Expressing commitment to push forward economic reforms, Finance Minister Pranab Mukherjee today said the government is making efforts to build a consensus on important economic legislations, including PFRDA and foreign investment in multi-brand retail.
We can sort out certain sensitive issues with the Left, we can put aside certain economic reforms, but there will not be day-to-day skirmishes with them, a senior Congress leader tells Sheela Bhatt
Warner said the opportunities ranged from advancing the cause of the bilateral investment treaty, to advance the cause of greater collaboration between educational opportunities.
Even as the Centre is working overtime to roll out FDI in retail while the real decision might rest with the states, Arvind Singhal, chairman, Technopak Advisors, often referred to as the poster boy of the Indian retail sector, said the so-called big-ticket measure was "not the most important thing"for the sector.
Economists say even 8.5 per cent growth is an optimistic target, which could not be met, unless the government pushes for economic reforms.
The government emphasised that the country's credit strengths were 'much better' than most similar-rated economies.
Next year, India will become one of the world's 10 biggest economies.
"Though we reiterate our commitment to peace, our defence forces -- the army, the air force and the navy -- are adequately mobilised in a well-coordinated move to thwart any attempt to undermine our security. Our national interest will be protected at all costs. We have also ensured a widespread understanding in the international community of India's firm and principled stand," the President said. India and China are locked in a nearly nine-month long military standoff in eastern Ladakh.
According to a government survey released for 2011-12 on household consumer expenditure, "The poorest 10 per cent of India's rural population had an average monthly per capita expenditure of Rs 503.49 per month."
Although the rising tide of growth has lifted all boats, the faster-growing, richer states have steadily pulled apart from the slower-growing, poorer states. Although this growing divergence has been observed during earlier periods as well, factors responsible for it are not fully understood.
Subhash Chandra Garg, the former finance secretary who was shunted out of the finance ministry within three weeks of Modi-2.0 government's first budget last year, on Saturday alleged that new Finance Minister Nirmala Sitharaman got him transferred out.
In a statement issued after its Article IV Consultation with India, the IMF said that Reserve Bank of India should be ready to increase rates to check any further rise in inflation.
India received $2.21 billion in foreign direct investment in February, showing an annual growth of 74 per cent, taking cumulative inflows to $28.40 billion for the April-February period of the last fiscal.
Sector to see funding push; tax reforms as well as sops to wait longer.
Amid growing fears of another global recession looming large, President Pratibha Patil today exuded confidence that India with its "strong fundamentals and resilience" will continue to grow economically.
Claiming that Prime Minister Manmohan Singh and United Progressive Alliance Chairperson Sonia Gandhi are not on the same page, the Bharatiya Janata Party on Monday said government has to be large-hearted and not act as "big brother" for creating a political consensus, which is key to economic reforms.
Investors became richer by over Rs 80,000 crore (Rs 800 billion) today as the benchmark indices rose over 1.7 per cent each on Goldman Sachs' upgrading Indian stocks and optimism that government will push through key economic reforms.
The methods being used by the government to window-dress the fiscal deficit will fool no one, least of all foreign investors or bodies like the IMF, warns Sonali Ranade
A party MP speaking on the condition of anonymity said that such steep hikes will be damaging for the party and that a number of MPs particularly those from Lok Sabha are "unhappy" with it as they will have a tough time in their constituencies explaining the move.
The prime minister has been unstoppable as he transported the BJP to colossal success on a wave of muscular nationalism, majoritarian pride and charisma.
The transition for India if Sonia Gandhi cannot continue her duties as head of the Congress party, could be dangerous. India's democratic institutions are already corroded by political corruption and dynastic politics and its economy in rigor mortis from lack of any serious economic reform for the last seven years of Congress rule, say Neelam Deo and Manjeet Kripalani.
While the bigger burden of increase in revenue collection would fall upon the indirect taxes, on the direct taxes there could be rationalization & simplification.
Manish Sabharwal, Chairman of Teamlease Services and IIJT Education says that the current regulatory regime imposes five heavy costs on our higher education system. Read on to know what these costs are are.
The Planning Commission said the decision of oil marketing companies to raise petrol price by Rs 3.14 per litre is a good news and will provide credibility to the economic reforms process.
In the entire 2017, FPIs put in a collective amount of Rs 2 trillion in equity and debt markets
Congress can initiate moves that please it -- and any alliance partner can choose to oppose them also. That is a recipe for chaos, warns A K Bhattacharya
Despite being election year, Indian ultra HNIs are more optimistic of the country's growth journey and expect wealth to increase in the year 2019.
European Investment Bank to set up office in India.
The ratings are opinions that reflect the ability and willingness of the rated entity to meet financial obligations.
Twenty years of economic reforms later, the Indian elephant has morphed into a tiger, averaging 8.5 per cent growth in the last decade. . .
Fourteen years ago, the telecom market was thrown open to private and foreign players.
Economic reforms and stable crude oil prices could drive the Sensex up to 20,000 points by March next year, brokerage company Kotak Securities said.
Urban India accounted for 26 per cent of the poor in 2004-05.
'The economy has to become the government's No. 1 priority, which it is not at the moment,' says T N Ninan.
Trying to hardsell India, Finance Minister Pranab Mukherjee on Tuesday assured the United States business community that the country's growth story was intact and it was committed to expediting reforms and further liberalisation of the foreign investment regime.
Finance Minister Arun Jaitley, along with other senior ministers, on Tuesday pitched India growth story before 21 large global investors
Combating inflation and sustaining growth momentum may be the top priority, but the government on Monday said it would strive to push economic reforms to encourage foreign and private sector investments in the economy.
Strategic sectors may offer manufacturing firms opportunity to return to the top of Indian industry, says Sanjaya Baru.
There is a requirement for a fresh push, especially in agriculture, education and health which would deliver the inclusive growth -- the target of policy.
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