'India is in a slowdown which most of us have not seen in our living memory.'
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
This year's Laureates have shown how the problem of global poverty can be tackled by breaking it down into a number of smaller - but more precise - questions at individual or group levels, he Royal Swedish Academy of Sciences said.
The agrarian crisis must be met with similarly speedy responses.
'"Who you know" does not help in scoring runs or taking wickets in front of hundreds of millions of fans, which alone determines your selection to play for your team.'
The thing is that unemployment and joblessness are a personally felt shame. It is not easy to mobilise a set of people who identify with others as a group that cannot get work, asserts Aakar Patel.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
Mumbai is expected to see the fastest rise in UHNWIs followed by Delhi.
The P V Narasimha Rao government in the 1990s had been on the verge of bringing to India the ashes, believed to be the mortal remains of Subhas Chandra Bose now kept at the Renkoji Temple in Japan, but was dissuaded from doing so due to an intelligence report.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
'No finance minister has the capacity to put the economy in an ICCU just like no finance minister has the capacity to take it for 10% growth!'
A ramp-up in COVID-19 vaccination, healthy advance estimates of kharif (summer) crop and faster government spending were the factors which led to the revision, the agency said in a statement. It can be noted that after the 7.3 per cent contraction in 2020-21, there were expectations of a higher growth number in 2021-22.
The country's exports rose by 48.34 per cent to $32.5 billion on account of healthy growth in shipments of petroleum products, gems and jewellery, and chemicals, leather and marine goods, according to the data released by the Commerce Ministry on Thursday. Imports in June too rose by 98.31 per cent to $41.87 billion, leaving a trade deficit of $9.37 billion as against a trade surplus of $0.79 billion in the same month last year. During April-June 2021, the exports increased by 85.88 per cent to $95.39 billion.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
Rajeev Srinivasan on how Indians are satisfied with illusions, not reality.
The wholesale price index's annual rise compared with a 7 per cent jump forecast by economists in a Reuters poll.
"Excellent meeting with Nobel Laureate Abhijit Banerjee. His passion towards human empowerment is clearly visible. We had a healthy and extensive interaction on various subjects. India is proud of his accomplishments. Wishing him the very best for his future endeavours," Modi said in a tweet, sharing a picture of their meeting at his official residence.
A man was shot dead in police firing in Telangana's Secunderabad, trains went up in flames, and public and private vehicles attacked, as railway stations and highways turned into battleground in many states on Friday amid burgeoning protests against Agnipath, the contentious defence recruitment scheme.
The Planning Commission has not been central to the policy making process since the mid-1960s, says Nitin Desai.
While Bibek Debroy echoed his view in Twitter, Pronob Sen questioned Kumar's conclusion
New business received by Indian manufacturers expanded at the fastest pace since February.
Thirteen companies have joined the Rs 1-trillion-plus market capitalisation club this year, so far. This even as the benchmark Sensex has gained less than 3 per cent on a year-to-date basis, underscoring the bullish undercurrent in the broader market. The trend shows a harsh second wave of Covid-19, subsequent lockdowns, and hit to the economic activity has made little dent into India Inc or shareholders' wealth. At the start of the year, there were 29 companies with a market value of more than Rs 1 trillion.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
World Bank's wrongful depiction of Indian territories as part of Pakistan and China in a map has prompted an Indian lawmaker to lodge a strong protest.
If India is to urbanise successfully, it has to focus on Tier 2 cities with a population of one-five million, observes T N Ninan.
Fresh investments are constrained by tepid demand.
Singh said he had worked as prime minister for 10 years and had always preferred that his work should speak for itself.
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New York Stock Exchange President 38-year-old Tom Farley (ranked 7) and Twitter co-founder and CEO 37-year-old Jack Dorsey.
It is a difficult problem and will require the Union, state governments and civil society, meaning NGOs, to work together, points out Aakar Patel.
'At a time when the economy is depressed, a pandemic is raging, and the Chinese are making noises on the border, the NRC could be resuscitated.'
A recent study shows that more than 100 million people are excluded from the public distribution system because the central government insists on using 2011 population figures to calculate state-wise PDS coverage, which effectively leaves out 100 million people, reports Sanjeeb Mukherjee.
As far as Hindus are concerned, the eclipse of Wokeism cannot come any sooner, says Rajeev Srinivasan.
Monsoon in August was almost 24 per cent below normal, which was the sixth driest August since 1901. It came on the back of a 7-per cent monsoon shortfall in July.
The implication of a slowdown in the financial services sector are very different (eg, likely to affect fewer people directly, and even that affecting those at the top of the income distribution) from that of a slowdown in construction, one of the most employment intensive sectors in the Indian economy (that will affect aggregate demand much more).'
While some visible signs of recovery have emerged, Modi has not announced any sweeping market reforms, with critics saying he has scored high on oratory but low on delivery of his election campaign promises.
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
In the manufacturing sector, output is expected to decline by about 70 per cent as only food-processing, and drugs and pharma industries are allowed to operate while other segments, such as engineering and metals, have shut operations.
'India's output contraction in the previous year was among the worst in the world!'
'I can't help it if people don't love the minorities, the Dalits and Adivasis; they are as much of this country as any other Indian.' 'If I love them, it does not mean I do not love my country.' 'It is ironic and funny that they have laid such severe anti-national charges against me.'
