The government plans to raise resources to finance capital spending beyond the Rs 3.10 lakh crore budgeted for 2017-18 through higher borrowing or divestment receipts.
Why did we go into nationwide lockdown when we were adding 100 cases a day and why are we not going into lockdown but allowing cricket stadiums, political rallies and Kumbh Melas when we are adding 40,000 cases a day? asks Aakar Patel.
This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, despite the festival season.
However, independent economists are not as gung-ho as the finance ministry over the likelihood of deficit target being met this time around, says Indivjal Dhasmana.
Despite the relaxation of the one-child policy in 2016, the number of live births per 1,000 people fell to a record low of 10.48 in 2019, down from 10.94 in 2018.
'Slowing down of the economy was mainly due to the demonetisation shock...' 'If you cut off the oxygen supply to a patient in the ICU and the patient dies, the patient does not come alive again when you restore the oxygen supply.'
Moody's rates India's outlook at stable.
While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
On reforms in pipeline, she said the government is for universal right to minimum wages and wants to remove regional disparity through a national floor wage.
There is a near consensus that at least a 25 basis points cut, if not 50, can be expected in the June policy.
Former Reserve Bank of India governor Raghuram Rajan said that Rs 65,000 crore is required to help the poor affected by the coronavirus-induced lockdown. He also laid stress on the need to restart the economy while taking precautions.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Referring to demonetisation of high value currency notes, Jaitley said it was well received as 'imandari ka utsav.'
'A balanced head plus heart approach would be a full opening up of the economy including manufacturing and internal travel in the country but excluding COVID-19 hotspots,' recommends Jaimini Bhagwati.
According to a study -- Global Growth Generators: Moving beyond 'Emerging Markets' and 'BRIC' -- conducted by global financial giant Citi, India will emerge as the world's number one economy and have a per capita GDP of $40,000 by the year 2050.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
In our view, the overall fiscal consolidation could impart a negative fiscal impulse after 3 years of positive impulse.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
'The most important thing is that the psychological signal it is giving to the markets and international markets,' says former finance secretary Arvind Mayaram.
Union Budget had projected the fiscal deficit at Rs 5.56 lakh crore.
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
India is currently under the 21-day lockdown since March 25, with only essential services exempted to contain the fast-spreading virus.
'Several businesses like entertainment, hospitality, travel etc would never be the same again.'
Projecting acceleration in India's GDP growth to 9% for FY 2011-012, Economic Advisory Council to Prime Minister seeks measure to address serious supply bottlenecks.
India's economic growth slowed to 7 per cent in the three months through June from 7.5 per cent in the previous quarter
Both the government and RBI are expecting the CAD to be below $56 billion in the current fiscal compared to the record high of $88.2 billion, or 4.8 per cent of the GDP last fiscal.
Many governments, especially in the developed world, have resorted to massive stimulus measures to bolster their economies since the 2008 global financial meltdown.
Fiscal measures may fall short or prove to be too late to achieve the revised budget deficit target, it says.
At the pre-Budget meeting at Niti Aayog, Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy. The participants urged the government to focus on credit expansion, exports growth, governance of PSBs, increasing consumption and job creation.
'This is a period of significant uncertainty, of unknown unknowns.'
India's current account deficit which narrowed in the second quarter of this fiscal, however, is likely to widen during the second half of FY 2013-14 as seasonal demand bring in more imports, an HSBC report says.
The minutes of the December MPC meet reveal members felt the current spike in the headline inflation rate was due to a temporary supply shock on the food front, expected to moderate by the second quarter of 2020-21.
Like on Pegasus, like Covid, there have been no answers from the government about why the situation on the economy and India's future is where it is today, notes Aakar Patel.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
Revising up inflation bands for the central bank will hurt the poor, former deputy governor of RBI Viral Acharya said on Wednesday, terming the current 4 per cent midpoint on price-rise as a "reasonable target".
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
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