The Left Front' economic policies may continue to haunt the UPA government.
"Now is the time for countries with room in their budgets to deploy -- or get ready to deploy -- fiscal firepower. In fact, low interest rates may give some policymakers additional money to spend," new IMF chief Kristalina Georgieva said.
There are several welcome standalone reforms, but these do not add up to a coherent strategy to achieve a $5 trillion economy or secure Aatmanirbharta, observes Rathin Roy.
Foreign portfolio investors (FPI) have pulled out $3.5 billion from India's equity markets so far this month. The selling comes on the back of election-induced volatility and the rotation of flows from India to China, where stocks are available at half the valuations. If the selling pressure remains at the current level, this will be the highest FPI pullout since January 2023.
The government is moving ahead slowly but steadily.
Investors' wealth soared by Rs 10.58 lakh crore in three days of the market rally, where the BSE benchmark jumped over 2 per cent, and hit an all-time high on Monday. Extending its winning momentum to the third day running, the 30-share BSE Sensex jumped 363.20 points or 0.49 per cent to settle at 74,014.55. During the day, it zoomed 603.27 points or 0.81 per cent to hit its record high of 74,254.62.
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
'As much as $4 billion in India's start-up companies has come from Chinese funds.' 'Government policy must not remain indifferent to the problems India's start-up ventures are likely to face after the change in FDI rules,' says A K Bhattacharya.
False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
Global investors say the volatility in policy and the corruption scams of the last two years cannot be erased with two days of announcements.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
This is the full text of the address to the nation by President Droupadi Murmu on the eve of India's 78th Independence Day.
The President in his address to the joint sitting of Parliament unveiled the policies and priorities of the Bharatiya Janata Party-led National Democratic Alliance government which assumed power last month after elections to the 16th Lok Sabha.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
Pointing out that these recent measures are incremental rather than radical, Moody's said, these steps will sustain higher gross domestic product growth and address some of the constraints on the country's sovereign credit profile.
Tuesday's Congress Working Committee meeting put a lid on the issue of whether the party was putting its full force behind the government's current economic decisions, which have attracted widespread protests.
New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
As many as 76 per cent of the respondents did not expect economic reforms to move forward, given the upcoming 2014 general elections.
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
Inaugurating the two-day 'Global Investors Summit' hosted by Assam, Modi said the National Democratic Alliance government has speeded up the functioning of official machinery and "we want all programmes to be completed before target".
The Indian government will present the annual budget for 2016-17 on February 29.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
CEOs expect populist measures in the Budget, to help the poor and marginalised, who make up for the largest section of voters.
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Economy still faces many challenges and 'relatively big' downward pressures such as increasing difficulties for businesses and the emergence of economic risks, the Central Economic Work Conference said.
They discussed at length India's rapid progress in the space sector, including various space exploration missions being undertaken by India, the Ministry of External Affairs said in a press release.
Prime Minister Narendra Modi has met leading American economist Paul Romer, investor and co-founder of hedge fund, Bridgewater Associates Ray Dalio, and other eminent thought leaders and exchanged views with them and briefed them about the reform trajectory of his government to foster economic growth. Prime Minister Modi is in New York on the first leg of his maiden state visit to the US at the invitation of President Joe Biden. Modi and Romer held discussions on India's digital journey, including the use of Aadhaar and innovative tools like Digilocker.
Prime Minister Manmohan Singh on Wednesday said the government will act boldly and decisively to revive economic growth.
'Investors should ideally consider equity allocations from a medium-to-long term perspective.'
'In India those who want change cannot bring about change, and those who can bring about change do not want change.'
The Bhartiya Janata Party (BJP) pulled up the government for a total policy failure, resulting in grave economic crisis.
'One wishes that today's 'take no prisoners' brand of politics would give way to an understanding of the national interest that is shared by both government and Opposition.'
... if high oil prices persist or stock prices correct sharply.
India will also play an increasingly important role as one of the Asia-Pacific region's major economic growth engines, helping to drive Asian regional trade and investment flows.
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