International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
'The classic thing we need as a country is the virtuous cycle where you have robust demand which leads to more capital spending which in turn leads to more job creation and more money in the hands of people.'
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
The ministry of health and family welfare spent Rs 3,948 crore in May this year compared to Rs 7,816 crore in the corresponding month of the previous year. On the other hand, at Rs 12,930 crore, the expenditure had risen almost 200 per cent in April against Rs 4,327 crore in the corresponding month of 2019-20.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
'There are deliberations on whether there can be lowering of income taxes and other sops to keep more money in the hands of taxpayers, enabling them to spend more and boost demand.'
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
'We can go somewhere between 35 per cent and 40 per cent.'
Pronab Sen, the government's former chief statistician, says contrary to perception, GDP growth won't be drastically hit in the present quarter.
'However, this time it looks like that is not working.'
'If there is an RBI majority in the committee, there is no question of a veto.'
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
'India has not integrated into any major trade agreement'.
The ease of doing business has not picked up in a vast number of states and Union Territories.
'Day by day, the queues will shorten.'
Experts warn of over-interpreting the numbers and said their sustainability needed to be watched beyond November, says Indivjal Dhasmana.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Limited IT staff may compel them to focus on big fish than small depositors.
'It is entering growth territory on a month-on-month basis.'
The I-T Department had identified 1.8 million taxpayers in its Operation Clean through data mining and asked them to submit responses about the source of their deposits.
In simple terms, it refers to a deduction allowed in income tax, irrespective of expenses incurred or investment made by assessees.
A large number of people using cards at PoS Cards being used more frequently Small-ticket transactions Mastercard South Asia head Porush Singh calls these the three key trends for a cashless future. And post-demonetization India, he believes, is steadily moving towards it.
When the Centre tries to encroach upon the subjects that are under the prerogative of the state, or where the centre tries to evade from any responsibility guaranteed to a state through a constitutional provision/obligation, it poses a threat to federalism.
Before the MCC came into effect, Modi was busy laying stones, cutting ribbons, and unveiling plaques across the country.
Information gathered from a person's social media account will be matched with his or her declared income.
While the farmers are not getting remunerative prices for their produce, at the same time they are forced to pay high prices for items they consume.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
Experts said the slowdown could be attributed to adjustments leading to destocking and the offering of discounts by companies as the government ushered in the new indirect taxation system on July 1.
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
'A sum of Rs 6,000 a year is very significant for a small farmer whose land holding is very small and whose produce is very small. All these calculations on a daily basis are extremely unfortunate and an insult to farmers.'
'There were lots of functionalities the Group of Ministers asked us to incorporate.'
'Willing to spend is different from when to spend and how much to spend'
'I would like to convey the message to your readers that the prime minister himself is directly seized of the situation on the ground. He periodically reviews the situation on the ground and how it is moving forward, taking inputs from economists, business leaders, chambers of commerce.'
However, economic growth in five years of the UPA and NDA cannot be compared because of the now complex back series data, reports Indivjal Dhasmana.
'Most of the measures the finance minister announced will take effect after the lockdown.' 'By that time, millions of people will be starving.'
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
'I expect fourth quarter GDP growth to be sharply down.' 'I would imagine it would shave off at least one percentage point, if not more, as compared to the third quarter.'
'The CEA suggested that could be as high as 19 per cent.'
'The full effects of the government initiatives will have to work their way through, whether in infrastructure or in the banking sector.'
Exemption limits, standard deduction on radar.
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