Housing sales fell 37 per cent year-on-year during the 2020 calendar year while gross office space leasing declined 35 per cent on low demand because of the coronavirus pandemic, but demand improved significantly in the last quarter to cross pre-COVID level, property consultant Knight Frank India said on Wednesday. In its 'India Real Estate - Residential and Office Update H2 2020' report released on Wednesday, the consultant reported that sales of residential properties fell 37 per cent to 154,534 units in 2020 across eight cities as compared with 245,861 units in the previous year.
India saw 4.2 million foreign tourists till May mainly thanks to visitors from Bangladesh
BSNL is providing telecom services in remote parts of the country and maintaining 17,000 to 18,000 exchanges, incurring Rs 3,000 to Rs 4,000 crore losses every year. Otherwise, these villages will be cut off.
Service tax waived for online train ticket booking till Dec 31
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
As part of an ongoing series, we bring you stories of young Indian Americans who came looking for the Real India and found their real selves instead. Rupak Basu recounts his trip to India.
What happened in India in the week gone by? Here's the top stories that captured India's attention in the week gone by.
The country's largest lender State Bank of India on Wednesday said it has reduced its marginal cost of fund-based lending rate (MCLR) by up to 15 basis points across various tenures, effective March 10. The bank has reduced its one-year MCLR by 10 basis points to 7.75 per cent from the earlier 7.85 per cent, SBI said.
'The present government swears by Hinduism. But we lost three of our sants during earlier BJP regimes.'
Telecom Minister Ravi Shankar Prasad had told Parliament in November that Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues.
Though the mandate is seen largely an outcome of Banerjee's welfare schemes, she has promised to industrialise at a faster pace, or so read the manifesto.
The relaxation would be available only to those beneficiaries who have been credited with the advance for buying the cylinder but have not been able to purchase the refill.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
In this winter of discontent, in every procession, in every demonstration, in every protest -- from Jawaharlal Nehru University to Jamia to Shaheen Bagh to the streets of Mumbai -- the front rows have been occupied by women. It's been weeks since women have been sitting in protest across the country against the newly-introduced Citizenship Amendment Act and the proposed National Register of Citizens. The protests are a nerve centre of unwavering voices against what has been perceived as a discriminatory law. The women -- some housewives, some students with hijabs covering their hair, and others in full-length burqa robes -- are rallying against the 'Man' in what could also be perceived as a revolution for the 'weaker sex' in India.
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
'The BJP's modus operandi is not just to be intolerant of dissent, it is to create mistrust and doubt between communities and the electoral process itself.'
Soaring fuel prices give birth to a jugaad system in Bihar's border towns abutting Nepal with residents smuggling in India-supplied cheaper petrol and diesel from the mountain kingdom.
The rating agency revised the outlook for EXIM, SBI, Bank of Baroda, Bank of Baroda (New Zealand), Bank of India, Canara Bank, Punjab National Bank, ICICI Bank, Axis Bank while affirming their ratings. At the same time, Fitch has affirmed IDBI Bank Ltd's (IDBI) rating, while maintaining the outlook at negative.
Wicket-keeper batsman Wriddhiman Saha's battling half-century helped India reach 316 before the hosts were dismissed in their first innings against New Zealand on the second morning of the second test at Eden Gardens on Saturday.
'The immune protection may well wane somewhat, and that's what we have to monitor.' 'Should it wane to the point where vaccinated individuals are getting severe disease, then we really will need to give them booster shots and that'll apply regardless of what vaccine they've got the first time.'
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
The main factor boosting production was a sustained rise in new work inflows.
Steps will be taken to attract external commercial borrowing and FDI in the education sector, the finance minister said. Stating that govt will soon introduce new education policy, Sitharaman said online degree courses to students from weaker sections.
Chief Economic Adviser K V Subramanian on Friday said there is an "upside potential" in the estimates about the economy during the current financial year amid a faster-than-expected recovery. He said the final print could be better than GDP estimates given by various institutions, including the Reserve Bank of India, which projected contraction of 9.5 per cent during 2020-21. During the second quarter, India's economy recovered faster than expected as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on consumer demand bouncing back.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
Mapping all its 13 lakh employees and identifying potential quarantine facilities for each of them is part of the protocol drafted by Central Railway to insulate its staffers from Covid-19. The document, 'Rail Pariwar Dekh Rekh Muhim' (drive to take care of the railway family)' lists a series of steps to be followed by zonal railways to keep employees safe.
Rough estimates from plantation companies have pegged production loss in excess of 100 million kg (mkg) across India which is valued at around Rs 2000 crore. Usually, plantation companies in Assam and West Bengal produce around 15 per cent of the total tea during March-April.
Tea estates across Assam and West Bengal, which were hitherto closed owing to the lockdown, opened in April.
Man of the match Virat Kohli has said that it is the challenge of playing on tough pitches like the one at Eden Gardens brings the best out of him.
Centre plans to acquire land and then give it on lease to miners.
The BCCI letter did not make a specific reference to Pakistan, which has been accused of harbouring terrorists by India.
Though the Bills of Punjab and Rajasthan have a lot of similarities, the one approved by the Chhattisgarh Assembly is structurally different. None of the three has tried to address a key demand of the agitating farmers in full, which is to make all payments below the MSP, within and outside mandis, illegal.
Its total income (consolidated) rose to Rs 79,302.72 crore in the quarter under review, compared to Rs 74,948.51 crore in the year-ago period
The World Bank also approved $200 million for Pakistan, $100 million for Afghanistan, $7.3 million for the Maldives and $128.6 million for Sri Lanka.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
Thousands and thousands of protesters, many of them students who skipped school, have gathered in cities across the world kicking off a day of worldwide protests calling for action against climate change ahead of a United Nations summit. From the Pacific Islands to Australia and India, protesters took to the streets on Friday, demanding their governments take urgent steps to tackle the climate crisis and prevent an environmental catastrophe. Greta Thunberg, the 16-year-old Swede who inspired the climate strike, tweeted her support. Check out photos from all over the world.
Despite the failure of most e-commerce players to meet orders through the first week of the lockdown, there has been no serious crisis, thanks to supplies from 11 million small kirana and mom-and-pop stores across the country with the support of over 300,000 distributors and wholesalers.
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