Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
TCS will manage 'Question Creation Wizard' to frame question papers unique to each candidate with the same level of difficulty.
Expressing commitment to augment the country's infrastructure, Finance Minister Nirmala Sitharaman on Monday proposed to significantly enhance capital expenditure to Rs 5.54 lakh crore in the next fiscal, besides creating institutional structures and giving a big thrust to monetizing assets to achieve the goals of the National Infrastructure Pipeline (NIP). Sitharaman said NIP, that was launched in December 2019 with 6,835 projects, has now been expanded to 7,400 projects and around 217 projects worth Rs 1.10 lakh crore under some key infrastructure ministries have been completed. "For 2021-22, I propose a sharp increase in capital expenditure and thus have provided Rs 5.54 lakh crores which is 34.5% more than the BE of 2020-21," the finance minister said.
Per capita income has more than doubled to Rs 1.97 lakh in around nine years. Indian economy has increased in size from being 10th to 5th largest in the world in the past nine years. Seven priorities of the Budget, 'Saptarishi', are inclusive development, reaching the last mile, infrastructure and investment, unleashing the potential, green growth, youth power and financial sector.
In order to achieve $5 trillion GDP by FY'25, India needs to spend about $1.4 trillion over this period on infrastructure, according to the Economic Survey. During financial years 2008-17, India pumped in about $1.1 trillion on infrastructure. However, the challenge is to step up infrastructure investment substantially, the Economic Survey 2021-22 said.
Even as India gears up for election results on May 16, a group of senior Bharatiya Janata Party leaders have taken up an informal initiative to see how a 'Modi ministry' will look like, in case the party forms the government at the Centre.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Policy decisions, particularly those which have wide-ranging implications on the nation's health and security, should be decided by bodies best suited to do so, the Delhi high court said on Monday while refusing to interfere with the Agnipath scheme.
'India and China are already in a warlike situation.'
India's new policy commission has received a makeover and a dream team has been formed to head the Think Tank, NITI Aayog.
Hours after 21 ministers took the oath of office and became a part of Prime Minister Narendra Modi's ministry, speculation began on which minister would be handed which portfolio. However, all speculation ended after the list was announced.
After asking Railway Minister Lalu Prasad to speak about the revamp of the railways, the Indian Institute of Management, Ahmedabad has invited his bete-noire Bihar Chief Minister Nitish Kumar to deliver a lecture on reforms in his state.\n
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
The Covid pandemic has left a question mark on how the central government manages its staff.
A summary of sports events and persons who made news on Thursday.
Have Amethi and Rae Bareli got rough treatment in the last one year? Has Varanasi become cleaner? Business Standard's Manavi Kapur finds out
It is necessary to have a dramatic increase in the number of rapid tests for COVID-19 conducted on a large number of people and that should become the basis for estimating the morbidity and mortality due to COVID-19, not relying only on hospital reports, says Professor K Srinivasan.
'The economy is suffering (perhaps 'enjoying' is a better word) the lowest credit demand in decades; banks are struggling with stressed loans equivalent to near 10 per cent of GDP,' points out Devangshu Datta.
While the government has claimed significant increase in funds for farm credit, PMKSY and PKVY, facts show a different story.
Defence Minister Arun Jaitley leaves for Tokyo on Sunday evening for a security dialogue with Japan, a visit that acquires huge significance after North Korea's hydrogen bomb test on Sunday morning.
Shaken by Justice RM Lodha committee's recommended reforms of its governance structure, the Board of Control for Cricket in India has decided to call a Special General Meeting (SGM) within the next two weeks to discuss the implications of the report.
The Supreme Court-appointed Lodha Committee on Monday recommended sweeping reforms for the controversy-ridden Board of Control for Cricket in India, suggesting a bar on ministers from occupying positions, putting a cap on the age and tenure of the office-bearers and legalising betting.
Good investors learn how to think beyond the obvious and to make deeper, less obvious judgments.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
From planning Prime Minister Narendra Modi's foreign trips to playing a key role in the Jammu and Kashmir elections, former RSS spokesperson Ram Madhav is become increasingly important in the BJP
Prime Minister Narendra Modi had gone to China with a bagful of initiatives, but not all seems to have been fulfilled given China's reluctance to go the whole hog with him
Curbing the federal deficit is the government's absolute priority on February 28.
'Modi is likely to make more announcements to win or retain popularity, and put himself at the centre of things even more than now,' says T N Ninan.
Most expect the Budget to be path-breaking.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
'Those who have seen the functioning of the Modi government in Gujarat know that the issues related to Hindutva and issues of economy and growth function simultaneously.' 'Modi's politics are based on the understanding of the middle-class consumer society which is in pursuit of material aspirations.' Sheela Bhatt/Rediff.com reveals the Modi government's economic and political plans for the year ahead.
Hers is a rags-to-riches story for the ages, peppered with risks, determination and strokes of luck.
The government has taken a number of steps to address the situation faced by farmers.
The full transcript of the exclusive interview with Prime Minister Narendra Modi.
President Pranab Mukherjee on Monday addressed the first joint sitting of Parliament as mandatorily required under the Constitution after the general elections. The address is the political, economic and foreign policy road map of the Narendra Modi government and covers virtually all crucial areas.
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