The United Nations on Wednesday pared down India's growth forecast by 20 basis points to 5.8 per cent for 2023 calendar year, citing higher interest rates and risks of recession in the developed world weighing on investment and exports. "Economic growth in India is projected to moderate in 2023, with higher interest rates weighing on investment and slower global growth weakening exports," it said in its latest World Economic Situation and Prospects report. The report has projected global trade to contract 0.4 per cent and the world economy to grow at 1.9 per cent in 2023.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
At its peak five years ago, it was a lifeline for 5.5 crore, or one in every three rural homes
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
If the corruption issue doesn't claim Mr Baghel, the Congress's chances in the assembly election later this year are good, observes Aditi Phadnis.
The fall in urban sentiments in June is worrisome, observes Mahesh Vyas.
Bhagwant Mann and Arvind Kejriwal are realising that it is not a cakewalk to run a full state that is plagued with a fiscal deficit and where emotions run high at the drop of a hat, observes Sudhir Bisht.
'Nobody is talking about the inequality that is going to come.'
Taking Narendra Modi head-on, Rahul Gandhi on Saturday accused Gujarat government of offering Rs 40,000 crore worth of farmland at throw away prices to an industrialist while seeking higher rates from the Air Force.
Around 275,000 migrant labourers and their family members have returned to the state. According to the state government, this number could exceed 1 million by the end of this month. As the NDA government in Bihar is scheduled to face polls at the end of this year, providing livelihoods to these people is on the top Chief Minister Nitish Kumar's agenda.
From Saha joining the saffron party in 2016 to being made chief minister last year in a brand renewal exercise last year, it has been a short but upward journey for the 69-year-old dental surgeon-turned politician.
India's gig workforce is expected to expand to 2.35 crore by 2029-30 from 77 lakh in 2020-21, a NITI Aayog report said on Monday, and recommended extending social security measures for such workers and their families in partnership mode as envisaged in Code on Social Security. The report titled 'India's Booming Gig and Platform Economy' further said gig workers are expected to form 6.7 per cent of the non-agricultural workforce or 4.1 per cent of the total livelihood in India by 2029-30. Gig workers can be broadly classified into platform and non-platform workers.
The income inequality gap was found to be highest in South Africa and lowest in Denmark.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
Rural outlay may go up 23% to reduce pains of demonetisation
The incident took place on Wednesday afternoon in Demchok sector, located 250 km east of Leh, where the work for linking a village with 'hot spring' was being undertaken under the MNREGA.
Sukanya Verma gives us a lowdown on all those wonderful movies she saw and movies you need to see as and when they arrive to a screen or streaming space near you.
'They are afraid that if they approach a police station for filing a complaint they might themselves get arrested under some random charges.'
The government is targeting export of goods and services worth $2 trillion by 2030.
A day after the Congress brainstormed over its electoral reverses, senior leader M Veerappa Moily on Monday said Sonia Gandhi should take "full control" of the party with a free hand to change non-performing leaders, and asserted that a "mere culture of tweets and social media propaganda" would not take the organisation forward.
The notion that the BJP gained its increased tally by wiping out the Left parties and the Congress is completely misleading. Equally misleading is the belief that the TMC held its ground in all its existing seats. A little more than a fifth of the seats Mamata Banerjee's party had won in 2016 was lost to the BJP this time.
When was the last time we heard this government speaking of the disaster in primary education, rather than Ganga cruises and cheetahs? Less money -- Rs 88,000 crore -- was spent by the Union government on education in its last Budget than has been allocated to the Bullet train, notes Aakar Patel.
In two and a half years, first PM-like action by Modi: Rahul Gandhi on India's surgical strikes
NDA under Mr Modi is as focused on the rural poor with doles and hand-outs as the UPA under Dr Singh was.
The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International said that taxing India's ten-richest at 5 per cent can fetch entire money to bring children back to school. "A one-off tax on unrealized gains from 2017-2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.
In a notification, the Union Home Ministry said an eligible beneficiary desirous of receiving the benefit under the 'Central Scheme for Assistance to Civilian Victims/Family of Victims of Terrorist/Communal/LWE Violence and Cross Border Firing and Mine/IED Blasts on Indian Territory' is required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.
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.
'The Modi government must create conditions to integrate millions into the rural economy as many migrants are certainly not going to return to live an undignified life,' notes Ramesh Menon.
The new government may enhance the Plan expenditure for 2014-15 by around Rs 11,000 crore (Rs 110 billion) in the Budget next month, which would be about 2 per cent higher than what was provided in the previous fiscal budget.
Tamil Nadu is the celebrated home of the 'social justice' movement in the country, yet caste differences and violence has only been increasing in numbers and becoming more brutal in recent years, observes N Sathiya Moorthy.
The focus is likely to be on consolidation and improvement of existing rural-centric programmes to ensure their completion ahead of the next general elections in 2019, rather than announcement of new schemes. Sanjeeb Mukherjee and Arup Roychoudhury report.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'The Jharkhand government is increasingly intolerant of voices of dissent.' 'Recently 20 persons, including activists, writers and academics, were booked for sedition.' 'Many of them have been critical of the government's apathy towards Adivasis,' notes Siraj Dutta.
'It is just an excuse to say that the Centre has run out of money.' 'Pruning these schemes would mean hard time for the people of India.'
Archana Ramanan, a homemaker from Tamil Nadu, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The government is doing things in agriculture that count for little, says Shreekant Sambrani.
For states like West Bengal, Bihar, Odisha, Jharkhand and Uttar Pradesh, where migration is high, the return of workers could be as much an opportunity as a liability. All states have launched portals to register migrant workers; additional fields like nature of employment and remuneration in the past 2-3 years are being added to help in skill mapping.
The government last fiscal missed its direct tax collection target, and for this financial year it has set a higher revenue mobilisation goal of Rs 13.80 lakh crore.
The party's research department team, which Rajya Sabha member M V Rajeev Gowda heads, has sifted through the suggestions received in the last five months, and the manifesto is slated to be released later this month, reports Archis Mohan.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
