Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
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The toxic brew of fiscal populism, crony capitalism and bad economic management has ensured the collapse of economic growth, industrial stagnation, stubbornly high consumer inflation, declining savings and investment, shrinking employment opportunities, and a dangerously vulnerable external financing situation.
'This is a tragedy that must be stopped.'
Modi has the ideas for a new, hopeful India, and an idiom in which to sell optimism to voters. But he doesn't yet have the team for it, and soon enough, questions will begin to be asked by an impatient, non-ideological, I-don't-owe-anybody-anything generation of Indian voters, says Shekar Gupta.
We remain at the mercy of the global economic climate.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Japan has the capital and needs to pull out of China, which has been its major destination. India, on the other hand, desperately needs capital especially for infrastructure, argues Rajeev Srinivasan.
Prime Minister Manmohan Singh on Friday disagreed with those in the Congress who were dismissive of the challenge posed by Narendra Modi but asserted that the party would approach the 2014 Lok Sabha polls with self-confidence, irrespective of the results of the just concluded elections in five states.
Prime Minister Narendra Modi on Thursday address Members of the British Parliament in London where he promised to open more doors of cooperation between the two countries and delved on issues like terrorism and United Nations reforms.
The US foreign and security policy establishment, says Ambassador M K Bhadrakumar, apprehends that Trump may compel them to exorcise the 'unipolar predicament', and bring foreign and security policies to reflect the desires and priorities of the American public.
Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), India's largest mortgage lender, says the exuberance in industry about the new government is justified but big ideas articulated by the prime minister need speedy implementation.
'It has a natural inclination to foster as much competition among civilian politicians as possible.'
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
"Will anybody want a servant that who is on vacation when needed at home? And nobody knows where he is," he continued.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
Businessman P C Mustafa wants Indian Americans to return home, Cognizant CEO Francisco D'Souza outlines how Indian tech companies could grow, Gaurav Dalmia has some investment recommendations while Subramanian Swamy warns that India is flirting with a debt trap.
The India that needs strategic alliances, defence cooperation and engaging meaningfully with neighbouring countries is quietly moving ahead with confidence, says Tarun Vijay
Unless Dr Urjit Patel starts clearing the balance sheets of banks, the investment cycle will not start. Unless the clog in the drain is cleared, further lending cannot happen. If further lending doesn't happen, the investment cycle also will not happen, writes M R Venkatesh.
The kind of people Narendra Modi has chosen, the decisions he has taken and the rail and central budgets suggests that he is treading carefully in New Delhi. There is less of innovation and more of continuity, so far. He is not ready to rock the boat and start from scratch, says Sheela Bhatt.
The author meets the brains behind Unocoin, the first Indian Bitcoin exchange and merchant processor in India to have raised international funding.
Terrorism and Afghanistan were the focus points of Prime Minister Narendra Modi's talks with Uzbek President Islam Karimov on his first visit to Central Asia.
President Pranab Mukherjee on Monday addressed the first joint sitting of Parliament as mandatorily required under the Constitution after the general elections. The address is the political, economic and foreign policy road map of the Narendra Modi government and covers virtually all crucial areas.
The Union Health ministry put the number of positive cases at 82, eight more since Thursday night, which includes the woman and a 76-year-old man from Karnataka who became the country's first coronavirus fatality besides 17 foreign nationals, Health Ministry officials said.
'The Modi government's lurch toward America has not brought it any dividends so far. The Western world is simply not in a position to make big investments in India... India needs to take a leap of faith vis-a-vis China.'
'Obama's decision to end the US military involvement in the Afghan civil war needs to be welcomed as a positive development for regional security and stability. India, too, has a great opportunity opening up here if it plays its cards in sync with the spirit of the times rather than continuing to view the Afghan problem in zero-sum terms,' says Ambassador M K Bhadrakumar.
'The origins of the model of planned economic development adopted by independent India was a direct consequence of the war.' 'The war provided an opportunity for groups at the margins of Indian society to find new avenues for mobility.' 'The war also led to the emergence of India as a major Asian power and set the stage for it to play a wider role in international politics.'
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.
Two whole weeks after he landed on his feet in unfamiliar territory, Patrick Ward records what it is to be a parachute journalist in the chaos called India
'If Modi arrived like a juggernaut, he left like a jigsaw puzzle whose pieces were being dismantled bit by bit. It was as if India had seceded quietly from him.' Shiv Viswanathan's social science fiction about what India would be like in 2020.
A chat with employees at Paharpur gives you a brief glimpse into a happy and energetic workplace.
'The Modi-Xi and Modi-Obama meetings, with an interval of just 12 days, are juxtaposed superbly at a crucial point in the prime minister's life. Can Modi carve out a win-win situation with the superpower and the emerging superpower at the same time?'
The following is the full text of US President Donald Trump's first address to a joint session of the Congress on February 28, as prepared for delivery and released by the White House press office.
