'COVID-19 will not stop the expansion of China's 'infrastructure power'.'
We still have time for this government to take action.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
Attributing the growth to an upswing in consumption and investment, the World Bank has said India will continue to be the fastest growing major economy in the world.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
The government should scrap the windfall profit tax on domestically produced crude oil as the levy is adversely impacting the capex-intensive exploration of oil and gas, the industry said in its recommendation for the forthcoming annual Budget. India first imposed windfall profit taxes on July 1, joining a growing number of nations that tax super normal profits of energy companies. At that time, a Rs 23,250 per tonne ($40 per barrel) windfall profit tax on domestic crude production was levied.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
Luis Rubiales' kiss of Jenni Hermoso triggered a torrent of allegations from other women in sport of predatory behaviour by men.
'Meiteis started feeling insecure stating that the illegal immigrant population is growing in the valley, and that the majority community would become a minority.'
A big hit to China's growth or to Europe's financial system could certainly tip the global economy.
Last month, Prime Minister Narendra Modi had said that the economy is showing "green shoots" as the country emerges from the coronavirus lockdown and underscored the importance of being focussed on both life and livelihood.
With economic activity buoyed by expectations from the new elected government of "Prime Minister Narendra Modi, India is benefiting from a 'Modi dividend'," the Bank said in its twice-a-year South Asia Economic Focus report on Monday.
In the near term, two key factors are the outcome of the monsoon season in respect to cropping yields; and the correction in the crude oil price.
It is domestic policy distortions and inaction to correct them that lie behind the large CADs.
'Misplaced national priorities have brought the economy to a cul-de-sac,' says Ambassador M K Bhadrakumar.
RBI says haste in easing norms for banks harmful to economy.
According to the report, going forward, inflationary pressures in some items may increase due to slight improvement in demand.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
That's why he is now finally focusing on the two things that alone can help: Fiscal expansion -- from December onwards -- and supply management via amended laws and rules that affect business, notes T C A Srinivasa-Raghavan
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
Citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 per cent from 8.9 per cent in September. The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 per cent in FY24, as it expects the benefit of the low-interest rate regime to end by the end of FY23, and it sees the central bank hiking policy rates by 50 bps in the second half of the next fiscal. The Reserve Bank also forecasts 9.5 per cent GDP growth this fiscal while the average projection ranges from 8.5 to 10 per cent.
If the projections come true, then India would regain the tag of the fastest growing major economy of the world, crossing China with more than 0.7 percentage point in 2018 and an impressive 1.2 percentage point growth lead in 2019.
Mayank Ashar, managing director and chief executive officer, Cair India, says the reform momentum should continue and the industry should do its part too.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
The RBI must cut rates to spur growth, say experts.
Based on the evidence at hand, Modi's goal of scripting a broader, lasting upturn appears some way off, says Rajesh Kumar Singh.
Christine Lagarde said the prospect of rising interest rates in the US and China's slowdown are contributing to uncertainty and higher market volatility.
The Board of Control for Cricket in India (BCCI) is reportedly considering to appoint C.K. Khanna as its new president. However, if the decision is taken forward, it would ignore the fact that Khanna is ineligible on tenure count because of having served more than nine cumulative years in state cricket association. Earlier, the Supreme Court after removing Anurag Thakur from the post of BCCI president, had entrusted the senior-most vice-president of the BCCI, Khanna, to run its affairs.
It's time to step on the reforms accelerator.
Instead of targeting global imbalances per se, the narrative must change to the structure and direction of such asymmetries.
The meeting of Congress's highest decision-making body is expected to be at a very 'high voltage' as Sonia's resignation will not be accepted by the CWC members.
The current draft of the Goods and Services Tax could kill any hope of economic revival - and you should blame the Congress if it rolls over and lets it pass, says Mihir S Sharma.
'When the average growth in the last three years was just 2.5%, how does that make us the fastest growing country?' 'They only tell you what has happened in the last 2 years; they are not taking into account what happened in FY21 on account of their mistakes.'
'This is happening regardless of the Budget.'
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
Robust growth in indirect tax receipts points to a nascent revival in manufacturing sector.
RBI expects the growth in the next fiscal to strengthen gradually, notwithstanding the significant headwinds.
