The size of India's middle class will nearly double to 61 per cent of its total population by 2047, from 31 per cent in 2020-21, as continuing political stability and economic reforms with a sustained annual growth rate of between 6 per cent and 7 per cent over the next two and half decades will make the country one of the largest markets in the world. The findings are part of a report released on Wednesday by the People Research on India's Consumer Economy (PRICE) and India's Citizen Environment, a not-for-profit think tank. The report titled, The Rise of India's Middle Class, is based on an analysis of primary data collected by PRICE through its pan-Indian survey.
Why is the Bharatiya Janata Party opposed to FDI in retail? A day after promising to scrap FDI in retail, the BJP set about fine-tuning its line to ensure it did not fall foul of the middle-class.
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
The report on the Economic Freedom of the States of India is the latest in a series of annual surveys on the economic freedom of Indian states, which started in 2004. The latest report takes 2009 as the period under review.
Finance Minister pegs 2011-12 growth at 8.6 per cent, expects inflation to fall to 6-7 per cent by end of the financial year.
They discussed at length India's rapid progress in the space sector, including various space exploration missions being undertaken by India, the Ministry of External Affairs said in a press release.
Prime Minister Narendra Modi has met leading American economist Paul Romer, investor and co-founder of hedge fund, Bridgewater Associates Ray Dalio, and other eminent thought leaders and exchanged views with them and briefed them about the reform trajectory of his government to foster economic growth. Prime Minister Modi is in New York on the first leg of his maiden state visit to the US at the invitation of President Joe Biden. Modi and Romer held discussions on India's digital journey, including the use of Aadhaar and innovative tools like Digilocker.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
Nearly eight out of 10 Chinese, who took part in a national poll said they believe China should stay on the path of political reform while according top priority to stability to avert a collapse similar to that of the erstwhile Soviet Union in 1991.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
The two governments have already set a target of increasing bilateral trade in goods and services to $500 billion.
The economy is projected to clock 7.4 per cent growth.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
The PFRDA is engaged in consolidating the initiatives taken so far regarding the full New Pension System and expanding the reach of distribution network.
Noting that the economic crisis had underlined an urgent need for reform in the international financial structure, member of parliament Saifuddin Soz called for a greater role for developing nations in norm-setting and decision-making bodies like the International Monetary Fund.
As an ideal, economic democracy is not easy to define, but its core principle is to prevent any concentration of wealth that inhibits economic freedoms of society as a whole.
The GDP growth for 2014-15 is pegged at 5.4 to 5.9 per cent: Economic Survey
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
Bajaj Finance was the top gainer in the Sensex pack, soaring over 8 per cent, followed by Kotak Bank, IndusInd Bank, HDFC, PowerGrid, Axis Bank, ICICI Bank and L&T. On the other hand, Maruti, ITC, NTPC and Nestle India were among the laggards.
She alleged that today, the regime in power is misusing and subverting the institutions of the Constitution, and weakening its foundations of liberty, equality, fraternity and justice.
This is the lowest investment grade rating.
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
'Why do I have this feeling... why India could not pick their XI in last two years. It's a very strange thing to me that your squad is not settled. Who is your No. 4, where will Virat (Kohli) play 3, 4 or 5?'
Industrial output rose to nearly three-year high of 6.4% in August.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
Finance Minister P Chidambaram on Friday appealed to the UPA coalition partners and allies to give "political space" for pushing forward the pending financial sector reforms, crucial for sustaining high economic growth.
The Confederation of Indian Industry rated the performance of the NDA government on the economic front "excellent" even though the reforms agenda was unfinished.
The prime minister's August 15 address was undoubtedly inspirational and outlined important economic and social objectives, such as making India a global hub for manufacturing, ensuring bank accounts for all poor families, major thrusts in sanitation and cleanliness, and a radical restructuring of the Planning Commission.
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
Wood Mackenzie projected India's real GDP level to overtake Japan and reach over $6 trillion by 2035.
The auto industry expects lower taxes and interest rates from Budget 2015.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
The external affairs minister, speaking at a media summit organised by the TV9 Network, described the rise of India and China as "significant" in the global geopolitical scenario.
Resolving the TBS challenge comprehensively would require 4 Rs: Recognition, recapitalisation, resolution and reform.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Indian economy, dubbed the fastest growing major economy in the world, is faced with the single most important pressure point of job creation, says former RBI Governor Raghuram G Ranjan as he makes a strong case for improvement of human capital through skill development. Talking about the book 'Breaking the mould: Reimagining India's economic future', written jointly by him and Rohit Lamba, assistant professor of economics at Pennsylvania State University, Rajan said one of the greatest strength of India is its human capital of 1.4 billion and the question is "how do you make it strong?" The nation needs to create jobs at every level going along the path of development, said Rajan, presently Katherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth, USA.
The high-level committee on 'one nation, one election' approached 62 parties out which 47 responded -- 32 in support of holding elections simultaneously, 15 against it.
Economic think-tank Indian Council for Research on International Economic Relations has warned that higher economic growth of 7-7.5 per cent annually cannot be achieved in the next five years unless the government accelerates reforms.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances