Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
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.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
Says operating environment for Indian corporate sector has improved during FY15
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
Indian bond yields may not spike if the government opts to increase spending when it unveils its annual budget in late February.
'He told senior journalists a few days after the Babri Masjid demolition, 'Jo hua theek hua. Maine isliye hone diya ki BJP ki rajniti hamesha ke liye khatam ho jaye.'
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.
Narendra Modi's promise to allow states a bigger say in strategising and building foreign policy is unexceptionable, says TP Sreenivasan.
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.
Other ministers who have presented five straight annual financial statements include Arun Jaitley, P Chidambaram, Yashwant Sinha, Manmohan Singh and Morarji Desai.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
He added that the risks can increase if the Chinese slowdown gathers more speed.
The five-time prime minister was re-appointed to the job on May 12 following the political circus precipitated by the unprecedented economic crisis in the island's history.
Arun Jaitley is on a 10-day trip to the US.
To a lay observer, therefore, India today presents two conflicting realities.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
Facing the twin task of fighting the coronavirus pandemic today and building a better tomorrow, the world is experiencing a new Bretton Woods moment, IMF managing director Kristalina Georgieva said
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
External Affairs Minister S Jaishankar will arrive in New York on Sunday to participate in the high-level 77th session of the UN General Assembly, which kicks off on September 20 with the opening of the general debate.
Acharya emphasised that the time is "really ripe" for land, labour and agricultural reforms in India.
Here's the full text of address to the nation by President Droupadi Murmu on the eve of the Republic Day 2023.
Responding to questions, the World Bank president insisted that this slowdown is temporary.
'It would be a huge mistake to think that Gorbachev's reforms did not achieve anything.' 'We all live in the world, which is in many respects a result of Glasnost and Perestroika.'
India's Gross Domestic Product (GDP) is expected to expand by 9.2 per cent in the current financial year, according to the Economic Survey 2021-22 tabled in the parliament on Monday. "Advance estimates suggest that the Indian economy is expected to witness real GDP expansion of 9.2 per cent in 2021-22 after contracting in 2020-21. "This implies that overall economic activity has recovered past the pre-pandemic levels," Economic Survey noted. Almost all indicators show that the economic impact of the "second wave" in Q1 was much smaller than that experienced during the full lockdown phase in 2020-21 even though the health impact was more severe, it said.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
Narendra Modi is no reformist, but here's how he could yet change the path India's economy.
The challenge of cleaning up the taxation system and introducing the goods and services tax (GST) regime cannot be underestimated.
Economists expect Modi to announce big-bang reforms.
Panagariya urged the government to undertake labour law reforms and make land acquisition more flexible to attract the multinationals.
Make in India needs policy support for access to markets.
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."
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
'A close relationship between India Inc and the government cannot help the BJP win elections.' 'While Opposition parties may feel good about Mr Bajaj criticising the Modi regime, the BJP should be seeing the indictment as a political boon,' says A K Bhattacharya.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
The Bombay Stock Exchange has re-entered the trillion dollar club worldwide.
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