PM Modi's China visit may strengthen ties between both the countries.
Leading economists have pencilled in a high 13-15.7 per cent uptick in the economy in the first quarter of 2022-23 with an upward bias. Soumya Kanti Ghosh, the group chief economic adviser at State Bank of India, on Tuesday said he expects the GDP to clip past 15.7 per cent in the first quarter with more chances of the final numbers printing in higher, while Aditi Nayar, the chief economist at the rating agency Icra, said the economy will grow much lower at 13 per cent in the June quarter. The national statistical office will announce the first quarter GDP numbers later next week.
'Whichever option India chooses, it should be clear to the government that the China-Pakistan nexus poses a clear and present danger to national security,' says Brigadier Gurmeet Kanwal (retd).
Prime Minister Narendra Modi on Sunday said the country needs to focus on imparting skills to its young population in order to compete with China, apart from bringing revolutionary changes in agriculture and energy sectors.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
Exim Bank pointed out that recent performance of the manufacturing sector in India is indicative of an underlying inertia.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
Brushing aside India's concerns, China on Monday cemented its "all-weather ties" with Pakistan by agreeing to build a strategic $46 billion (Rs 2.9 lakh crore) economic corridor through Pakistan-occupied Kashmir as part of 51 deals signed, expanding the communist giant's influence in the region.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Since 2014, many of Mohan Bhagwat's speeches have acted as cues for government policy.
Modi's second visit to Arunachal Pradesh was vehemently opposed by China which urged India to refrain from taking any action that may "complicate" the boundary question.
India has much to be proud of and celebrate. But there is also much that is wrong, much that looks dangerous. Employment, current account deficit, rural distress, agricultural productivity are all in deep crisis, points out Shekhar Gupta.
The number of Indians over 15 either working or looking for work is lower as a percentage than in the United States, China, Bangladesh or Pakistan, points out Aakar Patel.
Moody's on Monday slashed India's growth forecast for 2020 to 5.4 per cent from 6.6 per cent projected earlier, on slower than expected economic recovery. In its update on Global Macro Outlook, Moody's Investors Service said India's economy has decelerated rapidly over the last 2 years and economic recovery is likely to be 'shallow'.
China has cast a long shadow on India's economy.
'The Modi-Xi and Modi-Obama meetings, with an interval of just 12 days, are juxtaposed superbly at a crucial point in the prime minister's life. Can Modi carve out a win-win situation with the superpower and the emerging superpower at the same time?'
The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 2021-22) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year.
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
Outlining seven principles of engagement for closer cooperation between India and China, Prime Minister Manmohan Singh on Thursday said the two countries should show sensitivity to each other's interests and sovereignty and move quickly to resolve the boundary issue.
The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
'The issue is not whether the farm laws are beneficial for the farmers or not.' 'The farmers have taken a stand that they do not want these laws.' 'Why do you want to thrust these laws down their throat?'
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Technology has and will continue to fundamentally reshape the world, says World Bank president Jim Kim.
India, which appears to have been pushed back to being the world's sixth biggest economy in 2020, will again overtake the UK to become the fifth largest in 2025 and race to the third spot by 2030, a think tank said on Saturday. India had overtaken the UK in 2019 to become the fifth largest economy in the world but has been relegated to 6th spot in 2020. "India has been knocked off course somewhat through the impact of the pandemic. "As a result, after overtaking the UK in 2019, the UK overtakes India again in this year's forecasts and stays ahead till 2024 before India takes over again," the Centre for Economics and Business Research (CEBR) said in an annual report published on Saturday. The UK appears to have overtaken India again during 2020 as a result of the weakness of the rupee, it said.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
The promise of a less suspicious government is surprising. What about the disconnect between the new business stance and earlier push to dictate the narrative in politics and public life, wonders T N Ninan.
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
Nangiohbok Rymbai, a graduate in economics who works as a daily wage labourer in Shillong, tells Rediff.com's A Ganesh Nadar what he would like to see in Finance Minister Nirmala Sitharaman's Budget.
'Every person has two identities in India, that of his caste and nation.' 'It is understandable in a multi-caste, multi-religious society and I don't mind this.' 'What I mind is the State has failed in doing enough to melt these two identities in such a way that everybody has access to citizenship which is more important than your caste.' 'That is why people remain in the narrow identities of his caste or religion.'
The Centre on Wednesday announced a raft of post-retirement employment possibilities for 'Agniveer' like priority in recruitment to the central armed police forces (CAPF) and Assam rifles but that failed to assuage the concerns of the opposition Congress which warned the 'transformative' 'Agnipath' scheme will reduce the operational effectiveness of the armed forces.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
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