pralhad Joshi wondered why Rahul Gandhi's name as lead speaker was withdrawn at the last minute.
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
The US banking behemoth Citigroup has got risky assets worth $306 billion -- a figure equivalent to over half the total assets, nearly six times of market value as well as annual revenue, or about 50-times of full-year net profit of all Indian banks together!
The government on Tuesday introduced a constitutional amendment bill reserving 33 per cent seats for women in the Lok Sabha and state assemblies, reviving a proposal pending for years and blending history, politics and societal imperatives on the first day in the new Parliament building.
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