With Nirmala Sitharaman's Budget presentation lasting for about one hour 31 minutes on Tuesday, the finance minister's budget speech this year became the shortest ever since 2019.
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
Last week, two BSF troopers from Rajasthan, members of the UN Peacekeeping Force in Congo, were killed by protestors. Do we need to lose lives fighting in a country not ours, in a war that is not ours and for a cause that is not ours, asks Air Commodore Nitin Sathe (retd), who served in the UNPKF in Congo.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
Modi and Deuba discussed ways to strengthen ongoing cooperation and develop new areas in the multifaceted bilateral partnership.
Finance Minister Nirmala Sitharaman on Tuesday said monetisation of Central Public Sector Enterprises (CPSE) assets is based on the principle of value creation for the government and investors and would bring about a paradigm shift in infrastructure augmentation and maintenance. Chairing the National Workshop with the states/UTs on Asset Monetisation organised by Niti Aayog, the minister sought the collaboration of states for the holistic development of infrastructure. She said India can become a $5 trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, through active collaboration between the public and private sector.
Perhaps the calculation is that economic recovery will have been achieved before the next general election comes around, but such assumptions can come unstuck if current directions are not reversed quickly, cautions T N Ninan.
Five to 10 per cent of the active Covid cases this time so far needed hospitalisation but the situation is dynamic and may change rapidly, the Centre said on Monday and asked states to keep a watch on cases under home isolation and in hospitals.
The latest avatar of the F-15 is designed to deal with the world's most potent air threats that are emerging from China.
Thackeray was speaking virtually after the inauguration of a water taxi service, linking Navi Mumbai to south Mumbai, and the Belapur jetty in the neighbouring township.
The Union health ministry, however, suggested necessary curbs in areas reporting over 10 per cent positivity rate or 40 per cent occupancy in either oxygen-supported or ICU beds.
A multi-functional facility, equipped with 36 specially designed vaults for storage of Electronic Voting Machines and VVPATs, was on Friday inaugurated by Chief Election Commissioner Sushil Chandra in Delhi, officials said.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
Ola Electric became the latest among electric scooter (e-scooter) makers to have started the exercise of recalling a specific batch of its model after a rap on the knuckles by the government. Union Minister of Road Transport & Highways Nitin Gadkari on Thursday advised electric vehicle (EV) companies to act responsibly by identifying and recalling defective batches without waiting for orders or guidelines from the ministry. The Bengaluru-based start-up is conducting pre-emptive diagnostics and health check on 1,441 scooters, it said in a statement on Sunday.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Electric vehicle market is likely to attract investments of Rs 94,000 crore over the next five years and is expected to generate business opportunities in the real estate sector, according to a joint report by Colliers India and Indospace. The report 'Electric Mobility in Full Gear' mentioned that the electric vehicle (EV) industry in India is currently at a nascent stage but it is likely to grow, backed by government initiatives and a move towards recognising climate change. "India is taking a step towards sustainability and has vowed to cut its carbon emissions. "At the recently concluded CoP26 summit, India pledged to reach net-zero carbon emissions by 2070. "In India, the transport sector is currently the third-largest emitter of CO2. This is leading to increased thrust on EVs in India," it said.
If 2019-20 (FY20) was an unusual year for highway construction in India, with the pace of work slowing down for the first time since the Narendra Modi government assumed power in 2014, largely due to the general elections in May and liquidity crunch, the outbreak of the Covid-19 pandemic in 2020-21 (FY21) only made matters worse with lockdowns and labour unavailability. The pace of highway construction in 2021-22 (FY22) has not been able to bulldoze the pandemic barriers in a year marred by two Covid-19 waves - the second at the start of the fiscal year, the third towards the close. With localised lockdowns and restrictions on mobility, highway construction growth in the country has now fallen to a five-year low.
'Both of us are not politicians. We were forced to enter politics to counter corruption that is looting the country.'
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
Barclays' assessment of 35 major cities on various socio-economic parameters suggests that mass transit rail systems should be a high priority in 12 cities with bus rapid transit systems acting as feeder services.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
'EV-charging is the next big opportunity after fuelling'
The first openly gay major presidential candidate in American history, and one of the youngest-ever to win a state primary or caucus, Buttigieg, 38, is a barrier-breaking public servant from the industrial Midwest with a track record of trailblasing, forward-thinking executive leadership.
Here's the full text of the maiden address to the nation by President Droupadi Murmu on the eve of Independence Day 2022.
'Short term volatility is likely due to various factors, global and domestic; investors may use this as an opportunity to increase the allocation to equities.'
The experts said that climate change is not only raising temperatures and making India's heatwaves hotter, but also changing weather patterns that further drive dangerous weather extremes.
Maharashtra Chief Minister Prithviraj Chavan is agreeable in principle to this tax, but the government is yet to take a decision.
President Ram Nath Kovind on Monday said the country's farm production and procurement increased during 2020-21 crop year despite the pandemic and agricultural exports reached a record level of Rs 3 lakh crore during the same period. In his address to the joint sitting of both Houses of Parliament at the start of the Budget session, Kovind said the government is focusing on making the country self-sufficient in edible oils besides making special efforts to promote organic farming, natural farming and crop diversification. "My government is working continuously to empower the farmers and the rural economy of the country... I would like to give maximum credit to the small farmers of the country for this consistent success and strengthening of the agriculture sector," he said.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
Speaking during the Question Hour, the road transport and highways minister said the country has set several world records in road construction despite COVID-19. The construction of Zoji La tunnel on the Srinagar-Leh highway will be completed before 2024, while another Z-Morh tunnel will be completed in the next three months, he added.
The strategic 900-km-long Chardham project worth Rs 12,000 crore aims to provide all-weather connectivity to four holy towns -- Yamunotri, Gangotri, Kedarnath, and Badrinath -- in Uttarakhand.
The past appears to have interrupted the future of the New Delhi Railway Station (NDLS). With two protected heritage buildings sitting in the way of the plan to redevelop the railway station, officials in the know say the project may end up back on the drawing board since the National Monuments Authority (NMA), the body tasked with the protection and preservation of monuments and sites, is yet to give its approval. "A nod from NMA is awaited before going into the next phase of bids for the redevelopment of the New Delhi Railway Station," a senior official of the Ministry of Railways told Business Standard. While the Railways ministry is hopeful of getting approvals from the NMA before the end of the current financial year, there is no clarity on this yet.
"The deal is being implemented. We witnessed attempts on the part of the US to undermine this cooperation and make India obey the American orders to follow the American vision of how this region should be developed," Russian Foreign Minister Sergey Lavrov said.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
Urban mass transit authority to be set up; it will act as nodal agency for planning and coordination of project related works.
Union Minister Nitin Gadkari on Friday said he has asked US-based Tesla several times to manufacture its iconic electric vehicles in India, while assuring that all support will be provided by the government to the company. Addressing 'India Today Conclave 2021', Gadkari further said electric cars manufactured by Tata Motors are not less good than electric cars manufactured by Tesla. "I have told Tesla that don't sell electric cars in India which your company has manufactured in China.
'The government needs to think if a draconian, outdated and colonial law is needed in a democratic, multi religious, diverse country governed by a democratic government.'
Capital markets regulator Sebi on Monday came out with a framework for operationalising the gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts (EGRs). The stock exchange desirous of trading in EGRs may apply to Sebi for approval of trading in the new segment, the regulator said in a circular. The bourses can launch contracts with different denomination for trading or conversion of EGR into gold. Under the new framework, the entire transaction has been divided into three tranches-- creation of EGR; trading of EGR on stock exchange and conversion of EGR into physical gold.
Ramesh Menon, the veteran journalist suggests Prime Minister Narendra Damodardas Modi what he should do if he wants to win 2024 Lok Sabha elections.
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