'I want us not to underestimate Indian voters. They can tell good work from bad.'
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
In 1930, John Maynard Keynes predicted that by 2030 technology would be so advanced that three hours of work per day would suffice. Has AI brought about the transformation that Keynes predicted, asks Atanu Biswas.
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
India has assured global investors of a stable policy regime, stating no government initiative has ever been reversed or questioned in the past two decades.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
It is our only chance of avoiding a repeat of our catastrophic second wave, asserts Naushad Forbes.
Thimpu apparently didn't think it necessary to take Delhi into confidence. Bhutan is loathe to getting dragged into the geopolitical rivalry between India and China. And for Beijing, this was too good an opportunity to be missed to thumb its nose at the powers-that-be in Delhi, points out Ambassador M K Bhadrakumar.
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
'I think my first obsessive, possessive and only half-requited -- as we would joke -- 'love' was Ivan. I saw him first slouching down the corridor of St Stephen's College nearly 50 years ago and was instantly smitten (as was everyone else around him).'
Over 200 world leaders, including former presidents, prime ministers and ministers have backed a campaign urging the Group of Seven (G7) rich nations to help vaccinate the world's poorest from low-income economies against COVID-19 by paying two-thirds of an estimated $66 billion required.
'As we gird ourselves for rising infections, India's harsh lockdown remains an epic tragedy,' observes Rahul Jacob.
Prime Minister Manmohan Singh, on Saturday, left London for home after a three-day visit to Britain during which he participated in the G8 Summit.
Seeking urgent steps by mobile operators to check call drops, regulator TRAI on Wednesday said their performance would be reviewed after 15 days and warned it will "cross the bridge" if they fail to do the needful.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
From parity in 1980, China's economy has outgrown India's fivefold to $10 trillion
Comparative to other Asian GDP growths, India would have the fastest economic expansion, it said
A day after BRICS (Brazil, Russia, India, China and South Africa) nations agreed on a $100-billion foreign currency reserve pool to tackle the volatile foreign exchange markets, India on Friday said the pool would act as a buffer arrangement, adding it might not withdraw anything from this reserve.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
The previous United Progressive Alliance government had permitted up to 51 per cent foreign direct investment in multi-brand retail but the current National Democratic Alliance government is opposed to it.
Prime Minister Narendra Modi on Sunday termed the BRICS as 'Building Responsive, Inclusive and Collective Solutions'.
The G-8 summit provides a useful window seat for Dr Singh to assess the intensity of the 'new Cold War'.
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
"I am an economist. He is a lawyer. How can he be better than me," Swamy, whose antagonism for Jaitley is open, said at an event in New Delhi on Saturday.
PM's announcement were focused on those most affected by the note ban.
India's dependence on imported crude oil to meet domestic demand has been a matter of concern for years. Delivering the inaugural address at the global energy summit - Urja Sangam - in 2015, Prime Minister Narendra Modi had called for enhancing domestic oil and gas production to cut the import burden. He aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence. But this target is far from being achieved and the country's import reliance has only risen.
As India suffers and the ruling party is on the defensive, the truth is that the only way that this wave will pass is if exponential growth of the virus stops on its own, asserts Aakar Patel.
Domestic and foreign companies pour in a slew of investments in Gujarat.
Earning goodwill of the people of Jammu & Kashmir was necessary before such a move, the former prime minister said.
An alert government in Delhi should have begun government-to-government discussions with Moscow the moment it came to know that Russians were developing a vaccine. That is to say, almost an year's time has been lost, observes Ambassador M K Bhadrakumar.
Acharya emphasised that the time is "really ripe" for land, labour and agricultural reforms in India.
The WTO has fixed an external reference price (ERP) for rice at Rs 3.52 per kg
The 90-day compliance window to declare overseas wealth ends on September 30.
Their research paper on aid by rich nations got leaked
'Will people who buy iPhones stop buying iPhones to help swadeshi models?' 'There should be some advantage for the consumer to make them buy a Made in India product.' 'Patriotism and nationalism are good words, but in business, it won't work.'
Prime Minister Narendra Modi was on Friday named 'Asian of the Year' by a leading Singaporean press group for being focused on India's development and getting the world "excited" about the prospects of the country again.
