
Delhi CM unveils tourism plan
Speaking to reporters after Independence Day celebrations at Chhatrasal Stadium, Gupta detailed a heritage circuit linking forts, monuments, museums and cultural centres into a seamless route showcasing Delhi's rich past and vibrant present. A state-of-the-art Yamuna cruise service is planned, offering scenic river views alongside a regular Yamuna Aarti, modelled on revered riverbank rituals.
In a major cultural push, the government will also develop a 12-kilometre Chhath Ghat along the Yamuna, creating one of India's largest riverfront spaces for spiritual gatherings. Expected to host lakhs during Chhath Puja and other festivals, it aims to be a major religious and cultural landmark.
Gupta said the projects will stimulate the economy while deepening visitors' connection with the city. 'With small but strong steps, we will create an independent, developed Delhi,' she said.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Time of India
20 minutes ago
- Time of India
Uncertainty Over Trade Deal With US, Malnutrition In Gaza & More
GST Revolution Ahead: Experts Decode PM Modi's Plan To Simplify India's Tax Structure Prime Minister Narendra Modi's Independence Day promise of next-generation GST reforms has triggered strong expert responses. Economist Ved Jain highlights that after eight years, India is ready to move from multiple slabs to a simpler two or three-rate system. Former CBEC Chairman Najib Shah says merging current slabs could free up consumer spending and fuel demand. Pankaj Mohindroo of ICEA believes GST rationalisation is essential for 'Viksit Bharat @ 2047' and will help both industry and consumers. Experts agree the shift is not just about tax, but about a structural reform that could shape India's economic future. 12.1K views | 1 day ago


Indian Express
20 minutes ago
- Indian Express
S&P rating upgrade: how India earned it and what lies ahead
Last week was turning out to be a great one for the Indian economy even before Prime Minister Narendra Modi announced a raft of reforms in his Independence Day speech. A day earlier, S&P Global Ratings had upgraded its rating on India to BBB from BBB-. The sovereign rating upgrade by S&P is significant for two key reasons. One, it came after a gap of nearly two decades; and two, it has meaningful implications for the Indian economy. India's upgrade pursuit The Indian government has over the last several years aggressively pursued the three global agencies — S&P, Moody's, and Fitch Ratings — for higher ratings that, in its opinion, better reflect the economy's fundamentals. In fact, New Delhi has repeatedly expressed its displeasure over the agencies' methodologies, saying they were biased against emerging economies. The Economic Survey for 2020-21 even had a chapter titled 'Does India's Sovereign Credit Rating reflect its fundamentals No!'. 'The rating of India did not capture India's fundamentals for almost a decade,' Soumya Kanti Ghosh, State Bank of India's Group Chief Economic Adviser, said in a note on August 14. So, what has convinced S&P that now is a good time for India to be given an upgrade? Steady economic improvement The primary reason is clarity on the government's finances. While the Centre has had a law called the Fiscal Responsibility and Budget Management Act since 2003 — it demands reducing the annual fiscal deficit to 3 per cent of GDP — it has rarely been met. In fact, only once since the Act's enactment has the Centre's fiscal deficit fallen below 3 per cent, in 2007-08, and that was primarily due to some financial jugglery. It was in January 2007 that S&P had last upgraded its rating on India. However, post the coronavirus pandemic, the fiscal deficit has been reduced aggressively from 9.2 per cent in 2020-21 to a targeted 4.4 per cent in 2025-26. Going forward, the Centre will start targeting a reduction in its debt-to-GDP from 57.1 per cent in 2024-25 to 49-51 per cent by 2030-31. Then there is growth. Despite GDP growth falling to a four-year low of 6.5 per cent in 2024-25, India remains one of the fastest growing large economies in the world — or in S&P's words, 'among the best performing economies in the world'. And this is real, or inflation-adjusted, growth; nominal growth — which is the actual increase in the GDP in today's prices — is even higher. When it comes to calculating the debt-to-GDP ratio, it is the nominal GDP that matters. As such, as long as nominal GDP growth is higher than the pace with which the debt is increasing, the debt-to-GDP ratio will keep falling. Another key factor has been the fairly low and stable domestic inflation, with S&P praising the Reserve Bank of India's inflation management record. As per latest data, India's headline inflation rate had fallen to 1.55 per cent in July — the lowest since mid-2017. Low and stable inflation is crucial to foreign investors as sharp increases in prices can erode their investments, weaken growth and the domestic currency, and create social unrest — all factors that can lead to a rating downgrade. A credit rating is nothing more than a measure of an entity's creditworthiness, or how likely it is that they may pay back borrowed money. If you pay back your loans and credit card bills on time and in full, your credit score improves. It is the same for countries. Most countries need to borrow money every year to fund some of their expenditures. The difference between the total income and the expenditure for a year is the fiscal deficit; the Indian government's is Rs 15.69 lakh crore for 2025-26. This has to be met by borrowing money from the markets, with the government paying interest on it. Now, if the government is seen as being more likely to repay the loan — which is what a higher credit rating indicates — then the rate of interest is lower. According to Madhavi Arora, Chief Economist at Emkay Global Financial Services, the rating upgrade 'can open the door for new pools of global funds' capital', resulting in 'lower cost of funding across macro agents' curves, including corporates — especially those borrowing abroad'. The rating scale To be sure, India's rating level with S&P has itself not changed — the country remains in the BBB category. It's just that it has gone from the lowest edge of it, or BBB-, to a more secure position. The next step would be BBB+. So where does the move to BBB put India on the rating scale? Ratings are divided into two rough classes: investment and speculative grades. Entities, including countries, in the former class are worth investing in, while repayment of loans taken by those in the latter is difficult to predict. But even within the investment grade, there are steps, and BBB is the lowest. According to S&P, a BBB rating indicates 'adequate capacity to meet financial commitments, but more subject to adverse economic conditions'. The next step is A, then AA, and finally, AAA, which signifies 'extremely strong capacity to meet financial commitments'. Who stands where Alongside India, S&P has the likes of Greece, Mexico, and Indonesia at BBB. Just above it, at BBB+, are Botswana (negative outlook), Bulgaria, Italy, Thailand, Uruguay (all stable outlook), and Philippines (positive outlook) A positive outlook puts a rating closer to an upgrade, while a negative outlook makes a downgrade more likely. Above this, with an A- rating, are countries such as Cyprus, Poland, and Malaysia. And right at the top of the tree, with AAA rating, are the richest countries in the world — Australia, Canada, Denmark, and Germany, among others. The richest countries are not guaranteed the best rating. Take the US, for instance, which was downgraded to AA+ by S&P in August 2011 — the first time the world's largest economy had ever been assigned any rating lower than AAA — days after the US Congress raised the country's debt ceiling. More recently, Moody's Ratings in mid-May 2025 lowered its rating on the US to Aa1 from Aaa reflecting 'the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns'. What's next? The implications of a better credit rating are clear — the Indian government should be able to borrow at a lower rate of interest. This has already occurred, with government bond yields in the secondary market on August 14 falling as much as 10 basis points, with the rupee's exchange rate also getting a boost. What about the next upgrade? Helpfully, S&P said on August 14 that it may further raise India's rating if the fiscal deficit of the Centre and states falls below 6 per cent of GDP on a structural basis. This, however, is a 'tough ask', according to Arora of Emkay Global. S&P itself expects the combined fiscal deficit to decline only to 6.6 per cent in 2028-29 from 7.8 per cent in 2024-25.


Time of India
29 minutes ago
- Time of India
Grand inauguration of 'RISE Haat' at RISE Jhansi on Independence Day: 18 product-based startups set up permanent stalls
JHANSI: In order to boost young entrepreneurs towards innovative startups, the RISE Jhansi Incubation Centre, a project under Jhansi Smart City, launched 'RISE Haat' by setting up permanent stalls for eighteen selected product-based startups on Independence Day, blending patriotism and entrepreneurship. These selected ventures, which are among seventy registered startups with RISE Jhansi, will have their permanent stalls and sales counters at the multi-storied incubation centre situated in the Nagar Nigam campus. The launch was conducted by the Divisional Commissioner Bimal Kumar Dubey in the presence of City Mayor Bihari Lal Arya and Municipal Commissioner Sattya Prakash. According to the officials, some of the prominent startups having their stalls include Organic Care India, TARA, Karnika Organics, Chatkara, Happy Pot, Rachnatmak Arts, Manupra Foods, Khula Dibba, Nirhari Handicrafts, Dhanush Digital, Bekar ko Aakar, Occult House, and Anjan Appliances. They will be displaying their products for sale. Commissioner Dubey said, "Recently, RISE Incubation Centre received official recognition from the state govt under the StartInUP initiative. Under this, several RISE startups achieved remarkable success and also received grants. In order to promote women entrepreneurs, a special SHE RISE is also being launched under the WEDC (Women Entrepreneurship Development Cell), which will provide a strong business foundation for women entrepreneurs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Health and comfort: the comfiest slip-on shoes of the year Ultra-Comfortable Shoes Undo " According to him, two startups, 'Hostel Near Me' and 'Rachnatmak Arts', received Rs 40 lakh each, while 'Bekar ko Aakar' received Rs 30 lakh as govt grants. Other startups have also applied for funding and are expected to get the sanction in the coming time under the StartInUP scheme. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.