Indian rupee

The government on Tuesday said it will borrow Rs 6.55 lakh crore in the second half of 2023-24 through dated securities, including Rs 20,000 crore through issuance of Sovereign Green Bonds (SGrBs).
The government meets its fiscal deficit mainly through market borrowings.
The government had projected gross market borrowing of Rs 15.43 lakh crore for 2023-24.
"...the Government of India has decided to borrow the balance amount of Rs 6.55 lakh crore (42.45 per cent of Rs 15.43 lakh crore) in the second half of the fiscal year 2023-24 through dated securities, including Rs 20,000 crore through issuance of Sovereign Green Bonds (SGrBs)," the finance ministry said in a statement.
"Responding to market demand for longer duration securities, 50-year security will be issued for the first time," it added.
The gross market borrowing of Rs 6.55 lakh crore will be completed through 20 weekly auctions. The market borrowing will be spread over 3, 5, 7, 10, 14, 30, 40 and 50-year securities.
The

Bond market

India aims to raise 15.43 trillion rupees ($187.18 billion) from the market in the financial year starting April 1, higher than the 14.21 trillion rupees it raised this year

Union Budget 2023-24: Marching ahead on a sustainable growth path

The biggest push came for the infrastructure sector, with a more than expected - i.e. 33 per cent - hike in capex that should boost private investment and spur employment generation

borrowing, money, debt, loan

The poll also suggested that the government would bring the budget deficit down to 6.0% of GDP in 2023/24. It aims to reach a target of 4.5% by 2025/26

illustration

The massive borrowing plan announced by the government in the FY23 Union Budget may get trimmed by Rs 63,500 crore.

microfinance institutions

The microfinance industry's gross loan portfolio (GLP) marginally declined by around 4 per cent to Rs 214,528 crore as of June 30 this year, against Rs 224,205 crore as of June 20, 2020

roads, contruction, nhai, highway, cars, transport

The total borrowing of National Highways Authority of India (NHAI) increased to Rs 3,06,704 crore in March 2021 from Rs 74,742 crore in March 2017, Parliament was informed on Monday.
Replying to a question in the Rajya Sabha, Road Transport and Highways Minister Nitin Gadkari said Since 2017, NHAI has availed external borrowing to the tune of Rs 3,000 crore.
The minister informed that the amount of interest paid by NHAI in 2020-21 was Rs 18,840 crore.
He also said that as of date, there are 140 arbitration cases pending before various arbitral tribunals, wherein an amount of Rs 91,875.70 crore of the contractors/ concessionaires claims and Rs 44,600 crore of NHAI's counterclaims is involved for adjudication.
Further, there are 240 cases pending before the courts wherein Rs 21,601 crore is involved, he added.
Replying to a separate question, Gadkari said the Centre has not notified green tax on older vehicles.
However, state/UT governments of Andhra Pradesh, Telangana, Karnataka, 

chart

The borrowings were further raised to Rs 12.80 trillion in RE as the government also tried to bring transparency in subsidies

savings, investment, tax, insurance, policy, Mutual fund, MF

From Centre allowing 100% rebate on PM-CARES fund, top 22 families losing Rs 22 trillion to vegetable markets coming back to life, Business Standard brings you top headlines of the day

Subhash Chandra Garg

The calendar released by the Reserve Bank of India (RBI) on its website showed that the weekly borrowing would be Rs 17,000 crore, less than the Rs 18,000 crore witnessed by the market in H2, FY19

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

To borrow Rs 6.55 trillion in second half

money, cash, rupees

His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm

Reliance Industries chairman Mukseh Ambani and Nita Ambani's children, left to right, Akash, Isha and Anant Ambani. PTI: Photo

Isha, Akash and Anant Ambani

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

Civil Aviation Minister Jyotiraditya Scindia on Sunday announced that three new air routes would be operationalised in Arunachal Pradesh by October this year.
Inaugurating the newly-developed infrastructure at the Tezu Airport in Lohit district of the northeastern state, Scindia said that under the Centre's UDAN-5 scheme, new flight services would begin between Itanagar and New Delhi from Donyi Polo Airport at Hollongi near here, besides a service between Itanagar and Jorhat in Assam and between Ruksin in East Siang district and Itanagar.
Ude Desh ka Aam Nagarik (UDAAN) is a regional connectivity scheme aimed at developing smaller regional airports to allow common citizens easier access to aviation services.
Tezu airport is the fourth in the state after Donyi Polo, Pasighat and Ziro airports and 17th in the northeast.
The minister said that in the last 65 years, there were only 74 airports in the country but in the last nine years of BJP government rule at the Centre, 75 new airpor

Airports, nearby areas may not get 5G network services anytime soon

Airlines, airport, aviation, flights

Thakur said that the Government of India is building 1000 Khelo India centres across the country and he will personally look at the progress of the centres

Union Minister Anurag Thakur

Price of Indian crude basket hits 14-month high of $93.5 on September 21

Crude oil

The Congress on Sunday alleged that the government has mismanaged the economy across all sectors and since it is "too inept" in fixing issues such as unemployment and price rise, it is distorting the data instead.
Congress general secretary Jairam Ramesh said now that the special session of Parliament is over, it is clear that the Modi government was trying to "distract and divert" the nation from some critical issues  "the Adani scam, the caste census and especially the rising unemployment, growing inequality and the economic distress".
In a statement, he said no matter how much the Modi government hides the data, the reality is that the vast majority of people are suffering.
He claimed that some of the facts reported last week are being "brushed under the carpet".
He said RBI's latest bulletin of September 2023 shows the "complete failure" of the Modi government to execute a recovery from the COVID-19 pandemic.
"Forty-three per cent of people were in the labour force in February

Congress, Congress manifesto

He will take over from Bhargav Dasgupta, who will be officiating his duties until the close of business hours on 30 November 2023

Srikant

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Will more regulators such as Trai follow suit?

services trade, service industry, employee

The nominations had 56 candidates from 20 countries in 14 categories. Alongside Indian actors Jim Sarbh, Shefali Shah and Vir Das have been nominated for the 2023 International Emmy Awards

Emmy Awards

Indian wushu player Rohit Jadhav finished a disappointing eight in men's Daoshu Final at the Asian Games here on Wednesday.
The 23-year-old Jadhav scored a total of 9.413, whereas Chinese Zhizhao Chang (9.826) and Chinese Taipei Chen Ming Wang (9.736) finished in the first and second spot, respectively.
In Daoshu, an athlete uses a sword as the main element of the routine and is judged on the basis of quality of movement, overall performance and degree of difficulty.
Jadhav will now participate in the Gunshu Final with the hope of winning a medal at the event.
In Gunshu, participants use a staff made of white wax wood.
Later in the day, India's Roshobina Devi will play Vietnam's Thi Thu Thuy Nguyen in the women's 60 kg semifinal.

Rohit Jadhav, Wushuplayer of India at the Asian Games 2023. Photo: SAI

Rohit Jadhav, Wushu

Indian football team head coach Igor Stimac has lauded senior players Sunil Chhetri and Sandesh Jhingan for "brilliantly" guiding the younger team-mates after the side qualified for the round of 16 in Asian Games despite a controversial build-up.
A rag-tag team with just Chhetri and Jhingan as notable names was assembled in the eleventh hour after the Indian Super League clubs refused to release their players named in the original squad.
The team reached Hangzhou just hours before the first group match was to be played. The team lost 1-5 to China after playing the match without a single training session. The strategy sessions were held in flight and on transit.
A 1-0 win over Bangladesh and a 1-1 draw against Myanmar took the team to knockouts as group runners-up, and they will face mighty Saudi Arabia in their round of 16 match on Thursday.
"We qualified for the knockouts round despite all the problems. I am very proud of the boys especially for Sunil and Sandesh. They led these .

Igor Stimac, India football team

Several entertaining movies are going to be released on OTT platforms this week, which are worth binge-watching. Here is the list of best OTT releases this week

Netflix

Indian swimmers continued to disappoint in the pool with none of them managing to qualify for the finals of their respective events at the Asian Games here on Wednesday.
Olympian Maana Patel finished fifth in heat 3 and 13th overall with a timing of 1:03.55s but failed to qualify for the final of women's 100m backstroke.
It turned out to be a disappointing outing for India's Nina Venkatesh as well as she finished fourth in her heat and 14th overall with a timing of 1:03.89s to crash out of the women's 100m butterfly.
The top eight swimmers progressed to the final.
Srihari Nataraj then clocked 1:49.05s to finish 10th in men's 200m freestyle heats. He has been kept as a second reserve for the final.
Competing in the women's 100m breaststroke, India's Lineysha also failed to progress to the medal round, touching the pad in the sixth position with a timing of
1:15.60s in her heat.

gross borrowing

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