Glimpses of I-Day celebrations across India.
The change in the baseline for IIP and WPI, currently at 2004-05, is expected to bring in more accuracy in mapping the level of economic activity and calculating other numbers like national accounts.
Instead, 2019-20 could be the base from which the Budget estimates for next year are calculated.
Chief statistician T C A Anant says growth figure might go up once indirect tax data is fully in, however, he agrees that private expenditure is yet to pick up
The Xi Jinping regime might try to quell internal distress by directing nationalism and militarism against India, warn Ajay Shah and Gautam Bambawale.
India has much to be proud of and celebrate. But there is also much that is wrong, much that looks dangerous. Employment, current account deficit, rural distress, agricultural productivity are all in deep crisis, points out Shekhar Gupta.
The challenges before the coming Budget are more daunting than those in 2021, reveals A K Bhattacharya.
Indian Oil Corporation (IOC), the nation's biggest oil firm, on Tuesday reported a 31.4 per cent drop in the fourth quarter net profit as record refining margins were wiped away by a margin squeeze in petrochemicals and losses on auto fuel sales. Standalone net profit of Rs 6,021.88 crore, or Rs 6.56 a share, in January-March, compared with Rs 8,781.30 crore, or Rs 9.56 per share, in the same period a year back, the company said in a stock exchange filing. Sequentially, the profit was higher than Rs 5,860.80 crore in the previous quarter.
The oil sector has been quite lucky for the Modi government. It has often provided an opportunity to the government to mend its finances, notes A K Bhattacharya.
The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
Grand plan: 10% GDP growth; 175 million jobs; $10-trillion economy
'The main reason people go to other countries is unemployment in Punjab'
Political stability and a couple of big projects are pluses, but focus on medium and small industries is still missing.
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
Be it loan waiver or DBT transfer, it only helps in creating a "feel good" factor and postpones the problem for some time if structural problems are not handled.
The auto ancillary industry - one of the worst hit due to the labour exodus - will need at least three months to get its factories up and running.
RBI said aggregate demand during the year so far suggests that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-COVID-19 momentum.
'India finds itself in an unenviable situation today with its prospects diminished by acutely polarised domestic politics and the setbacks suffered during the pandemic,' notes Ambassador Shyam Saran, the former foreign secretary.
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Earlier, similar restrictions were imposed on commercial banks.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
100-day agenda: Commerce ministry pushes for separate logistics department
Indian states are preparing for a Rs 1.9 lakh crore (Rs 1.9 trillion) tax windfall this fiscal year.
'The first year of the Modi government's second term has laid the roadmap for the future and we will embark on it with gusto,' promises Gopal Krishna Agrawal, the BJP's national spokesperson on economic affairs.
Phantom FDI refers to investments that pass through shell companies that have no real business activities and are tailor-made to cut tax liabilities.
The sample size of 8,100 farmers across 19 states has not changed in the last three decades, and the methodology of the sample survey too remains unchanged
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
Once stability returns to the secondary market, companies that have obtained approval from Sebi will start tapping the market.
This time there has been a rather peculiar criticism of the latest GDP numbers.
The finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
When we look at the pension expenditure of the states, so far, there has been no gain from the NPS reform. Pension expenses as a share of total state revenue expenditure rose from 4% in 1991-1992 to 10% at the time of the NPS reform, and have risen further to about 12%, observes Ajay Shah.
Insurance penetration in India at 3.9%, below world average.
Inflation is on a declining trend, Eco Survey stated.
The surge in export, domestic demand and public spending in infrastructure projects might revive private investment during 2017-18.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
The fiscal deficit, gap between expenditure and revenue.
Most of the markets it is now looking at in hopes of gaining the next billion internet users have demographics similar to that of India.
