Economy

22 Sep

BSNL officer caught napping in meeting, Telecom Minister forced to take VRS

Priyanka BhowmickBusiness, Economyindia

A senior BSNL official fell asleep in a meeting with Telecom Minister Ashwani Vaishnab after the cabinet approved a Rs 1.64 lakh crore package for the public sector enterprise. After this incident, he has taken voluntary retirement from service, as per the official source.At the pan-India Chief General Manager (CGM) level meeting in the first week of August, the minister sternly asked BSNL employees to perform and turn around the loss- and debt-ridden telecom company within 24 months with their best efforts. Opt for Voluntary Retirement Scheme (VRS). According to the report, In the meeting, the minister had caught a…

11 Aug

Economy losing money, freebies distribution a ‘serious issue’ Says, Supreme Court

editorEconomy, PoliticalSupreme court

The Supreme Court on Thursday found that the promise and distribution of freebies by political parties during all ballot seasons is "a serious problem" as the financial system is losing money due to it, Bar and Bench reported. The apex court was once hearing a PIL filed by lawyer Ashwini Upadhyay, in search of a ban on political parties promising ‘freebies’ to lure voters in the run-up to elections. The plea asked for steps to be taken to adjust the ballot manifesto and make political events responsible for guarantees made therein. “Nobody says it's not a problem anymore. This is…

01 Aug

We are still fastest growing economy: Nirmala Sitharaman on price rise debate in Parliament

editorEconomy, IndiaNirmala Sitharaman

India’s economy is higher than most of the nations and it is one of the quickest developing economies, Finance Minister Nirmala Sitharaman stated in her address to Lok Sabha on Monday. The finance minister said, “There’s no question of India getting into recession or stagflation. Zero chances of recession in India as per Bloomberg survey,”. FM Sitharaman said, “It was clearly a dialogue on political subject matter instead than data-driven discussion. Around 30 MPs talked about price rise today. Most raised political angles as an alternative than data-driven concerns,”. After weeks of disruption in Parliament overcharge price rise issue, Union…

10 Jul

Sri Lanka Economic crisis: As Gotabaya flees, protesters swim in Presidential pool, flex at his gym

editorEconomy, internationalsri lanka crisis

As the financial disaster in Sri Lanka escalates, hundreds of protestors on Saturday stormed the presidential palace in Colombo and made themselves home, enjoying the luxuries reserved for the President and his family. The protesters had been considered taking dips in the swimming pool, working out at the presidential gym, and gorging on the meals in the President’s kitchen. Sri Lankan President Gotabaya Rajapaksa, meanwhile, was once compelled to flee amid the escalating violence and demand for his resignation. It was once the country’s most chaotic day in months of political turmoil, Sri Lanka’s president and high minister agreed to…

31 May

India wants economic prosperity, not ‘racial purity’: Rahul Gandhi’s dig at PM Modi govt

editorEconomy, PoliticalPM Modi, rahul gandhi

Top Congress leader Rahul Gandhi on Tuesday slammed the said attempt to conduct a study on ethnic purity, declaring that what the country wants is job security and economic prosperity and no more 'ethnic purity'. Rahul was reacting to a news document which claimed that the Ministry of Culture was "in the process of acquiring an array of DNA profiling kits and related modern-day machines to establish genetic history and indicate the purity of races in India"."Last time a country had a subculture ministry studying 'Ethnic Purity', it didn't stop well. India needs job security and economic prosperity, not PM,…

19 Apr

Biggest risk of cryptocurrency could be money laundering, its use for financing terror: Nirmala Sitharaman

editorEconomyNirmala Sitharaman

Amidst the pioneering fintech revolution, the biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Minister of Finance Nirmala Sitharaman. In her address at a seminar during the ongoing spring meet of the International Monetary Fund, Sitharaman said: “I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror.” Regulation using technology will have to be so adept, that it has to be not behind the curve, but be sure that it is on the top…

27 Mar

Let’s Make Local “Global”, Raise Prestige Of Indian Products: PM Modi

editorEconomyPM Modi

Prime Minister Narendra Modi on Sunday said that India's export target of US$ 400 billion this fiscal year indicates that demand for its gadgets is increasing across the world and stressed that when every Indian adopts a 'voice for the local', it does not take one. A whole lot of time for "local ends global". In his month-to-month Man Ki Baat radio broadcast, Modi also mentioned that the authorities purchased items worth over Rs 1 lakh crore through the government e-market closed to 1.25 lakh small entrepreneurs and shopkeepers in the last one year. Immediately sold their products to the…

26 Mar

Delhi Budget: 20 Lakh Jobs, Better Healthcare Among Top Announcements of Rozgaar Budget

editorEconomyDelhi

Delhi Deputy Chief Minister Manish Sisodia a “Rozgar Budget” in the Assembly on Saturday with an outlay of Rs 75,800 crore for the financial year 2022-23, focussing on developing 20 lakh jobs in 5 years by way of placing up an digital metropolis and advertising night time economy, retail and wholesale markets in the national capital. The budget measurement for the subsequent financial yr is 9.86 per cent higher than that of the previous year — Rs 69,000 crore — Sisodia said, including that Delhi’s financial system is convalescing regularly from the impact of COVID-19. “The Rozgar Budget will take…

23 Mar

As India achieves target of $400 billion from exports, PM Narendra Modi congratulates farmers, MSMEs and weavers

editorEconomyPrime Minister Narendra Modi

History has been scripted, as India finished its highest ever items export target of USD four hundred billion 9 days in advance of schedule, said Prime Minister Narendra Modi on Wednesday. He similarly stated that this is a key milestone in our Aatmanirbhar Bharat journey. "India achieves the target of four hundred Billion bucks of items exports for the first time ever. I congratulate our farmers, weavers, MSMEs, manufacturers, exporters for this success. This is a key milestone in our Aatmanirbhar Bharat journey. #LocalGoesGlobal," said PM Modi in a tweet. On average, every hour USD 46 million goods are exported,…

23 Feb

Rajasthan govt gives Budget 2022-23 exceptional spotlight on work, wellbeing, schooling

editorEconomy

All Rajasthan Govt personnel appointed on or after 1st January 2004 will be entitled to pension scheme like formerly (older model of the scheme) from next yr onward, Rajasthan Chief Minister Ashok Gehlot on Wednesday presenting the Budget for the 12 months 2022-23 said. Presenting the Budget in the Rajasthan Assembly, Gehlot introduced the implementation of the Indira Gandhi Urban Employment Guarantee Scheme. From next year, a hundred days of employment will be accessible in urban areas on the lines of Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for which a Rs 800 crore price range has been proposed.…