Revenue collection next financial year may be affected, and, along with this, subsidies on food and fertilisers can go up if the war in West Asia drags for long, according to experts.
Nirmala Sitharaman moved into her Kartavya Bhavan office on October 2, in time to get the work on the Budget 2026-2027 going.
A day after resigning as the navy chief, Admiral D K Joshi on Thursday wrote to his colleagues, saying he was "firm" on taking responsibility for the mishaps that have taken place.
Indian Navy chief Admiral D K Joshi resigned on Wednesday evening after owning moral responsibility for the series of mishaps plaguing submarines in the military.
On February 22, 2024, President Droupadi Murmu -- supreme commander of India's defence forces -- witnessed an impressive operational demonstration by the Andaman and Nicobar Command at Swaraj Dweep in the South Andaman.
In her first engagement in Port Blair, the President laid a wreath at the Martyrs Column and visited the Cellular Jail complex and museum. She also witnessed the light and sound show at the Cellular Jail.
Vice Admiral Devendra Kumar Joshi, Western Naval Command chief and a specialist in anti-submarine warfare, was on Tuesday named as the new Navy Chief to succeed Admiral Nirmal Verma whose tenure ends on August 31.
Prime Minister Narendra D Modi virtually inaugrated the new terminal building of the Veer Savarkar International Airport in Port Blair, the capital city of the Andaman and Nicobar Islands on Tuesday, July 18, 2023.
The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO). "We were waiting for the First Advance Estimates GDP numbers for FY24. "We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days.
'The nylon noose was around his neck; a suicide note was in his hands.'
The economy is likely to log in a tepid 6 per cent growth next fiscal, in line with the consensus estimates, rating agency Crisil said on Thursday. The agency also sees the economy averaging a growth rate of 6.8 per cent over the next five fiscals. Crisil further said it expects the corporate revenue to log in double-digit rise again next fiscal.
As a percentage contributor to nominal GDP, PFCE's share was 60.1 per cent in FY23, compared with 59.6 per cent and 60.8 per cent in the two preceding fiscal years. "Although PFCE is expected to grow 7.7 per cent in FY23, we believe it is still short of a broad-based recovery. "The current consumption demand is highly skewed in favour of goods and services consumed largely by the households falling in the upper income bracket. "A broad-based consumption recovery, therefore, is still some distance away," said Sunil Kumar Sinha, principal economist with India Ratings.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India's exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, which clocked a record $26.2 billion in June. Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. And, with other currencies depreciating, India's comparative advantage in this respect may be limited.
If the government of the day would like to set in place a smooth and well-planned changeover and facilitate the incoming chief to chalk out his action plan well in advance, the announcement of a successor needs to be done early, observes Colonel K Thammayya Udupa (retd).
In one of the worst disasters to have struck the Indian Navy, a series of explosions rocked its submarine INS Sindhurakshak at the dockyard here around midnight, sinking it partially in the shallow sea, in which 18 personnel including three officers are feared killed.
Viewing the rapid modernisation of the Chinese Navy as a "major concern", Navy Chief Admiral D K Joshi on Monday made it clear that India will protect its interests in the disputed South China Sea, even if it means sending forces there
At a time when China's bullying behaviour has been evident in its actions and pronouncements, India is signalling that it is ready to emerge as a serious balancer in East Asia and Southeast Asia, says Harsh V Pant.
Vice Admiral Shekhar Sinha on Tuesday took over as the flag officer commanding-in-chief, Western Naval Command.
Better than projected revenues from the spectrum auction for 3G services and Broadband Wireless Access is likely to reduce the Centre's fiscal deficit to 4.47 per cent of the GDP during 2010-11 from an estimated 5.5 per cent and curtail its huge borrowings.
Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
On the eve of the Budget presentation, economists on Thursday said the they expect the government to roll back some of the stimulus measures, as the economic growth is on rebound with the Economic Survey projecting the GDP to expand by up to 8.75 per cent in FY'11.
Direct economic stimulus measures such as tax cuts for individuals and industry would have helped to prop up the Indian economy which was hit hard by the lockdowns across several states in India, say economists and corporate leaders. While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move the needle for the economy.
During the week, prices of fish marine were dearer by 10 per cent, arhar, fruit and vegetables by 2 per cent each while urad and moong rose by 1 per cent each.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
Union Home Minister Amit Shah on Monday reviewed the preparations for Cyclone Yaas including the evacuation of people on the high seas as well as in vulnerable coastal areas and the safety of COVID-19 facilities.
CRISIL chief economist D K Joshi is of the opinion that GDP is an indicator of the health of the economy.
To propel demand, one should concentrate on indirect taxes and bring down the goods and services tax (GST) rates to a uniform 12 per cent as the Vijay Kelkar panel had recommended, said Ajit Ranade, chief economist at Aditya Birla Group.
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
The Indian Navy has constituted a high-level inquiry headed by an officer of the rank of Rear Admiral to look into the recent cases of submarine mishaps.
Crops including fruit, vegetables account for 60% of GDP in agriculture, forestry, fishing sector.
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
The Indian Navy tested its war machinery in series of month-long drill in the Indian Ocean. RS Chauhan reports
Admiral D K Joshi was to have served as naval chief till July 2015. Had he completed his full tenure, then Vice Admiral Satish Soni, currently Commander-in-Chief of the Indian Navy's smallest command, the Southern Naval Command, would have taken over as the next naval chief.
A "minor" fire broke out in one of the living compartments of warship 'INS Savitri' in the Naval dockyard in Visakhapatnam but there were no casualties.
Vegetable, fruit prices to be on the rise over weak supply, crop damage
Prime Minister Manmohan Singh on Monday took stock of the preparedness of the country's nuclear arsenal with the top security brass, including chiefs of the three services.
Many countries including the United States and France have offered help to India in its ongoing operations to bring out bodies in the sunken submarine INS Sindhurakshak.
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