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More pain for emerging economies when developed world raises rates: IMF

Tue, 01/25/2022 - 19:41
The IMF reduced its 2022 growth forecasts for the emerging economies in Asia to 5.9% from 6.3% previously in its latest outlook

India and US need a free trade agreement, says USIBC president

Tue, 01/25/2022 - 14:58
India and the United States must have a Free Trade Agreement for the protection of their businesses and people, Atul Keshap, the new president of USIBC said.

Centre, J-K to collaborate for next generation administrative reforms

Tue, 01/25/2022 - 11:55
The Department of Administrative Reforms and Public Grievances (DARPG) under the Union Personnel Ministry will collaborate with the government of Jammu and Kashmir for next-generation administrative reforms, an official statement issued on Tuesday said. The DARPG and the Jammu and Kashmir government will collaborate on creation of an online portal for monitoring progress in 58 District Good Governance Index Indicators, adoption of e-HRMS in the Jammu and Srinagar secretariats, and online monitoring of citizen satisfaction in 150 e-services through Jammu & Kashmir e-services delivery assessment framework, it said. As a follow-up to the launch of the District Good Governance Index on January 22 by Union Home Minister Amit Shah, the roadmap for three key good governance initiatives was drawn up in a meeting held on Tuesday between DARPG Secretary V Srinivas and Jammu and Kashmir Chief Secretary Arun Kumar Mehta. Minister of State for Personnel Jitendra Singh and Jammu and Kashmir ...

Goyal reviews fast track implementation of infra projects via PMG portal

Tue, 01/25/2022 - 10:39
The PMG is an institutional mechanism to facilitate the resolution of bottlenecks in infrastructure projects

CII calls for doing way with ceiling on service fee for EV charging

Tue, 01/25/2022 - 10:03
CII also recommended waiver of GST on end-user for availing charging for EVs

Gems and jewellery exports up 71% during Apr-Dec to $28.9 billion

Tue, 01/25/2022 - 09:55
Top five export destinations for the sector included the US, Hong Kong, the UAE, Belgium and Israel

Omicron effect: IMF cuts India's GDP forecast for FY22 to 9% from 9.5%

Tue, 01/25/2022 - 09:05
The IMF also slashed its global growth forecast for calendar year 2022 to 4.4% from 4.9% projected in October

MGNREGA unpaid dues may be around Rs 21,000 cr by FY22-end, says PAEG

Tue, 01/25/2022 - 09:00
PAEG said in FY23, a minimum sum of Rs 2.64 trn will be required to provide a minimum legally guaranteed 100 days of work

India could spend 11% of GDP in reaching net zero emissions by 2050: Report

Tue, 01/25/2022 - 08:27
Annual capital spending on physical assets in India would rise from around $300 billion in 2020 to an average of $600 billion between 2021 and 2050, McKinsey believes

IMF cuts India's GDP forecast for FY22 to 9% from 9.5%

Tue, 01/25/2022 - 08:11
The International Monetary Fund (IMF) has cut India's economic growth forecast to 9 per cent for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections on concerns over the impact of a spread of new variant of coronavirus on business activity and mobility. In its latest update of World Economic Outlook on Tuesday, the Washington-based international financial institution, which had in October last year projected a 9.5 per cent GDP growth for India, put the forecast for the next fiscal FY23 (April 2022 to March 2023) at 7.1 per cent. The Indian economy had contracted by 7.3 per cent in the 2020-21 fiscal year. The IMF's forecast for the current financial year is less than 9.2 per cent that the government's Central Statistics Office has predicted and 9.5 per cent that the Reserve Bank of India has estimated. Its forecast is lower than the 9.5 per cent projection by S&P and 9.3 per cent by Moody's but more than the 8.3 per cent ...

'Rental income of 23 malls in 9 cities may fall 24% in Q4 due to Covid'

Tue, 01/25/2022 - 08:01
Rental income of 23 shopping malls might decline 24 per cent to around Rs 300 crore during January-March 2021 period as compared with previous quarter due to the COVID pandemic, according to ICRA.

India's households wrestle with inflation as incomes dip

Tue, 01/25/2022 - 05:41
Tea, edible oil, pulses, meat, cooking gas and services have gone up by 20%-40% since the Covid pandemic began in early 2020

No SC relief for NGOs that lost foreign funding licence

Tue, 01/25/2022 - 05:08
SC asks NGOs to make representation to Centre, which would take decision as per law

Power trade volume rises 37% to 27.6 BU at IEX in December quarter

Tue, 01/25/2022 - 04:27
Power trade volume at Indian Energy Exchange (IEX) rose 37 per cent year-on-year to 27.6 billion units (BU) in the December quarter, mainly due to higher electricity consumption. "During the quarter (October-December), volumes on the Exchange grew by 37 per cent YoY (year-on-year) with 27.6 BU volumes traded versus 20.1 BU in Q3 FY21. The growth in volumes was driven by a substantial increase in electricity consumption as well as the resurgence of trading in RECs and ESCERTs," an IEX statement said. According to the statement, the real-time market continues to be one of the fastest-growing electricity market segments on the exchange, achieving a growth of 70 per cent y-o-y, with 4.8 BU of volumes traded during the quarter. The green market, including the day ahead and term ahead market, cumulatively traded 1.2 BU during the quarter and contributed 5 per cent to overall electricity volumes. On the REC (renewable energy certificate) front, a total of 38.28 lakh certificates and 2.86

India's app economy needs a satisfactory consumer grievance redressal forum

Tue, 01/25/2022 - 04:25
The conventional consumer grievance redress mechanisms are expensive and arduous, and lack the legislative backing to tackle these emerging challenges

FDI policy: 'Bringing clarity to press-note 3 is a step in right direction'

Tue, 01/25/2022 - 04:16
Press-note 3 requires that all investments from entities will have to be made under the 'approval route' and will require security clearance

Job postings in Travel & Tourism sector sees 4% rise in Dec: Report

Tue, 01/25/2022 - 04:02
The travel and tourism industry, one of the hardest hit by the pandemic in the country, is on the path of recovery and registered a 4 per cent year-on-year growth in job postings during December 2021

ESIC scheme adds about 1.02 million new members in November 2021

Tue, 01/25/2022 - 03:55
Around 10.28 lakh new members joined the ESIC-run social security scheme in November 2021 against 12.39 lakh in the previous month, official data showed on Tuesday

Economy has recovered 'handsomely' from Covid disruptions: Panagariya

Tue, 01/25/2022 - 01:37
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog Vice Chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview. While an advanced estimate by the Ministry of Statistics & Programme Implementation (MoSPI) places India's GDP growth in 2021-22, at 9.2 per cent, Panagariya said this is higher than any other country this past year and the recovery has also been across-the-board. The economy, which was significantly hit by the pandemic, had contracted 7.3 per cent in the last ...

'Off to Canada to get whatever': India's jobs crisis frustrates its youth

Tue, 01/25/2022 - 00:47
India's unemployment is estimated to have exceeded the global rate in five of the last six years