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Nitish Kumar has spotted a secular trend in Bihar and with the minority's support he could trump Lalu Prasad, says Aditi Phadnis
India has a huge untapped population which doesn't have facilities for financial aid and insurance, and it is perhaps plausible to look at the option of having niche players catering to smaller sectors akin to non-banks and microfinance institutions in lending, said Rakesh Joshi, member (Finance & Investment), Insurance Regulatory and Development Authority of India (Irdai). Speaking at the Business Standard BFSI Insight Summit, Joshi said, "Today, most of our insurance companies operate at a national level. There is arguably a case for having differentiated operations, which cater to niche sectors the same way we have non-banking financial companies (NBFC) and microfinance institutions in lending." "The capital requirement for niche players may not be as large as those having national ambitions. "Enabling these niche players, which require lower capital, will enhance the penetration in areas which hitherto had not seen traction from large players," he said.
The net worth of India's billionaire community has soared 12-fold in 15 years - enough to eliminate absolute poverty twice over in the country, where income inequality is also on the rise, according to the IMF.
Sadly, for hundreds of millions in India, that inequality from their birth and the utterly inadequate schooling and health care they receive thereafter mean that the lottery is stacked against them.
'What is most distressing is that the revival of the economy, creation of more employment, and reducing poverty are not on the agenda of the government at all.' 'We are an economy on the verge of a demographic disaster.'
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
It also advocated adoption of technology platforms and innovative models.
Here are 10 takeaways from what Modi told the Facebook town hall
India's economic growth is now 'extremely fragile' and needs all the support that it can get, as private consumption and capital investment are yet to pick up, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Friday. Varma further said out of the four engines of growth for the economy, exports and government spending supported the Indian economy through the pandemic, but other engines need to pick up the baton now. " I like to think in terms of the four engines of growth for the economy: exports, government spending, capital investment and private consumption. "...while exports cannot be the main driver of growth because of the global slowdown, government spending is necessarily limited by fiscal constraints," he told PTI.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
'The revenue projection arises out of all sectors doing well and the formalisation of the economy helps in making sure the tax domain gets widened.'
Despite the relaxation of the one-child policy in 2016, the number of live births per 1,000 people fell to a record low of 10.48 in 2019, down from 10.94 in 2018.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for vaccine," said an article on the 'state of economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.
Speaking at a function in Pune, the HRD minister also said that she would be soon introducing changes that would make her ministry more transparent. Devidas Deshpande reports.
Prime Minister Narendra Modi on Sunday said the country needs to focus on imparting skills to its young population in order to compete with China, apart from bringing revolutionary changes in agriculture and energy sectors.
Planet Earth welcomed its 8th billion inhabitant on Tuesday, a remarkable milestone for humanity that is set to propel India to become the world's most populous country next year, surpassing China amid rising global challenges.
Overall, the record of the second term reveals a contradiction between the image and the reality. The image, especially on media and social media, is one of the man at the height of his power, and unstoppable. The reality on governance is someone who has found it difficult to get things implemented and unsure of what to do next, points out Aakar Patel.
PepsiCo Chairman and CEO Indra Nooyi hoped that whosoever comes to power after the next elections will manage the country well so that India clocks a consistent 7-8 per cent economic growth.
Only 2.3 per cent of the Indian workforce has undergone skills training, compared to 68 per cent in the UK.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
His remarks assume significance at a time when a large number of Indian students, many of them studying medicine, have been stuck in Ukraine following the Russian attack on that country.
The statement comes in the wake of two independent members of the NSC, P C Mohanan and J V Meenakshi, quitting the Commission over disagreements with the government on the back-series GDP data and delay in release of labour force survey. Mohanan was also the acting chairperson of the Commission.
Tax administration could be improved to reduce discretion and improve accountability
Gandhi also hailed as 'an important idea' the party's decisions to give more representation to the youth and empower them, and added that there should be a 'healthy mix of youngsters and seniors'.
"You are seeing my face everywhere," the Congress leader added while addressing a press conference to release the party's 'youth manifesto' along with her brother and former president Rahul Gandhi.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd. A new manufacturing unit will be set up with a production capacity of over three million pairs in Uttar Pradesh through a collaboration with Iatric Industries Pvt Ltd as part of an understanding with the state government.
He said that during the interaction, he has seen that secretaries have vision, commitment and energy to take the country forward.
This could be a major drag, not just on the empowerment of women but on the India growth story as well.
The applicants included at least 255 people with doctorates and 150,000 graduates.
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
It is natural that the world wants to talk directly to India and the world wants to hear directly from the horse's mouth about India's policies and potential. It matters if you hear it from the leader: Modi
Key drivers of these risks can be arrested or reversed through building more inclusive societies, for which international cooperation and long-term thinking will be vital
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
She said the government is preparing a blueprint to build 100 smart cities and to upgrade India's infrastructure
'The central BJP has worked out an arrangement -- Yogi manages the state while Modi manages the Centre.'
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
By 2030 India will be among top three countries in science and technology: PM
