A shocking fact revealed by a pan-India survey that was flagged at a seminar of Dalit intellectuals
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 National Council of Applied Economic Research (NCAER) on Thursday lowered the GDP projection for the current fiscal to 4.7-4.9 per cent due to exchange rate depreciation.
De-scaling of businesses, job losses and subsequent impact on disposable incomes has created negative sentiment among traders, business owners and workers alike, says Abhishek Waghmare.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
NCAER said the monetary policy measures are unlikely to revive growth at this juncture and suggested providing fiscal stimulus, which too can be challenging unless it can be financed through better revenue generation.
'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
Although the credit for acquiring the technological skill must be given to India's outstanding nuclear scientists, the decision to go nuclear was a political one that entailed clarity of vision, courage and resolve, points out Rup Narayan Das.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
The report by the High Level Advisory Group said India stands to benefit even more when the US and China are locked in a global trade war.
His vision drove ITC to pursue business models that today support over 6 million livelihoods, many amongst the weakest in society.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
'One way to deal with these is to address these quickly and have rapid reaction teams in New Delhi, the state capitals and wherever possible.'
Several speakers noted that Budget carried the weight of expectations.
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The Finance Ministry had set a time period of 18 months, which expired last year on August 21, for completion of the study.
It was better to first build a single-rate GST with a low rate, achieve full mastery of this, and then consider more complex possibilities such as high rates and multiple rates.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
This makes him corporate India's biggest donor to society.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
At a time when investors are taking a "wait and watch" approach on fresh investment, Tamil Nadu in the past 10 months has signed 63 MoUs, enabling investment worth Rs 19,083 crore. After Palaniswami took over as chief minister in February 2017, cumulative FDI rose by Rs 46,427 crore from Rs 133 trillion (April 2000 to March 2017) to Rs 180 trillion by June this year. Thanks to the Tamil Nadu Business Facilitation Act, 2018, and the single window for applying and getting clearance for doing business, the ease of business issue has been addressed.
'Outside investors don't want to get tangled up in a religious war.'
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
Asked why the United States was targeting Putin's daughters, a senior Biden administration official said the US thought they could be in control of some of their father's assets.
'At the heart of the strategic relationship between our countries are economic ties.'
'At this stage, you should distribute money and food.' 'Like you queue up to vote, let people queue up to collect this.' 'This will arrest the decline in demand which will have a multiplier effect on the demand side for the economy as a whole.' 'The government should earmark about 2% of the GDP for this.' 'And this should be the first step to revive the economy.'
A reformed Planning Commission should reflect the diversity of Indian debate.
A strong proponent of the GST, Adi Godrej has been saying for five years or more that it will add one per cent to India's gross domestic product (GDP).
'Rahul inspired Indian industry with an ethos, an ethos of being more confident, more independent, more thorough, more competitive, more generous, more public-spirited, and more national and more international all at once,' remembers Naushad Forbes.
Neutrality and jurisdiction in international trade need to be discussed threadbare before GST is implemented in India.
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
Arvind Panagariya speaks about climate change, globalisation and India's economy.
What will it take to get India's poor broadband penetration to be seen as a problem and not as a condition, thus enabling real, serious e-commerce to take off in India?
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
The Credit Suisse report has estimated the middle class on the basis of their wealth rather than their income, says Prachi Salve ' IndiaSpend.
Some 800 million or more Indians gaze at their mobile phones all day. Whoever can crack what's news on the mobile phone for them and their families, for a nominal payment of Rs 10 a month, is a winner, says Ajit Balakrishnan.
Without our realisation, basic AI is already managing our personal and work lives through emails, work processes and even entertainment
The Supreme Court and its committees, the two states and the central government must become objective and take the present and not just the past in mind.
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