Asking the state finance ministers to resolve the pending issues expeditiously, the Centre on Thursday said introducing Goods and Services Tax was critical for economic reforms.
As India's decline continued on global indices, the government first blamed methodology and then motives. This is where we remain today as we wish each other and ourselves a happy Independence Day, points out Aakar Patel.
Ashok Lahiri, a distinguished economist with experience in government, the private sector, and electoral politics, has been appointed as the new Vice-Chairman of NITI Aayog, tasked with strengthening India's reform trajectory and policy-making.
'... to see that young people are gainfully employed. After that, it will become very difficult as we will start ageing much more rapidly.' 'We have a huge proportion of Gen Z. After 2030, every year, we will start seeing a gradual shift towards a slightly older society.'
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.
Indian governments enjoy brief periods of autonomy before politics take over.
India must carry on with economic reforms: Lord Swraj Paul
Despite aggressive expansion, India's solar power sector faces significant hurdles from rising regional disparities in installed capacity and a looming manufacturing glut due to overcapacity in domestic solar equipment production, potentially leading to consolidation and pricing pressures.
The Obama Administration is encouraged by recent steps taken by the governments of India and Pakistan to initiate closer trade and commercial ties.
Indian economy is on growth path, says US diplomat.
Reaching out to the American business community, he said, virtually all spheres of Indian economy are open for participation by foreign investors and "no investors will be more welcome than investors from this great country".
Lauding India for its decade-old economic reforms, World Bank vice president Nicholas H Stern said on Tuesday that the country has shown the developing world the right kind of economic policies to be adopted.
Finance Minister Pranab Mukherjee on Monday strongly refuted observations by US think-tanks, the government and industry that India has gone slow on economic reforms and insisted that a series of reforms are in the process, which will lead to the next round of growth.
A NITI Aayog report outlines India's potential to scale its bioeconomy to USD 691 billion by 2035 and USD 2.6 trillion by 2047, creating over 30 million high-value jobs. The report stresses the need for coordinated national execution, regulatory reforms, a strengthened talent pipeline, and a significant BioEconomy Growth Fund to achieve this vision, positioning India among the top biotechnology powers globally.
US Federal Reserve Chairman Kevin Warsh has picked former RBI governor Raghuram Rajan, Harvard University economics Professor Raj Chetty and Microsoft XBOX CEO Asha Sharma to be part of task forces constituted to examine the central bank's approach to monetary policy and propose transformational changes.
For India, the guiding principle should remain clear: Engage Bangladesh as a sovereign nation and society rather than through the prism of any individual leader or political party, suggests Manoj Mohanka.
Notwithstanding the economic complementarities and the host of agreements for deepening economic relation on a host of areas, both sides share common viewpoints on the foreign policy domain and seek common grounds to serve as a counterweight to China, notes Dr Rajaram Panda.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Prime Minister Narendra Modi is set to meet secretaries of key Union ministries and departments to review their performance, focusing on ease of living, ease of doing business, and 'Atmanirbhar Bharat' initiatives, amidst strong speculation of an impending Cabinet reshuffle.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
The Congress escalated its campaign against alleged examination irregularities by marching to Prime Minister Narendra Modi's residence, transforming the issue into a direct challenge to his political authority and demanding the resignations of top government officials.
India must push on with economic reforms as back tracking on such initiatives will impact growth as well as foreign investments, a senior banking official said.
FIFA President Gianni Infantino's ambitious plan to sell a 20% stake in a commercial entity managing the World Cup and other tournaments to private investors has been abandoned following widespread opposition, including a boycott threat from UEFA.
India's government is working to resolve tax and regulatory hurdles to bring Formula One back to the Buddh International Circuit on the outskirts of New Delhi in 2028, more than a decade after the race was dropped.
'Why not aspire for 8 or 9 or even 10 per cent?'
Veteran banker K V Kamath stresses the importance of reskilling and education reforms to leverage artificial intelligence (AI) in India, advocating for practical applications over expensive foundational models.
When questioned on recent efforts by the US to bring up issues against India at the World Trade Organization, most recently to thwart India's efforts to market generic drugs, Rao reiterated the 'candour in the dialogue' both countries have which had helped maintain a balance, eschewing any extreme decisions.
Following Education Minister Dharmendra Pradhan's resignation amidst widespread student protests over the NEET paper leak, Congress leader Rahul Gandhi congratulated the youth, calling it a crucial step for education reform, and urged broader public action to hold the government accountable, demanding an apology from Prime Minister Narendra Modi.
India too can rise to the top if the 1.4 billion Indians back home are given better opportunities to use their innate talent and capacity to work hard, with right incentives in a more meritocratic rules-based system, asserts Ajay Chhibber.
The World Bank has increased India's economic growth projection for FY27 to 6.6 per cent, citing resilient domestic demand, while simultaneously cutting its global economic growth outlook due to the conflict in West Asia.
The Congress on Monday took potshots at West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee over her move to stage a demonstration at the Jantar Mantar in new Delhi against the Centre's new reforms, saying that the United Progressive Alliance government is determined and has made a commitment to push economic reforms for the betterment of the country.
But, the envoy acknowledged that there are infrastructure sectors which pose tremendous challenges where enormous amount of work, needed to happen.
The Opposition BJP on Thursday said it is willing to consider supporting the government in expediting economic reforms if the Prime Minister takes the initiative.
Confederation of Indian Industry has asked Prime Minister Manmohan Singh to fast track economic reforms, which in turn would boost investments and accelerate growth, chamber's new president Adi Godrej said on Thursday.
That means making it easier to invest, protecting investors through predictable rules, and avoiding policy reversals after investments have been made, notes Rajeswari Sengupta.
It was left to an incensed Gen Z to show the rest of India that enough was enough, and that the time had come to shatter the fear psychosis generated by the government's authoritarian approach to protests and criticism, points out M R Narayan Swamy.
The Indian government is set to accelerate reforms, including measures to enhance foreign direct investment, speed up divestment, and boost asset monetisation, to maintain economic growth despite rising fuel and fertiliser import costs driven by the West Asia crisis.
Jagdish Bhagwati, University Professor, Economics and Law, Columbia University, delivered the Third Hiren Mukerjee Memorial Annual Parliamentary Lecture in the Central Hall of Parliament House on December 2, 2010. Here are the edited excerpts of his excellent analysis of how the economic reforms have benefited India:
History may remember Takaichi Sanae not as the leader who simply accelerated Japanese rearmament, but as one who governed during Japan's transition from an industrial-age security model to a post-industrial strategic member of the global order, points out Varun Arya.
