The Trinamool Congress government's massive defeat in West Bengal shows "deep anti-incumbency and unpopularity" as out of 35 ministers who contested the assembly elections, 22 have been defeated, including Chief Minister Mamata Banerjee in her constituency.
Under the TMC, Bengal has seen expansion of welfare, but not big-ticket private investment.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
The Communist Party of India (Marxist) is set to elect its next general secretary, with speculation rife over who will lead the party. Leading contenders include M A Baby, backed by the party's Kerala unit, and Ashok Dhawale, who enjoys support from the West Bengal lobby. Other potential candidates include Mohammed Salim, B V Raghavulu, and Brinda Karat. The election will take place at the 24th CPI(M) congress in Madurai, Tamil Nadu.
India's wholesale price-based inflation is at a 30-year high, leading to a "very alarming" situation for the country, former World Bank chief economist Kaushik Basu said on Thursday. He, however, doesn't see any risk of hyperinflation, but cautioned that if retail inflation follows wholesale prices, it might lead to "inflationary crisis". Participating in a virtual event organised by the Asia Society, India, Basu said the inflationary situation in India is at a "very risky bend".
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
He was reviled by critics in his party as a neo-liberal in disguise but till the end, he retained his belief in secularism and the humanity of Communism.
The government's Chief Economic Adviser, Kaushik Basu, on Wednesday said economic growth is expected to rise to 8.5 per cent in the fourth quarter, while inflation is likely to be significantly lower from May-end
Former West Bengal chief minister and a front-ranking Marxist leader Buddhadeb Bhattacharjee will go down in the country's history as a pragmatic communist who kept aside his ideological convictions to woo capital for the industrialisation of his state.
The West Bengal government has decided to postpone its ongoing industrialisation drive for three months, former Chief Minister Jyoti Basu said.
The climate for 'doing business' remains forbidding, taxtortion is still rife, corruption at state and district levels has increased, oil prices remain extortive with high taxation, and the continued red tape has kept the enterprise system as stifled as before, points out Debashis Basu.
Economist Abhijit Sen, a former Planning Commission member and one of the country's foremost experts on rural economy, died on Monday night. He was 72.
The 'sudden volatility' in Adani stocks is entirely due to a series of events that was extreme and unique, and played out in too short a period. Investors and regulators pretended that it wasn't so. But then, along came Hindenburg, which forced some eyes to open, points out Debashis Basu.
As farmers continue their protests demanding repealing of the three new laws, Kumar also emphasised that continued negotiations with protesting farmers is of course the way forward.
Gandhi, then a newly appointed Congress chief, had staked claim to form the government at the Centre after the then Prime Minister Atal Bihari Vajpayee had lost the vote of confidence in the Lok Sabha on April 17, 1999.
Three TMC leaders Amit Mitra, Bratya Basu and Rathin Ghosh were sworn-in virtually. Mitra is unwell and both Basu and Ghosh are recuperating from COVID-19.
According to the first advance estimate released by the ministry last month, rice production was projected to rise to 80.41 million tonnes in Kharif season of 2010-11 crop year (July-June) against 75.91 million tonnes in the last Kharif.
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.
About Rs 15 lakh crore of high-value notes were scrapped, against which RBI has managed to supply roughly Rs 4 lakh crore worth of notes in the market so far, Anup Roy/Business Standard reports from Mumbai.
The government on Monday launched online plant quarantine services to help importers and exporters of plant materials for more efficient and transparent delivery of services.
His comments assume significance as this is the first time that a senior government official has spoken on the possible impact of below normal rains on agriculture production.
The country's inflation would be on the higher side, Basu said, adding that 'our core inflation, excluding food and fuel prices, is around 5.5 per cent.'
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
Credit Suisse First Boston, a leading investment banker, has scaled down India's GDP growth from 5.7 per cent to 5.4 per cent for the financial year 2002-03.\n\n\n\n
If the WTO talks in Bali fail, it will adversely impact India.
'But India needs to remember Dr Roy, the multifaceted genius who excelled as a physician and was most loved as a leader,' notes Dr Sudhir Bisht.
In power, Mamata Banerjee has tried to bury the ghost of the past, but it might still be work-in-progress. Big-ticket and eye-grabbing (in terms of investment size) projects are still few and far between, reports Ishita Ayan Dutt.
The phase is crucial as it will decide the fate of several ministers -- Finance Minister Amit Mitra, Agriculture Minister Purnendu Basu, Law Minister Chandrima Bhattacharya, Tourism Minister Bratya Basu, Food and Supplies Minister Jyotipriyo Mullick and Agriculture Marketing Minister Aroop Roy.
'If it works, something good can come out of this tragedy for the common public good,' say Dr Prasad Gadgil and Dr Kunal Basu.
'Who are these people on the streets?' 'They are youth and students who were hoodwinked, bluffed by Modi for the last seven years, with a promise of 2 crore jobs every year.' 'And Mamata sings the same tune.' 'But the youth can see that as long as there is Mamata or Modi, there is no hope.'
Then chief minister Jyoti Basu once told an industrialist that capitalists were class enemies and he should expect no sympathy.
The economy could return to 8% growth by the end of 2017-2018, says Arvind Panagariya, vice-chairman NITI Aayog.
'Where was cement 100 years ago?' 'Why do we need harmful building materials when we have so much in nature around us?' Geeli Mitti founder Shagun Singh tells Samali Basu Guha.
As the BJP snaps at its heels, can the Communists stay relevant in the electoral game?
In South Asia, the poverty would fall to 13.5 per cent in 2015.
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
'What is forgotten but is actually as important for a society's long run success is morality.' 'Morals and trust are the nuts and bolts of an economy.' 'Without those you can get short run success, but not long-run development.'
Indian scientists who wrote to the PM last week are not entirely rejecting GMOs but instead asking for caution and further testing to establish their safety.
A visibly elated Sharma said the decision gave India complete protection even if it breached the food subsidy limit under WTO rules
A policy-related problem that urgently needs to be redressed is the 'miniaturisation' of projects.
