Budget 2018-19

  The government on Monday announced a Rs 18,000 crore scheme to augment public transport in urban areas Budget 2021 updates: Finance Minister Nirmala Sitharaman is presenting her third Union Budget in Parliament. Sitharaman said the Budget for 2021-22 rests on six pillars – from healthcare to infrastructure. The finance minister has also announced a total spend of around Rs 2 trillion on healthcare and mega national highway projects in election-bound states of Tamil Nadu, West Bengal, Assam and Kerala. The Budget speech is being keenly watched by both domestic and foreign investors, various interest groups like farmers, anxious middle class and corporate entities, besides parliamentarians. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday, the government tabled the Economic Sur...

  Budget 2021 LIVE: Finance Minister Nirmala Sitharaman is presenting Union Budget 2021-22 in the Parliament. Follow Business Standard for LIVE updates Budget 2021 LIVE updates: Finance Minister Nirmala Sitharaman is presenting her third Union Budget in Parliament. Sitharaman said the Budget for 2021-22 rests on six pillars – from healthcare to infrastructure. The finance minister has also announced a total spend of around Rs 2 trillion on healthcare and mega national highway projects in election-bound states of Tamil Nadu, West Bengal, Assam and Kerala. The Budget speech is being keenly watched by both domestic and foreign investors, various interest groups like farmers, anxious middle class and corporate entities, besides parliamentarians. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as economic activity came to a standstill due to the pandemic-induced lockdown.  However , the economy is now in a recov...

  “The Secretary and the High Representative also agreed to continue strong US-EU cooperation on issues related to China,” the statement said. US Secretary of State Antony Blinken and EU High Representative for Foreign Affairs and Security Policy Josep Borrell discussed ways to further US-EU bilateral ties and agreed to continue ‘strong cooperation’ on issues related to China. “Secretary of State Antony J. Blinken spoke with EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission Josep Borrell today to discuss ways to repair, revitalize, and raise the level of ambition in the US-EU relationship,” the State Department said in a statement. “The Secretary and the High Representative also agreed to continue strong US-EU cooperation on issues related to China,” the statement said. Blinken thanked Borrel for the European Union’s leadership in various areas in recent years and emphasized the United States’ desire to work with the bloc a...

  In a quarterly earnings call with analysts on Wednesday, Zuckerberg said that the company has moved the date of this update back to give everyone time to understand what the update means. Facebook CEO Mark Zuckerberg has defended the upcoming WhatsApp privacy policy that has witnessed a massive backlash in India, saying that the update does not change the privacy of anyone’s messages with friends and family. The WhatsApp policy has now been put on hold till May 15. It aims to share commercial user data with parent Facebook. The Indian government has also written a letter to WhatsApp CEO Will Cathcart to withdraw the policy. In a quarterly earnings call with analysts on Wednesday, Zuckerberg said that the company has moved the date of this update back to give everyone time to understand what the update means. “All of these messages are end-to-end encrypted, which means we can’t see or hear what you say and we never will, unless the person that you message chooses to share it and b...

  BUDGET SESSION 2021  UPDATES: Finance Minister Nirmala Sitharaman will present the Economic Survey today. Stay tuned for LIVE updates on Budget session of the Parliament BUDGET SESSION 2021 LIVE UPDATES: The Budget Session of Parliament begins today, two days before the Union Budget 2021-22 is presented. Union Finance Minister Nirmala Sitharaman will table the Economic Survey 2020-21 in Parliament today, which provides a summary of the annual economic development across the country during the financial year. With the ongoing farmers’ protest, this year’s Budget session is expected to be a stormy one. The Budget session will begin with President Ram Nath Kovind addressing a joint session of Parliament. However, as many as 18 Opposition parties have announced that they will boycott the President’s address in solidarity with farmers protesting against the three Union laws. Announcing the decision, Ghulam Nabi Azad, leader of Opposition in Rajya Sabha, said the 16 parties also d...

  A combination of stepped-up social spending – including on long-neglected healthcare – and a state-led infrastructure push will make the recovery both durable and inclusive Union Budget 2021:  India’s federal budget Monday will be a much tougher balancing act than New Delhi’s regular annual fiscal trapeze. For one thing, the pandemic has upset business-as-usual calculations of how much to spend, on what, and how to finance it. For another, an impatience to make up for lost time has to be weighed against a shrinking of policy space in emerging markets: A reprise of the 2013 global taper tantrum could compound the country’s considerable domestic challenges. On the first question — how much to spend — Finance Minister Nirmala Sitharaman must simply do a lot more. Even with some loosening of the purse strings in the final months of the fiscal year that will end in March, Moody’s Investors Service affiliate ICRA Ltd. expects annual government expenditure to have been broadly unch...

  The country of 1.3 billion people, only 20 per cent of whom know how to use the internet, had to suspend field surveys during the lockdown, which led to gaps in reporting monthly retail inflation numb India is turning from man to machines to improve the quality and speed of its economic data, which has been criticized as inadequate, delayed or even confusing due to sharp and unexpected revisions. The Ministry of Statistics is ramping up use of  artificial intelligence  for collecting, analyzing and reporting data to better monitor the economy. The measures include a $60 million program with World Bank help using an information portal that collates real-time data. “Because of the changing landscape, there’s a growing need for more and more data, faster data and also more refined data products,” Statistics Secretary Kshatrapati Shivaji said in an interview. With end-to-end computerization, “this type of automation will enhance the quality, credibility and timeliness of da...

  Police book Tikait, many other farmer leaders Farmers Protest:  A day after the tractor parade to Delhi spiralled into chaos and violence, farmer unions on Wednesday cancelled their planned foot march to Parliament on February 1 when the Budget would be presented in the House. Farmers protesting the new farm laws would instead hold public meetings and a hunger strike on January 30, on Mahatma Gandhi’s death anniversary. The Delhi police, on the other hand, have booked farmer leader Rakesh Tikait and 36 others, and also detained around 200 people in connection with incidents of violence and vandalism in various parts of Delhi, including at Red Fort. They have also filed 25 FIRs naming activists Yogendra Yadav, Darshan Pal, Gurnam Singh Chaduni, and others. FIRs were filed under various sections of the IPC, including 147, 148 (related to rioting), 307 (attempt to murder) and 120B (punishment of criminal conspiracy). Two farmer unions — the Bharatiya Kisan Union (Bhanu) and the...

  The path of the economy continues to depend significantly on the course of the virus International News:  The US Federal Reserve has kept its benchmark interest rate unchanged at the record-low level of near zero, as the country grapples with slowing economic recovery amid surging Covid-19 cases. “The path of the economy continues to depend significantly on the course of the virus,” Fed Chairman Jerome Powell said at a virtual press conference on Wednesday. “A resurgence in recent months of Covid-19 cases, hospitalizations and deaths is causing great hardship for millions of Americans and weighing on economic activity and job creation.” The Fed chief noted that following a sharp rebound in economic activity last summer, the pace of the recovery has “moderated” in recent months, with the weakness concentrated in the sectors most adversely affected by the resurgence of the virus and greater social distancing, reports Xinhua news agency. “The economy is a long way from our empl...

  Andaman and Nicobar Islands did not record a single fresh COVID-19 case in the last two days Andaman and Nicobar Islands did not record a single fresh COVID-19 case in the last two days, a health department official said on Thursday. The coronavirus tally in the Union Territory remained at 4,994, while 62 people have so far died due to the contagion, he said. “No fresh COVID-19 case was reported for the second day in a row on Wednesday,” the official said. Five people were cured of the disease in the last 24 hours, taking the total number of recoveries in the archipelago to 4,922, the official said. Altogether, 2,454 health workers have so far received the shots of COVID-19 vaccine in Andaman and Nicobar Islands. The Union Territory now has 10 active cases. The overall  COVID  19  situation is under control in the archipelago as the local administration has been strict to ensure that health safety protocols are followed to contain the spread of the disease, he said...

  he FBI says 34-year-old Miller allegedly called for the assassination of Democratic U.S. Rep. Alexandria Ocasio-Cortez of New York A Texas man accused of taking part in the attack on the U.S. Capitol earlier this month while wearing a shirt with a message that stood for murder the media was arrested Tuesday, the FBI said. Nicholas DeCarlo, 30, was charged with obstructing an official proceeding, entering a restricted building and parading or demonstrating on Capitol grounds, according to a criminal complaint. Investigators say DeCarlo, of Burleson, Texas, was seen in photos smoking a cigarette inside the Capitol on January 6. He also claimed to work for MT Media News, which stands for Murder the Media News. In some photos of  U.S Capitol   Attack , DeCarlo was seen with Nicholas Ochs, one of the founders of Hawaii’s chapter of the Proud Boys, neofascist group. The pair was also seen in a photo standing in front of a door inside the Capitol that had the words MURDER THE ...

  Passengers permitted by the Ministry of Railways and Government of Maharashtra are only allowed to travel by the suburban trains Mumbai Local Train:  Western Railway and Central Railway have decided to start all suburban services by increasing the existing 2,781 services to 2,985 services on Mumbai Suburban network with effect from January 29. Central Railway has decided to increase the suburban services from the existing 1,580 to 1,685 services and Western Railway has decided to increase the existing 1,201 suburban services to 1,300 services with effect from January 29, the CPRO of both zones informed the press. Passengers permitted by the Ministry of Railways and Government of Maharashtra are only allowed to travel by the suburban trains. Others have been requested not to rush to the railway stations. Passengers have been advised to adhere to all norms, Standard Operating Procedures (SOPs) related to COVID-19 during the boarding, travel and at the destination…

  Farmers’ protest descended into chaos as they used tractors to pull apart barricades, prompting the police to lathi-charge and fire tear gas. Punjab and Haryana on high alert The farmer groups, protesting along Delhi’s borders against the three farm laws, have adopted a wait-and-watch stand on the violent protests inside the Capital on Republic Day, saying they will dwell into the events once the full picture emerges. However, most farmer leaders condemned the violence and blamed it on miscreants present among the protesters. Some said a stand will be taken once all the leaders come back from their sites and discuss the development. farmers’ protests, police, tear gasA police person fires tear-gas as farmers break barricades near Akshardham Ashish Mittal, general secretary of the All India Kisan Mazdoor Sabha (AIKMS), one of the groups participating in the protest, said, “The route given for the tractor parade was hardly touching Delhi, and therefore, unacceptable to many of us. ...

  Expects economy to grow 11.5% next year, which could slightly correct govt’s fiscal mathematics The International Monetary Fund (IMF) has pegged contraction in India’s economy at eight per cent in the current financial year, higher than 7.7 per cent projected by the official advance estimates. However, it expected the growth to rise to 11.5 per cent in the next financial year before slowing down to 6.8 per cent, helping the economy regain its tag of the fastest growing large economy in the world in both the years. ALSO READ:  Mahindra, Reliance commit to WEF’s Stakeholder Capitalism Metrics In the World Economic Outlook released on Tuesday, IMF said the second quarter GDP numbers for India surprised it on the upside. India’s economy declined by 7.5 per cent in the quarter, while most experts had expected it to be in the double digits. The Fund was also surprised on the upside by the growth numbers for Australia, Euro Area, Japan, South Korea, New Zealand, Turkey and the Unit...

  Total revenue was 58.2 billion riyals ($15.5 billion), down from 80.8 billion riyals a year earlier, according to a statement from the General Authority for Statistics Saudi Arabia’s exports fell by more than a quarter in November compared with a year ago, driven by another drop in oil demand. Total revenue was 58.2 billion riyals ($15.5 billion), down from 80.8 billion riyals a year earlier, according to a statement from the General Authority for Statistics. Oil exports fell 39.8 per cent during the month. Meanwhile, Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude. OPEC’s second-biggest producer will pump around 3.6 million barrels daily for the two months, according to Ali Nizar, the deputy head of SOMO. That would be the lowest level since 2015 and compares with around 3.85 million in December, according to data compiled by Bloomberg. Exports, including those...

  Biden is reversing an order from President Donald Trump in his final days in office that called for the relaxation of the travel restrictions as of Tuesday President Joe Biden on Monday will formally reinstate COVID-19 travel restrictions on non-US travelers from Brazil, Ireland, the United Kingdom and 26 other European countries that allow travel across open borders, according to two White House officials. The officials, who spoke on the condition of anonymity to discuss the order, also confirmed Sunday that South Africa would be added to the restricted list because of concerns about a variant of the virus that has spread beyond that nation. Biden is reversing an order from President  Donald Trump  in his final days in office that called for the relaxation of the travel restrictions as of Tuesday. The decision to reverse the order is not surprising, but the addition of South Africa to the restricted travel list highlights the new administration’s concern about mutation...

  The Therapeutic Goods Administration on Monday gave provisional approval for people aged 16 and over to use the vaccine developed by Pfizer and BioNTech Australia’s medical regulator has approved use of its first coronavirus vaccine, paving the way for inoculations to begin next month. The Therapeutic Goods Administration on Monday gave provisional approval for people aged 16 and over to use the vaccine developed by Pfizer and BioNTech. The regulator said priority would be given to groups that include aged-care residents and workers, frontline healthcare workers, and quarantine workers. Australian Prime Minister Scott Morrison welcomed the development. He said Australia was among the first countries to complete a comprehensive and thorough process to formally approve a vaccine rather than just grant an emergency approval. Australia is aiming to complete inoculations by October. The nation of 26 million people has reported fewer than 30,000 virus cases and a little over 900 deaths...

  The National Voters’ Day has been celebrated on January 25 every year since 2011, all across the country to mark the foundation day of the EC on 25th January 1950 The Election Commission of India (ECI) has made striking contributions towards strengthening our democracy by ensuring smooth conduct of elections, said Prime Minister Narendra Modi on the occasion of 11th National Voters Day. “National Voters Day is an occasion to appreciate the remarkable contribution of the EC to strengthen our democratic fabric and ensure smooth conduct of elections. This is also a day to spread awareness on the need of ensuring voter registration, particularly among the youth,” tweeted PM Modi on Monday. The theme for this year’s National Voters Day celebrations is ‘Making Our Voters Empowered, Vigilant, Safe and Informed’. It envisages active and participative voters during elections. It also focuses on EC’s commitment towards conducting elections safely during the COVID-19 pandemic. The National ...

  According to reports, Modi is likely to take the vaccine in the second phase when it is the turn of front-line workers to get the shot India reached the 1-million mark in Covid vaccinations within six days of the exercise as the government stepped up measures to encourage people to take the jab and tackle vaccine hesitancy — from updating the CoWIN application to roping in health experts with vaccine safety messages. Sources said the government may also sign up celebrities to drive home the message of vaccine safety. Prime Minister Narendra Modi will also interact with the beneficiaries and vaccinators in Varanasi on Friday via videoconference to share their first-hand experience. According to reports, Modi is likely to take the vaccine in the second phase when it is the turn of front-line workers to get the shot. CMs and MPs over 50 years of age could also be added to this list. Among adverse events, one hospitalisation was reported in Udaipur in Rajasthan where a health worker ...

  Prime Minister Narendra Modi expressed anguish over the incident Five people were killed on Thursday in a major fire that broke out in a Serum Institute of India factory, but the world’s largest vaccine maker said the incident would not affect the production of Covid-19 vaccine even as new launches may be hit. Sparks from welding work being carried out in the under-installation factory in Pune had triggered the fire that destroyed some floors of the building, local authorities said. Maharashtra Health Minister Rajesh Tope said an investigation and a fire audit will be done. Prime Minister Narendra Modi expressed anguish over the incident. “In this sad hour, my thoughts are with the families of those who lost their lives. I pray that those injured recover at the earliest,” he tweeted. Serum Chief Executive Officer Adar Poonawalla offered condolences over the loss of lives. “I would like to reassure all governments & the public that there would be no loss of  #Covishield ...

  President Joe Biden is popular across much of the world and expected to provide greater U.S. leadership on issues such as fighting Covid, terrorism and climate change, a new multi-nation survey shows President Joe Biden is popular across much of the world and expected to provide greater US leadership on issues such as fighting Covid-19, terrorism and climate change, a new multi-nation survey shows. But trust is low both in the US as a nation and Biden’s ability to deliver. “We wanted to know: If there is a change of administration and if the US is ready to lead again, will anyone follow?” said Michael Broening, Executive Director of the New York office of the Friedrich-Ebert-Stiftung, the German think tank that commissioned the survey. The answer from the survey’s 12,400 respondents in Brazil, France, Germany, Japan, Kenya, India, Indonesia, Mexico, Russia, South Africa, Turkey and the US itself: ‘Yes, but’. “Whatever was here in terms of US trust has really dissipated a lot,” sa...

  Hawley and Cruz led objections in the Senate to Biden”s victory, despite the widespread recognition that the effort would fail Seven Democratic senators have asked the Senate Ethics Committee to investigate the actions of Republican senators Ted Cruz and Josh Hawley to fully understand their role in the January 6 insurrection at the Capitol by supporters of former President Donald Trump. Thousands had gathered that day as Congress voted to formally certify President Joe Biden’s victory over Trump in November. Hawley and Cruz led objections in the Senate to Biden’s victory, despite the widespread recognition that the effort would fail. In the end, Congress certified Biden’s Electoral College victory, but not before thousands marched to the Capitol at Trump’s urging, overwhelmed security and interrupted the proceedings. In the end, the violence led to five deaths, injured dozens of police officers and caused extensive damage to the  US Capitol . The Democratic senators said th...

  Much about the future of China’s most famous businessman remains unclear He appeared for less than a minute and said nothing about the Chinese government clampdown that had left his business empire in crisis. But for investors who’d been waiting months to catch a glimpse of Jack Ma, the entrepreneur’s participation in a live-streamed video conference on Wednesday was enough to trigger a $58 billion sigh of relief. That’s how much Alibaba Group Holding’s market value soared after a clip of Ma speaking to a group of teachers began circulating online — his first public comments since disappearing from view late last year. Much about the future of China’s most famous businessman remains unclear. Yet analysts said Wednesday’s video was a sign that worst-case scenarios — such as jail time for Ma or a government takeover of his companies –- are probably now off the table. It’s unlikely Ma would have participated in the event without at least tacit approval from Beijing; state-run media ...

  At least two scenes were removed from the controversial web series Tandav, which found itself in more trouble on Wednesday with fresh FIRs against its makers and cast in Madhya Pradesh and Maharashtra. At least two scenes were removed from the controversial web series Tandav, which found itself in more trouble on Wednesday with fresh FIRs against its makers and cast in Madhya Pradesh and Maharashtra. In a sliver of hope, the Bombay High Court granted transit pre-arrest bail to director Ali Abbas Zafar,  Amazon Prime  India head Aparna Purohit, producer Himanshu Mehra and the show’s writer Gaurav Solanki. The relief was granted for three weeks to enable them to approach the concerned court in Lucknow, where an FIR has been registered against them for allegedly hurting religious sentiments. A scene of a play and a conversation between two key characters were snipped from the show’s first episode Tanashah, a day after the cast and crew of the nine-part starry political sag...

  The world’s largest online retailer has an agreement with a healthcare provider to administer vaccines at its facilities, Dave Clark, chief executive of Amazon’s worldwide consumer business said Amazon.com Inc on Wednesday offered to help with the United States’ efforts involving the Covid-19 vaccine, according to a letter addressed to President Joe Biden, seen by Reuters. The world’s largest online retailer has an agreement with a healthcare provider to administer vaccines at its facilities, Dave Clark, chief executive of Amazon’s worldwide consumer business, said in the letter. He added, “We are prepared to leverage our operations, information technology, and communications capabilities and expertise to assist your administration’s vaccination efforts.”..

  The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August Market regulator SEBI gave a go-ahead on Wednesday to Future Group’s scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its “no adverse observation” report to the Rs 24,713-crore deal. The Securities and Exchange Board of India (SEBI) allowed the deal with some riders, five months after it was announced last August. ALSO READ:  Delhi HC rules Amazon’s attempt to control Future violative of FEMA FDI The SEBI has said the litigation pending before the Delhi High Court and arbitration proceedings by the global e-commerce major Amazon contesting the deal should be specifically mentioned by Future Group while seeking shareholders or the National Company Law Tribunal approval, the BSE stated in its observation letter. It has also held that SEBI’s go-ahead on the draft scheme of arrangement would...

  The Republican former Indiana governor and his wife Karen are expected to attend Biden”s inauguration and will then fly into the Columbus Municipal Airport Vice President Mike Pence will be returning to his southern Indiana hometown Wednesday afternoon following the inauguration of President-elect Joe Biden. The Republican former Indiana governor and his wife Karen are expected to attend  joe Biden ‘s inauguration and will then fly into the Columbus Municipal Airport, where they will be greeted by some supporters, the Indiana Republican Party said Tuesday. That group of about 50 people is expected to include Pence’s brother, U.S. Rep. Greg Pence, and some state lawmakers, said Barbara Hackman, the Bartholomew County Republican chairwoman. Pence grew up in Columbus and some family members still live there. But Pence hasn’t owned an Indiana home for at least the past eight years, during which time he lived in the Indiana governor’s residence in Indianapolis and then at the vic...