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.
During that period, the World Bank Group's private sector arm, IFC, committed $1.2 billion in India.
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.
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.
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.
It also advocated adoption of technology platforms and innovative models.
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.
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.
Here are 10 takeaways from what Modi told the Facebook town hall
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.
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.
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'.
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.
"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.
"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.
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.
Only 2.3 per cent of the Indian workforce has undergone skills training, compared to 68 per cent in the UK.
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.
Tax administration could be improved to reduce discretion and improve accountability
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.
Rishi Piparaiya lists three simple steps to manage the impact of rising prices and protect your financial future
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
'The central BJP has worked out an arrangement -- Yogi manages the state while Modi manages the Centre.'
'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.'
She said the government is preparing a blueprint to build 100 smart cities and to upgrade India's infrastructure
'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.'
'Today, there is no easy money to be made after the run-up in equities.'
By 2030 India will be among top three countries in science and technology: PM
You may be popular initially because of politics and ideology but if the economy slows down, you will be losing your popularity: Nouriel Roubini.
'Indian equity valuations, although not very expensive, are not cheap either.'
'We often celebrate scholastic excellence while ignoring the majority of students who aren't there yet,' Pratham CEO Rukmini Banerji tells Geetanjali Krishna. 'It's time we celebrated the bottom.'
7 million jobs will be created in formal sector in FY18
Will people buy as many cars as before if more office-goers are working from home? How much existing office space in commercial buildings will become surplus, and what will that mean for the construction industry, asks T N Ninan.
Only 2.3% of the Indian workforce has undergone formal skill training, as compared to 68% in UK and 52% in the US
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