Demonetisation, shop

Demonetisation move is economically inept, the measure might be a political masterstroke

Siddhartha Mitra : When politics trumps economics

Business Standard

Prime Minister Narendra Modi Sunday left for home after wrapping up his two-day "successful" visit to Kuwait during which the two countries elevated their relationship to a strategic partnership, marking a new era of bilateral cooperation and growth.
"A historic & successful visit to Kuwait concludes! PM @narendramodi emplanes for New Delhi," Ministry of External Affairs Spokesperson Randhir Jaiswal said in a post on X.
Modi's visit to Kuwait was the first by an Indian Prime Minister to the Gulf nation in 43 years.
During his visit, Modi held extensive talks with the country's top leadership, including Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, with whom he discussed boosting ties in information technology, pharmaceuticals, fintech, infrastructure and security.
"In line with the close ties between our nations, we have elevated our partnership to a strategic one and I am optimistic that our friendship will flourish even more in the times to come," Modi said in a post on X.
Modi

Modi Kuwait

The PTI welcomed the formation of the government committee for negotiations, calling it a "positive step"

Today, the almighty has saved Pakistan and the 22 crore people of the country. This is the first time when the vote of no-confidence motion was successfully passed. The people of this country will celebrate this day: Shehbaz Sharif

Shehbaz Sharif, Pakistan

Meghalaya lost over 84 sq km forest cover between 2021 and 2023, according to the latest India State of Forest Report (ISFR).
Except for Sikkim, which reported an increase of 2 sq km forest cover, all other states in the northeast region witnessed a reduction of the area under forests, it said.
The region, with 7.98 per cent of land area, collectively contributes 21.08 per cent of India's forest and tree cover, the ISFR, 2023, said.
Union Minister for Environment, Forest and Climate Change, Bhupendra Yadav, had launched the report at the Forest Research Institute in Dehradun on Saturday. It showed a nationwide increase of 1,445 sq km in total forest and tree cover recorded since 2021.
While the study did not specify what caused the loss of forest cover in Meghalaya, forest officials in the state said human activities, including agricultural expansion, increased settlement and infrastructure development are suspected to be the reasons.
The report also made mention about jhum ...

Assam, Assam forest

As Punjab farmer leader Jagjit Singh Dallewal's fast-unto-death entered its 27th day on Sunday, doctors termed his health condition "critical".
Doctors attending to him at the Khanauri border protest site reiterated that Dallewal is at the risk of cardiac arrest and multi-organ failure.
Dallewal, 70, has been on a fast-unto-death at the Khanauri border point between Punjab and Haryana since November 26 to press the Centre to accept the agitating farmers' demands, including a legal guarantee for MSP on crops.
A statement issued by the Samyukta Kisan Morcha (Non-Political) and Kisan Mazdoor Morcha said following the advice of doctors, the veteran farmer leader did not come on stage on Sunday.
Due to the continuous hunger strike for 27 days, his immunity has become very weak, putting him at the risk of infection, the statement said.
"His hands and feet were cold. Starvation is adversely affecting his nervous system, and vital organs like liver and kidneys," a doctor who examined Dall

Dallewal

Over the past few years, wage growth has consistently trailed both general and food inflation rates, with the exceptions of FY21 and FY24

Demand for work under the flagship Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) slumped in August 2024. Data shows that in the month, around 16.06 million households sought work under the scheme, the lowest monthly demand since Oc

GST Council addresses disaster levy, clarifies tax exemptions, and revises ITC norms, while deferring insurance premium GST cut and key rate rationalisation decisions

GST council meeting

After two weeks of buying, FPIs turned net sellers in Indian equities this week, with a net withdrawal of Rs 976 crore amid a strengthening US dollar and steady rise in US 10-year bond yields, impacting investor sentiment.
Foreign Portfolio Investors (FPIs) began the week on a positive note, investing Rs 3,126 crore in equities during the first two trading sessions (December 16-20).
However, the trend reversed in the latter half of the week, with FPIs offloading equities worth over Rs 4,102 crore in the subsequent three sessions. This resulted in an overall net outflow of Rs 976 crore during the week, data from National Securities Depository Limited showed.
Despite this short-term reversal, the broader December trend remains positive. FPIs have infused Rs 21,789 crore into Indian equities so far this month, reflecting continued confidence in India's economic growth potential and its resilient markets.
FPIs adopted a cautious approach due to the US Fed meeting and uncertainty about 

Foreign portfolio investor exodus: Financial sector bears the brunt, FPI

Fundraising via IPOs in India hit another landmark as economic growth, favourable market conditions and improvements in the regulatory framework helped companies raise a record Rs 1.6 lakh crore in 2024, while the pipeline for the next year holds out bigger promise.
This exceptional year not only reflected the confidence of issuers but also highlighted investors' eagerness to seize listing-day gains or back companies with strong long-term growth potential.
The year was marked by Hyundai Motor India's historic IPO, the largest in the country's history, which raised Rs 27,870 crore.
Companies of varying market capitalisations -- large, mid, and small -- tapped into the IPO route in 2024, with the average issue size rising significantly from Rs 867 crore in 2023 to over Rs 1,700 crore in 2024.
The exceptional vibrancy of the IPO market was evident, with December alone seeing at least 15 launches.
"Rising retail participation, strong domestic inflows and active participation by FPIs (

ipo market listing share market

A 50-year-old doctor from Saudi Arabia, who has been living in Germany since 2006, is the prime suspect in the Christmas market attack in Magdeburg, which killed five people

Germany police

The accumulated losses of state public sector enterprises (PSEs) rose from Rs 3,953.70 crore in 2020-21 to Rs 4,778.70 crore in 2022-23, while the profit earned by 13 SPSEs stood at Rs 20.21 crore as on September 30, 2023, according to a report by the Comptroller and Auditor General (CAG) on finances tabled in the Assembly on Saturday.
The net worth of nine out of these 14 PSEs has been completely eroded by losses and their worth was (-) Rs 1,932 crore against an equity investment of Rs 2,085.59 crore, while three PSEs have outstanding government loans amounting Rs 3,132 crore, the report said.
Himachal Pradesh State Electricity Board topped the list of loss making enterprises with accumulated losses of Rs 1,809.61 crore, followed by Himachal Pradesh Road Corporation at Rs 1707.12 crore, HP Power Corporation at Rs 552 crore, Himachal Pradesh Power Transmission Corporation at Rs 395.91 crore, HP Financial Corporation at Rs 180.97 crore, State Forest Corporation at Rs 113.04 crore, HPM

The Centre may overshoot the Rs 56,260 crore target for dividend receipts from central public-sector enterprises (CPSEs) set for FY25 and is likely to end up getting around Rs 65,000 crore this financial year, according to a senior government officia

ISMA has urged the government to permit sugar exports immediately, citing favourable global market conditions

Sugar Ethanol

The sell-off shaved off investor wealth by Rs 2.8 trillion on Thursday, extending the four-day loss to almost Rs 10 trillion

Market borrowing surged 32.8% in FY24, RBI report says

State Sops

Ola Electric on Thursday said it will expand its sales and service network to about 4,000 outlets on December 25.
With over 3,200 new stores complementing its existing footprint, the Bengaluru-based firm is bringing its portfolio of electric vehicles (EVs) closer to consumers across metros, Tier-2, and Tier-3 towns, Ola Electric said in a statement.
The company has launched #SavingsWalaScooter campaign, an initiative to bring EVs closer to every Indian household, it added.
Co-located with service facilities, these stores will ensure customers receive sales and after-sales support, it added.
"By leveraging its direct-to-consumer (D2C) model, Ola is ensuring that EV ownership becomes a reality for every household, breaking barriers to adoption and offering relief from rising petrol prices and high cost of ownership of ICE vehicles," the company said.
Ola has recently expanded its product portfolio with the launch of Gig and S1 Z scooter ranges.
With introductory prices starting at 

Ola Electric, OLA

There was a gap between budget allocations and actual spending on the Army's modernisation and infra in four of five years from FY20 to FY24, noted the Parliamentary Standing Committee on Defence

India-France Joint Training, army, indian army

Congress calls FIR against Rahul Gandhi over Parliament scuffle a 'badge of honour', alleging BJP's vendetta and diversionary tactics to counter his protest against Amit Shah's Ambedkar remarks

Rahul Gandhi, Rahul, congress leader

The I-T department probes Rs 7,500 crore spent on lavish weddings, targeting Jaipur planners and fake billing networks linked to foreign destination events and cash transactions

weddings, marriage

The latest Economic Survey said, India has to find the right balance between importing goods from China and importing capital (FDI) from China

How policymakers are split over attracting Chinese investment into India

The Banning of Unregulated Lending Activities Bill calls for the CBI to handle probes in cases spanning multiple states or UTs

The Centre, in collaboration with states, has proposed to classify unregulated lending as a cognizable and non-bailable offence, with penalties including imprisonment of up to 10 years. The finance ministry has invited feedback by February 13 from st

Siddhartha Mitra

Siddhartha Mitra

Siddhartha Mitra

Siddhartha Mitra: When politics trumps economics

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PM Modi heads home after wrapping up two-day 'successful' visit to Kuwait

Pak govt forms panel to negotiate with jailed ex-PM Imran Khan's party

Meghalaya sees 84 sq km decrease in forest cover between 2021-2023: ISFR

Condition critical, say doctors as farmer Dallewal's fast enters Day 27

Out of sync: Persistent mismatch between MGNREGA wage growth and inflation

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Losses of Himachal's 30 PSEs rose from Rs 3,953 cr to Rs 4,778 cr: CAG