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The Indian economy is on the mend but high crude oil prices are a source of concern according to the CEA

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The Indian economy is now prepared for recovery, according to Chief Economic Advisor (CEA) V Anantha Nageswaran, but the high crude oil price is a matter of concern.

He remarked at a Bharat Chamber of Commerce webinar that the country’s banking industry is solid, capital is plentiful, and credit demand is on the rise.

“We are not alone in experiencing uncertain growth and high inflation as a result of the pandemic. The same issue affects developed countries as well “he stated

Our budget for 2022-23 is based on crude oil prices of roughly $75 per barrel. The price of Texas crude has risen to USD 96 a barrel due to the tension between Russia and Ukraine. “How long this high. price will persist will determine its influence on the Indian economy,” said Nageswaran.

Inflation and the loss of purchasing power, he claims, is a global issue. This is related to increases in shipping costs, container expenses, and oil prices.

Inflation rates in India are now hovering at 5.2 percent. “However, I believe it should remain within the RBI’s target range of four to six percent in the coming fiscal,” he said.

According to the CEA, the Indian market has begun to correct. “In several industries, activity levels have surpassed pre-pandemic levels. The services sector, on the other hand, has yet to recover “.

He stated that the private sector investment environment has yet to perk up because of the ongoing pandemic cloud. When consumption levels rise, they will pick up.

“However, the budget’s capital spending projection for 2022-23 is higher. This was done to fill in the blanks. In reality, state capital expenditures have increased as well “Nageswaran expressed his thoughts.

In response to the budget’s lower allocation for MNREGA, he stated that it is a demand-driven program. “It was done in the hopes that the economy would improve and need for MNREGA money would decrease. However, if there is a demand for the program, monies will be made available “.

The CEA claims that the budget has buffers. “I expect the recovery to begin in the second part of the next fiscal year. The nominal GDP growth rate has been set at 11%. With four percent inflation, real GDP growth will be seven percent.” According to him, India’s GDP should be split 20:30:50 between agriculture, manufacturing, and services for the country to reach a five-trillion-dollar economy.

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MPSC Sets August 31 Deadline to Resolve Student Doubts on Online Examinations

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Commission plans complete clarity on score normalization and server security ahead of digital transition.

The Deadline

The Maharashtra Public Service Commission (MPSC) has established an August 31 deadline to address candidate concerns regarding the transition to online computer-based examinations.

The initiative follows a meeting at MPSC’s CBD Belapur office with student representatives, competitive exam tutors, and youth delegation leaders. Candidates raised critical queries regarding technical infrastructure, server security, and the score normalization formula used across multi-shift examinations.

MPSC officials assured representatives that the commission is taking a constructive approach to student feedback to ensure maximum transparency and fairness. Addressing concerns over scheduling, officials clarified that exam calendars are being structured carefully to prevent overlapping dates across different competitive tests.

To ensure technical integrity, MPSC aims to establish a fully robust, independent in-house digital examination framework by 2027. The commission reiterated that exams will not be outsourced to private contractors. Third-party agencies will only function as technology partners, while C-DAC performs comprehensive technical audits.

Officials affirmed that online examinations will only be conducted once all safety measures and technical readiness are fully achieved.

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NMMC Issues Public Advisory on Illegal Constructions Following High Court Directives

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Civic body intensifies citywide crackdown, orders mandatory hearings, and cautions prospective homebuyers.

Illegal Constructions

Following strict directives from the Bombay High Court in ongoing Public Interest Litigation (PIL) proceedings, the Navi Mumbai Municipal Corporation (NMMC) has issued a comprehensive public advisory against unauthorized constructions across the city.

A citywide survey conducted by the civic body identified 12,687 unauthorized or irregular constructions. Alarmingly, 4,946 of these structures were found to have been erected without any municipal building permissions.

In compliance with judicial orders, NMMC ward offices are conducting a minimum of 150 hearings per week (50 per day, three days weekly) to give property owners an opportunity to present their cases. While owners of eligible structures can apply for regularization through the town planning department, active demolition drives are already underway against non-compliant properties across municipal wards.

The municipal corporation warned that offenders will face legal prosecution under the Maharashtra Regional and Town Planning (MRTP) Act, with demolition costs directly recovered from property owners.

NMMC also issued a strong warning to prospective homebuyers, urging them to verify building permissions, Commencement Certificates (CC), and Occupation Certificates (OC) on the official civic portal before making any property purchases. The authority reiterated that unauthorized buildings will be denied municipal water and sewerage connections.

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Bombay High Court Restores Navi Mumbai Hotel License, Calls for Practical Enforcement

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Court sets aside FDA suspension of four-star hotel’s food license over minor infraction, orders statewide audit of government canteens.

The Food License

The Bombay High Court has set aside an order by the Food and Drug Administration (FDA) that suspended the food safety license of Park Inn by Radisson in Navi Mumbai. Directing authorities to adopt a “realistic approach,” the court ordered the immediate restoration of the hotel’s Food Safety and Standards Authority of India (FSSAI) license.

The FDA had suspended the four-star hotel’s license following a surprise inspection where officials reported hygiene lapses after spotting two insects in the kitchen area. However, a bench comprising Acting Chief Justice Ravindra Ghuge and Justice Gautam Ankhad observed that the hotel had maintained an overall compliance score of 95 percent on hygiene and food safety standards.

The court ruled that shutting down operations based on a single, minor finding was disproportionate. “We are in India. We have to take a realistic stand,” the bench remarked while quashing the suspension.

Addressing potential bias in regulatory actions, the High Court expanded the scope of the matter. It ordered the FDA to conduct comprehensive inspections of all government and semi-government eating establishments state-wide including canteens at the Mantralaya and the High Court and present status reports along with video documentation.

While FDA legal representatives denied selective enforcement noting that several public canteens and prominent Mumbai clubs have also faced action the court’s ruling sends a clear message on balancing regulatory enforcement with practical considerations.

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