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'Mining jobs get created in the most backward districts of India's poorest states,' says Anil Agarwal.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Slight recovery in growth is expected only in July-September.
Sources in the Fifteenth Finance Commission said that they will implement the provisions after the bill is enacted and the President makes a reference to it.
FM is seen to step up the pace of sales of state assets and curb spending
Perhaps the calculation is that economic recovery will have been achieved before the next general election comes around, but such assumptions can come unstuck if current directions are not reversed quickly, cautions T N Ninan.
'The finance ministry's decision to accept the deficit target of 4.5 per cent in 2025-2026 appears to have emanated from its endorsement of the Finance Commission's view that the Indian economy will continue to remain impacted by the pandemic, adversely undermining its growth potential,' notes A K Bhattacharya.
India plans to keep its fiscal deficit within 3.9% of GDP.
The rupee appreciated by 0.27 per cent in June against the dollar.
The Modi administration has been unable to initiate key reforms.
Regardless of how the stalemate ends, the government needs to learn that regardless of its parliamentary strength it cannot take people for granted. A little bit of humility would do it a lot of good, recommends Virendra Kapoor.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
The government was exploring options to secure higher dividend payment from state-run companies.
Although there are serious risks facing the US economy in the coming year, there is also a good chance that growth will be substantially stronger than it has been since before the recession began.
Significantly, about half of the CEOs who took part in the survey indicated that they propose to increase their investments in near future, 45 per cent cited no change in investment levels, while only 5 per cent expected a fall.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
A combination of farm loan debt waivers by state governments and the implementation of the pay commission award could entail some fiscal slippages and pose a risk to inflation
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
According to the global financial services major, after the BJP's 'historic' election victory on May 16, hope for structural reforms has gone up.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
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Condusive climate across states is crucial for manufacturing growth.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
An unexpected devaluation of yuan saw it plunge the most in 20 years.
GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. "GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic," the ministry said. Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, income tax and customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months, it added.
While the April-February deficit is pegged at 5.3 per cent of GDP, the final print may be a tad lower due to revenue push and expenditure cuts seen in March, the last month of 2013-14 fiscal year, it said.
Twelve of the 21 economists polled doubted whether the government could roll out the tax before the next fiscal year begins in April.
The Budget will obviously be crucial. But US President Donald Trump may have even more of an influence than Finance Minister Arun Jaitley when it comes to sentiment, argues Devangshu Datta.
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
A report published in British journal The Lancet reckons India's working population will surpass China's in the mid-2020s.
'In the long run, the boost to farmers' incomes must come from technological breakthroughs,' says Pratap S Birthal and Digvijay S Negi.
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.
Ajit Balakrishnan offers a thinking man's guide to e-commerce controversies.
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
Arun Jaitley addressed a post-Budget press conference.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
ASK Wealth Advisors says 5 million, CMIE's estimate is 2 million and Ghosh & Ghosh said it was 7 million!
