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.
If the corruption issue doesn't claim Mr Baghel, the Congress's chances in the assembly election later this year are good, observes Aditi Phadnis.
The study said fine particulate air pollution (PM2.5) shortens an average Indian's life expectancy by 5.3 years, relative to what it would be if the 5 g/m3 pollution limit set by (WHO) was met.
Most forecasts do not have a track record of transparency and accuracy
On the ground, rural medical infrastructure and more crucially, women's access to reproductive health services is practically non-existent in Uttar Pradesh, reports Geetanjali Krishna.
Expectations were probably too high from Narendra Modi.
'What should surprise BJP supporters is Modi's call for 'stability' at the manifesto launch, a theme that he and his team members had not touched ahead of the Lok Sabha polls in 2014 and 2019.' 'The last time the party called for 'stability at the Centre' was in 1998 and 1999,' recalls N Sathiya Moorthy.
Chief economic advisor Arvind Subramanian discusses the Budget, goods and services tax, Centre-state relationship and larger issues facing the economy
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
'You know the kind of force involved in all of this. They are not good for the country where all of this will happen.'
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
The panel suggests family head must be valued at skilled wage rates.
The next quarter-century could mark India's rise as a nation to be more whole-heartedly admired if it addresses its institutional and policy failures, and focuses on reducing its inequalities and addressing its iniquities, asserts T N Ninan.
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 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.
The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it will boost the sector. Of the total allocation for the next fiscal, a significant amount of Rs 350 crore has been provided for digitisation of Primary Agriculture Cooperative Societies (PACs), while Rs 274 crore for an umbrella scheme 'Prosperity through Cooperatives' which would have a number of sub-components with the aim of all-round development of cooperatives in the country. For the first time, a separate budget of Rs 11 crore has been provided to Vaikunth Mehta National Institute of Cooperative Management (VAMNICON).
'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.
Exemptions, and the fact that farm income is outside the tax net, ensure that India's tax-GDP ratio stays low.
'To bring about a paradigm shift in farmers's income, we need to change our approach to agriculture, and transit from the narrow prism of cultivation to a full-fledged enterprise, by building all associated supply chain linkages.' 'This alone will make the farmer an entrepreneur in his own right.'
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
There are conflicting signs on India's investment cycle.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
The Reserve Bank on Wednesday retained the GDP growth forecast at 9.5 per cent for the current fiscal but cautioned that the economic recovery is not yet strong enough to be self-sustaining and durable.
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.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
This is the full text of Prime Minister Manmohan Singh's address to media persons ahead of his interaction with them in New Delhi on Friday
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue. Till May, defence spend was nearly 30 per cent less than the previous year.
The promise of a less suspicious government is surprising. What about the disconnect between the new business stance and earlier push to dictate the narrative in politics and public life, wonders T N Ninan.
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
Several speakers noted that Budget carried the weight of expectations.
The resentment against the government has increased.
From India's fight against COVID-19 to China face-off, Kovind spoke on several issues during the televised address.
'When you need to revive the economy, when you need to revive aggregate demand, you cut taxes.' 'But what's this government doing?' 'It's increasing taxes for the middle class and the vast majority of the poor on fuel, which has a ratchet effect on most other products.'
'That is not a democratic ideal obviously, but it is a practical reality.' 'It is a consistent feature of politicians in Pakistan that their rhetoric on the army softens the closer they get to the seat of power.'
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
Finance Commission has got new team who are committed to growth initiatives.
'It may take two years for the economy to return to normal.' 'We should ensure that the vulnerable do not dig into their savings or give up their assets because that will set them back by several years.'
'We do not want people who are air dropped and who fly out once the job is done.' 'Ever since liberalisation started, we keep on hearing that it's going to be jobless growth.' 'This speaks of the failure of the foreign returned policy makers.' 'When questions are raised, answers should be given and not a resignation.'
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
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