Successive governments focused on altering the clearance processes but largely gave a pass to the second, and essential, element of environmental regulations for monitoring pollution levels and how industries followed conditions laid down for clearances.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
What we want from spectrum allocation is access to broadband networks at prices that will result in productivity gains.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
Gandhi said that the BJP government has clearly mishandled the economy that was built by the United Progressive Alliance government, and is now resorting to selling the country's assets as a "last resort" to generate some money.
The Reserve Bank of India (RBI) is likely to keep monetary policy steady in June despite sluggish economic activity as inflation remains elevated, a Reuters poll showed on Wednesday.
This is because the government's move might dim the possibility of taking over the 42 blocks permanently.
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office estimated that India's GDP grew by 8.5% in the financial year 2010-11 and not at 10.3% as previously estimated.
March and April payrolls were revised to show 32,000 more jobs.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
'Increased allocations for MNREGA could have provided the much needed push to rural demand and consumption at a time when recovery continues to remain uneven.'
Manufacturing sector, which constitutes over 77 per cent of the index, showed a decline of 0.4 per cent in June as compared to a growth of 7.5 per cent in the same month last year.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
India's economy could prove to be the "most resilient" in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country's large market will continue to attract investments. The report titled 'Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021', and compiled by United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), stated that inward FDI flows to South and South-West Asia slightly decreased by 2 per cent in 2019, from $67 billion in 2018 to $66 billion in 2019. The growth, however, was mainly driven by India, which accounted for 77 per cent of the total inflows to the subregion and received $51 billion in 2019, up 20 per cent from the previous year.
IIP growth rises to 9-month high of 4.3 pc in August
The gross domestic product had expanded by 8 per cent in the April-June quarter of 2011-12.
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In the aviation sector, 100 per cent FDI is allowed under automatic route for MRO (maintenance, repair, overhaul), ground handling, and aircraft purchase.
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The Coal Ministry has decided to constitute a six-member panel for valuation and assessment of the 42 running coal blocks which were deallocated by the Supreme Court.
As part of the energy sector reforms, government is trying to evolve a consensus on commercial mining of coal to promote development of the sector, Coal Minister Sriprakash Jaiswal said.
The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago.
Metal shares gained on hopes that the government may adopt ordinance route for mines sector reforms
The government has held back the release of complete data of the Index of Industrial Production (IIP) for April, as was done for the same month last year due to the COVID-19 lockdown. Last year in June, the National Statistical Office (NSO) had held back the release of complete IIP data due to the effect of the nationwide lockdown on factory output. This year too industrial production was hit due to lockdown restrictions imposed by states to curb the second wave of the pandemic.
After the Ladakh fiasco where Xi Jinping did not expect the Indian Army to resist his land-grabbing tactics, he has to save face before his colleagues in the Communist party.' To bring the threat of a mega-dam to the northern Indian border is a clever move, observes Claude Arpi.
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
Manufacturing sector, which constitutes over 75 per cent of the index, grew at 5.5 per cent in November compared to a decline in output by 4.6 per cent earlier
Industrial production expanded a provisional 3.4 per cent year-on-year in June.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Speaking at industry association CII's annual session, PM Modi said the government has taken tough steps to fight the coronavirus pandemic and has also taken care of the economy. "On the one hand we have to safe the lives of our people and on the other hand we have to stabilise the economy and speed up the economy," he said. "Yes, we will definitely get our growth back," he asserted.
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
The ministry of statistics and programme implementation on Friday released quick estimates of the Index of Industrial Production (IIP) which showed the index value at 88.4 in May against 53.6 in April, indicating a graded pickup in industrial activity. The index stood at 135.4 in May 2019.
If international crude oil prices zoom past the current level of about $90 per barrel and move towards $100 and beyond, middle-class consumers are not going to keep quiet about their discomfort, points out Arun Balakrishnan, former chairman and managing director, Hindustan Petroleum.
'We don't expect any immediate impact on salaried jobs.'
Prime Minister Narendra Modi on Wednesday called for focus on 'repair and prepare' as the nation emerges out of a devastating pandemic. "Over the past year, we have witnessed a lot of disruption in different sectors. Much of it is still there. Yet, disruption does not have to mean despair," he said at VivaTech Summit. "Instead, we must keep the focus on the twin foundations of repair and prepare," he said referring to the need to augment healthcare infrastructure in the country as well as prop up the economy.
Around 81 per cent of the workers constitute the unorganised sector - devoid of any social security cover and outside the purview of a complex set of labour laws.
All real estate developers may not be able to avail the benefit of Reserve Bank of India's one-time restructuring scheme as they might not meet the required financial ratios and have the necessary credit rating, HDFC vice chairman and CEO Keki Mistry said. He was speaking at a real estate and infrastructure investor summit organised by Naredco. "Restructuring may not necessarily help every developer because not too many will be able to meet the criteria laid down in terms of meeting the various ratios and getting credit ratings," Mistry said.
Sensex, Nifty end lower on global concerns.
