'For the first time, all major countries are discovering India's indispensability to their own foreign policy interests.'
The corporate big-wigs gathered in Davos, for the 44th World Economic Forum Annual Meeting said investors, corporate boards, business schools and accounting rules must change to de-emphasise short-term financial performance.
Li also had a difficult meeting with some of the Western leaders on the sidelines, especially Italian Prime Minister Giorgia Meloni, who has signalled Italy's resolve to quit China's famed Belt and Road Initiative for its failure to bring the expected results to Rome.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Dr Ajay Kumar Sood will have to complete a task his predecessor started: Getting the government to sign off on a new Science, Technology, and Innovation Policy on which work was begun in 2020.
China remains the elephant in the room and has to be tamed, which the United States alone is unable to do and therefore calls allies to come on board.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
The economist was also critical of demonetisation and the way Good and Services Tax was implemented.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Shortage of ICU beds, oxygen, ventilators, vaccines, doctors, nurses and crematorium space in India has dominated headlines around the world in the past few weeks with Covid-19 cases surging beyond control and the government failing to deliver. Yes, election rallies, Kumbh Mela, blatant flouting of social distancing and mask protocols coupled with a messy vaccination process are said to be responsible for the health crisis of colossal proportions that India is facing today. But an analysis of Budget speeches made by finance ministers over 75 years also offers a glimpse of how low on the priority list healthcare has featured for the political class and policy-makers, which is a significant reason for the current situation.
Failure to address the core issue of development and overconfidence on the 'false campaign' of 'India Shining' led to the debacle of the Bharatiya Janata Party-led National Democratic Alliance in the elections, leading economists said on Thursday.
The population is important and so is the talent, he said about China, the world's second-largest economy after the United States.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
'It's not really going to bring about purity in the election process.'
India on Tuesday told the UN General Assembly that the days when a few nations set the agenda and expected others to fall in line are over, underlining that its presidency of the G20 sought to focus on key concerns of the many, not just the narrow interests of a few.
Equity benchmarks snapped their six-session rally to close marginally lower on Thursday amid profit booking in banking and energy counters. Investors also stayed on the sidelines ahead of the RBI's policy meet outcome on Friday. In choppy trade, the 30-share BSE Sensex ended 51.73 points or 0.09 per cent lower at 58,298.80. During the day, it hit a low of 57,577.05 and a high of 58,712.66.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
The war of words between Donald Trump and his Democratic rival Hillary Clinton on Wednesday reached a new high with the presumptive Republican presidential nominee calling her a "world-class liar" while she hit back describing him as "self-proclaimed king of death" for his rhetoric, economic policies.
The next quarter-century could mark India's rise as a nation to be more whole-heartedly admired if it addresses its institutional and policy failures, and focuses on reducing its inequalities and addressing its iniquities, asserts T N Ninan.
'His contributions in setting up transparent precedents of governance are still basically intact despite the cynicism of several of his successors,' notes Jamini Bhagwati.
Shinde announced that his government is committed to providing reservation to the Maratha community.
'For the common man, the economic conditions are not going to get better.'
'In the long run, I don't foresee major ramifications [about Trudeau's allegations].' 'There's just enough hypocrisy among Western nations for India to douse the outrage.'
The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
During his first Union Budget in July 2014, former finance minister Arun Jaitley announced the setting up of an institution called 3P India, with an allocation of Rs 500 crore. The intention was to mainstream public-private partnerships (PPPs) in India. The plan was to bring together the capacities of the government and private sector to push PPP projects.
India's economy is not like Western ones, and thus needs restrained fiscal policy even during a recession, says Ajay Shah.
Financials emerged as the top gainers while auto shares rallied on robust September sales
The government on Monday appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shankanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI
'There is a certain irony embedded in this asymmetric geographical distribution of FDI because most state leaders have shed their inhibitions about promoting 'business' and have understood its virtues as a more cost-effective way of replacing the mai-baap welfarism that passed for economic policy till the early nineties', says Kanika Datta.
On a mission to cool soaring bilateral tensions, United States Secretary of State Antony Blinken on Sunday held extensive talks with his Chinese counterpart Qin Gang on a range of issues, including the Taiwan issue and the Ukraine war.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
A careful reading of the national income accounts suggests that after a strong recovery from the pandemic, there has been a significant ebbing of dynamism over the last three quarters to more modest levels recently, note Arvind Subramanian and Josh Felman.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
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