'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
India's economic growth accelerates to 7.4% in Sept quarter
We have brought about a slew of reforms that would help improve governance and also facilitate industrial growth, Rajasthan Chief Minister Vasundhara Raje tells Sahil Makkar.
The author suggests eight reforms that all parties competing in this year's general elections should embrace.
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
It's time Rahul Gandhi became attuned to the reality of the 21st century instead of recycling failed political jargon of the 20th century,' argues Virendra Kapoor.
Union Finance Minister Nirmala Sitharaman will on Monday meet chief ministers and state finance ministers to discuss measures to attract private investments to help boost the economy. Finance secretary T V Somanathan said the meeting comes in the backdrop of strong economic recovery post the two COVID waves, and the central government has made a big push in Capex. The focus of this interaction will be on state-level issues, opportunities and challenges, which will enable us to go to a higher trajectory of investment and growth, he said.
'That is not a democratic ideal obviously, but it is a practical reality.' 'It is a consistent feature of politicians in Pakistan that their rhetoric on the army softens the closer they get to the seat of power.'
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
While many promises remain unrealised, power reforms and the creation of tens of millions of new bank accounts have helped Modi maintain his popularity
C Rangarajan, chairman of the economic advisory council to the prime minister, has called for revisiting subsidies, dividend distribution tax and tax exemptions.
The Modi government's array of economic policy has been impressive.
Manmohan Singh said Narasimha Rao can truly be called father of economic reforms in India.
India has helped the world discover the true potential of democracy and the keyword for the country today is compassion for the downtrodden, needy and those on the margins, President Droupadi Murmu said on Sunday.
The protests brought home the fact that the Sri Lankan public is in no mood for halfway measures, as voices against Rajapaksa 'family rule' and 'securitisation' of the civilian administration began sidestepping the more critical economic crisis, affecting the nation and afflicting the individual, observes Sri Lanka watcher N Sathiya Moorthy.
As per the findings, CEOs are less optimistic about prospects this year.
'Foreign policy-making cannot be shifted out of Delhi and the regional satraps, who do not have a national perspective, should not be allowed to dominate foreign policy. But regional inputs should be integral to foreign policy-making at every step of the way,' says Ambassador T P Sreenivasan.
The World Bank has retained India's economic growth forecast for the current fiscal at 8.3 per cent as the recovery is yet to become broad-based. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) last week, the economy is projected to grow at 9.2 per cent in 2021-22, surpassing pre-COVID level in actual terms, mainly on account of improved performance, especially in farm, mining and manufacturing sectors. "India's economy is expected to expand by 8.3 per cent in fiscal year 2021/22 (ending March 2022), unchanged from last June's forecast as the recovery is yet to become broad-based.
Revising India's GDP upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.
Redistribution of economic and political power, inclusion of rural areas and the rural poor in development, enhancing access to resources and employment in rural areas, focus on non-farm rural activities, education and training activities and agrarian reform continue to be important areas for public policy. In Asia in general, and in India in particular, poverty has a rural face. Rural development and poverty alleviation are thus two sides of the same coin.
That is what you will hear again after Nirmala Sitharaman presents a speech that will prove to be meaningless and numbers that will show themselves to be wildly off the mark, observes Aakar Patel.
In a move that may boost the Indian hydrocarbon industry and bring more investments into the sector, the Union Cabinet on Wednesday decided to give marketing freedom to domestic crude oil producers, allowing them to sell petroleum to any company in the local market. The move is set to be beneficial for major crude oil producers, such as state-run Oil and Natural Gas Corporation (ONGC) and Oil India, and private sector majors like Vedanta's Cairn Oil and Gas and Reliance Industries. As of May 31, India was dependent on imports for 86 per cent of its crude oil consumption; domestic production sufficed the remaining 14 per cent demand.
India is likely to be the fastest-growing Asian economy in 2022-23, according to analysts at Morgan Stanley. They expect India's gross domestic product growth to average 7 per cent during this period - the strongest among the largest economies - and contributing 28 per cent and 22 per cent to Asian and global growth, respectively. The Indian economy, they said, is set for its best run in over a decade as pent-up demand is unleashed.
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
Demonetisation will wipe out the likely benefits of a good monsoon this year, says Christopher Wood of CLSA.
'India need to look beyond the economic prism.' 'China had no qualms in taking the Kashmir issue to the UN Security Council last year -- not once, but thrice -- thus violating Indian sensitivities,' observes China expert Srikanth Kondapalli.
At a critical time in the history of the United Nations, when the global order itself may be reshaped, following a devastating pandemic, India has chosen an experienced, charming and upright diplomat to lead the Indian delegation to the UN in New York.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
The UK voted to leave the European Union after 43 years.
He will be the eighth Deputy Governor to be made Governor at RBI
Prime Minister Rishi Sunak has made a clear break with the past on UK-China relations as he declared that the "so-called golden era" of bilateral ties is over in the face of the "systemic challenge" posed by the Chinese regime to British values and interests.
The auto industry expects lower taxes and interest rates from Budget 2015.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
The Congress on Sunday gave a call to party leaders in poll-bound states to work with unity to ensure victory that will 'set the tone' for 2024 Lok Sabha polls even as it showed willingness to forge an alliance of 'like-minded' parties.
Republican presidential presumptive nominee Donald Trump would throw the United States economy back into recession, his Democratic rival Hillary Clinton said.
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