Former Reserve Bank of India (RBI) Governor Raghuram Rajan says the government should take advantage of the peaks in the Indian equity markets right now and sell stakes in PSUs while prioritising spending to get the economy back on track. The upcoming Budget for the fiscal year beginning April 1 should look to provide "relief to the poorer households and small and medium enterprises," he said. And then move on to getting the economy back on track.
The year gone by has also forced all airlines to turn the lens sharply on their own costs, workings and internal dynamics, opening their eyes to their vulnerabilities. Fewer, leaner, nimbler players will emerge from the carnage.
India's tax pie seems to have undergone a subtle change with a sharp drop in direct tax collections resulting from a disproportionate impact of the COVID-19 carnage on incomes. The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that of direct taxes - made up of corporate and personal income tax - has gone down in 2020. In an interview with PTI, finance secretary Ajay Bhushan Pandey said in a pandemic like this where the economy has been impacted, any large scale changes impact direct taxes more severely, whereas indirect tax collection is mostly proportional to business turnover and compliance.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
'Le Carré's spies were nothing like the exotic Kim of Kipling or the caricature that is James Bond.' 'Driven by a simple patriotism, held back by incompetence and politics, his characters use deceit and treachery to win their morally Pyrrhic victories,' notes P Rajendran.
'The pay cuts have been very tough on those with entire families to support.'
The remarks by the court came while dismissing the bail pleas in three cases of former Aam Aadmi Party councillor Tahir Hussain, who allegedly abused his "muscle power" and "political clout" to foment communal violence.
India should observe October 22 as Kashmir Martyrs Day to pay tribute to those who lost their lives to Paakistan's State terrorism, suggests Brigadier Narender Kumar (retd).
It was an exhibition of brutal strokeplay as the Mumbai Indians's dangerous duo of Kieron Pollard and Hardik Pandya tore the Kings XI Punjab bowling apart at the Sheikh Zayed Stadium in Abu Dhabi on Thursday.
As soon as he entered his barrack, Rahul noticed a group of seven inmates seated on their mattresses under the television set. They must be the terrorists, Rahul thought to himself. He knew that such accused are usually housed in murder barracks, far from jingoistic gangsters, who tend to abuse and attack them. A fascinating excerpt from Gangster On The Run: The True Story Of A Reformed Criminal.
The chargesheet in which 15 persons have been named as being part of a 'premeditated conspiracy' in the north east Delhi riots, said the tone and nature of the communication of the members of Jamia Co-ordination Committee (JCC) changed from the evening of February 24 and they started talking about relief, rehabilitation and care of the victims while 'simultaneously unleashing concerted disinformation campaign blaming the state, police and the ruling political party for the loss of lives and property caused by their terrorist and unlawful act'.
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Tata Steel, SBI, NTPC, Bharti Airtel, ITC and ICICI Bank.
'Great social change brings great linguistic change, and that has never been truer than in this current global crisis.'
Modi reviewed the situation in West Bengal and Odisha with chief ministers Mamata Banerjee and Naveen Patnaik, two days after the cyclone, the worst in years, devastated their states.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
Former captain Abdul Majed was hanged for his involvement in the 1975 coup in which the country's founder Bangabandhu Sheikh Mujibur Rahman was assassinated, nearly four-and-a-half decades after the high profile massacre.
Kolkata Knight Riders coach Brendon McCullum says it is also comforting to be at home as the world battles a pandemic, which has made isolation the new normal. He said the situation demands that everyone stays at home and maintains social distancing, the only way to curb the spread of the virus, which has caused thousands of deaths worldwide.
This barefoot pilgrimage home we're seeing all around us, and the way plenty of us have reacted to it, is not just a commentary on India, circa 2020. It also shames us forever, notes Dilip D'Souza.
'A national government will help us to harness the totality of national resources to fight the war against the coronavirus most effectively,' state Lieutenant General Ashok Joshi (retd) and Colonel Anil A Athale (retd).
Given the developments, analysts expect fiscal and monetary support from the government and RBI to revive sentiment. However, recovery, they say, from these levels will be slow and painful.
'Why not simply make some more ventilators and find some more beds? How much would it cost?' asks Ambassador M K Bhadrakumar.
Axis Bank was the top loser in the Sensex pack, tanking over 28 per cent, followed by Bajaj Finance, IndusInd Bank, ICICI Bank, Maruti and L&T. NSE Nifty nosedived 1,135.20 points or 12.98 per cent to settle at 7,610.25.
It is this new Muslim who is not burdened by the Pakistan guilt, who is ready to fight it out for the rights enshrined under the Constitution, and who is not defensive about Muslim identity that the BJP and the Sangh Parivar are out to crush, argues Mohd Asim.
On the BSE, 2,243 scrips declined, while 224 advanced and 106 remained unchanged.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
Investor wealth plummeted by nearly Rs 5 lakh crore in early trade on Monday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak. Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index plunged 1515.01 points, or 4.03 per cent, to 36,061.61. The NSE Nifty too cracked 417.05 points, or 3.80 per cent, to 10,572.40.
In six trading sessions to Friday the market capitalisation of BSE-listed companies saw a massive decline of Rs 11,76,985.88 lakh crore. All Sensex components were trading in the red, led by losses in Tata Steel, Tech Mahindra, Infosys, Mahindra and Mahindra, Bajaj Finance, HCL Tech and Reliance Industries.
Images from the first One-Day International between New Zealand and India in Hamilton, on Wednesday.
The court said that all the convicts will have to undertake community services for six hours a week besides reporting to the local police station on a weekly basis as bail conditions.
L&T was the top gainer in the Sensex pack followed by M&M, SBI, Titan, Infosys, Bharti Airtel and Ultratech Cement.
Sreehari Nair presents his Top 20 movies of the decade.
For someone, who is yet to fulfil his true potential for Australia, Maxwell has always been a big draw for the IPL franchises, especially Kings XI Punjab, where he was much sought after.
Hotel Mumbai wants to be a gripping depiction of a grim time but it could've been a lot more, feels Sukanya Verma.
Chris Jordan's all-around brilliance could not prevent New Zealand from securing a series-levelling 21-run victory over England in the second Twenty20 International of the five-match series on Sunday.
'If they were really serious (about conferring the Bharat Ratna on Savarkar) what were they doing for the last five years?' 'Why do they have to take so long?' 'Gandhi himself never got the Bharat Ratna so it does not really matter.'
'Here was a man who played a major part in helping the Bengalis of East Pakistan create a new nation, secured the merger of Sikkim into the Indian dominion and built R&AW into a formidable outfit, comparable to the best in the world.' Rameshwar Nath Kao shunned the limelight, hated to be photographed and preferred to work behind the scenes. A revealing excerpt from Nitin A Gokhale's much awaited book, R N Kao: Gentleman Spymaster.
Kenya's Ruth Chepngetich overcame extreme heat and humidity to win the World Championship midnight marathon on Friday, in a gruelling test of survival that saw nearly a third of the 70 starters fail to reach the finish line.
Ireland attack ruthlessly exposed the cracks in England's batting as the hosts posted their lowest home total since scoring 77 against Australia in 1997.
HDFC and HDFC Bank were the biggest losers in the Sensex pack, plunging 5.09 per cent and 3.32 per cent, respectively, after the private bank reported a rise in non-performing assets.
'Prime Minister Modi is from Gujarat and so does not understand the importance of the Jallianwala Bagh massacre to Punjabis,' says the British MP fighting for an apology for the Jallianwala Bagh massacre.
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