False and acrimonious debates such as Modi versus Manmohan might allow for victories that are political and partisan. But the real loser is the nation, India and Bharat, notes Arvind Subramanian, former chief economic advisor to the Modi government in its first term.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Prime Minister Manmohan Singh said that rising food prices would make inflation control a more difficult task and it has the potential to derail economic reforms. "We in India too are deeply concerned about rising global commodity and food prices. . . a steep rise in food price will make inflation control more difficult and can thereby hurt the cause of macroeconomic stability. The constituency for economic reforms, so necessary for growth, would also diminish," the PM said.
The government is moving ahead slowly but steadily.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
Reserve Bank Governor Shaktikanta Das on Wednesday said the country is at the doorstep of economic revival on the back of accommodative monetary and fiscal policies being pursued by the central bank and the government.
'Concerns about India's future are hampering private investment.' 'If the private sector sees strategy, teams and execution on these issues, this will inspire confidence in India.' 'This should be our main strategy for 2017,' says Ajay Shah.
OECD wants India to reduce trade and FDI barriers, and issue more banking licences.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
He was reviled by critics in his party as a neo-liberal in disguise but till the end, he retained his belief in secularism and the humanity of Communism.
The average rating was seven out of 10.
FDI is a major driver of economic growth and a source of non-debt finance for the economic development of the country. The government has put in place an investor-friendly policy on FDI, under which investment up to 100 per cent is permitted on the automatic route in most sectors/ activities. At $ 64.37 billion, FDI in 2018-19 is the highest ever investment received for any financial year.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
Making a case for reforms in the pension sector, the Economic Survey 2010-11 on Friday said the Parliament should expeditiously clear the long pending PFRDA Bill.
Top corporate managers on Thursday expressed confidence that the Congress-led coalition, in case it forms the government at the Centre, would give a fillip to economic reforms.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
The finance minister's assertion that industry should not expect any spectacular announcements in the 2024 interim Budget suggest that the electoral imperatives of more tax concessions or higher expenditure on welfarist programmes could be far less pronounced than they were before the 2019 interim Budget, expects A K Bhattacharya.
N R Narayana Murthy, co-founder of Information Technology giant Infosys, has lamented that economic activities in India were 'stalled' and decisions were not taken by the Manmohan Singh government in time in the Congress-led United Progressive Alliance-era.
'The lack of a majority isn't the issue. He has enough in 240, especially as none of his allies can pull down his coalition.' 'That's why he's started as if this were just another, normal term. That pretence is vital for him.' 'The change for Modi 3.0 comes not from numbers, but from the new environment of contestation,' points out Shekhar Gupta.
The days of anti-reform, anti-growth advisers that undermined our economy in the UPA-II years will now be strictly behind us: Bhagwati
Reforms are key to India sustaining the pre-economic crisis growth rate of 9 per cent, United States Treasury Secretary Timothy Geithner said in New Delhi on Monday.
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
Vice President M Venkaiah Naidu said in Amaravai on Friday that certain forces were conspiring to damage the sovereignty and integrity of India by provoking internal strife and expressed anguish over some recent incidents in different parts of the country.
India's projected 8.1 per cent GDP growth rate this year was "quite achievable" as investors' confidence had gone up substantially due to sustained economic reforms, a noted economist said on Monday.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
Gourav Vallabh joined the Bharatiya Janata Party on Thursday hours after he quit the Congress, saying he can neither raise anti-Sanatan slogans nor abuse "wealth creators" day in and day out and was joining the ruling party due to his support for Prime Minister Narendra Modi's agenda of "Viksit Bharat".
More and more states are organising investor summits, Jaitley said.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
PM says FDI decision shows 'unwavering' commitment to reforms.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Mamata Banerjee, a former United Progressive Alliance ally, said 'from petrol to onions, from diesel to dollar, from fertilisers to day to day expenses, prices are skyrocketing.'
What the INDIA alliance needs is neither a counter to Modi's tall personality and undiminished charisma nor a counter-narrative to his Hindutva agenda, now centred on the Ayodhya temple consecration on January 22, argues N Sathiya Moorthy.
