'Indian entrepreneurs became traders for Chinese goods rather than producers of goods.'
India's economy has bounced back amazingly from the Covid-19 pandemic and nationwide lockdown over the last one year, but it is not out of the woods yet, according to the World Bank, which in its latest report has predicted that the country's real GDP growth for fiscal year 21/22 could range from 7.5 to 12.5 per cent.
In a letter to Speaker of the US House of Representatives Nancy Pelosi, Trump said he was determined that New Delhi had "not assured" the US that it would "provide equitable and reasonable access" to the markets of India.
The US has the distinction of destroying a flawed but functioning State thrice since 1979. Pakistan has been their constant accomplice, explains Shekhar Gupta.
India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said.
'You cannot take success for granted.' 'That's the most important lesson that you learn being an entrepreneur.'
As per Delhi Government's report on 'Household Consumer Expenditure' released today, the monthly per capita expenditure of urban population has increased from Rs 1,972 in 2007 to Rs 2,078 in the year 2008 -- topping all the States and Union Territories.
Asked about the report, MEA spokesperson Anurag Srivastava said, "The political judgements of Freedom House are as inaccurate and distorted as their maps."
India has been ranked seventh in the list of top 10 wealthiest countries in the world, which was topped by the United States.
'Our stable outlook currently points to the fact that the ratings are likely to remain stable for the next couple of years.'
The US is a wonderful example of how a political party with minority support can cling to power for decade, notes Devangshu Datta.
Growth in the Asia-Pacific region will be low, the aqency said
'Uttar Pradesh, our largest state by population and the most powerful, is also the worst governed.'
Delhi gets more water than Paris, according to a report of the Planning Commission. If the national average water supply for cities is 140 litres per capita, Delhiites guzzle 240 litres per capita. But Delhi, which empties the river Yamuna as it enters the city to fulfill its water needs, says it is facing a water shortage of the intensity of a crisis.
Despite being a neighbour, Pakistan has never accounted for more than 2 per cent of India's total exports, and its share in India's total imports is less than 1 per cent. On the other hand, bilateral trade between India and Bangladesh has increased five times.
'Modi-Shah have understood the risks their cynical mixing of domestic political motivations with strategic national interests was soon going to become counterproductive asserts Shekhar Gupta.
Though power reforms are the most important item on the government's agenda, it often leads to face-offs between the Centre and states.
Before 2019, an estimated 22 million individual income-tax returns did not have to pay any taxes. But after the change in the exemption level, another 13 million individual tax returns did not require to pay taxes. Thus, of about 58 million returns, as much as 63 per cent or 35 million went out of the direct tax net, A K Bhattacharya points out.
Despite having the highest per capita income in the country, most city dwellers are unable to purchase a decent accommodation.
There is lack of scientific basis in computing the poverty line, says govt.
New York, the financial capital of the world, has emerged as the epicenter of the pandemic. More than 14,000 people have died in the city and over 2,00,000 lakh people have tested positive so far. Neighbouring New Jersey has more than 78,000 cases and 3,800 deaths.
The really disturbing numbers relate to inequality.
Over the next five years, it will be Narendra not Nitish who will be under pressure to deliver vikas and atmanirbharta in Bihar, notes Kanika Datta.
The individuals and HUFs are seeking effective reduction in tax incidence through hike in threshold limit of income tax exemption, restoration of standard deduction, increase in exemptions U/s 80 C etc
'The border stand-off and the uncertainties that come with it should be a wake-up call on what makes for real rather than illusory power,' observes T N Ninan.
'Should you give a man fish, or teach him how to fish?' 'Lurking hidden in the new bout of welfarism seems to be an admission that the State can't deliver for the poor anything other than cash,' notes T N Ninan.
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
The monthly income of an average Indian for the first time in the country's history has crossed Rs 3,000, thanks to economic reforms and a high growth rate of above 9 per cent achieved for three years since 2005-06.The per capita income, a measure of average income of a citizen, went up 12.2 per cent to Rs 37,490 per annum during 2008-09, said the advance estimate for national income released by the Central Statistical Organisation (CSO) on Friday.
Presenting the budget for the sixth consecutive time in the Assembly, Sisodia said the Delhi government will implement the Ayushman Bharat Yojana of the Centre in the national capital.
Let's take a look at per capita consumption of ice cream around the world, including India.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
Exemptions, and the fact that farm income is outside the tax net, ensure that India's tax-GDP ratio stays low.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
The Jharkhand report card that shows important metrics for the state.
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
Tharoor was asked by a Pakistani journalist as to how the political fortune of the Indian government was impacted by the rising COVID numbers. He said it was paradoxical as the government was "not doing well" in dealing with the pandemic and people realise that, but polls suggest that it has not hurt the BJP politically as it should.
'Ladakh is a tiny salami-slice issue.' 'The big one for China is Arunachal Pradesh, more than 83,000 sq km.' 'Do they imagine they can grab any of this by force?' 'In the 21st century, nursing those thoughts only means you need to get your heads examined.' 'It isn't going to happen,' declares Shekhar Gupta.
The government hopes to use this data to assess the extent of financial support needed to recover from the pandemic.
The reduction of tension on the Chinese border may have reduced the urgency of a Biden-Modi meeting, but the sooner Modi starts a bromance with Biden the better as he had done with Obama and Trump, suggests Ambassador T P Sreenivasan.
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