Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
As per a PMO statement, Modi told the investors that "he believes in a fair, predictable and consistent tax system
Isn't there something significant in the UPI example for all of us to learn from and execute to enable world-scale success for our startups?, asks Ajit Balakrishnan.
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term.
Inaugurating the Pravasi Bhartiya Diwas celebrations here, he pointed out that infrastructure, agriculture, health and education were the key priorities for the second term of the United Progressive Alliance government.
India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a $40 trillion economy by 2047 from the current $3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said.
Adani Ports, NTPC, Infosys, Hindustan Unilever, HCL Technologies and Sun Pharma were among the other big gainers. However, Larsen & Toubro, Bajaj Finance, State Bank of India, Axis Bank and HDFC Bank were amonh the major laggards.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
The Indian economy is projected to grow at 6.3 per cent in current financial year aided by investment and domestic demand. According to a World Bank report released on Tuesday, India continues to show resilience against the backdrop of a challenging global environment. In India, which accounts for the bulk of South Asia region, growth is expected to remain robust at 6.3 per cent in 2023-24, India Development Update of the World Bank said.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
External Affairs Minister S Jaishankar on Sunday concluded a crucial visit to Male, assuring the country's top leadership that the Maldives remains an important partner of India in maintaining peace, stability and prosperity in the Indian Ocean region.
Why has the shift from ICE to electric slowed down despite initial enthusiasm?
Efficient land use, minimum congestion, a focus on dharamshalas (inns) and homestays, upgrading the infrastructure while retaining the historical and cultural character of the city are some of the highlights of the plan prepared by Kukreja, the managing principal of CP Kukreja Architects.
'It is important to improve the quality of spending.'
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
'There has been a huge shift. Consumer needs and requirements have changed, and differ from city to city.'
To attract capital into infrastructure projects, the ratings system needs a fresh look.
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
Kalam has asked banks to create and nurture five rural development projects similar to bio-fuel project so as to create additional employment for at least 10 million youth.
Finance Minister Nirmala Sitharaman on Tuesday said monetisation of Central Public Sector Enterprises (CPSE) assets is based on the principle of value creation for the government and investors and would bring about a paradigm shift in infrastructure augmentation and maintenance. Chairing the National Workshop with the states/UTs on Asset Monetisation organised by Niti Aayog, the minister sought the collaboration of states for the holistic development of infrastructure. She said India can become a $5 trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, through active collaboration between the public and private sector.
India on Monday joined a US-led initiative to set up an Indo-Pacific Economic Framework to bind partner countries to achieve common goals, with Prime Minister Narendra Modi asserting that New Delhi will work with the stakeholders to make it an "inclusive and flexible" structure to pave the way for development, peace and prosperity in the region.
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
Reinsurance is a cover that insurers take to transfer their risks to a third party.
'The true measure of Project Tiger's success is not just rising tiger numbers, but our ability to ensure harmonious human-wildlife coexistence'
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
DFC is the US government's development finance institution. Adani Ports and Special Economic Zone Limited (APSEZ) in a statement said that the US fund will support the development of deepwater shipping container terminal in the Port of Colombo.
Yes. Whilst public expenditure is kicking in, the key reason is the decline in private investment
China spends about 40-50 per cent of its GDP on infrastructure.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
