11th-hour debt restructuring programme offered no concessions to creditors
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
Describing it as 'a very powerful order' Trump told reporters during his daily news briefing at the White House on Wednesday that he signed the order to protect American workers' jobs in an economy pummelled by the COVID-19 pandemic.
On the back of ongoing reforms and stress on manufacturing, India. he said, can look for much bigger share in global exports.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
It seems that notwithstanding the global financial crises, India is set to become a high-growth state and more of a welfare state under the new government.
As regards India, market valuations already reflect most positives.
In her keynote address at the 8th annual Global Entrepreneurship Summit, she said that despite the soaring rate of female entrepreneurs, women still face steep obstacles to starting, owning, and growing their businesses.
'The true fruits of the attack on black money, what Raghuram Rajan did for the banking system, and what technology is doing for us will come in FY19, which, not surprisingly, is the year running up to the next Lok Sabha elections.'
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
India needs to work on economic parameters to outpace China.
'We have to make doing business in India easier.'
Economic recovery is well under way in some advanced economies.
If Modi wants to be a man of history, he must make hard choices that will pay off down the road, says T N Ninan.
The PM said Japan and the Indian diaspora has a big role to play in India's growth story.
Data on the new series given by a panel on real sector statistics shows that GDP grew by 10.23 per cent in 2007-08 and 10.78 per cent in 2010-11. There are some years for which the new figures show a deceleration in growth as well. The new series has 2011-12 as the base year while the earlier series had 2004-05 and 1993-94.
He also thanked Oman for its support in anti-piracy operations.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
Global liquidity expected to continue amid ECB stimulus
Expecting India to sustain a high 8.2 per cent GDP growth in next three years, Asian Development Bank on Thursday offered up to $6.47 billion assistance during 2005-07 with special emphasis on agriculture and poor states.
Economist Abheek Barua's insight into the global and domestic economy at the turn of the financial year.
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
The UN Trade and Development Report 2010, released this week, has said the fundamental causes of the economic crisis have not been addressed and 'remain a toxic threat to stable and inclusive growth and the sustainability of the recovery'.
World Bank says India has bright prospects.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
'Our focus is not going to be metro to metro routes.' 'We will begin by focusing on metro to non-metro (routes).' 'Metro to tier-2 cities or tier-3 cities is where there is a lot of space for affordable, efficient carriers.'
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
E-commerce giant Amazon and Infosys co-founder N R Narayana Murthy's Catamaran Ventures have "mutually decided" to not continue their joint venture (JV) beyond the end of its current term. The JV, Prione Business Services, which has been running successfully for the past seven years, was coming up for renewal on May 19, 2022. The JV enabled over 300,000 sellers and entrepreneurs to go online. It also enabled 4 million merchants with digital payment capabilities, providing these small and medium-sized businesses (SMBs) and merchants access to millions of customers across the country.
Gen Rawat said the world looks at India as a country that can balance the rise of China in the region as it was showing its 'assertiveness'.
Sitharaman said that developed countries were blaming India for the impasse at the WTO, but India convinced them about its legitimate demand.
'Our first great challenge is to create 12 million new jobs each year, to make the demographic dividend an economic dividend.' 'We are nowhere near that,' points out Mohan Guruswamy.
Overall, the Survey warned that unless shifts in the vision of development were articulated and embraced, the Indian economy would lose the chance to move to a high-growth trajectory.
If Mr Modi and his team expect to win the 2019 elections, groundwork for improved performance in their second term should be done now.
Jaitley's Budget has the potential to change the face of Modi's Bharat
The government is scrambling to contain the fiscal deficit at 4.1 per cent of GDP in the fiscal year ending March
Responding to questions, the World Bank president insisted that this slowdown is temporary.
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