The Finance Minister himself admitted that the tax proposal could have some inflationary bearing.
With inflation topping the government agenda, economists have told Finance Minister Pranab Mukherjee to focus on policies to boost agricultural productivity in the upcoming Budget for 2011-12.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
The total cost of internet shutdowns across the world stood at $8.05 billion in 2019, an increase of 235 per cent since 2015-16.
"RBI has been following a good policy. These are the ways of correcting international imbalances," Department of Economic Affairs Secretary R Gopalan said on the sidelines of a seminar organised by ICRIER in New Delhi.
There was no announcement from the government on guaranteeing a minimum basic income, which is the need of the hour. The announcements on portability of ration cards and affordable rental housing to workers are for the long and medium terms. Migrant workers need immediate relief.
The Reserve Bank of India on Wednesday said it has reasonable tools to tame inflationary expectations, which along with short supply of food items, is fuelling price rise.
The NDA govt launched the Mudra scheme to give unsecured loans of up to Rs 10 lakh to small enterprises with the objective to provide self-employment
Besides financial stability, the paper will cover the role of committee of financial sector regulators, HLCC, which decides on the issue of coordination among watchdogs like SEBI, the Reserve Bank, PFRDA, IRDA from time to time.
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
Economists expect a push to reforms by newly-appointed Finance Minister Pranab Mukherjee, who they said is the right person to head the important ministry.
The study conducted for the government, following allegations that big retail was squeezing neigbourhood retailers out of business, showed that the latter's turnover and profit dropped 8 to 9 per cent initially, but the adverse impact weakened over five years. Significantly, the report states that a total of 151 small shops have closed down over a period of 21 months, which is about 4.2 per cent of annual closure of retailers.
The industry chamber also pegged the current size of the retail industry at only $16 billion, while Indian Council for Research on International Economic Relations had put the size of the Indian retail industry at $322 billion in 2006-07. The chamber in its paper on 'Retail Scenario in India and Its Related Issues' said that with the increasing size of the industry, space requirement would also increase to over 220 million square foot.
The IIMs will have to reinvent themselves considerably if they are to compete with top B-schools internationally - both in terms of their faculty as well as their curriculum.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
The government is looking at reworking on the current spectrum policy to ensure efficient management of the radio wave.
Even if our findings are not to the liking of our sponsor groups, we always stand by them, Icrier Director and Chief Executive Rajiv Kumar tells Business Standard. The study took a long time to come and the perception is that the data have been 'fixed' to arrive at tailor-made conclusions that suit the government (the sponsor of the study).
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
Move could delay FDI liberalisation in the sector.
A study by economic think-tank Icrier (Indian Council for Research on International Economic Relations) has found that any adverse impact of organised retail on mom-and-pop stores will wear off over a period of time. Organised retail, it has said, will not lead to job losses and will, in fact, raise farmers' earnings.
The policy is not likely to make a splash of an impact on the economy
It is the duty of the Indian government to help all Indians, never mind the nature of the help they need.
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
Appreciative of the economic growth in India, the World Bank said on Wednesday it (the growth) has not generated more inequality in the country.
Without strong storage facilities, bumper harvest has resulted in price crash
World Bank said on Thursday that the Indo-Asean free trade agreement would turn out to be a futile exercise unless India makes conscious efforts to lower tariffs and remove non-tariff barriers further.
Kiran Vissa, co-convenor of National Alliance for Sustainable Agriculture, said that amendments to the EC Act have nothing to do with farmers' welfare but instead meant to please big players and agriculture companies. This is because small and marginal farmers don't have the storage capacity to attract provisions of the EC Act.
'China need not worry about a truly 'resurgent India'.' 'It's not going to happen.'
'The rise in unemployment, underemployment, discouraged workers and job insecurity is likely to continue, with very adverse consequences for the nation's economic well-being and social cohesion,' warns Shankar Acharya.
'...because of its permanent nature.' 'If you work for the private sector or for yourself, you are not regarded as being employed,' points out T C A Srinivasa Raghavan.
Several speakers noted that Budget carried the weight of expectations.
Telangana govt currently provides the state's 5.83 million farmers an income support of Rs 4,000 per acre per season, irrespective of the size of their land holding
There's no silver bullet to get rid of poverty, says Alok Sheel.
Under fixed-term employment, workers are entitled to all statutory benefits available to a permanent worker in the same factory. However, employers may not give notice to a fixed-term worker on non-renewal or expiry of his or her contract.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
India Inc is automating and squeezing more output from its workers and so needs fewer of them, finds out IndiaSpend Team.
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