Modi's government sees itself in a sweet spot with spare cash.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from the country's robust growth outlook and still-resilient external finances. It said India's robust medium-term growth outlook is a key supporting factor for the rating. A clear improvement in corporate and bank balance sheets, which were under strain prior to the pandemic, is likely to facilitate a steady acceleration in investment in the coming years.
Outfits related to labour and agriculture critical of policies, say their voices are not being heard. Archis Mohan reports.
H-1B visa reform bill introduced in US Senate
The remarkable feature of those reforms unveiled in 1991 is that none of those decisions has been disowned by subsequent governments in the last 25 years.
The government has not done its homework or made any attempt to forge a consensus on this matter that affects millions of people in the organised sector, says Harsh Roongta.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
Echoing Prime Minister Narendra Modi's views that improving the health of financial markets alone cannot fuel growth, G20 business leaders on Friday said vigorous efforts should be made to go beyond fiscal and monetary policy to kickstart world economy and create jobs.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
The Economic Survey called for improving business environment.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
Qatar's efforts to prevent the abuse of migrant workers have been "woefully inadequate" since the Gulf state pledged to confront exploitation following an outcry over the 2022 World Cup, Amnesty International said on Wednesday.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
India has emerged as one of the top three choices for investments in the next 2-3 years, with more than two-thirds of respondents in a survey of multinational companies (MNCs) citing the country as their number one choice for future investments. According to the FDI survey released on Tuesday by CII in association with EY, about half of the respondents see India amongst the top three economies or leading manufacturing destinations of the world by 2025.
Rio also appointed 24 MLAs as 'advisors' to various departments in his opposition less government.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
IMF cut its 2016 global growth forecast for the fourth time in the past year to 3.2 per cent, citing China's slowdown.
Manish Sabharwal is chairman of TeamLease, which has helped hire 1.4 million sales and customer service reps and logistics employees such as couriers for companies across India since it was founded in 2002.
Top gainers in the Sensex pack include SBI, Yes Bank, Tata Motors, L&T, ICICI Bank, IndusInd Bank, ONGC, Maruti, M&M, Axis Bank, RIL, Hero MotoCorp, HDFC, Vedanta, Asian Paints, Tata Steel and Bajaj Finance, rising up to 7 per cent.
One popular strategy is to hire contract workers.
Congress leader Rahul Gandhi on Wednesday said that polls can be rigged through social media, and that if social media companies want, they can make any party win an election.
Spain's soccer federation said it would take legal action to defend its president Luis Rubiales.
India moving in right direction on GST, says Panagariya.
Israel's President Isaac Herzog on Monday appealed to Prime Minister Benjamin Netanyahu to immediately halt his controversial judicial overhaul, warning that the move has put the country's security, economy and society under threat.
Economic Advisory Council to the Prime Minister (EAC-PM) chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce in Kolkata, he however said that GST has led to a lot of simplification. "The ideal GST is one that has a single rate, and it was meant to be revenue neutral.
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
Sangh affiliates believe the government's apparent anti-poor message led to their loss
The Prime Minister also underscored the importance of public sector undertakings in the country.
The four are said to be belonging to the ruling Communist Party of India-Marxist's union outfit -- CITU, one of the 10 trade unions, which were on strike on Wednesday.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
Prime Minister Narendra Modi on Sunday hosted a high tea for all National Democratic Alliance members of Parliament -- the first such event after the Bharatiya Janata Party-led alliance stormed to power in May -- and utilised the occasion to ask them to be a symbol of positive political entity.
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy "so it's another five years.We are already in (the year) 2023. "So 2027-28, India should be the third-largest economy," Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview in New York.
Bangladesh labour activists said on Friday they had joined a lawsuit in Switzerland against world soccer body FIFA for allegedly failing to use its influence to ensure people working on 2022 World Cup facilities in Qatar are treated fairly.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
The better performing states throw up more employment opportunities including at unskilled levels.
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
