Development economist Jean Dreze said the Indian democracy is currently navigating a crisis that is not only limited to the 'recent wave of authoritarianism' but also suppression of opposition voices by the ruling Bharatiya Janata Party.
The need for a manufacturing policy, reining in food inflation and raising investment in the country were among key suggestions given by economists who met Finance Minister Nirmala Sitharaman and senior ministry officials in the first round of pre-Budget consultations on Friday.
As of March 2023, the share of accounts belonging to women stood at 36.4 per cent (917.7 million) of the total 2.52 billion individual accounts.
The share of women employed in regular salaried jobs in urban India hit a fresh low in the January-March quarter (Q4) of 2023-24 (FY24). In the same period, the share of women engaged in self-employment went up. An analysis of the latest quarterly Periodic Labour Force Survey (PLFS) data showed the share of women in regular wage work among all employed women stood at 52.3 per cent in Q4FY24, down from 53 per cent in the previous quarter.
The time is ideal for a 'Dream Budget' akin to the 1991 reforms that sparked high growth and unlocked significant gains in productivity, points out Rajeswari Sengupta.
Youth unemployment (ages 15 to 29) is higher than the national average of 12.4 per cent in Telangana (14.2 per cent) and Rajasthan (13 per cent), followed by Chhattisgarh (6.7 per cent) and MP (6 per cent).
Latest GDP growth numbers a one-off development and not the beginning of a trend, says CEA V Anantha Nageswaran.
'Binary fission will happen -- startups will lead to more startups.'
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).'
India remains the largest growing economy in the world, a senior official from the International Monetary Fund said, observing that the country's macroeconomic fundamentals are good. "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests.
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
'Right to apprenticeship means that anyone below the age of 25 years with a diploma or other qualifications can demand an apprenticeship with a private, a public sector company or a government organisation. And when he/she demands this, it is the obligation of the government to provide it.'
As the Union Budget 2025-2026 (FY26) inches closer, the Indian real estate industry is seeking stamp duty cuts, revised home loan limits and updated affordable housing norms through Pradhan Mantri Awas Yojna (PMAY), single-window clearance and eco-friendly policies, among others. Industry leaders and consultancy firms, including Anarock, Raheja, Gaurs, Kanodia Group, Reach, Urban Space, Justo and Eros Group, have shared their expectations.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
Every young diploma and degree holder in the country will have the right to apprenticeships in the private and government sectors, he said.
80% of the surveyed districts did not show any change in migration
The top court's remark came while setting aside an order of the Madras high court which directed the Tamil Nadu government to create the posts under the designation.
India's e-commerce market alone is projected to reach $200 billion by 2026, making it a prime industry for ambitious entrepreneurs, explains rediffGURU Harsh Bharwani.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
The employment rate in the country declined marginally from 39.2 per cent to 38.6 per cent between 2009-10 and 2011-12, the Rajya Sabha was informed on Wednesday.
SBI data shows the per-capita payouts for scheme have shot up this year.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
But the government will present a second tranche of Supplementary Demands for Grants during the Budget session of Parliament in February, when it can seek additional spending.
The list of drought-hit taluks will be notified, following Chief Minister Siddaramaiah's approval.
Despite declining by three percentage points in 2022-23 (FY23) compared to FY19, Odisha's unemployment rate remains higher than the average in India.
Less than half of rural households are engaged in agriculture.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
The country's unemployment rate in July fell to 6.80 per cent, the lowest level in the last six months, amid rising agriculture activities during monsoon, according to Centre for Monitoring Indian Economy (CMIE) data. The unemployment rate dropped to 6.80 per cent in July from 7.80 per cent in June, the CMIE data said. Rural unemployment declined 6.14 per cent to 272.1 million last month from 265.2 million or 8.03 per cent in June, it said.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
The amount allocated for 2019-20 is 11 per cent higher compared to Rs 55,000 crore allocated for the year 2018-19.
The unemployment rate shot up to a record 10.9 per cent in the week that ended on December 18, points out Mahesh Vyas.
During the UPA government's second term in office, rural India's consumption expenditure grew at a faster pace than urban India's - for the first time since 1991.
Wedding planner WedMeGood estimates that the average wedding budget has surged to Rs 36.5 lakh this year, with destination weddings averaging Rs 51 lakh.
Uttar Pradesh Chief Minister Yogi Adityanath on Wednesday directed officials to take strict action against illegal occupants of any land, be it government or private, without discrimination.
The job guarantee scheme is set to provide food grain as part of wages.
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII president Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth.
The Bharatiya Janata Party on Thursday released its manifesto for the October 5 Haryana assembly polls, promising a monthly assistance of Rs 2,100 for women, two lakh government jobs for the youth and guaranteed government job for Agniveers hailing from the state.
The opposition Bharatiya Janata Party on Friday came down heavily on the Congress government in Karnataka for flaunting their 'rich fortunes and luxury lifestyles' following a viral video on social media showing Chief Minister Siddaramaiah and his cabinet colleague B Z Zameer Ahmed Khan in a private jet.
The Reserve Bank of India's (RBI's) State of the Economy report for October acknowledged a slowdown in some high-frequency indicators but expressed confidence in a recovery, aided by consumption demand during the festival season. "In India, aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of 2024-25 as festival demand picks up pace and consumer confidence improves," said the report released on Monday.
'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'
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