The Centre and states are likely to budget for higher market borrowings to the tune of Rs 2.3 lakh crore next fiscal even though the Union budget may peg a lower-than-expected fiscal deficit for the Centre at 5.8 per cent of GDP, says a report. Icra Ratings anticipates higher redemptions will lead to gross market borrowings of the Centre to rise to Rs 14.8 lakh crore and of the states to jump by Rs 1.6 lakh crore to Rs 9.6 lakh crore, taking the combined borrowings (of the Centre and the states) to Rs 24.4 lakh crore in FY2024, up by 2.3 lakh crore from FY23 combined. In FY23, the Centre's gross borrowings are budgeted at Rs 14.1 lakh crore and of the states at Rs 8 lakh crore, or a combined borrowing of Rs 22.1 lakh crore, according to the agency.
While the FPI limit on most bond issues would not be raised above 6 per cent, there would be some in which there would be no limits, reports Arup Roychoudhury.
The apex court, which had passed an order on May 10 and noted that no reservation for OBCs can be provisioned until the triple test formality is completed 'in all respects' by the state government, permitted the state to notify the reservation pattern local body wise as delineated in the reports of the dedicated commission.
Once the UK drug regulator gives its approval to the Oxford vaccine, the expert committee on COVID-19 at the Central Drugs Standard Control Organisation (CDSCO) will hold its meeting and thoroughly review the safety and immunogenicity data from the clinical evaluations conducted abroad and in India before granting any emergency authorisation for the vaccine here, official sources said.
Ibakordor Pde, Assistant Restaurant Manager of Hilton Mumbai International Airport has curated two easy-to-make recipes just for you.
"If municipal elections can take place in Hyderabad and Assam, why not here. The situation is worse than Kashmir and is similar to that of Iran and Iraq. Didi (Mamata Banerjee) has proved that West Bengal's law and order is not conducive to go for polls," he said while addressing a party meeting in Kolkata.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The TMC had swept all the 16 assembly segments in Kolkata in the last election.
The Bharatiya Janata Party bagged 48 wards and the All India Majlis-e-Ittehadul Muslimeen of Asaduddin Owaisi secured 44.
The phone conversation between Jaishankar and Blinken came days after Russian Foreign Minister Sergey Lavrov paid a two-day visit to India.
The X4 offers an imposing presence that you cannot miss even in a crowd of other cars, says Pavan Lall.
As for Bharat Biotech, the Subject Expert Committee (SEC) on COVID-19 of the CDSCO asked the firm to expedite volunteer recruitment for the ongoing clinical trial and said it may conduct interim efficacy analysis for further consideration of restricted emergency use approval for its vaccine Covaxin, they stated.
The Union Cabinet on Tuesday gave its nod to a bill to merge the three municipal corporations in Delhi, sources in the government said.
Mahendra Singh Dhoni is drawing a lot of flak for his indifferent form with the bat in this year's IPL, but there is no one quicker than the Chennai Super Kings captain when it comes to reflexes, said former Indian team trainer Ramji Srinivasan.
Norway's Karsten Warholm broke Kevin Young's 29-year-old 400m hurdles world record when he completed the race in 46.70 seconds in front of his home fans at the Diamond League meeting in Oslo on Thursday.
The arrest warrant was issued by the court of Judicial Magistrate Ravtesh Inderjit Singh.
In view of the high court verdict, the Kalaburagi district administration has imposed Section 144 effective from 8 pm Monday till 6 am on March 19.
Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee's (MPC's) surprise move to increase interest rates bodes well for its credibility. The RBI's monthly State of the Economy report, released on Tuesday, citing high frequency food price data from the Ministry of Consumer Affairs for the period May 1-12, said the increase in the prices of cereals was primarily because of the surge in wheat prices.
The talks took place on the sidelines of the G-20 foreign ministers' meeting in the Indonesian city of Bali.
However, despite Covid, Indian markets registered their best financial year performance in a decade, with the Sensex and Nifty50 rallying 68 per cent and 71 per cent, respectively, in FY21.
The 22-year-old Anas clocked 45.32 sec under hot and humid conditions at the Jawaharlal Nehru Stadium. He also qualified for the World Championships to be held in London in August. The entry standard for the World Championships stands at 45.50secs.
The spreads between state development loans and equivalent-maturity government papers have started widening, and market participants don't expect them to contract anytime soon. The rise in spreads is a direct measure of market displeasure than a rise in yields.
Mamata Banerjee thanked people for casting their votes in favour of the TMC.
The government on Wednesday said it will borrow Rs 7.24 lakh crore in the first half of 2021-22 fiscal to meet resources to perk up the economy hit by the coronavirus pandemic. According to the Budget 2021-22, the government's gross borrowing was estimated at Rs 12.05 lakh crore in the financial year beginning April 1. "In the Budget, we had announced that there would be a gross borrowing of Rs 12.05 lakh crore and net borrowing of Rs 9.37 lakh crore. "In the first half of 2021-22, we would be borrowing Rs 7.24 lakh crore, which is 60.06 per cent of the gross issuances," economic affairs secretary Tarun Bajaj said. He said the government would issue 2-year, 5-year, 10-year, 14-year, 30-year, and 40-year securities.
Amit Gupta, MD, Sag Infotech, answers your personal income tax queries.
The Reserve Bank of India (RBI) will stay away from changing key rates - including the reverse repo rate - this fiscal in the backdrop of Omicron. However, it will continue to shape the rate movements through liquidity market operations. Soumya Kanti Ghosh, group chief economic advisor, State Bank of India, said whether Omicron surge or not, there is not going to be any hike this year. However, the central bank may continue to shape rates through market operations.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
The agency recorded his statement under criminal sections of the Prevention of Money Laundering Act (PMLA), officials said.
Adversarial Harmful Networks -- India Case Study, cited in Facebook whistleblower Frances Haugen's SEC complaints, revealed, among other things, that Facebook was a preferred platform for 'fear-mongering anti-Muslim narratives' in India, observes Devangshu Datta.
Covaxin has been indigenously developed by Bharat Biotech in collaboration with the Indian Council of Medical Research.
Infosys on Friday said a class action lawsuit filed against the company and some of its employees in the US district court has been dismissed. The move comes after whistleblower complaints alleging certain unethical practices by the top management emerged in October last year.
The Pune-based firm had submitted interim safety and immunogenicity data of phase 2/3 bridging clinical trial conducted in the country as well as interim clinical trial data of safety and efficacy from phase3 clinical trials conducted in the UK and the US along with its application.
An expert panel of India's Central Drug Authority on Tuesday recommended granting permission to Serum Institute of India (SII) for conducting phase 2/3 trials of Covid vaccine Covovax on children aged 2 to 17 years with certain conditions, official sources said.
Aggrieved by the violence that marked the panchayat poll in West Bengal which claimed at least 12 lives and left 43 injured, several candidates who were in the fray had met the SEC officials and demanded the repolling.
"In democracy, a political party cannot be stopped from functioning by sealing its office", observed the Supreme Court Monday as it dismissed the plea of ousted All India Anna Dravida Munnetra Kazhagam leader O Panneerselvam (OPS) against the Madras high court order directing him to hand over the keys of party headquarter to party chief K Palaniswami.
The court asked the SEC to issue a fresh notification extending the date for filing nominations.
Imam in his fresh bail plea stated that since the apex court has put sedition (Sec 124-A) in abeyance, his case has improved for grant of bail.
An average 46.1 per cent voter turnout has been recorded in the elections to six municipal corporations in Gujarat, officials said on Monday.
India has been in touch with all parties concerned as part of overall global efforts to bring down the tensions.
The government said it had received many representations seeking extension of time citing many difficulties due to the second wave of Covid-19 and the subsequent lockdowns. MCA has asked the registrar of companies to approve the extension of the time limit to hold the AGM.
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