Prime Minster Narendra Modi's op-ed in the German daily Frankfurter Allgemeines talks about development, New Age India and his 'Make in India' campaign. Here's the complete text of the column.
'Breaking down silos and ensuring a more integrated governance process is just as important to performance.' 'It has been a major priority in the last six years, especially in national security,' External Affairs Minister Dr Subrahmanyam Jaishankar points out when delivering the Sardar Patel Memorial Lecture-2020: India and the Post-Covid World.
Amid concerns over a slowdown in economic expansion, a research report has said that a fall in the growth rate to 7 per cent could drag the stock market benchmark Sensex to as low as 14,500 points by next fiscal.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
We can make a beginning by openly acknowledging the Russian help in 1971 victory when President Putin visits India on 6 December 2021. Showing gratitude to a friend is part of our DNA, notes Colonel Anil A Athale (retd).
Enthused by the prospects of good monsoon, the Planning Commission on Tuesday said the double digits inflation would decline by December, and sounded optimism that economic growth would exceed 8.5 per cent this fiscal.
Sudhanshu Singh, director IBBM, MM Securities, answers your mutual fund queries.
Gokhale will be visiting China for regular consultations, the Indian Embassy in Beijing said on Saturday.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
The automobile segment is our preferred area, and old favourites such as Tata Motors, Bajaj and Maruti Suzuki continue to entice us.
On a net basis, foreign portfolio investors bought Rs 446 crore worth of domestic stocks on Thursday and domestic institutional investors (DIIs) were net buyers to the tune of Rs 49.68 crore, provisional data available with BSE suggested.
Key to China's decision regarding Taiwan will be its leadership's assessment whether the US will come to Taiwan's defence, explains Jayadeva Ranade, the former senior RA&W officer and China expert.
In the global context India is looking 'very special'.
Christine Lagarde said the prospect of rising interest rates in the US and China's slowdown are contributing to uncertainty and higher market volatility.
The parade was seen as a muscle-flexing exercise by Beijing.
'What is unusual about the current period of slow growth is that it has come without an external driver -- high oil prices and/or successive monsoon failures -- as was the case with all previous periods of slowdown, going back 50 years, notes T N Ninan.
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
'It may take two years for the economy to return to normal.' 'We should ensure that the vulnerable do not dig into their savings or give up their assets because that will set them back by several years.'
It had upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms would help stabilise rising levels of debt.
With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Das before donning the hat of RBI Governor was a career bureaucrat and was directly involved in crafting of about 10 Budgets for the country including one in the aftermath of global financial meltdown in different capacities at the finance ministry. In view of unprecedented pandemic and its impact on the economy, he said the government has maintained fiscal prudence in the response to deal with the crisis.
"Many CEOs believe the country's manufacturing sector has become increasingly competitive and the economy is shifting away from its reliance on the services sector, a path that could take advantage of the broad spectrum of the nation's labour force."
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
The big lesson to learn from the world's worst financial crisis is that nations and industry should see globalisation as a friend.
The minister further cited that the IMF's global growth forecasts of 3.4% in 2016 and 3.6% in 2017 were still very strong.
Most Indians expect their personal happiness will improve over the next five years, posing a concrete benchmark against which to measure the future success of Modi govt
Companies are also worried about inflationary pressures building up.
Global rating agency Standard & Poor's on Friday reaffirmed investment grade ratings 'BBB-'long-term and 'A-3' short-term on India, saying the country's economic growth prospects and debt markets are strong. The 'BBB' rating category means an entity has adequate capacity to meet its financial commitments in the long-term.
The infrastructure spending target for 2020-25 was revised because of additional and amended data provided by central ministries, state governments since the release of the summary NIP Report in December 2019 when it was pegged at Rs 100 trillion.
Although fundamentals remain strong and its prospects upbeat after an impressive pace in 2007, the growth in India's domestically-driven economy would moderate in 2008 as domestic demand eases and exports cool, according to Moody's Economy.com, a subsidiary of the global credit rating agency.
All-out efforts are needed to mitigate the adverse impact of the Covid-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank's policy meeting.
Ajit Mishra will answer Your Questions on the stock markets on a weekly basis. Please mail your questions to getahead@rediff.co.in with the subject line 'Stock Market Query' along with your name and Ajit will offer his unbiased views.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
"It would be my hope that people understand why this particular transaction is important for us," the EAM said in Washington, DC.
Beijing did not announce expected policy support over the weekend
The highly-anticipated summit, which began early Tuesday, is the third engagement between Xi, 68, and Biden, 78, since February.
A fresh demand for the US currency from importers weighed on rupee.
'How and if India retaliates will go a long way toward determining the trajectory of this crisis.'
'China is constantly probing India's weaknesses.' 'The challenge is to implement a strategy that will allow India to buy time, gather its strength, and eventually counter China,' recommends Harsh V Pant and Vinay Kaura.
