'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
The unemployment rate for people aged 15 years and above in urban areas dipped to 6.4 per cent in the July-September quarter, according to the National Sample Survey Survey (NSSO). Joblessness, or unemployment rate, is defined as the percentage of unemployed people in the labour force. The unemployment rate in the September quarter of FY24 was 6.6 per cent.
The government today extended the tenure of Chief Economic Adviser Arvind Virmani by three months on a temporary basis, said a finance ministry spokesperson. His current two-year term came to an end on Tuesday.
'How many jobs will be created when you complete your course?' 'How many people will compete with you?' 'What is the minimum and maximum salary you can expect?' 'Which are the companies that will offer you a job?' 'What skills do you have to develop?' 'How long will it sustain?'
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
Resolving the TBS challenge comprehensively would require 4 Rs: Recognition, recapitalisation, resolution and reform.
The Economic Survey 2007-08 has some interesting insights for infrastructure aficionados.
"Another major policy issue in the trade sector which created a lot of heat was that of SEZs... Some fundamental policy changes are needed for the merchandise trade sector and these include checking the proliferation of SEZs," the pre- Budget Economic Survey, tabled in Parliament on Thursday, said.
Yashwant Sinha has concluded that with the Economic Survey the government has accepted economic defeat as it is unable to sustain high growth.
As per the survey, the trade sector that comprises wholesale and retail grew by 4.8 per cent to Rs 14.79 lakh crore (Rs 14.79 trillion) in 2012-13, accounted for 15.8 per cent share in the gross domestic product.
The Survey shows fiscal consolidation despite slowdown in growth.
India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-run average.
'Unsurprisingly, Trump shared Modi's podcast with Fridman on his Truth account.' 'The intentions of Trump, a transactional president, are never easy to tell.' 'We will know in the next fortnight if and when he unfolds reciprocal tariffs on Indian goods, whether Modi's flattering words made any significant difference to Trump's compass,' notes Ambassador M K Bhadrakumar.
The Economic Survey 2009-10 on Thursday made out a strong case for liberalising foreign direct investment policies for health insurance, rural banking and higher education, stating FDI can boost trade in services.
One could argue that India is not troubled in the same way as China is by a declining population and structural problems in real estate/construction and finance. But India has serious trade and fiscal imbalances, and excessive dependence on capital expenditure by the government, points out T N Ninan.
The Economic Survey said that a number of indicators -- GDP, IIP, credit, investment and capacity utilisation, point to a deceleration in real activity since first quarter of 2016-17 and a further deceleration since the third quarter.
The 2005-06 Survey tabled in Parliament said the Indian industry needed to be unburdened from high level of taxes and distortive exemptions that provided perverse incentives.
At the same time, the survey also suggested broadening the long-term debt markets by liberalising the investment norms for insurance and pension funds and said that the government could consider a guarantee mechanism for credit enhancement of long-term infrastructure debt.
Stating that the food subsidy bill is becoming "unmanageably large", the Economic Survey 2021 on Friday suggested the government to increase the selling price of foodgrains provided through ration shops to over 80 crore beneficiaries. Foodgrains via ration shops are supplied at highly subsidised rates of Rs 3 per kg for rice, Rs 2 per kg for wheat and Rs 1 per kg for coarse grains through Public Distribution System (PDS) as per the National Food Security Act (NFSA). "While it is difficult to reduce the economic cost of food management in view of rising commitment towards food security, there is a need to consider the revision of central issue price (CIP) to reduce the bulging food subsidy bill," the survey said.
Questioning the relevance of the minimum support price regime in the politically sensitive farm sector, the Economic Survey on Wednesday recommended a broad-based agricultural development programme.
With the dissolution of former chief statistician Pronab Sen-led Standing Committee on Statistics (SCoS) by the Ministry of Statistics and Programme Implementation (MoSPI), the National Statistical Commission (NSC) has regained prominence as the primary statistical body to address issues regarding results, methodology and questionnaire, among others. A MoSPI official in an email informed the 16-member SCoS about the decision to dissolve it, citing that its work was "overlapping" with that of the Steering Committee for National Sample Surveys (NSS), which was set up in June this year.
With the Bihar government releasing the findings of its caste survey, pressure seems to be mounting on the Karnataka government, especially within the ruling Congress, to make the state's Socio-economic and Educational Census, popularly known as the 'caste census', public.
The Economic Survey has suggested that Contract Law should also be amended, which would help in utilising such labour mainly in non-core activities. In addition, the survey has observed that labour laws should be applicable to companies that pay wages to contract labour.
'... and without necessarily calling them Economic Surveys.' 'One should stick to the main focus, which is to give people a good perspective on how the economy is doing.'
The earthquake rocked many parts of Thailand including its capital Bangkok, the venue for next week's summit of BIMSTEC regional grouping that is scheduled to be attended by Modi among other leaders.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
TCS, Wipro and Infosys dropped by up to 4.47 per cent, dragging down the BSE IT index by 2.96 per cent
A cross-country comparison shows that India currently has the lowest number of taxpayers.
Union Finance Minister Nirmala Sitharaman on Tuesday commended Indian financial sector regulators for doing a "world-class job" and bringing greater transparency into the system. Underlining that she is not against questioning or critiquing regulators, Sitharaman said there is a need to be "extremely conscious" about contributions made by them as well. Speaking at the Financial Express Best Banks Awards, the finance minister said, "I strongly recommend that facts are taken on board before we discuss anything to do with the regulators, strictly speaking."
Marketmen feel the reformist wishlist prescription for the government for next five years though presents a good road-map for future growth but is hard to implement. The Economic Survey mooted the idea of doing away with cess, surcharges on taxes and initiating reforms in petrol pricing and financial sector, besides recommending a disinvestment target of Rs 25,000 crore (Rs 250 billion) annually.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Inflation has reappeared as a global issue in both advanced and emerging economies and India needs to be wary of "imported inflation", especially due to high oil prices, according to the Economic Survey 2021-22 released on Monday. "Inflation has reappeared as a global issue in both advanced and emerging economies. "India's Consumer Price Index inflation stood at 5.6 per cent YoY in December 2021 which is within the targeted tolerance band," the survey report presented in the Parliament by Finance Minister Nirmala Sitharaman noted.
The Economic Survey prescribed on Thursday a new bankruptcy law for ensuring speedy disposal of insolvency petitions. Tabled in parliament, the survey called for a new bankruptcy law to 'ensure speedy and effective bankruptcy so as to save/preserve assets for alternative use.'
The government should lift the ban on futures trading on rice, sugar, tur and urad and decontrol sugar sector, saying the resultant price discovery would help farmers and other stakeholders, the Economic Survey said on Thursday.
The central government spent a budget estimate of 19.46 per cent of its total expenditure (both plan and non-plan) in 2009-10 on social services, including rural development, against 10.46 per cent in 2003-04, the Survey tabled in Parliament said on Thursday.
The rupee had depreciated sharply during the last six months of 2011. It had reached a peak of Rs 43.94 to the dollar on July 27, 2011, and hit a low of Rs 54.23 on December 15, 2011.
The headline inflation is expected to decline to 6.2-6.6 per cent in March 2013.
As a new initiative for promoting highway development, the mode of engineering procurement and construction contracts is being brought in, it said.
Prospects of a bumper kharif harvest are expected to lower food inflation in the coming months, making the country's inflation outlook benign, the Union Ministry of Finance (FinMin) said in its monthly economic report for October released on Monday.
Already, the government's resources are strained due to various fiscal stimulus and the Survey has separately noted that high growth environment creates scope for partial rollback of these stimuli.
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