If India wants to become a globally competitive manufacturing hub, it will have to rethink the notion that the traditional SMEs will form the manufacturing backbone, argues Prosenjit Datta.
The government was going in the "wrong direction" and it was "highly condemnable" that it did not discuss the proposed changes with trade unions and other stakeholders, says BMS, trade union arm of the RSS.
The government on Friday appointed Suman K Bery as the vice chairman of Niti Aayog, following the sudden resignation of Rajiv Kumar.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
The minister said this underlying resentment and pain of those countries regarding the global economy was building up for the last 15-20 years and the COVID-19 pandemic and the Ukraine conflict resulted in prices of energy and food items going up.
Speaking at the RSS's annual Vijayadashami rally in Nagpur which was broadcast online and attended 50 swayamsevaks (volunteers) due to the COVID-19 guidelines, Bhagwat said when the Sangh says Hindustan is 'Hindu Rashtra', it does not have any political or power-centered concept in its mind.
NITI Aayog has been working on an action plan to relieve rural distress and energise the agricultural sector
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
The poisonous haze has been causing significant problems for people with existing respiratory issues, according to doctors.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Here's the full text of address to the nation by President Ram Nath Kovind on the eve of the Republic Day 2022.
He said the Fourth Industrial Revolution will have more importance than the capital.
'You know the kind of force involved in all of this. They are not good for the country where all of this will happen.'
'In India those who want change cannot bring about change, and those who can bring about change do not want change.'
Organised by Left-wing farmers' and workers' outfits, the 'Mazdoor Kishan Sangharsh Rally', began from the Ramlila Maidan and culminated at the Parliament Street.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Will help in reviving the economy and push investment.
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
Prime Minister Modi has certainly pulled back, and his political capital -- dependent as it is on an image that he knows best and never retreats -- may have taken a bit of a beating. But, equally, it is hard to say that the protesters have 'won', argues Mihir S Sharma.
India has agreed to allow import of pork and pork products from the US as a part of a bilateral trade deal which will facilitate export of Indian mangoes and pomegranate to the US. The development comes months after the two governments renewed the India US Trade Policy Forum (TPF), after which both nations agreed to iron out thorny issues that included market access issues pertaining to the agriculture sector.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
Finance Minister Arun Jaitley has said that the states were free to announce farm loan waivers if they had the fiscal space and that there would be no shortfall this year in divestment and non-tax revenues.
In the second and concluding part of his interview, Gurumurthy outlines the two areas he believes the government should focus on.
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
'The Gujarat model was never an economic model; it was essentially a governance model.'
'Mr Modi identified what would help him win votes and got it done, like 24x7 power in three phases, better roads, more water, etc.'
'Good economic governance at state level is quite different from good governance at national level,' points out T C A Srinivasa-Raghavan.
Senior IAS officer and former MyGovIndia chief Gaurav Dwivedi was on Monday appointed the Chief Executive Officer of public broadcaster Prasar Bharati. A 1995-batch officer of Chhattisgarh cadre, Dwivedi will have a five-year tenure from the date he assumes charge. Currently, he is posted as Principal Secretary, Commercial Tax, in the Chhattisgarh government. "The President of India has today appointed, after due recommendation by the Selection Committee, Shri Gaurav Dwivedi, as Executive Member (Chief Executive Officer) in Prasar Bharati for a period of five years from his assumption of charge," a statement from the Information and Broadcasting Ministry said.
Foreign Trade Policy: More incentives for exports, focus on ease of trading
All eyes will be on what the prime minister says as his August 15 addresses have often been marked by big announcements, his government's achievements and bringing to people's attention what he believes to be the major challenges facing the country.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
These events would include celebrating the centenary of Mahatma Gandhi's Champaran Satyagraha in Bihar in a big way. It was Gandhi's first mass agitation in India, where he had led a protest of peasants against forcible cultivation of indigo.
What is most troubling is that not a single party that is part of INDIA has talked about any kind of reform and economic sense, argues R Jagannathan.
Economist Abhijit Sen, a former Planning Commission member and one of the country's foremost experts on rural economy, died on Monday night. He was 72.
'The Centre and state need to take a unified approach and take concerted action before this matter assumes menacing proportions because unemployment, the drug trade and the levels of frustration among the youth make them vulnerable to any maverick who promises something better.'
From India's fight against COVID-19 to China face-off, Kovind spoke on several issues during the televised address.
'A lot has been done under the leadership of PM Modi. He is a patriot of his country. His idea of 'Make in India' matters both economic wise and in ethics. Future belongs to India, it can be proud of the fact that it's the largest democracy in the world,' the Kremlin said at Valdai Discussion Club.
President Pranab Mukherjee's recent visit to the Pacific Island nation is path-breaking, but much more needs to be done, says Dr Rahul Mishra.
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