If the Centre and states are keen on spending more to meet the COVID-19 challenges in the coming year, they must bear in mind the need to raise more resources through taxes and non-tax revenues, suggests A K Bhattacharya.
Planning in India will need to change to take account of a more volatile global economy.
Exports dropped 5.7 per cent to $28.6 billion from the same period a year earlier.
Experts said banking is a play on the economy and the latest buying into this space is underpinned by hopes of a sharper-than-expected recovery in the economy.
The current global financial crisis dominated the India Economic Summit's (IES) pre-event conference. The three-day event, being organised jointly by the World Economic Forum (WEF) and Confederation of Indian Industry (CII) from Saturday, would make its debut in this city after 26 years. The summit, an annual event, is usually held in New Delhi.
Global financial crisis has created an adverse impact on the economy especially on the Indian IT industry.
However, it could still take many years before the 161-year-old Lehman, once a poster-boy of the US markets, could regain its lost glory.
Reserve Bank of India Governor Duvvuri Subbarao is not interested in carrying on in his present job after his term ends in September next year.
No great economy is generated without innovation and invention, and embedding them in the growth process. This is India's missing link.
The outbreak of COVID-19 has adversely impacted the occupancy levels at hotels across 11 major cities, resulting in a decline of up to 29 per cent in revenue per available room (RevPAR) during January-March this year, according to JLL India. While occupancy level fell in a range of 5-17 percentage points, the RevPAR was down 13-29 per cent across 11 cities -- Ahmedabad, Bengaluru, Chennai, Delhi, Goa, Gurugram, Hyderabad, Jaipur, Mumbai, Pune and Kolkata.
The finance minister could well be on her way to setting a record of achieving the biggest single-year reduction in the government's fiscal deficit, explains A K Bhattacharya.
The investigation began before it cut the United States' AAA credit rating.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
With RBI rate cut, loans are likely to be cheaper.
'In May 2020-2021, nearly 10 crores (100 million) lost jobs. 'Covid is not the reason for the present crisis. It aggravated the crisis.'
Industrial growth has entered the negative zone in October, two years after the global financial crisis. But Prime Minister's Economic Advisory Council chairman C Rangarajan pins hopes of a revival in the fourth quarter.
Compared to other emerging markets, accelerated growth in the domestic economy provided greater business opportunities to foreign banks in India, resulting in higher profitability.
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to 27.4 in April, from 51.8 in March, reflecting the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago. The index slipped into contraction mode, after remaining in the growth territory for 32 consecutive months. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.
Here's the biggest myth of the financial world: Women make poor money managers. If anything, the argument has swung in favour of the fairer sex in the midst of this global financial crisis. Here are 5 rules then that women investors must always follow.
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
Addressing Indian businessmen in New Delhi, German President Horst Kohler said the world community has to enhance their efforts to counter protectionist tendencies.
On the 10th anniversary of the global financial crisis, a multi-part series analyses the lessons learnt and those not learnt.
Admitting that persistent inflation, especially in the food sector, is a cause of concern, Prime Minister Manmohan Singh on Thursday emphasised on increasing the country's agricultural production to enhance food security.
The government on Friday admitted that providing more and better jobs to the young still remained a challenge, even as the Indian economy was back on a high growth path after hit by the global financial crisis for two years.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
'Our focus on fresher induction is high, given that they come in with certain advantages.' 'They do not have an unlearning process as seen in senior employees.'
FDI is essentially long-term investments that come with added benefits such as better technology, management and marketing assistance, says the study.
Rejecting the 'protectionist policies' of the US, Finance Minister Pranab Mukherjee said on Thursday free flow of goods, services and capital would ease the global financial crisis.
The review will now make it mandatory for the world's top 25 financial economies to undergo IMF's surveillance. The check-up was earlier voluntary in nature.
Talking to reporters on the sidelines of the G-20 Finance Ministers' meeting in Paris, Mukherjee said fiscal expansionary policies were required in the past, in the wake of global financial crisis.
Budget should use fiscal policy to curb inflation.
The 2010 Australian Grand Prix posted a A$49.2 million (US$46 million) loss, local media reported on Thursday, placing further pressure on the state government to justify the burden on taxpayers.
In the following pages is a list of some of the top banks that have a successful track record in India (not all banks have been featured in this list because of space constraints).
Negotiations that continued till 2009 eventually failed and the money could not be recovered.
Finance Minister Pranab Mukherjee on Wednesday called for flexibility in the framework that the International Monetary Fund (IMF) is in the process of creating, to help countries manage large capital flows that could put economies at risk as they come out of the global financial crisis.
Enthused by the prospects of good monsoon, the Planning Commission on Tuesday said the double digits inflation would decline by December, and sounded optimism that economic growth would exceed 8.5 per cent this fiscal.
This analysis is based on the quarterly earnings for 724 companies.
S&P's specific concern is that: "US policymakers might not reach an agreement on how to address medium- and long-term fiscal challenges."
According to the World Bank's latest Migration and Remittances Factbook 2011, remittance flows to developing countries is expected to reach $325 billion by the end of this year, up from $307 billion in 2009.
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