RBI says, it cut rates as growth was not happening at ground level.
Demonetisation and Agniveer reveal the two mindsets India has become. In both these government schemes, one sees a desire to play the country like an orchestra anchored by conductor/conductors, argues Shyam G Menon.
With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
Indeed has seen an increase in listings for drivers, food delivery runners, and other service providers.
As per the survey, 7 per cent of employers anticipate an increase in payrolls, 3 per cent forecast a decrease and 54 per cent expect no change.
The retrenchments at the company promoted by Mumbai BJP chief Mangal Prabhat Lodha come at a time when the economic growth has dipped to a six-year low of 5 per cent, which has led many to fear if the spectre of job losses across sectors awaits next.
Less than half of rural households are engaged in agriculture.
Accused circulated a video of themselves confessing to the killing and threatened to take PM Modi's life
Flight cancellations and subsequent grounding of Jet Airways adversely impacted seat capacity in the domestic market which also resulted in fares going up.
'Aggressively stepping up vaccinations will constitute the most enduring stimulus of all in the coming quarters,' observes Sajjid Z Chinoy, Chief India Economist at J P Morgan.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
A new Congress leader may make an electoral impact by his very presence. Congress voters who had moved away from the party, after being influenced by the BJP's 'family rule' campaign, can now return with a certain moral satisfaction, observes N Sathiya Moorthy.
In India, Accenture said it continues to hire, and as part of its ongoing compensation programs, it also recently recognised a number of its people with bonuses and promotions.
IndiGo has confirmed the delivery of the next set of 25 ATR-72 jets and will be inducting around 10 planes by the end of this calendar year, making it the largest regional fleet operator in the country.
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
It is by now quite clear that in all likelihood the US Federal Reserve will hike interest rates in its next meeting in mid-December.
'You may put hundreds of checks and balances but human beings are ingenious.'
'Will 'Make in India' be able to harness the demographic dividend so it does not become a disaster?' 'Will 'Digital India' live up to the lofty promises the government and private sector made as part of its recent launch?'
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
Despite lay-offs and the threat of automation, the industry will continue to be an important driver of growth in employment and GDP, says Ashok Soota.
While sales momentum from rural areas may last another three to six months, sales growth in urban areas could stage a comeback by next year's June quarter as people learn to live with the coronavirus and economic activity gradually improves in the cities.
An impulsive decision to resign could eventually turn out to be a big career mistake, warns Srividya Kannan.
'I told myself, I will be 23 next year. Why can't I be a billionaire too?'
Many things are going unnoticed by India watchers.
'Any normalisation exercise will bring its share of volatility.'
Analysts, however, predict it would be an uphill climb for export-reliant China's economy going forward as it faced intensified conflict with the US and the negative fallout on its external trade due to Beijing's increasingly aggressive policies towards countries like India resulting in bans of its products and services.
From virtual yoga to empathy, the pandemic has prompted the e-commerce giant to double down on building innovations focused on improving remote work culture especially employee well-being, both mental and physical.
'Even if there is a third wave or a fourth wave, it is hard to see the economy will suffer like that (during the first wave).'
Of the Rs 20-lakh-crore package that Prime Minister Narendra Modi announced to defend the economy against coronavirus disruptions, fresh support may be only around 60 per cent of the offer as it counts the first financial stimulus and liquidity support that Reserve Bank has given already, and will overburden the bond market, says a report.
'You need to polish your skills and be prepared to be an asset in the 'new normal' work environment.' 'Access MOOCs (massive open online courses) and keep your brain razor sharp, despite not having a job offer or having your job offer rescinded.'
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
'We have to plan for whatever the new normal is.'
The replacement hired for women dropping out is invariably a man
Thirty years ago today, Steve Jobs presented the new Macintosh personal computer to a room of Apple investors. The machine has maintained its impact upon the world ever since.
All members of the Monetary Policy Committee (MPC) -- Shashanka Bhide, Ashima Goyal, Jayanth R Varma, Mridul K Saggar, Michael Debabrata Patra and Shaktikanta Das -- had unanimously voted to keep the policy repo rate unchanged at 4 per cent after the three-day meet of the panel earlier this month. Further, except Varma, other members voted to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward. Varma expressed reservations on this part of the MPC resolution, according to the minutes.
Mark Mobius, executive chairman, Templeton Emerging Markets Group, is positive on India and believes the Indian economy is on a strong footing
