A rising number of Greeks in rural areas are swapping goods and services in cashless transactions.
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
For all the blame-game over the flood preparedness in Chennai and elsewhere in Tamil Nadu and Puducherry, this is not the first of its kind. Nor would it be the last, given the nature of the north-east monsoon, says N Sathiya Moorthy.
RBI's latest rate cut will bring down home, car loan's EMI.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Fed is still concerned about weak export growth.
Investors turn their attention to export-driven sectors.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
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.
'I feel now we have a leader who is non-corruptible.' 'But he needs time as corruption is deep-rooted in our society, and people have no shame about being corrupt.' 'It will take at least 7 years to make some changes.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
'India cannot expect to be insulated from the crisis. Europe is India's biggest trading partner with two-way trade of E72.5 billion or Rs 530,000 crore last year,' says Paranjoy Guha Thakurta.
Echoing the position articulated by Prime Minister Manmohan Singh, China and Russia on Thursday warned that imminent withdrawal of fiscal stimulus by the US could have an adverse impact on the global economy and cautioned the Obama administration against it.
Here's the full text of Prime Minister Narendra Modi's address to the nation where he announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight on November 8-9.
Amid imminent phasing out of the fiscal stimulus by US Federal Reserve, Prime Minister Manmohan Singh on Wednesday called for an "orderly exit" from unconventional monetary policies being pursued by the developed world for the last few years to avoid damaging growth prospects of the developing world.
'Tax dodging through tax havens is one of the ways multinational corporations and the super-rich in India are using to evade taxes.'
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
'A positive oil shock has a detrimental effect on growth and activity.'
Sanjay Mathur, managing director and head of economics research for Asia Pacific (ex-Japan), Royal Bank of Scotland, tells Business Standard that in the emerging market pack, India needs to learn lessons from Korea and Taiwan, which have managed their economic situations well.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
'We are allowing FDI on the terms of the investors, multinationals.' 'We bow down to whatever they say.' 'When they say you open this sector, we open that sector.'
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
The Forbes 5th annual '30 Under 30' list features 600 women and men.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
Markets ended in green on rate cut hope.
Watal panel had suggested an independent payments regulator be set up.
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
Emerging markets and Asia may be first in the firing line
'Demonetisation, is in principal, a mistake, because it involves a theft -- a taking of private property by the State.' 'It is one of those bad Indian ideas that has been tried twice in the past, with two failures for the record books.' 'This cloud over the economy will probably remain as long as Modi is in power.'
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
Don't catch falling knives or chase bear rallies no matter how enticing those eight pc green blips look. They may be mouse traps, warns Sonali Ranade
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Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
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'India is doing better than when we took office 17 months ago'.
A referendum will be held on Thursday, June 23, to decide whether Britain should exit (Britain's exit, hence the term Brexit) or remain in the European Union.
Flexibly targeting inflation is consistent with a demand stimulus, says Ashima Goyal.
Indian economy about to take-off
'I have never seen anybody disliked more as prime minister than Modi.' 'What is interesting is in his prime ministership, no matter whatever happens in any corner of India, Modi is blamed for it.' 'Modi has not suspended any Constitutional liberties. No Opposition leader has been put in jail... Modi is not Hitler.'
'Narendra Modi has had very good luck. Firstly, the fall of oil prices. You don't get that very often in your life and you certainly don't get that often when you are in government.' 'Secondly, the fantasy of Indian reforms has led to very strong capital inflows to have made his job much, much easier.' 'You ride the winds in times of fortune and he hasn't done that. At least, not yet.' 'Those winds of fortune which are blowing your way can certainly turn around easily. There are quite a few headwinds coming up. He may well, history will show, have missed the opportunities that existed.'
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