Chief Economic Advisor V Anantha Nageswaran on Thursday expressed hope that the economy will maintain the trend growth rate of 6.5 per cent and above for the rest of the years in the current decade. The economy will close the current fiscal logging in a growth of 6.5-7 per cent, he said, citing the projections of private sector analysts, Reserve Bank of India (RBI) and international agencies like OECD and the IMF. "This appears to be reasonable at this point in time although we will get the data on the fiscal second quarter in a few days, which will give more clarity on these numbers.
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
'UCC should be across India and legally applicable to every Indian citizen.'
Similarities between NDA and UPA on some key policy issues are now becoming too stark to be ignored, says A K Bhattacharya.
The Budget is remarkably coherent.
'Even though as Xi will seemingly continue to stay in power beyond his third term, competitions for the post-Xi leadership would be inevitably unfolded beneath the surface of water, and that will be a big headache for Xi the dictator.'
The defence minister also took an indirect dig at Gandhi for "doubting" the government's intention in the handling of the border row with China and said politics can not be done on the basis of "falsehood".
The government has changed arbitration laws, amended some 'provisions' of the Companies Act.
The conclusion is derived from a Business Standard poll of CEOs, bankers, market players & economists.
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
Doggedly persisting with its much-criticised zero-Covid policy, China has slipped deeper into the coronavirus quagmire as it reported a record 31,444 infections on Thursday with many of its cities, including Beijing, resorting to community lockdowns to stem the virus amid worsening wintery weather.
Growth in India is expected to slow to 6.3 per cent in FY 2023/24 (April-March), a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. The World Bank made these points in its latest edition of Global Economic Prospects according to which global growth is projected to decelerate from 3.1 per cent in 2022 to 2.1 per cent in 2023. In Emerging Markets and Developing Economies (EMDEs) other than China, growth is set to slow to 2.9 per cent this year from 4.1 per cent last year. These forecasts reflect broad-based downgrades.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
Finance Minister Arun Jaitley on his maiden visit as minister to Washington, DC, addresses two think thanks, leaves American Establishment impressed, reports Aziz Haniffa/Rediff.com.
'The aim of Russian policy is to reform European security, stop NATO expansion and in a more general sense -- set up the new rules of relations between the great powers.' 'From this perspective. the invasion of Ukraine is quite pointless.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
'There shall be no change in India-Japan ties,' predicts Rajaram Panda.
Says operating environment for Indian corporate sector has improved during FY15
Observing that the turmoil in global capital should come as a wake-up call for South Asia, which was the second-fastest growing region in the world in the aftermath of the global crisis, the World Bank said on Wednesday its recent performance has been less stellar, and it has been sustained by potentially volatile portfolio inflows.
Indian bond yields may not spike if the government opts to increase spending when it unveils its annual budget in late February.
Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi asserted on Monday that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as 'sustainable and reliable' growth period. In his special address to the World Economic Forum's online Davos Agenda 2022 summit, Modi underlined a host of reform measures undertaken by his government to stress that it has worked to reduce the administration's interference in business by deregulating many sectors and to clear the way for free trade agreements with different countries. India was once associated with "license raaj", he noted and highlighted the measures, including reduction of corporate tax to boost business and doing away with over 25,000 compliance requirements.
India is projected to grow at 6.3 per cent in 2015 and 6.5 per cent in 2016, when it is likely to cross China's projected growth rate of 6.3 per cent, the IMF said.
Narendra Modi's promise to allow states a bigger say in strategising and building foreign policy is unexceptionable, says TP Sreenivasan.
'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.'
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
The impact of Shinzo Abe's towering personality is such that even in death, Abe remains a polarising figure, asserts Dr Rajaram Panda.
To a lay observer, therefore, India today presents two conflicting realities.
Arun Jaitley is on a 10-day trip to the US.
He added that the risks can increase if the Chinese slowdown gathers more speed.
'The worry among many international actors is whether there will be stability to provide assistance to the government because the political developments in the last few months are a real concern.'
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
Economists expect Modi to announce big-bang reforms.
Responding to questions, the World Bank president insisted that this slowdown is temporary.
Acharya emphasised that the time is "really ripe" for land, labour and agricultural reforms in India.
Narendra Modi is no reformist, but here's how he could yet change the path India's economy.
Biden said, "One of the reasons why President Obama called our relations with India, quote, "a defining partnership of the century ahead" is that India is increasingly looking east as a force for security and growth in Southeast Asia and beyond."
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