The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday.
Is the unusually and unbearably scorching Sun and the general laxity, bordering on laziness, among voters, responsible, asks N Sathiya Moorthy.
The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International said that taxing India's ten-richest at 5 per cent can fetch entire money to bring children back to school. "A one-off tax on unrealized gains from 2017-2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.
Inclusive growth is about enabling wider participation in the growth story, but the current if fiscal debate is about how to compensate losers using annual Budgets, says Rathin Roy.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Kate Forbes studied at Woodstock School for 3 years, and lived in India for 8 years. 'She has a heart for service and we are excited she has reached great heights at such a young age,' said her teacher Sanjaya Mark.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.
This is more than 25 per cent higher as compared to the same period of the previous year when the prime minister had 78 domestic engagements.
'Generic skills are in abundance, but technological advancements have left staple skills redundant.' 'It is why employers are now looking for alternate sources of hiring -- deploying gig workers, looking at Tier 2 and Tier 3 cities for relevant talent.'
India has entered a 'demographic sweet spot' with half of its population being under the age of 29. This 'demographic dividend' is likely to last for 2-3 decades and provides the government a unique opportunity to harness the vast potential of India's youth, points out Raj Kishore Mishra, the former civil servant turned development professional.
While the basic cover is generally of around $50,000, limits for accident and sickness are up to $500,000. Here's a list of important covers that come bundled with travel insurance.
A day after the Reserve Bank of India's (RBI's) Monetary Policy Committee hiked the policy repo rate by 50 basis points (bps), several commercial banks, including ICICI Bank and Bank of Baroda, raised their external benchmark-linked loan rates by an equal amount on Thursday. HDFC, the country's largest mortgage lender, too, increased its interest rates on housing loans by another 50 bps. In total, it has raised rates by 85 bps since May 4, when the RBI had increased the repo rate by 40 bps in an off-cycle meeting.
The government must undo the damage inflicted by the flawed policies of globalisation, and India should be converted into a country where entrepreneurs can thrive and the entire population can participate in the economy, says Arvind Kumar.
Here are all the things you need to know so that you worry about nothing but your grades, says Mahavir Chopra. Read on!
The overall rank has been propped by the third criteria of innovation and sophistication, which have ranks of 59 and 57 respectively.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy.
Many factors have been identified as key drivers of the inequality between rural and urban areas in China and India.
'Mere fundamentals will not do the trick,' cautions former commerce secretary Rahul Khullar.
The indefinite economic blockade by United Naga Council since November 1, 2016 in Manipur against the state government's decision for creation of seven new districts has severely hit supply of essential commodities, including fuel.
The announcement comes as a big relief to international students, including those from India.
Ravi Sinha is described as "highly tech-savvy", and credited with infusing modern technology in the field of intelligence collection.
Adapting to an inevitable digital intervention is India's only hope at beating a long-standing job crisis. To do so, focus on quality education and better skill development is fundamental, says Dr Yogesh Kumar Bhatt.
'I do not want to get into the number game. This time, the BJP will get unprecedented seats and vote percentage in Gujarat.'
"Fifteen years ago, I was leading the efforts to approve the historic civil nuclear deal with India. I said that if the US and India became closer friends and partners, then the world will be a safer place," Biden, who was vice-president in the Obama administration, said while addressing the Indian-American community on India's Independence Day.
United States Secretary of State John Kerry, heading a high-powered delegation of his cabinet colleagues and top military commanders, today left for India as part of his 10-day seven nation Asia trip.
No country has grown without educating its people. India's shameful lag in primary and secondary education has persisted for several decades, and the crisis in higher education is now threatening a social and political calamity, says Ashoka Mody.
'What matters is meeting the needs and expectations of the people who have voted to provide governance for the country.'
'My wife has done everything... She has had to give up a lot,' HRD Minister Prakash Javadekar tells Sahil Makkar.
With India poised to become the largest economy in the world by 2030, it cannot afford to leave half of its workforce behind.
'Online teaching requires a new set of skills to be acquired by the teacher.' 'These skills are not like foot sizes or height which can't be improved, but are like muscles which can be developed with some practice.'
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
The 5G road map pursued by India should not only move the country forward but also result in progress of weaker sections of society.
Experts say Indian students will have to accept that international space for them is shrinking.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Making a case for an optimal fiscal stance, the Economic Survey on Friday said growth leads to debt sustainability and not necessarily vice-versa. "This is because debt sustainability depends on the 'Interest Rate Growth Rate Differential' (IRGD) i.e. the difference between the interest rate and the growth rate in an economy. "With the Indian context of potential high growth, the interest rate on debt paid by the Indian government has been less than India's growth rate by norm, not by exception," it said.
Delhi BJP chief Manoj Tiwari was the chief guest at the event which was also attended by Bhojpuri singer-actor Dinesh Lal Yadav 'Nirahua'.
Emphasising that India has the potential to become a global hub for education and tourism, Union home secretary Rajiv Gauba called for a change in the mindset at the field level to make foreigners feel welcome.
Modi's BJP has promised more revdis or freebies for these assembly elections than ever before, points out N Sathiya Moorthy.
