'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
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'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
The Johnson and Johnson and Sputnik vaccines should be approved now, as should the Pfizer and Moderna ones, suggests Naushad Forbes. Leave it to the companies to figure out how to put in place the right chilling infrastructure. Don't let a lack of approvals deprive the country of availability, suggests Naushad Forbes.
'India has the potential to reduce its trade deficit with China by $8.4 billion in FY21.'
Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the electric vehicle segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world's fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive. The EV push, egged on by the government's emphasis on electric mobility to meet its net zero targets, is expected to yield at least 25 electric vehicles - new ones as well as electrified versions of existing vehicles running on internal combustion engines.
About 10.5 million new jobs were created between 1989 and 2010.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
The initiative is one of the several steps which the government has announced in order to improve ease of doing business in India and attract investments to boost manufacturing in the country
Growth concerns on China, which has already seen the yuan getting devalued twice in August, have rattled global financial markets, including that of India.
'According to CMIE data, employment in manufacturing saw a reduction from 51 million in the country in 2016 to 27 million in 2021. 'That is, it has halved in just 5 years. 'At the same time, the national lockdown resulted in reverse migration to rural areas, and an increase in the number of workers in agriculture. 'It also means joblessness has increased in agriculture because there are too many workers; the number of workers went up from 200 million to 232 million.'
Industrial output fell 3.2 per cent in November.
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
The procurement and distribution will be centralised though the government is yet to take a call on the initial number of doses that will be procured.
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
In 2015, the Reserve Bank of India cut interest rates by 125 basis points to 6.75 per cent.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Action has been taken according to a memorandum that requires 'periodic review of performance of government servants'.
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
rediffGURU Baqar Iftikar Naqvi, start-up mentor, founder and CEO of Upriver Ecommerce, offers advice on how to navigate the many challenges of entrepreneurship.
Two French sports retailers - Go Sport and Decathlon - are all set for battle royal to grab market share in India. Both are competing with sports goods makers Nike, Puma and Adidas and footwear major Bata. While Decathlon is already in India for some time, Go Sport opened its first super store in Navi Mumbai recently.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
The economy has shown sharp resilience in the past and has also bounced back in good time. We could hence expect a similar trajectory next year, observes Madan Sabnavis, chief economist, CARE Ratings.
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
Seeking to guard investor returns from excessive exchange rate movements, RBI Governor Raghuram Rajan on Thursday said a move towards an inflation target of 4 per cent will help contain the currency market volatility.
Modi campaigned on the issue of national security, which cannot be ensured without a strong economy.
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
'A third wave is possible, but we must try to restrict it to a low level by adopting all personal protection and public policy measures to prevent viral transmission, while speeding up vaccination.'
The ministry of defence has bought two regiments of the indigenous Pinaka multi-barrelled rocket launcher for Rs 3,230 crore.
Could the Centre and the prime minister have achieved more than what they did on curbing the endemic spread through more of the Modi outreach, given his credibility and unchallenged ability to communicate with the masses, asks N Sathiya Moorthy.
Govt must take few steps to improve business environment.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
The change in stance follows a strong opposition by automakers of the proposed government plan to ban two-wheelers (below 150cc) and three-wheelers by 2023 and 2025, respectively
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Analysts attribute this fall to the recent moderation in energy (mainly crude oil) and commodity prices, lowering of input costs for companies in sectors such as FMCG, consumer durables, and automobiles, reports Krishna Kant.
