11th-hour debt restructuring programme offered no concessions to creditors
Indian indices have hit all-time highs in the New Year and the sentiment remains strong. All valuations are also at extremely high levels, cautions Devangshu Datta
'While we may aspire to be a democratic if smaller version of China, we may only manage to become a larger, more accomplished Indonesia,' says T N Ninan.
'The government has said it has kept its powder dry to fight the true battle against the debilitating influence of the pandemic.' 'The release of the shocking economic data this week should act as the fuse for using that powder now.' 'Further delays will make the battle that much harder,' notes Shreekant Sambrani.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
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.
On the back of ongoing reforms and stress on manufacturing, India. he said, can look for much bigger share in global exports.
'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.
Union Home Minister Amit Shah and chief ministers of some BJP-ruled states were among those present at the Raj Bhavan ceremony.
As regards India, market valuations already reflect most positives.
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.
'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
India needs to work on economic parameters to outpace China.
'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.'
Economic recovery is well under way in some advanced economies.
'We have to make doing business in India easier.'
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.
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.
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.
He also thanked Oman for its support in anti-piracy operations.
The PM said Japan and the Indian diaspora has a big role to play in India's growth story.
This was the one Budget that required radical departures on all these fronts, when it had none, asserts, Shreekant Sambrani.
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.
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.
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.
Economist Abheek Barua's insight into the global and domestic economy at the turn of the financial year.
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'.
He said the country has witnessed a journey from indecisiveness to clarity and decisiveness.
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.
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.
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.
Sitharaman said that developed countries were blaming India for the impasse at the WTO, but India convinced them about its legitimate demand.
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'.
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.
'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.
If Mr Modi and his team expect to win the 2019 elections, groundwork for improved performance in their second term should be done now.
'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.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances