Inequality and inclusiveness are different, with the latter having several components.
Now that the quarterly monetary and credit policy announcement is out of the way, the macroeconomic policy focus must surely return to the critical issue of the exchange rate. The debate on what to do about it has been vigorous, on these pages and elsewhere, but, so far, it has not translated into a concrete statement about the direction which the policy is likely to take.
The Index of Industrial Production (IIP) for July 2007, released on September 12, showed the manufacturing sector decelerated to a growth rate of 7.2 per cent over July 2006, after many months of double-digit growth.
In sectors in which foreign resources are heavily invested, notably IT and ITES, the competitive edge of Indian firms is not really under any immediate threat
Most believe it was in the post-1991 period, but the structural break took place in 1980-85.
Regulatory reform will not stimulate improvements in the informal sector as long as the workers remain at current skill levels.
As far as outcomes are concerned, the evidence on a soft landing, while not yet conclusive, shows movement in the right direction.
India is in a state of structural balance of payments surpluses, with the foreign exchange inflow substantially exceeding the demand for it.
We have a plan that involves speeding up the convertibility process along with a commitment to a market-determined exchange rate.
The interest rate is the RBI's best bet for keeping the economy close to the 'normality' benchmark.
The speech was filled with references to a large number of allocations ranging from a few crores of rupees to a few thousand crores, all apparently being given equal importance, at least in terms of word count!
Even as the share of agriculture in GDP shrinks, it still has the ability to spoil the party.
Things seem to be getting worse on the wage front partly because there hasn't been much by way of new entry of businesses.
Without a salary revision, the government will have increasing difficulty retaining its existing professional cadres.
The challenge for banks is to facilitate transactions among people who are part of the informal and cash-oriented economy.
The growth of the middle class is going to be fundamental to sustaining economic performance.
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