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FCI’s food subsidy expenses likely to decline next fiscal, if PMGKAY is not extended
By Sandip DasFood subsidy expenses incurred by the Food Corporation of India (FCI) is likely to decline by around 42% to Rs 1.3 lakh crore in 2022-23 from around Rs 2.28 lakh crore anticipated in the current fiscal, if the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) is not extended beyond March 31, 2022.Under the PMGKAY, an additional foodgrain of 5 kg per person per month is being supplied to more than 80 crore beneficiaries free of cost, besides highly subsidised foodgrain supplies of sim -
Indian Oil to invest $944 million on gas sales network in nine new areas
The new licences awarded to IOC relate to major districts of some states. -
This isn’t the presidency Joe Biden imagined for himself
The problems Biden is facing are an almost perfect inversion of the problems Obama faced. The Obama administration was bedeviled by crises of demand. The Biden administration is struggling with crises of supply. -
Foreign portfolio investors invest Rs 3,117 crore in Indian markets in January so far
Depositories data showed that they pumped Rs 1,857 crore into equities and Rs 1,743 crore into hybrid instruments during January 1-14. -
World Economic Forum’s Davos summit begins Monday; PM Modi, Jinping to deliver special addresses
With its high-profile annual meeting getting deferred due to the COVID-19 pandemic, the World Economic Forum’s five-day online Davos Agenda summit will begin on Monday with Prime Minister Narendra Modi and Chinese President Xi Jinping scheduled to deliver their special addresses on ‘state of the world’ on the first day itself. The Forum has been hosting its annual meeting in the Swiss ski resort town of Davos for 50 years, but it could not take place in 2021 due to the pandemic -
Budget 2022: Increase in tax on components to make mobile PLI uncompetitive for exports, says ICEA
The share of Indian companies in the mobile productions has come down from 47 per cent in 2016 to around 8 per cent at present. -
IT industry can play a key role in raising services exports to $1 trillion a year, says Piyush Goyal
He lauded the IT industry’s proposal to create IT hubs in tier-2 and tier-3 towns across the country and said the Central government would go all out to help the industry get top-class facilities. -
New education system to be helpful in the overall development of youth, says Akash Singh Lall
This new education policy aims at making the curriculum smooth and simple. -
Third wave of pandemic fuels online exercise boom. says Nirmal Singh
While home workouts precede the coronavirus, they have taken on a social aspect that appears to be on the verge of becoming the norm in a world altered by the epidemic. -
Watch: Massive Emirates A380 plane fly near air hostess standing on top of Burj Khalifa
A stuntwoman stood on-top of the Burj Khalifa once again in the video sponsored by Emirates, but this time she has the company of an Airbus A380 emblazoned with the "Marmite" Expo 2020 livery. -
Insurance companies want 'waiting period' for Covid-infected patients, says Dr. Kumar B.G
Last year's devastation caused by the second wave of the Covid 19 outbreak sparked a trend that is now a full-fledged policy for all insurance firms. -
Isuzu D-Max V-Cross price hiked by upto Rs 2 lakh; check new price list
Isuzu D-Max Hi-Lander, introduced as an affordable alternative to the V-Cross, sees a huge price hike of Rs 2 lakh. -
Sri Lanka invites more Indian investments in ports, infra, energy and manufacturing sectors
Sri Lanka has urged more Indian investments in ports, infrastructure, energy, power and manufacturing sectors, days after New Delhi announced a USD 900 million loan to Colombo to build up its depleted foreign reserves and for food imports amid a shortage of almost all essential commodities in the island nation.Sri Lankan Finance Minister Basil Rajapaksa held talks with External Affairs Minister S Jaishankar on Saturday during which the two ministers discussed projects and investment plans by Ind -
Old Royal Enfield Bullet modified into a Bobber is hard to recognize, check pics
Bengaluru based Bulleteer Customs modified an old Royal Enfield with cast-iron engine model into a stunning bobber -
Piyush Goyal assures full support to IT firms in pushing growth, exports to USD 1tn
Commerce and Industry Minister Piyush Goyal on Sunday assured full government support to leaders of India’s top IT companies in pushing the growth of the sector and taking services exports to USD 1 trillion in a decade.He said the country is on track to achieve its merchandise exports target of USD 400 billion this year, while services exports are likely to be about USD 240 -250 billion.“We can converge USD one trillion. That should be the ambition, mission. You have a little bit of -
National Startup Day validates role of startups in growth of economy
National Startup Day is a validation of the role of startups in the growth of the country’s GDP and strengthening India’s position at a global stage, and will encourage young talent to see entrepreneurship as a primary career option, according to industry experts.On Saturday, Prime Minister Narendra Modi announced that the country will celebrate January 16 as National Startup Day, as he termed startups the “backbone” of new India and the engine that will power the nation& -
After Telangana, now Maharashtra and West Bengal invites Elon Musk to set up Tesla's plant
Three Indian states welcome Musk in their states to set up his Tesla EV plant.
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Tesla owner claims he mined crypto worth Rs 60,000 per month using his electric car
Siraj Raval made approximately $800 a month when the price of ETH peaked last year. -
Budget 2022-23 Expectations: Fintech firms demand further liberalisation of tax regime
The fintech industry has urged Finance Minister Nirmala Sitharaman to further liberalise the tax regime for financial sector startups. -
Bank Holidays: Banks to remain shut for 7 days in second half of January; Full list here
The Reserve Bank of India (RBI) released a list of holidays for the year 2022 in its annual list, and the holidays were planned accordingly. -
Watch massive Emirates A380 fly near 'air hostess' standing on the top of Burj Khalifa
Last year, social media went crazy when Emirates released a commercial featuring a "flight attendant" sitting atop the Burj Khalifa, the world's tallest building. It was confirmed in a behind-the-scenes video by Emirates that the stunt was real and now the stunt is being repeated in a 2022 Dubai Expo promotion video. -
China#39;s Q4 GDP growth seen hitting 1-1/2-year low, raising heat on policymakers
On a quarterly basis, growth is forecast to rise to 1.1% in the fourth quarter from 0.2% in July-September. -
Delhi aggregator policy: 10 percent of vehicles to be electric in next three months
Aggregators and delivery services in Delhi would need to ensure that 10% of all new two-wheelers and 5% of all new four-wheelers are electric in the next three months. -
Budget 2022-23 could consider levying TDS and TCS on crypto trading, make it reportable in SFT
The government could consider in the upcoming Budget levying TDS/TCS on sale and purchase of cryptocurrencies. -
Power consumption grows 1.5% in first fortnight of January amid third COVID-19 wave
Experts are of the view that the slowdown in power consumption growth in the first fortnight of January clearly shows the impact of local restrictions imposed by states amid the third wave of COVID-19 which affected industrial and commercial demand -
Gail director arrested by CBI in bribery case
The CBI has arrested E S Ranganathan, Director (Marketing) of GAIL, in a case of alleged bribery of over Rs 50 lakh for giving discounts to private companies buying petro chemical products marketed by the Maharatna PSU, officials said Sunday -
Royal Enfield Bullet with a cast-iron engine converted into a Bobber; Full story here
Bengaluru based Bulleteer Customs modified an old Royal Enfield with cast-iron engine model into a stunning bobber -
Two faces of an Economy in predicament
By Achla SavyasaachiA significantly large population in developing economies across the globe are part of the informal economy. In India, almost 90 per cent of the country’s workforce earn their livelihood as informal workers as per the Economic Survey 2019-20. An IMF policy paper (February 2021) estimated their contribution to the country’s Gross Value Added (GDP+ subsidies on products-taxes on products) at 53.9% in 2011-12. However, it pointed out that it has “improved” -
Aditya Birla Fashion faces data breach, over 5.4 million email IDs compromised
Aditya Birla Fashion and Retail Ltd is facing a data breach on its portal. -
EPFO Withdrawal: Here’s how to cash out money twice from your PF account
EPFO has allowed its subscribers to withdraw double money from their PF account. -
Gold imports jump over 2-fold to USD 38 bn in Apr-Dec 2021
India’s gold imports, which has a bearing on the country’s current account deficit (CAD), more than doubled to USD 38 billion during April-December this fiscal on account of higher demand, according to data of the commerce ministry. The imports stood at USD 16.78 billion in April-December 2020.In December 2021, imports of the precious metal rose to USD 4.8 billion from USD 4.5 billion in the year-ago period. The surge in gold imports during the nine months contributed to the widening -
Ola S1 electric scooter production stopped, forced to upgrade to S1 Pro alleges customers
Customers of Ola S1 claim that they are being forced to upgrade to S1 Pro, which may not be feasible for everyone since it would require an additional payment of about Rs 30,000. -
India’s overall macroeconomic situation on recovery mode but facing stagflation: Kaushik Basu
India’s overall macroeconomic situation is in a recovery mode but the growth is concentrated at the top end, which is a worrying trend, according to former World Bank Chief Economist Kaushik Basu. Amid the rising inflationary trends, including the sharp increase in retail inflation last month, Basu, who has also served as Chief Economic Advisor to the Indian government during the UPA rule, said the country is facing stagflation and “very carefully curated policy interventions” -
HDFC, SBI hike fixed deposit interest rates, right time to invest in FDs?
SBI Bank has increased the interest rate on fixed deposits by 10 basis points or 0.10 per cent. -
Maruti Suzuki announces price hike upto 4.3 percent, check new prices here
Maruti Suzuki has increased prices of its models in a range of 0.1% to 4.3% owing to a rise in various input cost. -
Ola, Mahindra, Hyundai bid for incentives under Rs 18,000 crore PLI scheme for battery manufacturing
The Indian government had last year finalised an incentive program to encourage companies to invest in the local manufacturing of batteries. -
National Startup Day gives entrepreneurs hope, will enhance awareness, job creation
January 16 is celebrated as National Startup Day, starting from 2022. -
GSK rejects $68 billion Unilever bid for consumer healthcare unit
GlaxoSmithKline said it has rejected an unsolicited 50 billion-pound ($68.4 billion) bid from Unilever for its consumer healthcare goods unit, a joint venture it controls in a partnership with Pfizer.
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