Indians at large harbour a notion that their country is cherrypicking out of the American basket of goodies, but the policymakers in Delhi and the political leadership are well aware that it can only be a pipe dream since a military alliance with a superpower is a profound irrevocable commitment, observes Ambassador M K Bhadrakumar.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
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.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
The outlook cut is based on a weak premise since the economy is expected to rebound this fiscal but a wake-up call was needed.
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
Domestic demand for goods and services in the country is likely to increase in FY'10 on account of a possible sharp decline in commodity prices globally and reduction in prices of branded goods, an economic think-tank has said. Most of the demand-related problems, which the industry faced following the worsening of the global liquidity crisis in September 2008, were temporary in nature, the report said.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
The most experienced administrator in the country seems to have sat back and allowed bureaucrats and policemen to manage the lockdown, observes Jyoti Punwani.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
'Every educational institution should have incubating centres so that students will get exposed to entrepreneurship early.'
Modi also rolled out the first of the 500 metro coaches manufactured by Bharat Earth Movers in flat 75 days at it Bengaluru facility.
'The reality is no one, including some of the names that have shown up in the last few weeks, have any unilateral decision-making power in this,' Facebook India MD Ajit Mohan tells Peerzada Abrar.
CMIE expects the growth rate to climb slowly from around 6 per cent in the first-half to about 8 per cent in the second-half of FY 10.
Sivan said the Indian National Space Promotion and Authorisation Centre (In-Space) has been created under the Department of Space as a separate vertical for taking independent decisions with respect to permitting and regulating space activities of the private sector.
He cautioned however that these are the early signs and one should not start celebrating.
India, China and the Middle East, with their fast-growing economies and expanding industry, have seen growing air pollution, according to NASA.
India Inc closed FY15 on a positive note.
'In India, a large proportion of the labour force does not have a regular job.' 'People are mostly employed as daily wage workers, agricultural labourers, small farmers and self-employed traders.' 'These move in and out of "jobs" fairly rapidly.' 'It is the high proportion of these workers in India that makes unemployment volatile,' explains Mahesh Vyas.
'Some people even boldly ask for a 100% increase in the salary.'
Each of the larger states may need less than Rs 10,000 crore each to finance the exercise.
Kerala, Karnataka, Tamil Nadu and Telangana have announced a lockdown of educational institutions, malls and other places that attract people in large numbers, even as some of them have been reporting increase in positive cases.
Unemployment was worse only in the pre-demonetisation period, according to the data, at 9.6 per cent in August 2016.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
Grand plan: 10% GDP growth; 175 million jobs; $10-trillion economy
While the lockdown hit employment in all age groups, it hit the employment of youngsters who are less than 29 years of age much more. The lockdown also hit women more than it has affected men, reveals Mahesh Vyas.
'This is a crisis which did not happen overnight. It was happening slowly.' 'Now we are mining very fast and this crisis won't last long.'
Buoyed by the surge in India's exports for April-December 2002 despite global slowdown, the Centre for Monitoring Indian Economy on Monday revised the export growth forecast for 2002-03 from 10 per cent to 18.7 per cent.
All indices ened in the green, barring realty and consumer durables. The BSE metal, IT and auto indices were up 1.5% each. The oil & gas index added 1% in trades on Friday.
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
The research firm also expects sales growth of Indian companies in the quarter under consideration to remain muted. According to the CMIE, sales growth is expected to fall to 20 per cent from 34 per cent in the quarter ending September 2008.
The joint secretary also said a high-level task force to work on frontiers of science related to vaccines and drug testing was formed on Sunday.
The average inflation in the current fiscal is likely to be around 9.6 per cent as against 4.7 per cent in the last financial year, a leading economic think-tank has said.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Niti Aayog vice-chairman Rajiv Kumar debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment.
Several opposition members, including from the Dravida Munnetra Kazagham and the Communist Party of India-Marxist, also pointed out that the government took almost two months to impose the lockdown after the first case came to light in January, and claimed the delay had proved costly.
E-learning and work from home have forced a section of feature phones users to shift to smartphones.
Oilseeds production in India is going to move up. A new report says oilseeds growth in the country will be 16 per cent higher at 26.9 million tonnes during the fiscal as against 23.3 million tonnes produce in 2006-07.
India must weave a quick-fix formula to ensure growth.
The delay in the current year's monsoon rains has heightened uncertainty over India's economic growth and pushed up the risks of a drought, according to a leading independent forecaster.\n\n\n\n
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