The drop in growth rate is subsequent to the corporate sector cutting investments by nearly Rs 90,000 crore (Rs 900 billion) in 2011-12 compared to 2010-11, according to the pre-Budget Economic Survey tabled by Finance Minister P Chidambaram in Parliament on Wednesday.
'Opportunity for a country like India is huge in terms of wealth creation.' 'That's the reason India is an attractive economy for investors.'
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
Gandhi, who is usually flanked by senior party colleagues, was also greeted by both President Droupadi Murmu and Vice President Jagdeep Dhankhar.
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The country has slipped two positions to sixth to tie with Germany, the survey by research firm Ipsos said.
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
Bihar Chief Minister Nitish Kumar on Tuesday announced his intent to raise quotas for Other Backward Classes, Scheduled Castes and Scheduled Tribes in the state, saying a legislation to the effect is likely to be brought in the ongoing assembly session.
The 50-share NSE Nifty closed at a fresh life high of 11,130.40 points, up 60.75 points, or 0.55 per cent.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
The finance ministry expects a broad-based moderation in inflationary pressures on the back of an anticipated reduction in food prices as a result of the uptick in summer sowing. The retail inflation rate remained stubbornly clung to the 5 per cent mark in seven of the past eight months. "Core inflation is trending downwards, indicating a broad-based moderation in price pressures... Driven by strong domestic growth and benign global commodity prices, core inflation is declining continuously.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Manufacturing activities in India remained robust and price pressures were contained in October as new orders and production rose at a slower but stronger pace, according to a monthly survey released on Tuesday. The seasonally-adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) was up from 55.1 in September to 55.3 in October. The October PMI data pointed to an improvement in overall operating conditions for the 16th straight month.
Chief Economic Adviser K V Subramanian on Monday said the overall impact of the second wave of COVID-19 on the country's economy is not likely to be large but cautioned about an uncertainty surrounding the pandemic going ahead. He further said that given the circumstances due to the pandemic, it is difficult to forecast if the country would achieve a double digit growth in the current fiscal. The Economic Survey 2020-21 released in January this year had projected GDP growth of 11 per cent during the current financial year ending March 2022.
Taking potshots at Prime Minister Narendra Modi over his remarks that the United Progressive Alliance government left everything empty, Congress on Monday claimed "bad days have begun for the countrymen", citing a socio-economic survey of Gujarat.
Finance Minister Nirmala Sitharaman on Tuesday met IMF managing director Kristalina Georgieva and discussed a range of issues, including impact of geopolitical situation on global growth.
But the report also said that early marriage has been declining over time.
Manufacturing activities in India gained momentum in August as new orders and output increased at the quickest rates in nearly three years, according to a survey released on Friday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 58.6 in August from 57.7 in July. Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said the PMI results for India painted a vibrant picture of the nation's manufacturing landscape in August.
Over 95 per cent of organisations in India have experienced new types of fraud incidents in the past two years, a PwC Survey said on Tuesday. Following the outbreak of the COVID-19 pandemic, the uncertainties associated with it, subsequent shift to digital operations and remote working, businesses have been exposed to new risks related to digital security, employee safety and disinformation, said the PwC's 'Global Economic Crime and Fraud Survey 2022' report.
National security advisor Ajit Doval on Friday suggested that various central armed police forces of the country should have "jointness" and interoperability among themselves like the ongoing plan for the defence forces.
Ahead of the upcoming elections, political parties have started announcing incentives to benefit women, but what do women truly seek for genuine gender parity, asks Nivedita Mookerji.
Ahead of the Union Budget for 2023-24, Budget makers have welcomed the global consensus view that India will remain one of the bright spots in calendar year 2023. But there is some alarm over the grim global situation and how that might impact the Centre's projections and assessments for next financial year. The big global headwinds include a deep and sustained recession in the West, including India's biggest trading partners in North America and Europe, continuing volatility in commodity markets, and renewed Covid-19 fears, as lifting of strict curbs by China could potentially lead to a massive spread again.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Railway Minister Mamata Banerjee will present the Rail Budget on July 1.
Manufacturing sector activities in India moderated for the second straight month in July as rates of expansion in output and new orders eased slightly, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) eased to 57.7 in July from 57.8 in June. Despite the fall, the Indian manufacturing sector maintained strong growth momentum at the start of the third quarter amid ongoing buoyant demand, the survey said.
The other dominant fear among the people is the irrational behaviour of people, once the lockdown is lifted.
According to data compiled by the World Bank, the UK's economy grew to $2.82 trillion and the French economy expanded to $2.78 trillion in 2018, against India's $2.73 trillion, showed the data.
The 'aura of invincibility' around Prime Minister Narendra Modi has been 'shattered' by the Indian voters who gave the Opposition a new lease on life, this is how the international media described the outcome of India's general elections.
Prime Minister Narendra Modi on Sunday suggested that if the Congress comes to power, it would redistribute wealth of people to Muslims and cited former PM Manmohan Singh's remark that the minority community had the first claim on the country's resources.
For the country's maiden offshore mineral mining auction, the Centre is planning to relax the rules on the number of chances for bidding. Under the newly announced draft Offshore Areas Mineral (Auction) Rules and Offshore Areas (Existence of Mineral Resources) Rules, the ministry of mines is planning to offer three chances to potential bidders in its forthcoming inaugural offshore mining auction. If a single bid is not received during the second attempt, the plan is to initiate a new round of bidding for the third time.
Buoyed by favourable policies, India has emerged as the fourth largest destination in Asia for foreign direct investment, attracting over Rs 20,000 crore (Rs 200 billion) within the first six months of the current fiscal year.
The Indian economy is estimated to grow by 6.9 per cent in 2011-12, after having grown at the rate of 8.4 per cent in each of the two preceding years.
The Survey noted that while women account for almost half of India's population, their participation in labour market is almost one-third and has been declining.
In the coming days, unless Modi tones down the communal spiel, it will be clear that anxiety continues to drive his mind and clouds his judgment, observes Modi biographer Nilanjan Mukhopadhyay.
Gandhi claimed that Dalits, tribals, and Other Backward Classes were made bonded labourers and their participation was lacking in big companies, hospitals, schools, colleges and courts.
External Affairs Minister S Jaishankar on Tuesday said it was necessary to acknowledge that China will influence India's neighbouring countries, and India must not be scared of such "competitive politics".
All components showed improvement with the exception of FDI and banking capital in the first half of 2010-11.
Both across India and the four regions - north, south, east and west - it is found that the absolute prices of a vegetarian thali have decreased significantly since 2015-16 though the price has increased in 2019.
Pushing for reforms, the Economic Survey on Thursday said inflationary impact of foreign funds flow, a slowdown in the US, an appreciating rupee and sluggish infrastructure sector were major challenges before economy that is projected to slow down to 8.7 per cent in 2007-08.
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