Hitting out at Prime Minister Narendra Modi over the issue of tax cuts on petroleum products, Tamil Nadu Chief Minister M K Stalin on Thursday said people were aware of the fact behind the issue and pointed out at his government effecting a Rs 3 a litre cut on petrol earlier.
JNPT, the country's largest container port, would soon move into congestion if cargo does not get lifted by importers in the next few days.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
The government must expand the farm insurance cover and advice banks and financial institutions to settle crop insurance claims in the drought-hit areas without delay.
The government's annual Economic Survey on Friday strongly defended new farm laws, saying they herald a new era of market freedom which can go a long way in improving lives of small and marginal farmers in India. These legislations were designed "primarily" for the benefit of "small and marginal farmers", which constitute around 85 per cent of the total number of farmers and are the biggest sufferer of the "regressive" APMC-regulated market regime, the survey said. The pre-budget document defended the farm laws in the backdrop of long-running farmers' agitation at various borders of the national capital seeking repeal of these legislations expressing concern that they are pro-corporate and could weaken government regulated mandis, also called Agriculture Produce Marketing Committees (APMCs).
As a model of transport, the A380 strikes a parallel -- a shared fragility -- with giant container ships, observes Shyam G Menon.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
'What would we feel if we found the world behaving the way it has?' 'Forced to fight our own prolonged battle; nobody from outside really demanding that the war end or actively working to make it end, and above all, a completely toothless United Nations reduced to pleading for a halt to the violence,' notes Shyam G Menon, exactly a month after Vladimir Putin ordered the invasion of Ukraine.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
Industrial output fell 3.2 per cent in November.
The country saw two straight years of deficient monsoons.
An India-Japan joint statement said the two leaders expressed serious concern over the conflict and the unfolding humanitarian crisis in Ukraine.
Most key rabi-producing states of north India, such as Madhya Pradesh and Rajasthan, have staggered their procurement to enable farmers to come in batches, so that there is no overcrowding. The Centre has also set up a call centre to coordinate the inter-state movement of farm commodities.
As India strives to make its Act East Policy a comprehensive politico-diplomatic and economic success, Brunei gains more salience, says Dr Rahul Mishra.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
Define your North Star. Experiment in your 20s be adventurous and experiment and use these experiences to build your flywheel and compliment your IQ with EQ.
FMCG, durables, pharma firms say they remain unclear about transition gains and losses
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
'India's sizeable foreign exchange reserves should serve as a buffer.'
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
As controversy plagues foods again, brandification will bridge the trust deficit, critical for stakeholders.
Swadeshi jeans will be entirely made of cotton with no addition of any kind of synthetic material
'They were planning collection of arms dropped by drones and supply to active terrorists of Jaish-e-Mohammed in Kashmir valley; planting a vehicle-based IED in Jammu before 15th August and reconnaissance of important targets in other parts of the country'
India's negotiating posture at the multilateral negotiations should be aligned with a significantly transformed development strategy domestically.' 'The positions the country takes at the negotiations will then carry credibility, says Shyam Saran, former foreign secretary and India's chief negotiator on Climate Change 2007-2010.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
India consistently ranked among the top three countries whose products were rejected for import by the regulator.
When President Obama lands in New Delhi later this week, this spirit of accommodation must reignite a strategic economic relationship between the two countries.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
Dozens of farmers have already committed suicide in India after damage from unseasonal rains this year.
The fast-growing, high-margin branded spices business is turning out to be an interesting growth opportunity, which to an extent was reflected in the Sunrise-ITC deal, with multiple parties from PE to strategic players joining the fray.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
After demonetisation, sharp fall in PE valuation offers an attractive entry point into some quality names and these 3 FMCG companies are expected to see the fastest growth in earnings with at least 15 per cent upside potential
The USS John Paul Jones acted like a dog marking the lamp post, observes Ambassador M K Bhadrakumar.
Union Home Minister Amit Shah on Monday reviewed the preparations for Cyclone Yaas including the evacuation of people on the high seas as well as in vulnerable coastal areas and the safety of COVID-19 facilities.
Jharkhand spinner Shahbaz Nadeem and Saurashtra batsman Sheldon Jackson rise to the challenge in these dark times.
In the early part of 1800, a 30-acre plot next to Fort Gloster on the banks of river Hooghly in Howrah district of Bengal was the nerve centre of industrial activity; it housed India's first steam-powered cotton mill, Bowreah Mills, which was set up by a British merchant and went on to become a hub of factories - a rum distillery, foundry, cotton yarn factory, an oil mill and a paper mill, et al. Spearheaded by Dwarkanath Tagore, the industrialist grandfather of Rabindranath Tagore, the commercial complex was possibly the first of its kind in the country. Close to 200 years later, after much ebb and flow of history, the hub is set for a resurgence of sorts.
India's latest GDP numbers do not signal robust economic growth in near term.
