'Investment creates capacity and reduces inflation. Income, employment, and savings rise.'
India has been a tea sipping society. But the aromatic wave of coffee culture is wafting across it.
Unemployment has been rising among the young, with authorities suspending data disclosures after youth unemployment crossed 20 per cent.
For India to view the new Sri Lankan leadership only through the prism of the past or through their narrow view on China, is fraught with possibilities that should be avoided, asserts N Sathiya Moorthy.
'We will likely be buffeted by tailwinds from the global economy, geopolitical shifts and robust domestic demand.'
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
Average salary has grown faster than average business income for three of the last five years. This has implications in a country like India. Most people in India are self-employed, with 51.4% of the population falling in that bracket.
Sanjiv Puri, chairman and managing director of ITC, is looking to expand the conglomerate's play outside India by taking "strategic positions" in markets close to home in the non-cigarette fast-moving consumer goods (FMCG) and hospitality businesses. In a recent conversation with Business Standard, Puri revealed that ITC is setting sights beyond India's borders. "We already export to 100-odd countries. We want to scale that up and take some strategic positions in markets close to us," he said.
'Generating employment requires a shift in policy.' 'If not, the country will face economic, social and political challenges in the coming years.'
India is looking at near close to double-digit growth this year and the country will be one of the fastest-growing economies, Finance Minister Nirmala Sitharaman has said. The minister also emphasised that she expects the economic growth next year to be in the range of 7.5-8.5 per cent, which will be sustained for the next decade.
The world's Muslim population is expected to increase by about 35 per cent in the next 20 years, rising from 1.6 billion in 2010 to 2.2 billion by 2030, according to new population projections by the Pew Research Center's Forum on Religion & Public Life.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
'When you do some job for a few hours, you are hardly earning enough to survive.'
Fitch Ratings on Wednesday cut India's growth forecast to 10 per cent for the current fiscal, from 12.8 per cent estimated earlier, due to slowing recovery post second wave of COVID-19, and said rapid vaccination could support a sustainable revival in business and consumer confidence. In a report, the global rating agency said the challenges for banking sector posed by the coronavirus pandemic have increased due to a virulent second wave in the first quarter of the financial year ending March 2022 (FY22). "Fitch Ratings revised down India's real GDP for FY22 by 280bp to 10 per cent, underlining our belief that renewed restrictions have slowed recovery efforts and left banks with a moderately worse outlook for business and revenue generation in FY22," it said. Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
Economic growth, which we are taking for granted, slows for a completely different set of local or global factors and the Modi premium vanishes, observes Debashis Basu.
Kamal Haasan is right where he left off from the first film but there is only so much he can do to salvage an already lost cause, observes Arjun Menon.
The average rate of COVID-19 vaccination in the country has been 10.8 million per week. At that rate, it will take India till December 2024 to complete two billion doses.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
Prices may go up because of higher energy costs, caused by the rise in shipping charges, with commercial vessels taking a longer route to avoid the troubled Red Sea region, the finance ministry said on Monday. Iran-backed Houthi rebels of Yemen are repeatedly attacking ships in the Red Sea. While the global economy is grappling with challenges such as sticky inflation, sluggish growth, and mounting fiscal pressure, India's external sector could face "potential risks" due to the ongoing geopolitical tensions, according to the finance ministry's report on the review of the Indian economy.
Planet Earth welcomed its 8th billion inhabitant on Tuesday, a remarkable milestone for humanity that is set to propel India to become the world's most populous country next year, surpassing China amid rising global challenges.
China on Thursday scrapped its controversial decades-long one-child policy.
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
The edtech major promised a learning revolution, offering hope to millions of under-educated youth. Now, those dreams are shattered, observes Devangshu Datta.
Bangladesh is in turmoil, which is not good news for India, which shares a porous 4000 km border with it. There is a danger of fundamentalism growing there, and India has to move in to reset its ties with the new dispensation before China and Pakistan make capital out of it, alerts Ramesh Menon.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
One could argue that India is not troubled in the same way as China is by a declining population and structural problems in real estate/construction and finance. But India has serious trade and fiscal imbalances, and excessive dependence on capital expenditure by the government, points out T N Ninan.
We have millions of newbie investors who are clueless about how to handle sudden and severe adverse market reactions, which arrive from time to time, observes Debashis Basu.
'Our approach has been to work with consumers and help them drink better, not more.'
National security advisor Ajit Doval on Friday suggested that various central armed police forces of the country should have "jointness" and interoperability among themselves like the ongoing plan for the defence forces.
The President said the focus must be on Providing Urban Amenities in Rural Areas (PURA) and interlinking of rivers.
India, which accounts for the third largest online userbase globally after China and the US, has had the lowest Internet penetration growth in Asia Pacific (APAC) at 17.4 per cent so far this year, research firm eMarketer said in a report.
'There is not any negative connotation associated with it.'
India's population will continue to grow and that of China is expected to start decreasing
On average, at least one in three Indians today were pre-diabetic, two in three were pre-hypertensive and one in 10 were depressed, the 4th edition of Apollo Hospitals' flagship Health of Nation Report on World Health Day 2024, said.
Interim Budget, the US Federal policy decision and quarterly earnings will be the major drivers for stock markets which may also see some consolidation this week, say analysts. Besides, investors would also focus on the trading activity of foreign investors and global trends for further cues. From the macroeconomic front, the PMI (Purchasing Managers' Index) data for the manufacturing sector is scheduled to be announced on Thursday.
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
