'If the 7 million estimate is true, then either our understanding of the past was all wrong or the economy has changed dramatically but so surreptitiously that we did not even notice it,' says Mahesh Vyas.
The war in Ukraine has made its presence felt at the World Economic Forum's annual meeting in Davos. As political and business leaders' debate, they remain fearful of Europe's economic future. There is a sense of gloom among many business leaders as energy shortage and economic recession rear their heads. Global investors are keenly assessing the presence of Indian delegation at Davos.
The rhetoric that we are fed daily needs to be measured against performance and the facts. That is not happening, points out Aakar Patel.
'The government will carefully regulate and monitor the Digital Rupee, and because the currency is supposed to be tied to INR or supported by reserves, we should expect little fluctuation in pricing.'
BJP leader Subramanian Swamy on Sunday urged the Centre to do away with the system of collecting income tax and instead find out other means to raise money to the exchequer.
'People are getting back to work.' 'The worst seems to be over.' 'It is very likely that the recovery is mostly among the informal, self-employed, workers who cannot afford to be away from work for too long,' notes Mahesh Vyas.
Housing Development Finance Corp (HDFC) chairman Deepak Parekh on Tuesday said that while the country's macroeconomic fundamentals remain strong and the recovery is in progress, the unpredictability of coronavirus will remain a key challenge. Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger, he said. "I remain confident that India's macroeconomic fundamentals are strong. Recovery is underway," Parekh said while addressing the 44th annual general meeting of HDFC Ltd. He said, the country's forex reserves and foreign direct investment inflows have scaled record highs, the capital markets are also buoyant and agriculture growth is expected to remain strong with food grain production estimated at over 305 million tonnes.
Mandates have been handed out to staffing solutions companies such as Randstad India and TeamLease, officials at these firms have said, as players increasingly push into rural areas to capitalise on the uptick in the hinterlands.
'Good investment opportunities should not be missed.'
'Some people even boldly ask for a 100% increase in the salary.'
'Maybe the State wants to be watching people all the time. But when they are watching, others too may be watching!' 'The State is becoming more and more secretive while throwing people to the wolves.'
US President Barack Obama said there is natural convergence between India and the United States.
Arshdeep has courage but needs experience
The government must realise that it has very little time to recover itself, its reputation, its legacy - and India's fortunes,says Mihir S Sharma.
Rather than a blind reproduction of the government template, a more productive way of enforcing affirmative action in the private sector could be to emulate an American model, suggests Kanika Datta.
India's work participation rate is lower than Pakistan and Bangladesh. Are Indians lazy? No, there are no jobs, asserts Aakar Patel.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Govt sees little Fed hike impact on 'fortressed' Indian markets.
In New York, the US dollar swung higher against many of its rivals on Wednesday.
Equity indices chalked up losses for the second straight session on Monday, in tandem with a bearish trend overseas as ratcheting up of hostilities in Ukraine and prospects of further rate hikes by the US Fed soured global risk sentiment. The rupee slipping to another all-time low against the US dollar amid foreign fund outflows added to the gloom, traders said. After tumbling over 800 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 200.18 points or 0.34 per cent lower at 57,991.11.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
Pvt sector holds back, waits for key reforms
India's services sector activity witnessed a sharp upturn in August on the back of stronger gains in new business, ongoing improvements in demand conditions and job creation, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from July's four-month low of 55.5 to 57.2 in August, amid a quicker upturn in business activity and the sharpest rise in employment for over 14 years. For the thirteenth straight month, the services sector witnessed an expansion in output.
The study says the entire supply chain of goods and services will suffer a massive liquidity shock.
The fundamental debate remains where you stand on the long-term growth question. That is what every investor must monitor and come to their own conclusions, suggests Akash Prakash.
The employment that is returning is mostly essential services required by Indian households. Most urban Indian households cannot function without a retinue of maids, cooks, drivers, cleaners, notes Mahesh Vyas.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
Rising unemployment rate reflects a rise in the labour participation rate, which in India's case has been worryingly low.
Modi had released the first batch of eight eight spotted felines -- five females and three males -- from Namibia into a quarantine enclosure at Kuno on his 72nd birthday on September 17 last year.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
'Our first great challenge is to create 12 million new jobs each year, to make the demographic dividend an economic dividend.' 'We are nowhere near that,' points out Mohan Guruswamy.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
'Usually, urban wage rates are 50 per cent higher than rural wage rates. But, this could be narrowing very rapidly now,' points out Mahesh Vyas, CEO, Centre for Monitoring Indian Economy.
'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
The fake university was set up by the DHS's investigating unit in Greater Detroit area to bust the "pay-and-stay" racket.
This whirlwind of activity only confirms that rushing around creating an impression of pompous busy-ness is not the same thing as solving problems, argues Mitali Saran.
