Little attention is being paid to keep roads, bridges and flyovers in good shape
In his first interview since becoming the chief economic advisor, Arvind Subramanian agrees the Narendra Modi government has taken some initial steps to revive private investments but says many more measures would be required to restore macroeconomic stability - reining in inflation and fiscal deficit - and bring the economy back on high-growth path. Subramanian, who has earlier worked in the research department of the International Monetary Fund, tells IMF Survey, an online magazine of IMF, that the Gujarat model is to be replicated across India but there also are macroeconomic problems at the national level that need to be addressed.
The new Cabinet member says growth cannot come unless all sectors of the economy -- agriculture, manufacturing and services -- expand.
Projects about to be completed include the first rail connectivity projects in Meghalaya and Arunachal Pradesh, along with crucial gauge conversion between Rangpara and North Lakhimpur, which would connect Arunachal Pradesh to the rest of the country.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
RBI Governor Shaktikanta Das said the central bank saw economic growth slowdown in February, prompting it to cut rates ahead of the curve and wondered why markets were surprised with the decision to pause rate reduction. Noting that there is a need for an "informed and objective discussion" on the country's economy, Das said the RBI would do "whatever is necessary" to address growth slowdown, spikes in inflation as well to ensure good health of banks and non-bank lenders. The apex bank went for five consecutive rate cuts starting in February this year, making it a cumulative reduction of 1.35 per cent.
'We need to invest in our youth, we need to invest on our athletes, that should be the priority and then when we are in a position to realistically win at least 40 gold medals in the Olympic Games. For me personally that would be the right moment to host an Olympic Games'
The Union Budget is not everyone's cup of tea. But here's how you can make it yours.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
The fare will be cheaper as it will be capped at Rs 2,500 per passenger.
No one expects the government to publicly concede policy mistakes. But it can shed denial; and, stop the point-winning debating style to the formulation of public policy, says Rahul Khullar.
Instead of announcing new schemes, focus will be on those already announced and key sectors.
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
Ajai Shukla presents an action plan for Defence Minister Rajnath Singh to fix the systemic weaknesses in defence.
Indian IT giants are outstanding companies with great management teams, but they have been held hostage by their past success.
Conversion into jewellery during redemption would entail 15-20% wastage and making charges, rendering the scheme inefficient
Iran's growing proximity to China may have also played a part.
FIFA presidential hopeful Luis Figo will travel to the Caribbean this week hoping to tempt voters in the CONCACAF region with a plan to distribute more funds, $2.5 billion (1.7 billion pounds) over four years, to national associations.
The NITI Aayog's views are in contrast to the National Health Policy.
From Sri Lanka's most popular political family to its most despised -- going by the voices on the streets calling for the Rajapaksas' ouster -- what went wrong for the clan? Veteran Sri Lanka watcher N Sathiya Moorthy offers an insight.
'If India has to emerge as the world's laboratory and a global innovation hub, the minds of our youngsters must get an opportunity to flourish.'
Mauritius promises India full-cooperation on tax treaty issues.
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Modi is practical person... If he comes in, he will revive the economy and create jobs, says Sanjay Suri.
Information technology, not manufacturing or infrastructure, should be the focus of the government while implementing initiatives such as Make in India and Start Up India.
Classically, the Japanese - who are not guided by short-termism - added capacity during slumps to be ready to reap their good fortune when the business cycle turned upwards again and shortages emerged, says Subir Roy.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
A feature of this year's BRICS summit was economic cooperation.
All credit to the finance minister for walking the fiscal and expectation tightrope extremely well in his budget speech, says Ganesh Natarajan.
It emphasised that agricultural infrastructure needs considerable investments and hence Section 80IA benefits must be extended to all such investments like IT infrastructure, computers, VSAT, solar panels, water harvesting facilities, storage etc.
Boost to dairy sector will generate jobs
The venture is seen as a rival to the World Bank.
'In terms of growth rate, India is better than China.'
'While consumers have benefited tremendously from rock-bottom telecom tariffs, the telecom sector has been reeling under deep financial stress,' points out Rajan S Mathews, director general, Cellular Operators Association of India.
The article is in stark contrast to the TIME cover story done on Modi earlier this month titled 'India's Divider in Chief', written by Aatish Taseer, son of Indian journalist Tavleen Singh and late Pakistani politician and businessman Salmaan Taseer.
Prime Minister Narendra Modi on Sunday left for the UAE on a two-day visit packed with a string of engagements high on substance and symbolism, including talks with the country's leadership and an address to the Indian diaspora.
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
