The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
Much of the rural recovery story is based on the premise of agriculture doing well. Even if it clocks a growth of 2.5-3 per cent this year, it is still just around 15 per cent of the overall GDP. The non-farm sector, which constitutes a bigger portion of the overall rural economy, is now hampered by disruptions and lockdowns.
The rupee's plunging to record level and a sharp fall in the equity market are knee-jerk investor reactions to the US Federal Reserve's saying the it will slow down bond-buying programme in view of improving American economy.
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
'I have serious doubts about the longevity of the NDA government and the longevity of the 18th Lok Sabha itself.'
Very high GDP growth which is driven by lots of concessions to large corporates.
It has raised rural consumption, created new markets and shored up growth when investment falters.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
The Indian economy will grow at around 6.5 per cent in the current fiscal, notwithstanding high crude oil prices and increased uncertainty due climate changes, NITI Aayog member Arvind Virmani said on Thursday. Virmani also asserted that the gross household savings ratio in India has consistently gone up. In an interview with PTI, he said: "My growth projection (of India's GDP growth) is 6.5 per cent plus minus 0.5 per cent... because my experience is that the fluctuations in global GDP more or less has balanced out for us, assuming normal changes."
The services sector growth in India rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 61.8 in January, up from 59 in December, pointing to the sharpest rate of expansion in six months.
'Union Budgets are often used as political instruments and that was the intention of this government too.' 'But while the exercise has settled two fronts, it has left open several others and this has the potential to aggravate with time,' predicts Nilanjan Mukhopadhyay.
India's manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) recovered from an 18-month low of 54.9 in December to 56.5 in January. The latest reading highlighted the strongest improvement in the health of the sector since last September.
India will catch up with China by the year 2020 in terms of economic growth on the strength of its better efficiency of investments, an Asian Development Bank economist has said.
The Indian government today does not care what it does to Indians as long as it can continue on its path, observes Aakar Patel.
The ongoing financial sector crisis in the United States and its repercussions on developed markets worldwide will result in lower capital inflows into emerging markets like India, economists and government officials said on Thursday.
Crisil Ratings on Wednesday projected India's GDP growth at 6.8 per cent in the next fiscal and said the country will become an upper middle-income nation by 2031 with the economy doubling to $7 trillion. In its India Outlook report, Crisil said the Indian economy will take support from domestic structural reforms and cyclical levers and can retain -- perhaps even improve -- its growth prospects to become the third largest economy by 2031. "After a better-than-expected 7.6 per cent this fiscal, India's real GDP growth will likely moderate to 6.8 per cent in fiscal 2025," said the Crisil India Outlook report.
It was for the second time in recent days that Modi has touched upon issues relating to diversity and pluralism, as he faces criticism over the issue of intolerance in the country.
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
On Friday, Biden announced his intent to appoint 14 people to the advisory committee, which provides overall policy advice to the United States trade representative on matters of development, implementation, and administration of the US trade policy.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
Just as the umpire's decision is no longer final, what is disdainfully rejected is the age-old dictum that the game should be played and watched in the spirit of the game, sighs Uddalok Bhattacharya.
Rajan was expected to join the search committee to appoint three external members of a new six-member RBI Monetary Policy Committee
'Without a poverty line, how are we to know whether poverty is the same, or it has come down or it has gone up?'
Prime Minister Narendra Modi will meet over two dozen thought leaders from various walks of life in New York on Tuesday.
'If it is true that we are in a moment in time when the few economic advantages we hold are being lost, our focus must be on that rather than on finger-pointing,' says Aakar Patel.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
When the country is full of confidence and resolve, and intellectuals of the world are optimistic about India, talk of pessimism, showing the country in poor light and hurting the morale of the country also takes place, he said at the India Today Conclave.
There is no use of the BJP targeting the likes of Mamata Banerjee and M K Stalin, directly by the party's political bosses, both in Delhi and the respective state capitals, or even using the Raj Bhavans to fire those salvos from. Successive elections have proved that it's counter-productive, if anything. But the BJP is yet to understand it, acknowledge it, points out N Sathiya Moorthy.
Failure to address the core issue of development and overconfidence on the 'false campaign' of 'India Shining' led to the debacle of the Bharatiya Janata Party-led National Democratic Alliance in the elections, leading economists said on Thursday.
