Recent measures by Indian government to push economic reforms have dispelled fears of policy paralysis, while some more steps are needed for reviving investments and ensuring that household savings go into productive sectors, top banker Chanda Kochhar said.
Indian governments enjoy brief periods of autonomy before politics take over.
'Surgical strikes or air strikes, or both, are likely on the table.'
Pakistan was waiting for an opportunity to bring the Jammu and Kashmir issue to the global agenda and resorted to the terrorism route to provoke India, observes Ambassador T P Sreenivasan.
The Confederation of Indian Industry on Thursday expressed confidence that the economic reforms would continue to be a focal point whichever party forms the next government.
There is a reason this 11 year phenomenon is a rule as much as it is an observation. It speaks to the nature of man and what humans are like, explains Aakar Patel.
'He may respect others, but he is unlikely to admire them'
Budget 2025-26 delivers a carefully calibrated strategy-stimulating demand and investment while keeping fiscal discipline intact. In an environment marked by global trade disruptions, and a softening in urban consumption, Finance Minister Nirmala Sitharaman has taken a measured approach.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
The economy is projected to clock 7.4 per cent growth.
'The demise of #ManmohanSingh ji who (looking back) presided over India's actual 'Acchey Din' feels like the end of an era when India was actually (more) democratic, when Indians were free(er) of fear & intolerance and when Indian public discourse had more decency.'
'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.'
Many were hoping that with Vajpayee's NDA gone, there would be a return to the Congress normal. Nobody was prepared for the opposite. Sonia Gandhi was sceptical. This became the only issue over which Manmohan Singh took on his party bosses and risked his government. Politically, it was riskier than the 1991 reform, recalls Shekhar Gupta.
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
India's economic revival also depends on the government's capacity to push through some critical policy reforms in the coming months, says the Economic Survey 2008-09, which was\npresented by Finance Minister Pranab Mukherjee in Parliament on Thursday.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
'If the BJP detoxifies the nuclear liability law, it will bring economic, environmental and, most of all, strategic benefits.' 'Let's keep our fingers crossed and hope that this Budget promise is met soon -- ideally, before Mr Modi heads to his first meeting with Trump 2.0,' observes Shekhar Gupta.
It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
Finance Minister Nirmala Sitharaman's Budget proposals lay out a comprehensive road map for transforming India into a developed nation, focusing on key priorities that aim to generate ample opportunities for all citizens in "Viksit Bharat". It sets the stage for sustained economic growth, social development, and technological advancement.
Debroy's economic interests and research work covered numerous areas such as economic theory, income inequality, and infrastructure financing.
Condolences have poured in from across the globe, including from the United States, Canada and Sri Lanka following the demise of former Prime Minister Manmohan Singh.
'Expect India to keep doing well irrespective of geopolitics.'
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Parliament's approval of the Waqf (Amendment) Bill, a contentious piece of legislation aimed at reforming Waqf bodies, has sparked strong reactions from the opposition, who allege that the bill was "bulldozed" through Parliament. The bill, considered the government's most consequential legislation in its third term, was passed with comfortable majorities in both the Lok Sabha and Rajya Sabha despite opposition claims of a lack of consultation and an intrusion into religious affairs. Other notable bills approved during the session included the Finance Bill, Appropriation Bill, Immigration and Foreigners Bill, and Tribhuvan Sahkari University Bill. The session, which saw high productivity, also witnessed debates on issues such as economic distress, delimitation, and the three-language policy. While the government touted its achievements, the opposition criticized the government's approach and vowed to challenge the Waqf bill in court.
Manmohan Singh, the former prime minister of India and architect of the country's economic reforms, passed away on Thursday night at the age of 92. Born in a village in undivided Punjab, now in Pakistan, Singh's family witnessed first-hand the tragic Partition. Throughout his long public life, he often spoke of communal harmony and democratic values. He served two terms as prime minister from 2004 to 2014 and was known for his wisdom and quiet demeanor.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
President Droupadi Murmu, in her address to the nation on Republic Day, advocated for the "One Nation One Election" initiative, emphasizing its potential to enhance governance and reduce financial burdens. She highlighted the government's efforts to eliminate remnants of colonialism, citing the replacement of British-era criminal laws with modern alternatives. Murmu also lauded India's economic progress, stressing the importance of inclusive growth and social welfare. She urged citizens to remember the sacrifices of freedom fighters and reaffirmed the significance of the Constitution in guiding India's journey towards a prosperous and equitable future.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
'If we truly wish to understand and apply Marx's insights today, we must reject the rigid dogmas that later 'Marxists' imposed in his name.'
For returning to trend growth of over eight per cent GDP growth and sustained low inflation of four per cent, removal of supply-side constraints and investor-friendly policy reforms are key, says Rajesh Cheruvu, Chief Investment Officer, India, RBS.
ICRIER has suggested that the government hasten tax reforms by lowering peak customs duties to ensure export competitiveness of domestic industry.
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Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
'He will be remembered more for what he did as finance minister -- as someone who functioned well when the political fallout was taken care of.'
'... that it once again shies away from renewing its commitment to strategic divestment,' points out A K Bhattacharya.
'He is intrigued by the intractability of Kashmir issue. With his interest in dealmaking and peacebrokering, he sees it as an exciting challenge to tackle.'
'Agri reforms need to go beyond the limited concerns of these three laws in improving agriculture productivity in cereal and crop diversification and production patterns.'
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