India maintained 43rd rank on an annual World Competitiveness Index compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The 64-nation list was led by Switzerland, while Sweden has moved up to the second position (from sixth last year), Denmark has lost one place to rank third, the Netherlands has retained its fourth place and Singapore has slipped to the fifth place (from first in 2020). At eighth, Taiwan reached the top-10 for the first time since the ranking began 33 years ago (moving up from 11th last year).
If finances are wisely coordinated, it can greatly help in controlling the continuous process of rising prices. To handle your finances during inflation, this is what you should do. . .
The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International said that taxing India's ten-richest at 5 per cent can fetch entire money to bring children back to school. "A one-off tax on unrealized gains from 2017-2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.
The report suggested that the tariffs can be made simple and transparent.
The annual Edelman Trust Barometer report, released every year during the World Economic Forum's Davos summit, also showed that business has replaced government as the most trusted and is now followed by government and media in that order.
We should improve the business climate in Mumbai and Delhi, and India's ranking would immediately shoot up, says Bibek Debroy, a full member of NITI Aayog.
As per a Knight Frank FICCI Naredco report, a majority 69% of the stakeholders say that the residential sales will remain tepid or may even go down further in the coming six months.
India ranks 45th in the Legatum Prosperity Index, well ahead of China which is at the 75th position.
RIL's predominantly gas rich KG-D6 block, off the east coast, has also helped boost availability of the environment friendly fuel in the country.
The country is gripped in an unprecedented economic downturn which is certainly going to spill over into the second half of this year unless the infection rate can be brought under control.
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
'The most important priority for the next 25 years should be to strengthen our democracy so that it is supportive of social harmony, and to not just respect but to take pride in the diversity of Indian society in terms of the variety of languages, religion and religious practices and social norms,' explains Nitin Desai.
Unless the dividend distribution tax is removed, India Inc's ability to finance investments will be severely compromised.
Economic Survey says Indian carriers operate in an exceptionally high-cost environment.
The Economic Survey today pegged the fiscal deficit for 2010-11 at 4.8 per cent, lower than the Budgetary estimates of 5.5 per cent, on the back of higher realisation from 3G spectrum auction and buoyancy in revenues.
The civil aviation industry, which was hit hard by the global financial meltdown and high fuel cost, saw a strong recovery in 2010 with the domestic passenger traffic rising 19 per cent to 51.53 million, the Economic Survey said on Friday.
The Economic Survey tabled today in the Lok Sabha by the Finance Minister Shri Pranab Mukherjee, says that the whole sale price index (WPI) of food inflation rose to 13.6 per cent in December 2010 on account of unfavourable agricultural supply conditions coupled with the waning of base effects.
Nifty was up 4.7 per cent in past 4 days.
Monetary policy easing in India puts it out of step with the United States, the world's largest economy, where interest rates are expected to rise later this year
The biggest lesson China can teach India is that when it comes to sustaining a love affair with investors, nothing works better than an undervalued currency and its by-product: a current-account surplus.
'There are some encouraging signs.' 'Notice that we have not said 7%-plus, we are keeping it at 6% to 6.5%.'
The Indian economy is expected to grow around 10 per cent during the current financial year on the likelihood of fewer COVID-19-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, director general of economic think-tank NCAER. The real challenge, however, would be to sustain a growth rate of 7-8 per cent in years to come, she said. "We could see annual growth in the ballpark range of about 10 per cent. "The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
An Economic survey released by the state government said the poverty estimates provided by the Planning Commission reveal poverty ratio in the state is 30.7 per cent, 3.2 per cent more than the all-India (27.5 per cent) figure.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
Enthused by reforms and the strong fundamentals, the Economic Survey on Thursday predicted that India would bounce back to a high nine per cent growth in 2011-12 on the way to becoming world's fastest growing economy in four years.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
'This is happening regardless of the Budget.'
Modi govt must bring about reforms to kick-start big-ticket infra projects.
Government's focus on infrastructure is the biggest positive for the Indian economy, followed by the improvement in tax collections and good consumption recovery.
There will be no second term for President Kovind and no elevation for Vice President Naidu.
It is a national economic problem and one that requires a political solution hand in hand with a clear government commitment to stand behind core national assets, says Vinayak Chatterjee.
'According to the government's Economic Survey, the Indian state's generosity is not restricted to its poorest citizens. In fact, in many cases, the beneficiaries are disproportionately the well-off.'
The Finance Ministry's Economic Survey had projected a growth rate of 7-7.75 per cent.
The large current account deficit and the growing vulnerability on the external front have largely contributed towards the secular decline and the current volatility of the rupee.
The Indian services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
China and India evoked the highest levels of confidence among major economies at 45 per cent and 40 per cent, respectively. The US was at 36 per cent, Canada at 27 per cent, the UK at 26 per cent, Germany at 20 per cent, France 18 per cent, and Japan having the least optimistic CEOs with only 11 per cent very confident of growing revenues in 2020.
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RBI is scheduled to unveil its credit policy on June 3.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
Subramanian was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Senior Fellow at the Centre for Global Development in the US before joining the ministry.
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