The study said India was the top receiving country for remittances in 2016 at USD 62.7 billion, followed by China (USD 61 billion), the Philippines (USD 30 billion) and Pakistan (USD 20 billion).
About 20.8 per cent elders have lost either family members or friends due to COVID-19 and most of them believe that a better medical and health infrastructure could have saved these lives, according to a report that surveyed 3,526 elderly people in the country.
It raises three major questions - the incentive compatibility issue, the fairness issue and fiscal challenge, said Panagariya.
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If we can come up with ways of sharing property rights on the internet, why not do something similar in urban spaces, asks Ajit Balakrishnan.
India must do away with policy paralysis to ensure growth in agriculture.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
India lifted 271 million people out of poverty between 2006 and 2016, recording the fastest reductions in the multi-dimensional poverty index values during the period with strong improvements in areas such as "assets, cooking fuel, sanitation and nutrition," a report by the United Nations said.
The employment that is returning is mostly essential services required by Indian households. Most urban Indian households cannot function without a retinue of maids, cooks, drivers, cleaners, notes Mahesh Vyas.
The country's gross domestic product (GDP) growth is likely to be 8.8 to 9 per cent in the current financial year, driven by agriculture and industry sectors, Care Ratings said in a report. The country's economy had contracted by 7.3 per cent in fiscal 2020-21. The agency said the outlook for the Indian economy on almost all counts in FY22 would look seemingly better than FY21 on account of the negative base effect.
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
E-learning and work from home have forced a section of feature phones users to shift to smartphones.
Inflation and asset prices have eroded the value of money.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
Home buyers should look at smarter options before taking a loan.
Ahead of India's annual budget presentation next week, IMF's chief economist Gita Gopinath has favoured the extension of the pandemic support measures, thrust on investment in infrastructure and expanding health sectors programmes like Ayushman Bharat, and a very credible divestment path for commercially viable companies. The Indian government has provided a lot of schemes for small and medium enterprises, most of which is in the form of liquidity support, Gopinath told PTI on Tuesday. "And you want to revisit it and see how effectively that is working and see whether additional support may need to be provided," she said while responding to a question on her recommendations to Finance Minister Nirmala Sitharaman, ahead of her presentation of the annual Union Budget on February 1. It would be a good time for banks and Non-Banking Financial Companies (NBFCs) to raise capital given the attractiveness of financing conditions at this point, she said.
Agricultural incomes can be taxed without hurting farmers, as a substantial section - the small and marginal ones - will remain outside the tax net simply because their incomes are likely to be below the basic exemption limit of Rs 250,000 per annum that is extended to all taxpayers in India, finds out Ishan Bakshi.
Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the lenders in the space should not throw caution to the wind to achieve higher asset growth and returns. MFIs should not try to mimic the strategies of mainstream finance, as those serving the microfinance borrowers have a greater need to balance the social objectives with their lending operations, he said.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
US economy saw massive job losses and falling demand last year.
The Congress leader said a 'storm' was brewing on the economic front that will cause damage and hurt many.
Bengaluru-based developers, such as Puravankara Limited and Sowparnika Projects, have witnessed over 85-90 per cent of their customers being first time buyers or end users.
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
Only double-income households can buy flats in India's top 8 cities, except Mumbai
Theoretically, the currency with the public should expand in sync with the nominal income, which again moves in relation to the nominal growth rate of the economy. But the correlation breaks easily when other factors come into play, says Anup Roy.
Sticky labour laws and a difficult business environment have led to employers shifting their new hiring in favour of contract labour where social security is much lesser, says Mahesh Vyas.
A letter from an Indian homemaker to the Finance Manager ahead of the Budget!
Negotiators from nearly 200 countries have accepted a new climate agreement after the COP26 summit in Glasgow concluded its extra time plenary on Saturday with a deal, which recognises India's intervention for the world to 'phase down' rather than "phase out" fossil fuels.
Among households headed by someone who entered the US since 2000, only one-fourth were owned.
Though Indian-Americans have the distinction of being the highest-per capita income group among ethnic communities, they lag far behind their European counterparts when it comes to owning a house in the US.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
Prime Minister Narendra Modi on Saturday said the target date for achieving 20 per cent ethanol-blending with petrol has been advanced by five years to 2025 to cut pollution and reduce import dependence.
At the end of 2014, 70.17 million of China's rural residents lived below the country's poverty line.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Governments make budgets to retain and consolidate their hold on power, not to please opponents or economists. They do so by trying to gratify as many as possible without causing harm to the others, says Shreekant Sambrani.
44% of HNHs are in emerging cities and small towns.
Lenders have lined up a number of home loan products that can fit every aspirant's annual income.
Farmers with land sizes less than 0.01 hectare have an average annual income of Rs 54732 and annual consumption of Rs 61296, thereby, a debt of Rs 6564 each year. Compare this with the minimum pay for a government employee, says Devanik Saha.
Covid-19 pandemic that brought life to a near standstill in 2020 has left Indian adults poorer by 6.1 per cent in 2020, suggests the Credit Suisse Global Wealth Report 2021. Wealth per Indian adult in 2020, according to the report, dropped to $14,252 by 2020-end compared to pre-pandemic levels. On a cumulative basis, Credit Suisse estimates the drop in the wealth of Indian adults at $594 billion.
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