Whether it took the corona crisis to bring about the transformation, or otherwise, the change ought to be welcome, notes Virendra Kapoor.
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
From the Sensex pack, Adani Ports & Special Economic Zones, Mahindra & Mahindra, Reliance Industries, HDFC Bank, Larsen & Toubro, NTPC, State Bank of India, UltraTech Cement and Kotak Mahindra Bank were the major gainers. In contrast, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Hindustan Unilever, ITC, Tata Motors and Tata Consultancy Services were among the laggards.
Gorbachev was the last leader of the Union of Soviet Socialist Republics (USSR).
Shahu Chhatrapati, scion of the Kolhapur royal family, has said he chose the Congress for his poll debut as he draws inspiration from his great grandfather Rajarshi Chhatrapati Shahu Maharaj, a hugely revered figure among all segments of society for his bold social reforms.
The Economic Survey released before next year's Budget could become a single volume, reverting to the practice followed till FY14. "There is so much to write about the Indian economy's performance in the past year. "Most of the exciting themes will be covered in what used to be considered Part II," said a senior government official who is part of the preparations for the Survey.
It is increasingly clear that Rajasthan, under the leadership of Chief Minister Vasundhara Raje, will lead the country in terms of policy reform.
This is the full text of the address to the nation by President Droupadi Murmu on the eve of India's 78th Independence Day.
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
Among the national parties, the Congress, Aam Aadmi Party, the Bahujan Samaj Party and the Communist Party of India-Marxist opposed the proposal, while the Bharatiya Janata Party and the National People's Party supported it.
'Everything about farming is enjoyable and relaxing.'
What is most troubling is that not a single party that is part of INDIA has talked about any kind of reform and economic sense, argues R Jagannathan.
IMF believes it is mostly cyclical, not structural, but because of the financial sector issues, recovery will be not be quick. IMF said, it saw an opportunity with the strong mandate of the new government to reinvigorate the reform agenda to boost inclusive and sustainable growth.
Economist Deepak Nayyar says economic openness, while necessary, is not sufficient, and is conducive to development only when combined with industrial policy.
An ambitious long-term vision to ensure economic connectivity between India and the rest of Southern Asia is critical to India's trade policy objectives.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms. This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more, a finance ministry statement said on Wednesday.
Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government was in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs. There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
However, Icra Rating Principal Economist Aditi Nayar feels that the numbers are a bit too optimistic and need real heavy-lifting by the Centre and the states. "The survey forecasts on real and nominal GDP will require a substantial push from Central and state spending as private sector capacity expansion is anticipated to be intermittent, and sector-specific in the next couple of quarters," she said. Nayar added that private consumption is likely to chart a differentiated recovery across income and age groups. Based on the comments made in the Survey, she expects the Union Budget to incorporate a growth in gross tax revenue of 15-16 per cent.
Highlights of Economic Survey 2020-21, tabled in Parliament by Finance Minister Nirmala Sitharaman on Friday.
'Three manufacturing sectors can create jobs by the million: Apparel, food, and electronic assembly.' 'Let's talk to them and ask them what it would take to scale by a factor of ten,' suggests Naushad Forbes.
'We need not worry about the market. If we do the right things, the market will come around,' says economist Raja Chelliah.
In her fourth tranche of the economic package, she said commercial mining will be done on revenue sharing mechanism instead of the regime of fixed rupee/tonne.
'I am shocked that the BJP makes so many commitments. What did they deliver as the NDA?'
A way out of the economic slump is to revisit the template of 15 years ago and follow its constituents, recommends Ajay Shah.
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
Fitch Ratings has cut India's economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India's 'BBB-/Negative' sovereign rating "balances a still-strong medium-term growth outlook and external resilience from solid foreign- reserve buffers, against high public debt, a weak financial sector and some lagging structural factors". The 'Negative' outlook, it said, reflects uncertainty over the debt trajectory following the sharp deterioration in India's public finances due to the pandemic shock.
Gross direct tax collection in 2022-23 rose by around 20 per cent to Rs 19.68 lakh crore, exceeding the government's revised collection target. Buoyed by personal income tax collection, the gross collection has exceeded the revised estimates (RE), set on February 1, by Rs 2.41 lakh crore or by 16.97 per cent. After adjusting for refunds, the net income tax paid by individuals and corporate, showed an increase of 18 per cent to Rs 16.61 lakh crore during the fiscal, which ended March 31, 2023.
In the first phase of the Lok Sabha polls, there were 135 women candidates while in the second phase, there were 100 women candidates, bringing the combined total for the first two phases to 235 women candidates.
China is trying to legitimise its claim over Tibet through museums, and cultural institutions in the region, according to Tibet Rights Collective.
'Days ago, India witnessed the horror of the brutal rape and murder of a woman doctor on night duty at the R G Kar hospital in Kolkata.' 'The crime was so outrageous that any self-respecting chief minister should have resigned, bearing moral responsibility.' 'But then the terms 'self-respect' and 'moral responsibility' do not exist in the modern Indian political lexicon,' argues Vice Admiral Biswajit Dasgupta (retd).
Through this Budget, the Obama Administration, policy makers, corporate sector and economists in the US are hoping to see a strong sign of a the major economic reforms which were promised by Prime Minister Narendra Modi during his election campaign.
Senior Bharatiya Janata Party leader and Union minister Nitin Gadkari on Monday asserted that votes are won on the basis of "politics of service" rather than on "posters and banners".
Word cloud of outgoing President Ram Nath Koinvd's speech in Central Hall of Parliament building in New Delhi.
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
Modi said India's contribution to global economic growth and prosperity underlined its commitment to 'Building Consensus for Fair and Sustainable Development', which is the theme of the summit.
Krishnamurthy Subramanian listed land, labour, law, and liquidity as the key areas of big reforms.
The report expressed doubts over reforms even post-2014.
As far as possible, investment in the agriculture sector must be from the government, and not the private sector, states Santushti Raj Thapar.
