Practising Indira Gandhi's brand of socialism today will not just be anachronistic but also economically harmful.
Domestic equity markets are in elite company. In May, Indian markets joined select developed markets (DMs) such as the US, UK and Germany to record new all-time highs. Among emerging markets (EMs), Brazil is the other market to have logged new highs this month. Asian peers such as South Korea, Taiwan and New Zealand are currently between 2 per cent and 10 per cent below their previous highs made earlier this year. The domestic markets were among the worst-performing major global markets in April amid a lethal second-wave of covid-19 infections.
'Modi knows he will fail if he does not afford Muslims, Christians or even other backward Hindu classes the opportunities and means to improve the quality of their lives. Prosperous and educated people are less prone to rioting,' says Maneck Davar.
The meet will focus on the recent global economic developments, challenges and collective measures to address them
The government, he said, has implemented 'bold reforms'.
The global lending agency also said that Brexit has resulted in global economic uncertainty.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
The BJP government is no better than the Congress -- as wretched and anti-people. In addition, it is explicitly and aggressively communal, says Venkatesh B Athreya, in a hard-hitting interview to Shobha Warrier/Rediff.com.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Here's the full text of the maiden address to the nation by President Droupadi Murmu on the eve of Independence Day 2022.
Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
'We believe 2017 could see higher flows from foreign institutions as money comes back to growth markets like India.'
Union Agriculture Minister and Nationalist Congress Party President Sharad Pawar said on Friday there was no Modi wave in the country but argued that the new government at the Centre should be stable in the larger interest of the economy and the country. He observed that development would be a major plank in the run up to the coming parliamentary elections.
The statement said that the global economy is being held back by a shortfall in demand, while addressing supply constraints is key to lifting potential growth.
The government on Friday announced several relief measures including deferring one-time registration fee, lifting the ban on purchase of petrol/diesel vehicles by its departments and allowing higher depreciation, but it remained non-committal on the demand for a reduction in GST rates.
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.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
The article is in stark contrast to the TIME cover story done on Modi earlier this month titled 'India's Divider in Chief', written by Aatish Taseer, son of Indian journalist Tavleen Singh and late Pakistani politician and businessman Salmaan Taseer.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The report said South Asia is expected to be the fastest-growing region.
The Union Cabinet on Wednesday approved the participation of the private sector in the entire range of space activities, including planetary exploration missions, Union minister Jitendra Singh said. The newly-created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies to use Indian space infrastructure, Singh, who is the minister of state in the Prime Minister's Office, said.
The seventh Tibet Work Forum was held in Beijing on August 28 and 29. Delhi should be deeply concerned, at a time India faces a precarious situation in Ladakh, because the TWF also defines China's western border policies, observes Claude Arpi.
Non-resident Indians (NRIs) are very positive about India
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
Narendra Modi's success at the BRICS summit is the best Diwali gift for India's diplomacy and marks her ascendancy to global leadership, says Tarun Vijay.
The focus of the Union Budget is on providing basic amenities to the poor, middle class and youth, Prime Minister Narendra Modi said on Wednesday, and asserted that it is imperative that India becomes self-reliant.
Addressing the 2nd India-Brazil-South Africa (IBSA) Summit in Brasilia on Thursday, he said the grouping of leading developing economies must speak against the protectionist policies, "which are only shortsighted and self-defeating in the long run".
Xi arrived at the Nyingchi Mainling Airport on Wednesday and was warmly welcomed by local people and officials of various ethnic groups, Xinhua news agency reported.
Indian airlines are expected to post a consolidated loss of $4.1 billion this fiscal, similar to what they are estimated to have incurred in 2020-21, taking the total losses of two years to around $8 billion as a result of the pandemic so far, aviation consultancy and research firm CAPA said on Thursday. In a report, CAPA expects domestic passenger traffic to be around 80-95 million in 2021-22 as against 52.5 million in the previous financial year. However, despite this growth, it will be well below than around 140 million passenger volumes recorded in 2019-20, CAPA said in the report. This projection of the traffic volume does not take into account the anticipated third wave of the pandemic, it added.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
Srikanth Kondapalli on what to expect from the seventh BRICS summit meeting to be held in Russia in July.
China sees India and Japan's 'North East Road Network Connectivity Improvement Project' as a challenge to its OBOR, says Rajaram Panda.
The Indian business community wants to see a strong stable government with a willingness to reform, break down the shackles of the past which is holding India back.
Outlining seven principles of engagement for closer cooperation between India and China, Prime Minister Manmohan Singh on Thursday said the two countries should show sensitivity to each other's interests and sovereignty and move quickly to resolve the boundary issue.
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
