Citing India's commitment to deep economic reforms and ease of doing business, Prime Minister Narendra Modi asserted on Monday that this is the best time to invest in the country as policy-making is focussed on the needs for the next 25 years for a 'clean and green' as well as 'sustainable and reliable' growth period. In his special address to the World Economic Forum's online Davos Agenda 2022 summit, Modi underlined a host of reform measures undertaken by his government to stress that it has worked to reduce the administration's interference in business by deregulating many sectors and to clear the way for free trade agreements with different countries. India was once associated with "license raaj", he noted and highlighted the measures, including reduction of corporate tax to boost business and doing away with over 25,000 compliance requirements.
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
'We can go somewhere between 35 per cent and 40 per cent.'
It's time Rahul Gandhi became attuned to the reality of the 21st century instead of recycling failed political jargon of the 20th century,' argues Virendra Kapoor.
Jaitley is scheduled to present his first full Budget on February 28.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
Addressing media persons following the CWC meeting, party leader Janardhan Dwivedi said that the party meeting concluded that the role of the main Opposition Bharatiya Janata Party had been negative on reforms.
Prime Minister Manmohan Singh will address the nation on Friday night to explain the government's recent decisions on economic reforms, which have triggered widespread political protests across the country. The prime minister will address the nation at 8 pm on Doordarshan about the recent decisions on economic reforms, officials said.
Analysts attribute this outperformance to the government's proactive economic reform measures
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
The speed at which political statements of doubtful veracity acquire the aura of gospel truth is astonishing. One such "truth" is: coalition compulsions impede economic reforms. Even Chief Economic Advisor Kaushik Basu believes in it. He recently said, "Thanks to coalitional democracy, there is some slowdown in economic reforms and decision-making."
Corporations and business associations must strengthen their direct communications and consultations with citizens - and earn the trust of society.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
A favourable monsoon and government support to the rural economy are among the reasons that agrochemical companies, including makers of pesticides and fertilisers, have done well.
'India imports 70 per cent of its bulk drugs from China. Are we going to live without antibiotics?' asks Debashis Basu.
The Modi leadership could lose Election 2024 if a communal flare-up becomes cause for all-round catastrophe, warns N Sathiya Moorthy.
Growth and economic reforms in India must take centre-stage again and acts of corruption or security concerns should not distract the attention of the government and the people, said Union Home Minister and former finance minister P Chidambaram recently.
Finance Minister Nirmala Sitharaman on Tuesday said monetisation of Central Public Sector Enterprises (CPSE) assets is based on the principle of value creation for the government and investors and would bring about a paradigm shift in infrastructure augmentation and maintenance. Chairing the National Workshop with the states/UTs on Asset Monetisation organised by Niti Aayog, the minister sought the collaboration of states for the holistic development of infrastructure. She said India can become a $5 trillion economy, while striking the right balance between fiscal imperatives and socio-economic welfare, through active collaboration between the public and private sector.
'What Jaishankar says is simplistic.' 'The past does not matter that much.' 'If we think that it does it is because we are not good enough at running the nation competently today and are searching for excuses why,' argues Aakar Patel.
The 30-share Sensex gained 118 points to end at 27,394.
Cargill believes the reforms would act as a catalyst in attracting private sector investment in building supply chains for taking Indian farm produce to national and global markets.
The focus shifts almost immediately from celebrations to the challenges faced by the man who powered his party to 303 seats in the Lok Sabha.
Flurry of economic reform suggests Modi realises his muscular nationalism script is getting jaded. Chances are he'll try for economic recovery but stick to what's worked so far, observes Shekhar Gupta.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
'We need not worry about the market. If we do the right things, the market will come around,' says economist Raja Chelliah.
'The Modi government is about privatising profits and nationalising losses.'
Sharma is Head of Emerging Markets and Chief Global Strategist at Morgan Stanley Investment Management.
The market capitalisation of BSE-listed companies surged to Rs 98,11,322 crore.
This is another blow to Modi's ambitious economic reform agenda that has been stalled by a logjam in parliament
Catch all the latest action from the Lok Sabha and Rajya Sabha here.
The prime minister said the country's economy was likely to grow by 7 per cent or a little more in the current financial year.
Observing that India's worsening COVID-19 situation and the strict measures to contain it have hit the economy hard, the rating agency said productive capacity has been severely disrupted since the start of the pandemic.
PM Modi would be the fifth foreign leader Trump would have spoken with over phone after being sworn-in as the US President on January 20.
The highlight of the occasion, according to officials, is an address to a special gathering in the morning by President Xi Jinping, who cast himself in the mould of Mao Zedong, the founder of the Communist Party of China as it is officially called.
Economic reforms have remained an article of faith for all the governments at the Centre in the last 18 years, irrespective of the political parties that formed them.
With the fall of Congress, Chidambaram's political graph too started moving southwards.
A faltering economy may have led to a re-think on economic strategy. And Mr Modi might think he is politically strong enough to take some risks. But there could be a minefield ahead, observes T N Ninan.
Heckling, confrontation and strong-arm tactics don't come to him easily, reveals Aditi Phadnis.
All eyes will be on what the prime minister says as his August 15 addresses have often been marked by big announcements, his government's achievements and bringing to people's attention what he believes to be the major challenges facing the country.
Inaugurating the two-day 'Global Investors Summit' hosted by Assam, Modi said the National Democratic Alliance government has speeded up the functioning of official machinery and "we want all programmes to be completed before target".
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