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.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
IMF has praised India's economic performance and has negated the concept of decoupling as economies today are much closely related to each other.
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
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.
The Confederation of Indian Industry rated the performance of the NDA government on the economic front "excellent" even though the reforms agenda was unfinished.
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.
This is the lowest investment grade rating.
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.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
The auto industry expects lower taxes and interest rates from Budget 2015.
Industrial output rose to nearly three-year high of 6.4% in August.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
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.
Wood Mackenzie projected India's real GDP level to overtake Japan and reach over $6 trillion by 2035.
'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.'
Resolving the TBS challenge comprehensively would require 4 Rs: Recognition, recapitalisation, resolution and reform.
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