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The interest rate for SCSS was increased to 8.2% from 8%, and that of the monthly income scheme was increased to 7.4% from 7.1%

Small savings schemes

While govt's market borrowings have doubled from FY16 to FY22, NSSF loans to finance fiscal deficit have grown 11x

Illustration

More clarity on Customs duty changes could have made the Budget more transparent

agriculture

Budget 2022: Subsidies have been a bugbear of the Indian economy for long

Food subsidy, ration shops, Public distribution system, PDS, food grains, poor, poverty, welfare schemes

The Centre's plan to start FY22 on a clean slate seems to have gone for a toss within just six months after it cleared the food subsidy backlog and paid its pending liabilities to NSSF

investment,saving, money, retirement, rupee

In 2017-18, West Bengal accounted for 15 per cent of the total contributions made to the NSSF; its share increased from 12.4 per cent in 2007-08

Fiscal deficit, debt

Costlier loans from NSSF, at 7.4% interest rate, will occupy more than 10% share in govt's outstanding public debt soon, all to give the small saver a higher interest rate than the market

Godown, food grain, FCI, coronavirus

If clearing of FCI's outstanding dues and loans does not spur further reforms, they will once again reach current levels in the next 4-5 years, say experts

gst, good and services tax

The Centre said a special window can be provided to the states, in consultation with the RBI, for borrowing at a reasonable interest rate

How a potential fiscal deficit of 4.65% of GDP was brought down in the 2019-20 revised estimates

National Small Savings Fund, Food Corporation of India, FCI, NHAI, National Highways Authority of India,financial year ,Indian Railways Finance Corporation, Pradhan Mantri Awas Yojana,NSSF investments, Budget , governmet budget, budget 2018, IRFC,PMA

Fund to explore providing loans to railways, urban housing scheme

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Sensex, Nifty, stock brokers

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

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

Apple iPhone

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

Analysts at Jefferies, believe that the time is ripe to buy Eicher Motors given alleviating competitive concerns, along with tailwinds of 2W demand recovery, industry premiumization and exports.

Eicher Motors, motorcycle ,Royal Enfield, Royal Enfield bikes,

According to officials, the passengers on board included 24 girl students from Swami Vivekananda Government Model School in Detani and four others, including the school principal and three teachers

accident

This endeavour marks a step in expanding connectivity in the northeastern region of India and bolstering the local economy, the Ministry of Civil Aviation said in a statement earlier

Jyotiraditya Scindia

As Vietnam is largely becoming an emerging tourism destination for Indian travellers, Vietjet, the country's largest private carrier, is getting ready to tap this growing interest by expanding its service to India connecting more cities.
A new route connecting Tiruchirappalli (Tamil Nadu) and Ho Chi Minh City is expected to be launched this November, airline authorities said here.
Direct flight services from Kerala's Kochi to Ho Chi Minh City had already been launched by the private carrier from Cochin International Airport in August.
A senior airline official said here that Vietjet currently has 32 return flights servicing India each week.
"From November, Vietjet is expected to launch a new route connecting Tiruchirappalli and Ho Chi Minh City and we have plans to have an initial frequency of three return flights per week, in order to meet rising demand from travellers in both countries," the official, who doesn't want to be named, said.
Vietjet would like to eventually expand it

VietJet

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41

HDFC Bank

In a move to fuel growth through self-employment, Assam Chief Minister Himanta Biswa Sarma has launched a scheme to help youths set up their own ventures.
At a function here, Sarma rolled out the Chief Minister's Atmanirbhar Asom Abhijan 2023. He also launched a registration portal for the scheme.
Under the programme, financial aid will be given to two lakh youths for creating a robust entrepreneurial ecosystem, he added.
Speaking on the occasion on Saturday, Sarma said, "The scheme has been designed to create self-employment avenues to enable the youths to fuel development of the state. It has the potential to strengthen rural economy."
He said that the unemployed degree holders in the fields of engineering, medicine, agriculture, animal husbandry and fishery will be kept in the first category and will be given Rs 5 lakh.
"On the other hand, unemployed postgraduates, general graduates, ITI, polytechnic passouts will be kept in the second category for government assistance of Rs 2

Guwahati: Assam Chief Minister Himanta Biswa Sarma speaks during a press conference organised to commemorate the completion of 8 years of Prime Minister Narendra Modi's BJP-led government at the centre, at BJP state office in Guwahati, Wednesday, Jun

Himanta Biswa Sarma

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

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

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

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

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S Jaishankar, EAM S Jaishankar

The company's revenue from operations in FY23, Agarwal added, stood at approximately Rs 5,463 crore in FY23 up from Rs 4,781 crore in FY22, marking a 14 per cent increase

Relations between India and China have been in an "abnormal state" since the 2020 Galwan clash and it is a "possibly longer than medium-term issue", External Affairs Minister S Jaishankar said here.
If the two biggest countries of the world have that degree of tension between them, "it has consequences for everybody else", he asserted during a conversation at the Council on Foreign Relations to a question about India-China relations.
"You know, one of the pleasures of dealing with China is that they never quite tell you why they do things. So you often end up trying to figure it out. And it's always, there's certain ambiguity out there," Jaishankar said.
"It is very hard to try to be normal with a country which has broken agreements and which has done what it has done. So if you look at the last three years, it's a very abnormal state," the minister added.
"Contacts have been disrupted, visits are not taking place. We have of course this high level of military tension. It has also 

External Affairs Minister (EAM) Dr S Jaishankar

External Affairs Minister S Jaishankar has said efforts are on in Manipur by the state and the central governments to find a way by which a sense of normalcy returns and there is adequate law-and-order enforcement.
"...I think one part of the problem in Manipur has been the destabilising impact of migrants who have come," he said Tuesday at the Council on Foreign Relations in response to a question on the situation in the northeastern state in India.
"But there are also tensions which obviously have a long history which precede that. And today, I think the effort is on the part of the state government and the Union government to find a way by which a sense of normalcy returns, that arms which were seized during that period are recovered, that there is an adequate law-and-order enforcement out there so that incidents of violence don't happen," the minister said.
Earlier this month, a group of United Nations experts said they are "appalled" by reports and images of violence in Manipur

US regulators and 17 states are suing Amazon over allegations the e-commerce behemoth abuses its position in the marketplace to inflate prices on and off its platform, overcharge sellers and stifle competition.
The lawsuit, filed Tuesday in federal court in Amazon's home state of Washington, is the result of a years-long investigation into the company's businesses and one of the most significant legal challenges brought against it in its nearly 30-year history.
The Federal Trade Commission and states that joined the lawsuit allege Amazon is violating federal and state antitrust laws. They are asking the court to issue a permanent injunction that they say would prohibit Amazon from engaging in its unlawful conduct and loosen its monopolistic control to restore competition.
The complaint accuses the company of engaging in anti-competitive practices through measures that deter sellers from offering lower prices for products on non-Amazon sites, an argument mirroring allegations made in

NSSF

Senior citizens scheme sees investment of over Rs 10,000 crore in April

Once low-profile NSSF now a key player in Centre's finances for past 7 yrs

Different strokes in transparency

Budget 2022: Steep subsidy sums for food and fertiliser likely

Second Covid wave, global prices could derail Centre's FY22 subsidy maths

Rate reversal: West Bengal contributes most to National Small Saving Fund

How NSSF could morph from a rainy-day fund into a huge burden for the govt

Can FCI's subsidy wipe-out serve as a base for deeper food subsidy reforms?

States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI

Risks of revised estimates

National Small Savings Fund to invest more in public agencies than govt