US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
As per the Economic Survey for 2013-14, India's gross domestic product growth rate will improve to 5.4-5.9 per cent in the current fiscal after remaining at sub-5 per cent level for past two years.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. However, it is among the only two major economies, which will register a positive growth rate in 2020. The other being China, for which the IMF has projected a growth rate of 1.2 per cent.
Demonetisation was not a good idea and the time should have been utilised instead to fine-tune the Goods and Services Tax before it was introduced, said Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics at Harvard University, in an interview with Advait Rao Palepu.
It is the six per cent target RBI is more concerned about.
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
Relying on the private sector to undertake infrastructure investment may not be a realistic proposition.
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
What does Nobel Laureate Abhijit Banerjee thinks about India's education sector?
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
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