Govt defends GDP numbers after ex-CEA Arvind Subramanian alleges overestimation
Government has debunked claims by former Chief Economic Advisor Arvind Subramanian that India's GDP growth estimate has been exaggerated by 2.5 per cent. The Ministry of Statistics and Policy Implementation argued that due procedure has been followed in calculating the GDP estimates. In his recent research paper published at Harvard University, Subramanian had pegged actual GDP growth of India at around 4.5 per cent, as against the official estimates of nearly 7 per cent growth.
Patanjali's global ambitions hobbled by missteps; sales plunge for 2 consecutive years
Three years ago, Indian yoga guru and entrepreneur Baba Ramdev was riding high. But Patanjali's sales plunged 10% to 81 billion rupees (Rs 8,100 crore), according to its annual financial report. And in the last fiscal year, it likely deteriorated further, say company sources and analysts. According to interviews with current and former employees, suppliers, distributors, store managers, and consumers, Patanjali's ambitions have been hobbled by missteps.
Govt seeks to ban Deloitte, KPMG arm for five years over alleged lapses in IFIN audit
India is seeking to ban Deloitte Haskins Sells and KPMG affiliate BSR & Associates for five years, alleging lapses in their audits of a unit of Infrastructure Leasing & Financial Services (IL&FS), which the government took control of last year. India's corporate affairs ministry told a company law tribunal that the companies "miserably failed" to fulfil their duties as auditors for IL&FS Financial Services (IFIN)
PM Modi to hold first meeting of the council of ministers of new govt today
The first meeting of the new council of ministers will be held today in which Prime Minister Narendra Modi is likely to outline the roadmap of his government, sources said Tuesday. The prime minister is expected to underline the role of ministers of state in the running of ministries and may ask Cabinet ministers to give their deputies adequate responsibilities.
50 per cent import tariff on US motorcycles by India unacceptable: Trump
Ahead of his meeting with Prime Minister Narendra Modi, US President Donald Trump has again criticised India's high import tariff on the iconic Harley Davidson motorcycles as "unacceptable", though he acknowledged that his "good friend" slashed the duty by half from 100 per cent. Trump's comments came as he and Modi have agreed to meet on the sidelines of the G20 Summit in Osaka, Japan on June 28-29.
Mother Dairy partners DTC to set up 31 kiosks at bus depots, terminals & housing colonies
Leading milk supplier Mother Dairy Tuesday announced partnership with Delhi Transport Corporation (DTC) to set up 31 kiosks at latter's bus depots, terminals and housing colonies as part of its efforts to expand presence in the National Capital Region. Mother Dairy sells over 30 lakh litres of token and pouched milk per day in Delhi-NCR.
IndiGo announces special summer sale
IndiGo has announced a four-day special summer sale across its network for the travel period between June 16 and September 28. "Effective June 11, 2019 till June 14, 2019, IndiGo is offering customers all-inclusive fare starting at Rs 999 across domestic and Rs 3,499 across international sectors. This sale is valid for travel period between June 16, 2019 to September 28, 2019," the low-cost carrier said in a statement.
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