Even though the government is patting its own back on non-performing assets (NPAs) recovery made during the first half of this financial year from corporate accounts in the National Company Law Tribunal (NCLT), the retrieval has been declining quarter-on-quarter.
The final decision on transferring a part of the excess reserves to the government has to be that of the Reserve Bank (RBI) alone and any attempt to take away its autonomy could pose a risks to the economy, warns former chief economic advisor Kaushik Basu.
The comments come within two days of ex- RBI governor Raghuram Rajan cautioning that transfer of the reserves may bring down the rating of the RBI.
Amid reports of rising rural distress, a report has expressed concerns on an over 5 per cent dip in sowing for winter crops, which account for the bulk 40 per cent of the annual farm output.
Unless the sowing improves from now on, there will be adverse impact on various aspects, including rural consumption, Crisil warned in a report on Wednesday.
As of December 14, by when 81 per cent of the sowing gets completed, Crisil said there was a 5.25 per cent drop in sowing to 476 lakh hectares as against 502.5 lakh hectares in the year-ago period.
External affairs minister Sushma Swaraj has said that her ministry is in the process of getting Jinnah House, the sea-facing Mumbai bungalow of Pakistan founder Mohammad Ali Jinnah, transferred in its name.
In a letter to city BJP legislator Mangal Prabhat Lodha, Swaraj also said her ministry will refurbish the bungalow on the lines of Hyderabad House in Delhi. Lodha had written to Swaraj on October 5 requesting that Jinnah
House should be made a cultural centre.
Volatility in the market is likely to go up in the run-up to the 2019 general elections and peak once the results are announced. Traders in the equity derivative market are also bracing for the event by adopting different option strategies.
Despite the pace of highways projects undertaken by state-run National Highways Authority of India (NHAI) picking up in the last three years, it is likely to remain short by 33-37 per cent of its FY19 target of completing 6,000 km, says Icra.
With a strong unexecuted pipeline and concerted efforts on right of way, the NHAI is on a strong footing and is set to witness sustained growth in execution in FY2019, the highest ever over the last one decade (FY2010- FY2019), the agency said in a statement issued on Monday.
Swiss multinational investment bank Credit Suisse doesn't see foreign inflows into equity rising in 2019 owing to the global context of slower growth, high rates, less liquidity and more volatility.
On the Indian economy, Credit Suisse said the economic momentum is slowing down currently, dragged down by weak consumption as demand is dissipating, with the Pay Commission effect waning.
Air India’s narrow-body pilots union ICPA has blamed capacity deficiency vis-a-vis competitors for its plunging domestic market share while seeking a long-term plan for aircraft fleet expansion at the carrier.
In a letter to civil aviation minister Suresh Prabhu last week, the Indian commercial pilots association (ICPA) also lamented that while other domestic carriers have placed huge aircraft order with both Airbus and Boeing, Air India will be inducting only five planes in its fleet going forward.
The year 2018 will be remembered as a challenging year for the Indian rupee that depreciated by nearly 15 per cent against the dollar compared with a goldilocked 2017 that had seen the rupee appreciate 5.5 per cent.
For most part of this year, volatile crude oil prices and trade war between the US and China weighed on the rupee. In addition, higher interest rates in the US and a stronger dollar hit emerging market economies, including India.
Maharashtra Chief Minister Devendra Fadnavis will file an appropriate response to the Supreme Court’s notice to him on a plea seeking annulment of his election to the state Assembly for alleged non-disclosure of pending criminal cases against him in his nomination papers, the CMO said on Thursday.