The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
Among its closest neighbours, India leads in income levels or overall economic empowerment. However, it also leads in terms of income inequality, due to which the inequality-adjusted HDI suffers a bigger fall.
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
Piyush Goyal, who held the post of finance minister when Arun Jaitley was undergoing treatment, told the Confederation of Indian Industry's annual session: "All stakeholders, including the RBI, should introspect on their respective roles (on low economic growth)."
India needs to move towards full capital account convertibility to become a leading global economy.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
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.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
Modi launched a scathing attack on the Congress alleging that the opposition party has become outdated and has always been against any kind of reservation.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
India, he said, has opened up its markets and stepped up public investment including in the infrastructure space and is concentrating a lot on boosting expenditure to improve the quality of rural life
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
The Minister of State for Commerce and Industry said there was a need of for promoting trade and investment as it is necessary for economic growth and sustainable development.
India is set for decent growth in 2015.
In all, 37 central banks around the world have eased monetary policy so far this year to boost growth, fight deflation or both
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
Union Minister Kiren Rijiju on Tuesday said the Congress and other opposition parties have brought the no-confidence motion against the Narendra Modi government in the Lok Sabha at a 'wrong time and in a wrong manner'.
'Last year, India exported more software than Saudi Arabia exported oil.' 'Last year India got $83 billion of private equity.' '50 percent of India's FDI has come in the last five years.'
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
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The economy grew at a four year low of 4.4 per cent in the April-June quarter of current year.
The government's programmes should be expected to generate some momentum, but the macro-economic numbers are not encouraging, observes T N Ninan.
Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
Singling out India and China for the impressive growth in recent years, the Human Development Report-2003 of the United Nations Development Programme says bridging regional variations is a key challenge that confronts the two large economies.
As per a PMO statement, Modi told the investors that "he believes in a fair, predictable and consistent tax system
The Reserve Bank on Wednesday hiked key benchmark policy rate by 25 basis points to 6.5 per cent, citing sticky core inflation. This is the sixth time interest rate has been hiked by the Reserve Bank of India (RBI) since May last year, taking the total quantum of hike to 250 basis points. Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) by a majority decided to raise the policy repo rate by 25 basis points and keep a 'strong vigil' on inflation outlook.
Growth forecast has been lowered owing to tepid growth in the first half of 2017-18, the lingering effects of demonetisation, transitory challenges of GST, and some risks to agriculture stemming from a spotty monsoon.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
'Indian families' needs and expectations have gone through a revolution across economic demographics.' 'As this latest Modi-Sitharaman Budget demonstrated, politicians have understood this change. They are responding to it,' points out Shekhar Gupta.
A report stated that despite initial setbacks from demonetisation and Goods and Services Tax, "all in all" the Indian economy has done well.
India, Asia's third-largest economy, is likely to grow 5.3 per cent in 2013, the OECD said, lower than the November forecast of 5.9 per cent.
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
'ISRO's style is a terrific example of being able to survive, acknowledge failures, and then most importantly of all, learn from them to ensure that subsequent missions are successful.'
Get more people working, get more people working in modern manufacturing and services in our cities, and get people working better and longer, suggests Naushad Forbes, past president, CII.
'The BJP's real weapons are Hindutva, organisation and finance.'
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