India had planned to end the Eleventh Plan with a growth rate of 10 per cent but the global financial meltdown derailed it.
The failure of Finance Minister Pranab Mukherjee's Budget in slashing securities transaction tax, the status quo when it came to short-term capital gains tax, no substantial increase in exemption level for calculating personal income tax and no complete tax exemption on interest income earned by senior citizens was a huge letdown for Siddharth Kuvavala.
If economic pundits and analysts are to believe, India's growth story presents a rosy picture and it is destined to be a significant economic power soon.
India and China will remain the fastest growing economies in Asia-Pacific by expanding at respective rates of 8.7 per cent and 9.5 per cent in 2011, much above the average of the region, UN agency ESCAP said.
Sharad Pawar reckons that the NCP has value as a united, going concern, not as a gaggle of leaders in search of followers, notes Shreekant Sambrani.
The 2009 Budget had raised the rate of MAT to 15 per cent. The industry wants it to be lowered to at least 10 per cent in the forthcoming Budget.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
The country ranked 100th out of 119 countries on the global hunger index, slipping three positions from last year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Total FDI from China in India so far is about $1.24 billion
While the situation Sitharaman finds herself in may not be that good, how does it stack up against her three immediate predecessors Pranab Mukherjee, P Chidambaram and the late Arun Jaitley?
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
'Who would think of making a bank of poor women? She had vision and boldness.'
Slowdown and liquidity squeeze by RBI have put India's top 10 indebted firms in a tight spot. But they have a few options.
The country's top carmaker Maruti Suzuki India (MSI) on Wednesday said it has decided to advance maintenance shutdown at its two Haryana-based manufacturing plants by a month amid a surge in the COVID-19 cases across the country. The auto major was supposed to take the shutdown at its two plants in Gurugram and Manesar in June, but due to the tsunami of COVID-19 cases, it decided to take it one month earlier to save oxygen for medical needs. MSI noted that as part of the car manufacturing process, it uses a small amount of oxygen in its factories, while relatively much larger quantities are used by the manufacturers of components.
The stimulus packages should continue for another year or at least till October 31, he said, pointing out that the economy is yet to achieve the pre-crisis level of nine per cent.
Finance Minister Pranab Mukherjee on Wednesday said the Indian economy could grow by 7.5 to 8 per cent during the current financial year, though price rise and fiscal consolidation remained areas of concern.
The finance minister said the early signs of improvement in the Indian economy are seen despite no big recovery visible in the global economy.
Credit card major Visa International said on Thursday that its Indian operations registered the strongest growth in the second quarter of this year.
'The government is using the agencies of the government to suppress the Opposition.'
Reaffirming its commitment to economic reforms in the country, the Congress party said it wanted India to achieve 10 per cent growth rate and become a global player.
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
Epidemiologists worry there's little or no data being shared on mortality by age group and contacts traced, which makes it difficult to understand how the effects of Covid-19 might be different in the Indian population, reports Ruchika Chitravanshi
In their respective memorandums, the Federation of Indian Chambers of Commerce and the Confederation of Indian Industry asked for re-introduction of investment allowance, restoring the depreciation rate to 25 per cent and an increase in plan public expenditures, primarily in infrastructure, which would boost private investments.
The finance minister could well be on her way to setting a record of achieving the biggest single-year reduction in the government's fiscal deficit, explains A K Bhattacharya.
India's rapid economic progress over the past two decades masks its abysmal performance on social indicators.
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
According to the Central Statistical Organisation data, released earlier in the day, Index of Industrial Production grew by 16.7 per cent in January against just a per cent during the corresponding month in 2009.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
Like pharmaceutical companies globally - which used to enjoy a preferential exchange rate in Venezuela - Indian producers have been left badly stung by the collapse of the bolivar currency
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President Pranab Mukherjee has sought to counter criticism against the economic stimulus provided when he was the Finance Minister in 2009 and maintained that economy under him registered high growth rates.
Growing protectionism in their main markets - the US and the UK - has forced them to hire local workers, upending the cost arbitrage model they had built their business on.
The proposed four per cent inflation target is onerous, considering India is currently battling near-double-digit increases in prices.
Neta app claims BJP is down to 212 seats from its 2014 tally of 282.
"The unsound analysis of the said article is based on the extrapolation of data without any epidemiological evidence," the ministry said, adding the studies used by the magazine to estimate the mortality are not validated tools for determining the death rate of any country or region.
Chidambaram has been magnanimous in endorsing my book, says the former RBI Governor D Subbarao.
India needs 1.4 million hotel beds a night but has only 2.4 lakh, points out Rahul Pandit, MD and CEO of Ginger Hotels.
While Mukherjee has received number of honorary degrees, it is first such honour accorded to him by a country.
With the negative impact of demonetisation waning and the implementation of the GST, 80% of the CEOs surveyed said they were planning to hire more people in 2018
Finance minister Pranab Mukherjee said on Tuesday the Reserve Bank of India's move to keep almost all rates unchanged is line with the discussions he had with the apex bank's governor and the government's thinking on fiscal and monetary policies.
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