Kumaraswamy met representatives of farmers groups and progressive peasants to discuss the problems faced by them.
The fifth meeting of Monetary Policy Committee maintained the repo rate, at which it lends to the banks, at 6.25 per cent and the reverse repo, at which it borrows, will be 6 per cent.
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
'If you are investing in a Ulip for returns, go for a type I Ulip.' 'If you are investing for insurance cover as well, type II is better.'
'It is not just the US and European opportunity, but it is a huge global opportunity.'
India currently does not have any XBB 1.5 variant-based vaccines available.
On behalf of BCCI, the three-member Committee of Administrator (CoA) along with CEO Rahul Johri will meet Manohar.
Telecom operator Bharti Airtel reported more than 2.5 times jump in its consolidated profit to Rs 4,160 crore in the April-June quarter of 2024-25 compared to the year-ago period driven by an improvement in average revenue per user and an exceptional gain of Rs 735 crore. The company had posted a profit of Rs 1,612.5 crore in the same period a year ago. The consolidated revenue from operations of Bharti Airtel increased by 2.8 per cent to Rs 38,506.4 crore during the reported quarter from Rs 37,440 crore in the June quarter of the last year.
Beyond the macro data, there has been little enquiry into the profile of the indebted farmer households, says Shailesh Dobhal.
Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
The programme permits visa free travel for 20 mn visitors per year.
Referred to as 'Badlav Patr (document of change)', Congress leader Randeep Surjewala and All India Congress Committee's Bihar in-charge Shakti Sinh Gohil presented the manifesto that promises farm loan waiver and 50 percent subsidy in electricity bills to farmers up to 100 units of consumption. The manifesto also promised that it will reject the Centre's farm laws if voted to power.
Ahead of the meeting of the Nuclear Suppliers Group, India has said it will not accept the waiver from the 45-nation grouping if the 'red lines' set by it are crossed. National Security Adviser M K Narayanan made it clear that inclusion of any clause on testing, periodic review or denial of enrichment and reprocessing technology in the text of the NSG waiver would be unacceptable and hoped a way around these issues would be found through diplomatic efforts.
Interacting with farmers in Gadak district of Karnataka, Congress general secretary Rahul Gandhi said he is opposed to blanket waiver on farm loans, as it could prove 'destructive for the system'. He called for strengthening micro-finance and credit lending systems as a remedy to farmers' problems. Gandhi stressed on rural excellence and indigenous knowledge to guide the country to a better agrarian situation. He stressed on micro-finance systems & grass-root political units.
Experts believe that waiving off farmers' loans is not the right solution to their problems. If the government puts this money in developing protected agricultural practices, drip irrigation facilities, creating aggregators for the farmers to play in the Futures market and teach them the modern farming methods, they will manage the rest. Farmers usually don't get loans from banks and have to go to moneylenders. They mortgage not just their land, but also homes and equipments.
It would amount to penalising the people, who make an attempt to repay loans.
"We are not in a position to take new responsibilities till the present commitments (Rs 60,000 crore farm loan waiver package) are implemented," Agriculture Minister Sharad Pawar said replying to supplementaries in the Lok Sabha. "Let us first implement the farm loan waiver scheme presented in the Budget and see the results," Pawar said noting that more than 81 per cent farmers fall in the small and medium categories which were covered under the package.
Maharashtra Government has sought a waiver of the Rs 10 crore bill sent by the Indo-Tibetan Border Police towards expenses for guarding Ajmal Kasab, the Pakistani gunman caught during the 26/11 terror attack and now sentenced to death.
'With technology advancing, we should go all out and put up solar, wind, pumped storage, and battery, and make India go green.'
Passenger vehicle wholesales crossed the 10-lakh mark for the first time ever in the June quarter riding on the back of robust demand for utility vehicles, industry body SIAM said on Friday. Total dispatches of passenger vehicles in the first quarter stood at 10,26,006 units, up 3 per cent as compared with 996,565 units in April-June FY24. Utility vehicle sales rose 18 per cent to 645,794 units in the first quarter as against 547,194 units in the year-ago period.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Uddhav said fast implementation of the announcement is necessary.
Making the announcement, Chief Minister Devendra Fadnavis said this was the "biggest" loan waiver scheme in the country.
Sachin has now applied for a homologation waiver of Rs 15 lakh.
The France Excellence Charpak Master Scholarship is designed for up to two years of education in France at the Master's degree level for all streams and fields of study.
The Janata Dal-Secular leader, who was sworn-in Karnataka chief minister last week after the Congress extended unconditional support to his party, said he is ready with the guidelines on farm loan waiver, details of which will be disclosed on Wednesday.
The farm loan waiver scheme may not trigger a tendency among farmers to default intentionally, Amarendra Sahoo, chief general manager, rural planning and credit department, Reserve Bank of India, said on Thursday.
The Union ministers and farmer leaders had met earlier on February 8, 12 and 15 but the talks remained inconclusive.
The Union HRD minister Smriti Irani visited Hindu college recently to sort the issue of non-extension of fee waiver for persons with disabilities.
In an indication of the "positive trajectory" of the bilateral ties, the United States has issued a waiver, second in six months, for sale of major defence equipment to Pakistan citing national security interest.
A panel of Union ministers will hold a fourth round of talks with farmer leaders in Chandigarh on Sunday over their demands, including loan waiver and bringing an ordinance on giving legal guarantee to a minimum support price (MSP) for crops.
Modi claimed the Janata Dal-Secular-Congress coalition government which came to power in Karnataka recently had waived only 800 farm loans.
Referring to an action against farmers by the security personnel deployed by the Haryana authorities at the Punjab-Haryana border, Pandher slammed paramilitary personnel for using "force" against farmers, leaving many injured.
'We need to be far more careful given the fact that while this is group lending, it's essentially unsecured.'
The draft of the proposal for the India-specific exemption at the Nuclear Suppliers Group has undergone further changes which include a provision for regular information by its head about New Delhi's adherence to its guidelines on global atomic trade, a move aimed at pacifying countries having reservations over the waiver to India.
Seeking to allay apprehensions of members on farm loan waiver, Finance Minister P Chidambaram said on Friday 'every' suggestion made on the ambitious scheme was under examination.
Ultimately, it boils down to whether a loan waiver will help without taking action to improve irrigation facilities and to ensure remunerative prices for farmers.
Farmer leader and Lok Sabha member Raju Shetti, who participated in the talks, said he was happy that their demands had been met.
For many years now, the Congress and its allies have not had any noteworthy representation from the area. The loan-waiver package may not improve things in the next general elections in 2009, Business Standard found out in an extensive tour of the area. Most farmers said they did not find it worthwhile to go to a bank for loan because the process was too cumbersome.
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