The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
A way out of the economic slump is to revisit the template of 15 years ago and follow its constituents, recommends Ajay Shah.
'It is far too early to celebrate the numbers.' 'They are still fairly weak compared to the pre-pandemic level.'
India's growth in the last three financial years has averaged just 1.9%. It is natural to project rapid growth from this low base. Crucial to that would be the assumption that the economy has suffered no lasting damage from the pandemic, observes T N Ninan.
During the Congress regime, India did witnessa slew of reforms which are now taken up by the Modi government too.
He said the 'toxic combination of deep distrust, pervasive fear and a sense of hopelessness in our society' is stifling economic activity and growth.
2015 is going to witness new agreements on climate change.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
Experts said the tensions have added to a sense of apprehension in the United States, Europe and parts of Asia that China will engage in more aggressive behaviour in pursuit of its territorial interests, which in turn has raised the possibility of a serious and coordinated pushback by leading global players.
'A buoyant market economy is one which is led by the innovation and imagination of private persons,' notes Ajay Shah.
The residents of Delhi stand to lose 10 years of life expectancy if the current air pollution level persists.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
Reserve Bank will hold its first bi-monthly monetary policy review for 2016-17 on Tuesday.
What some of our leaders were up to on Friday, November 11.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
'Washington appears to be playing the long game, and making the argument to India that over the longer term, Russia -- sanctioned, cash-strapped, isolated by the West -- will no longer be a viable defence partner for India'
He spoke on 'public policy for inclusive development' before students of the post graduate programme in management, the flagship course of the premier business school, the IIM-A said.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
India's economic growth accelerates to 7.4% in Sept quarter
'We are receiving a steady stream of interest from well-established foreign universities.'
'What gives hope is that Modi's own leadership is vitally linked to his capacity to deliver on the economic front. Indeed, if he succeeds, India's foreign policies will have changed beyond recognition,' feels Ambassador M K Bhadrakumar.
The biggest risk to India's growth outlook is an escalation of geopolitical tensions, especially if these tensions spread to the Asian region, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Wednesday. Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country. He is cautiously optimistic about the Indian economy as after the pandemic abated, consumption demand has begun to recover though the recovery is uneven across sectors and industries.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
The fewer the number of central ministries that matter, the better the efficacy of India's reforms.
The rupee extended its losses and slipped 12 paise to 77.74 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.72 against the American dollar, then lost ground to quote at 77.74, registering a fall of 12 paise from the last close. On Wednesday, the rupee declined by 1?7 paise to close at its fresh lifetime low of 77.6?1 against the US dollar.
The Sensex jumped 412.23 points on Friday, braving heavy volatility during the day, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate and buying in index heavyweights Reliance Industries Limited and ITC. The BSE Sensex climbed 412.23 points or 0.70 per cent to settle at 59,447.18. During the day, the benchmark hit a high of 59,654.44 and a low 58,876.36. The Nifty also gained 144.80 points or 0.82 per cent to finish at 17,784.35.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Realistically, coal will be the major fuel for electricity generation in India, as in America, for a long time.
India maintained 43rd rank on an annual World Competitiveness Index compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The 64-nation list was led by Switzerland, while Sweden has moved up to the second position (from sixth last year), Denmark has lost one place to rank third, the Netherlands has retained its fourth place and Singapore has slipped to the fifth place (from first in 2020). At eighth, Taiwan reached the top-10 for the first time since the ranking began 33 years ago (moving up from 11th last year).
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
'The State uses identity politics as part of divide and rule; the militant groups too use identity politics and civil society groups are also divided along ethnic groups.'
In New Delhi, Singh will continue US administration's ongoing consultations with India, and advance a range of issues in the US-India economic relationship and strategic partnership.
Studies suggest net benefits of hydro-power, nuclear energy or natural gas as sources of electricity are greater than those of wind and solar.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
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.
'This is a historical moment in the political history of Sri Lanka.' 'You can see the amount of pressure that is coming from the people because nobody addressed the policy blunders, multiple corruption charges and huge scandals.'
'When I started this, I just took it as an ordinary yatra from Kanyakumari to Kashmir. Slowly we understood that this yatra has a voice and feelings'
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