'The government should come back as a job creator as it did in the 1960s and the 1970s.'
The continuing debt turmoil in the euro zone area could have an adverse fallout on the Indian economy, hurting its capital flows as well as exports, the Economic Survey said on Friday. Further, it noted that rising international oil prices could aggravate the current account deficit, which is already at high levels.
Undaunted by what non-ideal mortals call pragmatic reality, he rolled up his sleeves on his first day in office and rolled out a series of measures that turned sentiment, as if on a dime.
The US was 'extraordinarily' frustrated with the slow pace of opening up of Indian economy, despite the issue being raised at the highest level, a top Obama Administration has said.
The growth rate has been 8.6 per cent in 2010-11 and is expected to be around 9 per cent in the next fiscal year.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
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.
India granted 1.03 lakh patents in financial year 2023-24, Controller General of Patents, Designs and Trademarks Unnat Pandit said on Thursday, as he assured that there will be "no delay" in the Intellectual Property Office as it prioritises timely clearance of applications. Addressing an Assocham event here, he shared that 40 per cent of the applications were disposed of within 30 months of the request for examination. "We are going to have no delay in the IP office, that's the motive with which we have .. that IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant ... that will generate the economic value of IP," Pandit said.
The Left parties attacked the government's policies and said the country was heading towards an economic emergency.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
Rakesh Mohan, Secretary, Department of Economic Affairs, on Tuesday pointed out that the Indian economy was on the move with the gross domestic product growing at about 7 per cent last year and investment levels in the country also going up.
Though fiscal deficit is a concern, the country needed spending to boost the economy hit by financial crisis, she said. Going by the bank's research, Kidwai said India is likely to grow at 8 per cent in next fiscal 2010-11.
'In the short term you keep your return expectations very, very low; in the medium term be prepared to invest and in the long term growth will come and your returns from stocks will be high.'
Titan Company, Axis Bank, NTPC, Tata Motors, ITC, Tech Mahindra, Bajaj Finserv, ICICI Bank, HDFC Bank and Bajaj Finance were the other laggards. Bharti Airtel, Power Grid, Infosys and Larsen & Toubro were among the gainers.
India's economy grew 7.8 per cent in the March quarter, pushing up the annual growth rate to 8.2 per cent, according to official data released on Friday. Growth in the January-March period was lower than the 8.6 per cent expansion in the December quarter.
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
He maintained it is not 'hope' but the 'fact' of a stable government provided by UPA and the numerous measures taken in the last 18 months that have provided stability and strength to the Indian economy.
'it's not just youth in India who are left behind because of their inability to find jobs; nearly two-thirds of Indian women of working ages do not participate at all in the paid labour force.'
Fitch Ratings on Thursday raised its forecast for India's economic growth to 7 per cent for the next fiscal year starting April 1 on the back of strong domestic demand and sustained level of business and consumer confidence. With a stronger-than-expected 8.4 per cent growth in gross domestic product (GDP) during the third quarter (October-December) of the current fiscal year, Fitch saw the Indian economy expanding 7.8 per cent in 2023-24 financial year (April 2023 to March 2024), marginally higher than the government's estimate of 7.6 per cent.
India's Current Account Deficit rose to a record 6.7 per cent in the quarter ended December of 2012-13.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Friedman was participating in a session on India Outlook at the World Economic Forum in Davos on Wednesday where Finance Minister P Chidambaram was present.
Prime Minister Manmohan Singh sought on Friday to allay fears of a possible US slowdown affecting Indian economy, saying that the country's economic foundation was strong enough to sustain 9-9.5 per cent growth. "I am confident we can sustain our growth momentum at 9 and 9.5 per annum despite international situation," Singh said at a joint press conference with visiting French President Nicolas Sarkozy in New Delhi.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
The highlights of RBI's bi-monthly monetary policy announced by Governor Shaktikanta Das:
For 2021-22, it projected the economy to clock a growth of 10.6 per cent.
The RBI assessment would come amid euphoria generated by the news that the GDP grew 8.4 per cent during the second quarter ended September 2003.
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.
'The Indian economy is expected to grow in terms of per capita income and GDP, and with that, the luxury segment becomes more relevant.'
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
Amid all the gloom on the economic and financial front, Sandesh Kirkire, CEO, Kotak MF, suggests five bold measures to get the Indian economy back on the growth path, arrest the rupee's downfall and address India's bulging current account deficit.
According to latest Central Statistical Organisation's estimates, the economy will grow at a rate of 5 per cent in the current fiscal -- the lowest in over a decade.
Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to becoming a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "We have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all.
India has adopted a bilateral strategies with its immediate neighbouring countries for mutual benefits
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
In the global context India is looking 'very special'.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances