Ranjan

Ranjan

Ranjan Srivastava leads HT’s coverage from Bhopal. He has spent more than two decades in journalism in Uttar Pradesh and Madhya Pradesh, covering political and other affairs. For the past 16 years, he has been working in Madhya Pradesh.

Articles by Ranjan
Purchasing managers’ index for services fell to 54.6 in March. (HT file photo)
Purchasing managers’ index for services fell to 54.6 in March. (HT file photo)

Second wave of Covid-19 slows services PMI in March

By Asit Ranjan Mishra
PUBLISHED ON APR 08, 2021 07:48 AM IST
Data analytics firm IHS Markit on Wednesday said India’s purchasing managers’ index (PMI) for services fell to 54.6 in March from 55.3 in February, registering a slower but still marked pace of expansion.
Gopinath said faster progress with vaccinations can raise the growth forecast of both developed and developing countries. (Bloomberg file photo)
Gopinath said faster progress with vaccinations can raise the growth forecast of both developed and developing countries. (Bloomberg file photo)

Amid rising Covid cases, IMF raises India outlook

By Asit Ranjan Mishra
PUBLISHED ON APR 07, 2021 08:57 AM IST
Briefing reporters while releasing the IMF’s biannual World Economic Outlook, chief economist Gita Gopinath said the one percentage point increase in India’s growth forecast for FY22 came in the background of encouraging signs from high-frequency indicators.
Finance minister Nirmala Sitharaman.(Mint)
Finance minister Nirmala Sitharaman.(Mint)

India equipped to tackle risk posed by fresh Covid-19 wave: Sitharaman

Livemint | By Asit Ranjan Mishra
PUBLISHED ON APR 06, 2021 07:12 AM IST
  • India registered more than a lakh coronavirus cases on Sunday, surpassing even the peak of the first wave of the pandemic, with almost 50% of the cases being reported from Maharashtra.
Employees handle garments on the cutting division production line at the CBC Fashions Pvt. factory in Tiruppur, Tamil Nadu. (Bloomberg)
Employees handle garments on the cutting division production line at the CBC Fashions Pvt. factory in Tiruppur, Tamil Nadu. (Bloomberg)

Factory activity falls to 7-month low in March

Livemint | By Asit Ranjan Mishra
PUBLISHED ON APR 06, 2021 03:08 AM IST
  • IHS Markit said anecdotal evidence suggested that the upturn was stymied by elevated cost pressures.
The six-member monetary policy committee, headed by the RBI governor, decides on the monetary policy based on the inflation target.(Mint)
The six-member monetary policy committee, headed by the RBI governor, decides on the monetary policy based on the inflation target.(Mint)

Centre sticks with inflation goal for 5 yrs

Livemint | By Asit Ranjan Mishra
PUBLISHED ON APR 01, 2021 07:17 AM IST
The Reserve Bank of India (RBI) governor Shaktikanta Das had defended the existing inflation target, contending that any further loosening would undermine the central bank’s ability to set effective monetary policy.
Cumulatively, the eight core sectors grew by 4.3% in April-February 2017-18 against 4.7% in the same period last fiscal.(Reuters File Photo)
Cumulatively, the eight core sectors grew by 4.3% in April-February 2017-18 against 4.7% in the same period last fiscal.(Reuters File Photo)

Core sector contracts at sharpest pace in six months

Livemint | By Asit Ranjan Mishra
PUBLISHED ON APR 01, 2021 06:56 AM IST
Data released by the industry department showed core sector shrank 4.6% in February underlining the uncertain path to recovery in Asia’s third largest economy amid a second wave of coronavirus infection.
The dispute arose when the Indian government, armed with the retroactive 2012 amendment in the Income Tax Act, demanded that Cairn pay taxes on the alleged capital gains it made due to a 2006 internal corporate restructuring (Hindustan Times)
The dispute arose when the Indian government, armed with the retroactive 2012 amendment in the Income Tax Act, demanded that Cairn pay taxes on the alleged capital gains it made due to a 2006 internal corporate restructuring (Hindustan Times)

Due to its 2012 blunder, India’s Cairn challenge at The Hague is likely to fail

By Prabhash Ranjan
PUBLISHED ON MAR 30, 2021 07:14 PM IST
To put an end to this dispute, India should comply with the ISDS ruling and undo the horrendous error made in 2012 by making the amendment in the Income Tax Act prospective in nature.
Yadav, a resident of Kusumha locality of Ayer police station area, was waylaid near a canal falling under the jurisdiction of Jagdishpur police station, by unidentified miscreants. They shot at him from point blank rage and escaped from the spot. (Image used for representation). (GETTY IMAGES.)
Yadav, a resident of Kusumha locality of Ayer police station area, was waylaid near a canal falling under the jurisdiction of Jagdishpur police station, by unidentified miscreants. They shot at him from point blank rage and escaped from the spot. (Image used for representation). (GETTY IMAGES.)

Railway employee, 3 others killed; LJP leader shot at in Bihar

By Avinash Kumar and Prashant Ranjan
PUBLISHED ON MAR 26, 2021 01:27 AM IST
Former state general secretary of LJP’s youth wing, Premchand Yadav (40), was attacked while returning home around 1am after attending a function at Kitapur village. The attack triggered violent protests by his associates in Bhojpur district.
Union Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi, Tuesday, March 23, 2021. (PTI)
Union Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi, Tuesday, March 23, 2021. (PTI)

Lok Sabha clears Finance Bill with 127 amendments

By Asit Ranjan Mishra, Gireesh Chandra Prasad
PUBLISHED ON MAR 24, 2021 05:29 AM IST
The amendment means offshore e-commerce platforms don’t have to pay 2% equalization levy, or digital service tax on that portion of goods which are sourced from India.
Cargo containers are seen stacked outside the container terminal of Jawaharlal Nehru Port Trust (JNPT) in Mumbai. (Reuters File)
Cargo containers are seen stacked outside the container terminal of Jawaharlal Nehru Port Trust (JNPT) in Mumbai. (Reuters File)

Trade gap widens to $12.6 billion on lacklustre exports

By Asit Ranjan Mishra
PUBLISHED ON MAR 16, 2021 05:23 AM IST
  • Between April last year and February 2021, merchandise exports have contracted 12.23%, while merchandise imports fell 23.1%.
China made such comments during a discussion on India’s trade policy at the World Trade Organization.(AFP)
China made such comments during a discussion on India’s trade policy at the World Trade Organization.(AFP)

China rakes up India’s ban on apps, FDI curbs at WTO

By Asit Ranjan Mishra
PUBLISHED ON MAR 09, 2021 05:57 AM IST
  • China said it acknowledges India’s efforts to enhance competitiveness in manufacturing and services sectors through ‘Make In India’ and ‘Digital India’ initiatives but remains concerned that some of the measures are not consistent with WTO principles.
The Survey said a major challenge most firms face is the complex architecture of the governance framework, including the density of legislation and statutory compliances.(MINT_PRINT)
The Survey said a major challenge most firms face is the complex architecture of the governance framework, including the density of legislation and statutory compliances.(MINT_PRINT)

Govt plans to scrap 6,000 compliances

By Asit Ranjan Mishra
PUBLISHED ON MAR 06, 2021 02:04 AM IST
  • Mohapatra said the idea came during Modi’s meeting with Marriott International president and chief executive Arne Sorenson, who complained about the complex regulations in starting and running a hotel in India.
Worryingly, however, employment declined for the third month in a row, and companies noted the sharpest rise in overall expenses for eight years.(iStock)
Worryingly, however, employment declined for the third month in a row, and companies noted the sharpest rise in overall expenses for eight years.(iStock)

Services expand at fastest rate in a year in Feb

By Asit Ranjan Mishra
PUBLISHED ON MAR 04, 2021 12:10 AM IST
  • In comparison, PMI for the manufacturing sector had fallen marginally to 57.5 in February from 57.7 a month ago, data released on Monday showed.
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)
February data pointed to the strongest increase in input inventories in the survey history as firms reacted to rising production needs by lifting purchasing activity.(Reuters file photo. Representative image)

Manufacturing activity remained strong in February

By Asit Ranjan Mishra
PUBLISHED ON MAR 02, 2021 06:57 AM IST
Data released by analytics firm IHS Markit on Monday showed Purchasing Managers’ Index (PMI) for the manufacturing sector fell marginally to 57.5 in February from 57.7 in January.
Finance minister Nirmala Sitharaman, in the budget, has pegged the Centre’s fiscal deficit at 6.8% of GDP for FY22, promising to bring it down to 4.5% of GDP by FY26.(Kunal Patil/HT file photo. Representative image)
Finance minister Nirmala Sitharaman, in the budget, has pegged the Centre’s fiscal deficit at 6.8% of GDP for FY22, promising to bring it down to 4.5% of GDP by FY26.(Kunal Patil/HT file photo. Representative image)

GDP to shrink 7% this fiscal, see 13.7% growth in FY 22, says Moody’s

By Asit Ranjan Mishra, Gopika Gopakumar
PUBLISHED ON FEB 26, 2021 08:19 AM IST
The rating agency also said India’s weak fiscal position will remain a key credit challenge in 2021 with a debt-to-GDP ratio above its peers. India has the lowest investment grade of Baa3 with negative outlook from Moody’s.
Modi said the FY22 budget has put forward a clear roadmap to put the economy on a high-growth trajectory and the PSE policy announced in the Budget aims at right utilization of public money.(PTI Photo)
Modi said the FY22 budget has put forward a clear roadmap to put the economy on a high-growth trajectory and the PSE policy announced in the Budget aims at right utilization of public money.(PTI Photo)

Govt has no business to be in business: PM Modi

By Asit Ranjan Mishra
PUBLISHED ON FEB 25, 2021 06:07 AM IST
Modi said it is not necessary or possible for the government to remain the owner of so many central public sector enterprises (CPSEs) and the government should rather focus on public welfare and development. “That’s why I say government has no business to remain in business,” he added.
Fitch has projected the Indian economy to grow at 11% in FY22
Fitch has projected the Indian economy to grow at 11% in FY22

Fitch Ratings cautions on India’s rising debt

Livemint | By Asit Ranjan Mishra
PUBLISHED ON FEB 11, 2021 06:58 AM IST
  • India entered the pandemic with little fiscal headroom from a rating perspective, the agency noted
Britain's Secretary of State of International Trade and Minister for Women and Equalities Liz Truss is seen outside Downing Street, in London, Britain.(REUTERS)
Britain's Secretary of State of International Trade and Minister for Women and Equalities Liz Truss is seen outside Downing Street, in London, Britain.(REUTERS)

UK's trade ties with India a priority, says Elizabeth Truss

By Asit Ranjan Mishra, Elizabeth Roche
PUBLISHED ON FEB 08, 2021 07:11 AM IST
  • On tax problems faced by Cairn Energy and Vodafone, Truss said she hoped that arbitral awards by international dispute settlement mechanisms will draw a line under them.
Last March, the government announced PLI schemes for three sectors, mobile phone manufacturing and specified electronics components, drug intermediates and active pharmaceutical ingredients, and medical devices, worth <span class='webrupee'>₹</span>51,355 crore.(Mohd Zakir/HT File Photo)
Last March, the government announced PLI schemes for three sectors, mobile phone manufacturing and specified electronics components, drug intermediates and active pharmaceutical ingredients, and medical devices, worth 51,355 crore.(Mohd Zakir/HT File Photo)

Centre to roll out PLI scheme for ACs, LEDs

By Asit Ranjan Mishra
PUBLISHED ON FEB 06, 2021 12:58 AM IST
Mohapatra said the PLI scheme will be a game changer in the country, where the focus is not only on manufacturing locally but also for the world.
Finance Minister Nirmala Sitharaman arrives at the finance ministry before she leaves to present the federal budget in the parliament in New Delhi, India, February 1, 2021. (REUTERS)
Finance Minister Nirmala Sitharaman arrives at the finance ministry before she leaves to present the federal budget in the parliament in New Delhi, India, February 1, 2021. (REUTERS)

Fiscal policy won’t be tied to debt-GDP ratio for now

By Asit Ranjan Mishra
PUBLISHED ON FEB 05, 2021 12:49 AM IST
The 15th Finance Commission (FFC), which was chaired by N.K. Singh, has recommended bringing the public debt to GDP ratio down from 89.8% of GDP in FY21 to 85.7% of GDP in FY26.
Major export items that helped India’s outbound shipments turn the corner include drugs and pharmaceuticals (up 16.4%), engineering goods (18.69%) and iron ore (108.66%).(Bloomberg)
Major export items that helped India’s outbound shipments turn the corner include drugs and pharmaceuticals (up 16.4%), engineering goods (18.69%) and iron ore (108.66%).(Bloomberg)

Exports rise 5.37% in January

Livemint | By Asit Ranjan Mishra
PUBLISHED ON FEB 03, 2021 07:44 AM IST
Imports expanded 2.05% last month while exports grew 5.37%, leaving a trade deficit of $14.75 billion, according to preliminary data released by the commerce ministry. Non-petroleum and non-jewellery imports grew 5.94%.
“We have done an exercise. There are 131 centrally sponsored schemes. We intend to reduce the number of schemes by approximately one third taking into account the recommendations of the Finance Commission,” Somanathan said in an interview.(ANI)
“We have done an exercise. There are 131 centrally sponsored schemes. We intend to reduce the number of schemes by approximately one third taking into account the recommendations of the Finance Commission,” Somanathan said in an interview.(ANI)

15th finance commission recommendations: Centrally funded plans face the axe

Livemint | By Asit Ranjan Mishra
PUBLISHED ON FEB 03, 2021 07:36 AM IST
Schemes that have outlived their relevance will be terminated, says expenditure secretary T V Somanathan.
The FY21 upgrade for India is because mobility came back much faster than expected. (HT Archive)
The FY21 upgrade for India is because mobility came back much faster than expected. (HT Archive)

India’s economy to shrink by 8% in FY’21, says IMF

By Asit Ranjan Mishra
PUBLISHED ON JAN 27, 2021 05:37 AM IST
  • India’s September quarter GDP estimate, at -7.5% after -23.9% in the June quarter, positively surprised analysts.
Representational Image. (Getty Images/iStockphoto)
Representational Image. (Getty Images/iStockphoto)

Student files PIL against Madhya Pradesh’s anti-conversion ordinance

By Ranjan
PUBLISHED ON JAN 15, 2021 10:56 AM IST
Amratansh Nema has said that “the ordinance has been promulgated in utmost haste and autocratic manner without a proper consultative process”
MP BJP chief VD Sharma. (File photo)
MP BJP chief VD Sharma. (File photo)

BJP’s Madhya Pradesh chief names his team

By Ranjan
PUBLISHED ON JAN 14, 2021 01:01 PM IST
VD Sharma’s team has 12 vice-presidents and 12 secretaries. The MP from Khajuraho had earlier nominated five general sectaries in September
Representational image.
Representational image.

In a first, compensatory afforestation of projects in Andaman to be done in MP

Hindustan Times, Bhopal | By Ranjan
UPDATED ON JAN 08, 2021 04:31 PM IST
The implementation of development projects in Andaman and Nicobar was being hindered by the non-availability of land for afforestation as 92% of its area is already covered in forests
The stringent laws do not use the words “love jihad”, and the UP law has already been challenged in the Supreme Court.(Hindustan Times)
The stringent laws do not use the words “love jihad”, and the UP law has already been challenged in the Supreme Court.(Hindustan Times)

MP guv clears ‘love jihad’ ordinance

Hindustan Times, Bhopal | By Ranjan
UPDATED ON JAN 08, 2021 12:07 AM IST
One of the ordinances prescribes punishment of those guilty of adulteration of food and drugs with up to a life term in prison.
MP Governor Anandiben Patel.(HT archive)
MP Governor Anandiben Patel.(HT archive)

Madhya Pradesh governor approves ordinance to regulate inter-faith marriages

Hindustan Times, Bhopal | By Ranjan
UPDATED ON JAN 07, 2021 03:08 PM IST
According to the ordinance, reconversion to embrace one’s “ancestral religion” will not be considered a crime
The tribunal reasoned that India’s decision to retroactively apply the law, without a specific justification, created a new tax burden on a transaction that was not taxable at the time it was carried out, ie. in 2006(Shutterstock)
The tribunal reasoned that India’s decision to retroactively apply the law, without a specific justification, created a new tax burden on a transaction that was not taxable at the time it was carried out, ie. in 2006(Shutterstock)

India’s retrospective taxation blunder is still extracting heavy costs

By Prabhash Ranjan
UPDATED ON JAN 07, 2021 07:20 AM IST
In endeavouring to extract revenue through retroactive taxation that damages investor sentiment in the long run, India is being penny-wise and pound-foolish
A worker wearing a protective face mask works on a loom in a textile factory, amidst the coronavirus disease (Covid-19) outbreak, in Meerut, India.(Reuters)
A worker wearing a protective face mask works on a loom in a textile factory, amidst the coronavirus disease (Covid-19) outbreak, in Meerut, India.(Reuters)

Core sectors see sharper contraction in November

Hindustan Times, New Delhi | By Asit Ranjan Mishra
UPDATED ON JAN 01, 2021 06:30 AM IST
The core sector, which constitutes 40% of the index of industrial production (IIP), showed signs of recovery in September with only a 0.1% contraction after shrinking 6.9% in the preceding month.
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