Bad government and inadequate infrastructure has prevented India from matching China's economic growth although both nations started reforms in early 1990s, the Fortune magazine said on Friday.
Reforms under the Modi government will maintain a slow and tentative pace, constantly wary of political opposition. It may not be reform by stealth, but it is reform on the quiet, says A K Bhattacharya.
The report said the Gujarat government amended the Industrial Disputes Act in 2004 to allow for greater flexibility in the labour market for special economic zones.
'There is a huge constituency that upholds this ideology.' 'Hindutva will remain relevant in our public life in the near future as an ideology and in politics as well.'
Speaking at a defence industry outreach seminar, PM Modi said India's self-reliance on defence capabilities will boost its standing of being a net security provider in the Indian Ocean and make it a defence supplier for many friendly countries, depending on strategic ties.
Buoyed by an increase in public investment and incentives to boost manufacturing, India's economy is expected to grow by 8.3 per cent in the fiscal year 2021-22, less than the previous projection early this year before the country was hit by the second wave of the COVID-19 pandemic, the World Bank has said in its latest report. World Bank chief economist for the South Asia Region Hans Timmer told PTI here that when one looks at the high frequency data, they see that as a result of the second wave of the COVID-19 pandemic, the recovery paused, and some indicate that the recovery actually declined briefly. "We project for this fiscal year 8.3 per cent (growth rate for Indian economy) that is less than we projected early in the year before the health crisis caused by the second wave. "Given the sharp contraction of the economy last year, it might not look like a lot, but in my view, that is actually very positive news, given the violent second wave and the severity of the health crisis," he said on Thursday.
The Planning Commission on Monday asked states to undertake labour law reforms to generate employment, but cautioned that even 8 per cent annual economic growth would be insufficient to absorb the jobless populace.\n\n\n\n
'The Modi government is about privatising profits and nationalising losses.'
The Confederation of Indian Industry rated the performance of the NDA government on the economic front "excellent" even though the reforms agenda was unfinished.
'Just as coronavirus has come to us from China, this disease is also coming from that country.' 'India is a strong democracy and you cannot compromise on labour laws in this manner.' 'These changes will be challenged in court.'
Current account deficit is expected to narrow to 1 per cent.
Deputy Chief Minister and NCP leader Ajit Pawar said farmers as well as the NCP and other parties are opposed to the new bills. "Farmers think that the laws are not beneficial for them. There was no hurry (to pass them)," he said.
In 1930, John Maynard Keynes predicted that by 2030 technology would be so advanced that three hours of work per day would suffice. Has AI brought about the transformation that Keynes predicted, asks Atanu Biswas.
Planning Commission Member N K Singh on Wednesday said there was a need to continue with crucial economic reforms to sustain eight per cent GDP growth.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
This is the full text of the address to the nation by President Droupadi Murmu on the eve of India's 78th Independence Day.
The next government in these states may find it tough to push economic growth through long-term reforms, which would be necessary.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
For trust in democracy to be retained, elections need to be not just free of intervention -- ruling out Pakistan and Russia -- but also demonstrate the capability to both deliver ruling mandates and hold the potential for large swings in favour of the opposition, points out Mihir S Sharma.And, after an election is done, they need to see a mandate in order to go back to their lives and let their representatives get on with the business of government, points out Mihir S Sharma.
'They were very vocal on the defence of the Constitution, reservation, SC/ST Act and democratic rights.'
The National Democratic Alliance won 64 seats.
It's time we dispensed with the paper trail and shifted all labour law paper, workflows and permissions online.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The finance ministry has kicked off the budget exercise for 2005-06, discussing with four ministries the expenditure outlay and areas of austerity measures besides working on the broad contours of tax reforms.
BMS, a union affiliated to RSS, plans rally at Delhi's Ramlila Ground on Nov 17; SJM to protest on Oct 29.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The blueprint submitted to the prime minister identified agriculture, infrastructure, manufacturing, education and sustainability as five key areas of focus. The government should 'encourage infrastructure funding by mandating five or six institutions to create an infra bond market", IMC president Gul Kripalani said in the Action Plan submitted to the prime minister.
India can become a $6.7 trillion economy by 2031, from $3.4 trillion currently, if the country clocks an average growth of 6.7 per cent for 7 years, an S&P Global report said on Thursday. India had clocked a 7.2 per cent GDP growth in 2022-23 fiscal. But a global slowdown and lagged effect of a policy rate hike by RBI could slow down growth to 6 per cent in the current fiscal, S&P Global said in a report titled 'Look Forward: India's Money'.
Rural India was left to fend for itself by those who ruled the country earlier, Modi said in a swipe at the Congress.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
'The jobs that are being created now are the delivery boy jobs which are of extremely poor quality, or contractual jobs where you hire a person on a per piece basis.'
With GDP growth improving to a nine-quarter high of 5.7 per cent and the stock market brimming with optimism, now is the time for Modi to keep his promises.
If Mr Modi and his team expect to win the 2019 elections, groundwork for improved performance in their second term should be done now.
Increasing female economic participation by ensuring equal work opportunities for women and expanding access to education and skills training for female entrepreneurs.
Standing by his cycle, the 36-year-old from Punjab Moga's district said he could have taken a bus or a train to Delhi, but that could mean his family would have to go hungry.
Trade unions reiterate the call for countrywide general strike on September 2 against the "anti-worker and anti-people policies" of the government.
Domestic factors are a bigger constraint for India's shift to a faster growth trajectory than the global factors, CRISIL's chief economist says.
