Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
India's goal of self-reliance has been paramount in the policy and practice of the country. The COVID-19 crisis gave us lessons on how to speed up efforts in that direction, he said.
Riding high on the hopes of a normal monsoon, the agriculture ministry aims to increase foodgrain production by 6.35 million tonnes to a record 298.3 million tonnes in the 2020-21 crop year. The foodgrain output in the 2019-20 crop year (July-June) is estimated at an all-time high 291.95 million tonnes, as per the second advance estimates released by the ministry in February.
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
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
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
Till date, MP has procured around 12.77 million tonnes of wheat, which is expected to reach 13 million tonnes by the time the process ends in the next few weeks.
'The government has failed to understand the seriousness of the situation, and that's why they are underestimating the problem.' 'They think some tinkering here and there will fix the economy automatically.'
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
'It is not simply demonetisation or GST, it is this government's failure to manage the financial sector crisis.'
Ensuring health insurance for all workers would be major challenge for the industry that is already grappling with cash crunch, and the government should have borne the cost.
India's overall retail inflation eased to 4.41 per cent in September, helped by falling commodity prices, but rural inflation was at 5.05 per cent
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 had upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms would help stabilise rising levels of debt.
The prices will be decided during the time of launch, as TVS hopes that given the cost increase, the government may consider bringing down GST for two-wheelers.
The country will not allow any "unilateral action" on its border and will pay any cost to thwart such attempts, he told the Bharatiya Janata Yuva Morcha's state conference.
The plan could mature into either an umbrella programme for urban youths similar to the Garib Kalyan Rozgaar Abhiyaan or a modified urban-focused version of MGNREGS.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'This debate is going on all over the world and everybody is saying that only GDP cannot estimate the real (economic) situation of a country.'
With car penetration of around 22 per 1,000 population, India continues to be a big opportunity to sell cars, especially in rural areas.
'Why shouldn't we talk against the BJP when it is solely responsible for bringing in these three laws by riding rough over Parliamentary procedures and norms?' 'We will talk against the BJP because it is the sole political party responsible for pushing these destructive farm laws'
'India is in a slowdown which most of us have not seen in our living memory.'
The current wave of devastating flood that has lashed 26 out of the total 27 districts in Assam, has left lakhs of people from rural Assam penniless after their houses and paddy fields were destroyed in the flood waters.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
'The roadmap ahead seems very difficult especially in the rural areas where there is very poor infrastructure, vaccine reach and hesitancy.' 'These are a deadly cocktail for the next wave.'
Amid the din and noise created over black money and corruption, the proposals to revitalise the rural economy by strengthening agriculture were simply ignored, says food security expert Devinder Sharma.
He said manufacturing ethanol and biogas from waste could result in savings to the tune of Rs 5 lakh crore annually
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
Kerala's Tirur betel leaf, Tawlhlohpuan and Mizo Puanchei from Mizoram, and Palani Panchamirtham, a temple 'prasadam' from Tamil Nadu have been awarded Geographical Indication tag.
'Right now, we are increasing production in anticipation of the demand during the festive season.' 'If the demand doesn't come back, all the production will languish in the factories.'
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
'Mamata has used minorities only as her vote bank.' 'In her entire election campaign Mamata did not utter a single sentence against the RSS.'
Experts say a combination of improving asset quality and NBFCs' weak balance-sheets bodes well for both corporate and retail banks.
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