Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
'Even if there is a third wave or a fourth wave, it is hard to see the economy will suffer like that (during the first wave).'
'It is the moment where compassion and empathy must supersede our identity, politics, or our ambitions.'
Sentiments on domestic economic activity appear to be reviving, RBI said, adding that there are early signs of modest strengthening of corporate sales and business flows.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
Noting its role in reviving the US economy and creating jobs, President Barack Obama will visit a steel plant owned by NRI tycoon Lakshmi Mittal whose company is the largest supplier of steel to the US auto manufacturing sector.
Asked when the economy will revive, Das said it is difficult to make an estimate as there are many things which are still playing out.
