If the prime minister does not repeal these laws, the country will suffer, he said.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
>The farmers will go home but the country will not get the agricultural reform it badly needs -- if nothing else, then to prevent a bigger water crisis than already exists, argues T N Ninan.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
'Modi has not lacked courage in the political sphere. It is time he showed it in the economic sphere as well.' 'To do this, he needs to shed the simple-minded nostrums about economic growth and swadeshi that he learnt in the Sangh Parivar,' suggests Virendra Kapoor.
Modi's visit to some developed countries such as the US, Japan, China and Australia were sprinkled with humongous investment figures. But do we have the wherewithal to absorb such big investments?
Out of 120 members of the Knesset (Israeli parliament), Netanyahu has the support of 64 members
On eve of completion of one year of the Narendra Modi government one of the not-so-debated issues has been the indecision and confusion in selecting a cabinet secretary suitable for the National Democratic Alliance government.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Motilal Oswal of Motilal Oswal Financial Services tells Puneet Wadhwa why he thinks the current market levels will sustain.
British lawmakers will debate the issue of press freedom and safety of protesters in India next Monday in response to an e-petition which had crossed the 100,000-signature threshold required for such a debate, the House of Commons Petitions Committee confirmed on Wednesday.
Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
'We need to do more to accelerate growth.'
On the first anniversary of the Narendra Modi-led NDA government, Sangh Parivar affiliates say they are annoyed with the ruling dispensation but can't live without it either
Senior Congress leader and former finance minister P Chidambaram said the stimulus package has left several sections like the poor, migrants, farmers, labourers, workers, small shopkeepers and middle class high and dry.
For large numbers of employees in the government system, the month-end salary cheque is no longer guaranteed. So the days of the government and State-owned enterprises wanting to be ideal employers are over, observes T N Ninan.
'What will this supposedly more business-friendly government do if it gets a second term?' 'Important labour law and land reforms remain off the table.' 'Witness the arm-twisting of foreign players in e-commerce and all but one player in telecom -- and it is very hard to justify this perception that the BJP is business friendly.' 'There will also remain the real risk of ideas seemingly gleaned from the pages of Amar Chitra Katha, overlaid with PowerPoint presentations,' predicts Rahul Jacob.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
The PLA launched a campaign to stop food waste and cultivate thrifty habits in the military under the "clean plate" campaign launched by President Xi Jinping.
The post-mortem reports of the two Dalit minor sisters who were found hanging from a tree in Uttar Pradesh's Lakhimpur Kheri district confirmed that they were raped and strangulated, the police said on Thursday.
"Modi ji! Is this our Indian culture? Is this what has been taught in Vedas, Mahabharat, Ramayana and Bhagavad Gita? I am asking BJP national president Nadda ji. Is it our culture?" he asked, referring to Sarma's comments.
The Budget has to provide for capex on roads, railways, defence and other infrastructure sectors.
Gujarat and Karnataka have been ranked as the best performers in developing startup ecosystem for budding entrepreneurs, according to the ranking of states and Union territories by the Department for Promotion of Industry and Internal Trade (DPIIT). Among smaller states having population of less than one crore, Meghalaya has been adjudged as the best performer. The rankings are based on the initiatives taken to develop the startup ecosystem for promoting budding entrepreneurs.
There is no doubt that archaic labour laws governing employment of contract labour have fanned tensions at the workplace and need to be amended.
Although the RBI is not statutorily independent from the government, Rajan, like previous RBI Governors, has long valued his independence.
The job of keeping millions of soccer fans safe at one of the world's biggest sporting events would be enough to keep most people awake at night.
The Budget kept away from mood dampeners such as an increase in taxes (capital gain taxes) and even the much-feared introduction of Covid cess and wealth taxes, says Nimesh Kampani, chairman, JM Financial.
Euro zone leaders will hold an emergency summit on Monday.
If solutions are not found, adequately and in good time, things could simply slip out of everyone's hands, warns N Sathiya Moorthy.
'The Khalistanis get bulk of the money from abroad.' 'Where did Amritpal's Mercedes come from, which costs well over Rs 60 lakhs?' 'Where does his fleet of vehicles come from?' 'Local Punjabis can certainly not contribute this kind of money.'
As a consensus remains elusive on key economic policies like foreign investment norms, industry leader Deepak Parekh has said India's FDI policy is akin to 'inviting guests over to our house, but not opening the door'.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
Economist Dale W Jorgenson declares that India is doing "very, very well" and forecasts that India might continue to outrun world economies, including China over the next many years.
Fitch Ratings on Thursday said the resurgence of COVID-19 infections may delay India's economic recovery, but won't derail it, as it kept the sovereign rating unchanged at 'BBB-' with a negative outlook. It projected a 12.8 per cent recovery in GDP in the fiscal year ending March 2022 (FY22), moderating to 5.8 per cent in FY23, from an estimated contraction of 7.5 per cent in 2020-21. Fitch had in June last year revised outlook for India to 'negative' from 'stable' on grounds that the coronavirus pandemic had significantly weakened the country's growth outlook and exposed the challenges associated with a high public debt burden.
A party without a 'high command' would be 'anarchy,' he said.
'A sustainable growth rate of 8 per cent is evidently some distance away,' says T N Ninan.
The new cabinet, predictably, has a sizeable number of Yadavs and Muslims, though members of other sections of the society also find a place.
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
