Two years of the NDA government have instituted significant reforms, including the passing of the GST bill in India but "cultural issues and saffronisation" have resulted in a slow incremental change instead of big bang reforms, according to a top American think-tank.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
In a landmark judgment that delivered a big blow to the government, the Supreme Court on Thursday annulled the electoral bonds scheme, saying it violates the constitutional right to freedom of speech and expression as well as the right to information.
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a 'buy on dips' strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
India's economy is in much better shape to weather tighter U.S. monetary policy.
He wants Jaitley to give investors more clarity on policies
In his opening remarks at the virtual summit of the Shanghai Cooperation Organisation (SCO), Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them.
Prime Minister Narendra Modi's landslide election in 2014 raised hopes he would draw a line under India's socialist past, cut welfare and reduce the government's role in business.
External Affairs Minister S Jaishankar on Wednesday held wide-ranging talks with his Russian counterpart Sergey Lavrov focusing on the Ukraine conflict, bilateral ties and issues relating to the G20 foreign ministers' meeting.
World Bank report on Thursday called for initiatives at the policy and institutional level to tap the economic potential it offers.
Gorbachev was the last leader of the Union of Soviet Socialist Republics (USSR).
Communist Party of India-Marxist General Secretary Harkishen Singh Surjeet said that while the Left supported the UPA government, they would not give up on their 'basic agenda'.
The European Commission urged Greece to stick to commitments it has made to reform its economy as Prime Minister Alexis Tsipras called a snap election within hours of new EU bailout cash arriving in Athens.
'Modi has sowed the seeds of a transformational change.' 'For the sake of the nation and our children I hope he succeeds.'
Member of Parliament Rajeev Chandrasekhar feels that the economy today is bankrupt due to big spending towards social welfare programmes such as NREGA.
Successive plans have allocated less resources to the Railways.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
The major driver of Mod's foreign policy can be gauged from his economic priorities such as creating employment opportunities for the youth bulge. Related to this is emphasis on manufacturing, and infrastructure development, which in turn raises the issue of FDI. He has already articulated his views on all these issues, says Rup Narayan Das.
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'India is doing better than when we took office 17 months ago'.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Though Beijing asserts the Dalai Lama's successor needs its approval, observers say it remains concerned as the present Panchen Lama, the number two spiritual leader who was appointed by it after unseating the boy nominated by the Dalai Lama, has not gained much traction in Tibet.
The government package for public sector banks, announced last Friday, has been welcomed by the stock market with the PSU banking index booking smart gains.
The Economic Survey was tabled in the Parliament on Friday.
Since 2000-01, the Indian economy has shown the tendency of being unable to absorb all domestic savings as investments.
'You know the kind of force involved in all of this. They are not good for the country where all of this will happen.'
The ruling Mizo National Front led by Zoramthanga is looking for a second straight term in the 2023 assembly polls.
Jaitley promised higher investment in roads and railways.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
Stock markets in structural bull run but there can be bouts of volatility says Ravi Gopalakrishnan, head, equities, Canara Robeco Mutual Fund
Vice President Jagdeep Dhankhar on Thursday said "dangers are emanating from outfits", including some foreign universities, doubling up as centres of subversive anti-India activities out to demolish the country's civilisation ethos and sully and muddy its growth.
Real estate biggies unhappy with status quo on RBI rate cut.
P Chidambaram said to be able to play a meaningful role in the global governance, the G-20 agenda should be sharper and focused only on those issues on which it can make a distinctive contribution, particularly, on economic and financial matters.
Over 15 years, with seven per cent growth, the Indian economy will be three times bigger.
Prime Minister Narendra Modi addressed the nation from the ramparts of Red Fort in New Delhi as India celebrates the 72nd Independence Day. This is Modi's fifth and final address as PM in the current tenure. During his speech, Modi reflected on the achievements of the National Democratic Alliance government and presented a report card of his four-year tenure. Here are the main takeaways from his address:
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