Page 2 - Economic Reforms

Need far-reaching reforms for India to be developed nation

Since 1990, 34 middle-income economies covering only around 250 million people have managed to shift to high-income status

Road to Viksit Bharat: India will need continuous reforms at all levels

The government's focus should be on rapid economic growth, and it would do well to avoid issues that could hamper its ability to intervene in economic matters effectively

Govt committed to 'major economic reforms', says PM Narendra Modi

PM said, his government has chosen the path of reforms to bring about a change in the lives of the poor, the middle class, deprived people, the urban population, and the youth

Budget 'nudges' in the right directions

But much bolder and comprehensive reforms are needed

Close coordination with govt helped in economy's quick revival: RBI Guv

Governor Shaktikanta Das on Friday said the Reserve Bank's relations with the government have been "smooth" during his nearly six-year term, and credited the close coordination between the two for the quick revival of the economy after the pandemic. Speaking at an event organised by Financial Express here, the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term. "I am saying from my experience. Nobody expects RBI to be a cheerleader. I have had no such experience," he said, responding to a specific question about a lament made by one of his predecessors in a recent book. Asked if he is open for a new term at Mint Road, Das said he is very focused on the current assignment and does not think of anything outside that. Das said the RBI is optimistic that its estimate of 7.2 per cent growth for FY25 will be met, and added that with steady growth, the focus of the policy has to be "clearly and unambiguously" on inflation

Budget to see historic steps; major economic, social reforms: Prez Murmu

The pace of reforms will be accelerated in tune with the aspirations of people of India for rapid development, says Droupadi Murmu, President

Sri Lanka economic recovery hinges on sustaining ongoing reforms: IMF

The key to Sri Lanka's transition from stabilisation to full economic recovery is sustaining the ongoing reform momentum, the IMF said on Friday after it decided to release the third tranche of USD 336 million from the USD 2.9 billion four year bailout package to the island nation. While releasing the third tranche, the IMF on Thursday noted that Sri Lanka's economy has started recovering, inflation remained low, revenue collection was improving, and reserves continued to accumulate but warned that despite these positive developments, the economy is still vulnerable and the path to debt sustainability remains knife-edged. We encourage the (Sri Lankan) authorities to continue to build on these hard-won gains and remain steadfast with their reform commitments, Peter Breuer, the head of the Sri Lanka IMF mission, told reporters here on Friday. In April 2022, Sri Lanka declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial

Reforms in customs duties, GST, commerce to push India's growth: GTRI

Implementation of key strategic reforms such as simplification of customs duty structure, GST, and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth, GTRI said on Thursday. Economic think tank Global Trade Research Initiative (GTRI) also said that India is standing on the cusp of a transformative era and there is an urgent need for comprehensive economic reforms. "From simplifying the convoluted customs duty structure to pioneering regulatory sandboxes for cryptocurrencies, and from boosting the MSME sector through GST (Goods and Services Tax) reforms to fortifying our energy security, this agenda lays the foundation for a robust, resilient, and globally competitive India," it said. It said that the current basic customs duty structure, which affects USD 680 billion worth of imports, has not been reviewed in 20 years, leading to over 27 different duty rates and over 100 specific or mixed duty slabs. Currentl

Reforms, PLI: CEOs expect new govt to maintain policy continuity

The election results coincide with a slowdown in manufacturing activity for the second consecutive month in May

Indian PE, VC investments decline 35% to $39 billion in 2023: Report

The Indian private equity and venture capital investments declined by about 35 per cent to around USD 39 billion in 2023 from USD 62 billion in 2022, according to a joint report by Bain & Company and IVCA released on Thursday. The private equity (PE) investments in India dropped by 18 per cent to USD 29.6 billion from a peak value of USD 36 billion in 2022. The drop in VC investments was much sharper, with total investments at USD 9.6 billion in 2023 versus USD 25.7 billion in 2022. "Mirroring the global trend, Indian private equity and venture capital (PE-VC) investment softened by about 35 per cent from approximately USD 62 billion in 2022 to around USD 39 billion in 2023, returning to pre-Covid-19 activity levels," the report said. The report saw 2023 as a marquee year for Indian exits with exit values soaring by 15 per cent to USD 29 billion with sale of shares in 340 entities. "In a year marked by global economic uncertainties, India's private equity landscape demonstrated ..

BJP's Sankalp Patra lacks plans for structural economic reforms, says Citi

The general election starts on April 19 and will be held in seven stages until June 1, with the results expected on June 4

Waiting for the states

The future of key economic reforms seems to depend more on the states

India's stock market value to reach $10 trillion by 2030, says Jefferies

The nation's market, currently the world's fifth largest at $4.5 trillion, briefly overtook Hong Kong last month. Still, its weight in global stock indexes is below 2%

Reforms in last 10 yrs are foundation of growth over next decade: Jefferies

Strong reform measures initiated by the Prime Minister Narendra Modi-led government in the last ten years have laid the foundation of a solid economic growth in coming decades, Jefferies Equity Research outlook said. It also said that India would become the third largest economy by 2027 and expected to achieve a market capitalization of USD 10 trillion by 2030. "With a consistent history of 10-12 pe cent CAGR (compound annual growth rate) over the last 10 and 20 years, India is now the fifth largest equity market and market cap will likely to touch USD 10 trillion by 2030," the report said. It added that continued reforms should maintain India's status of being the fastest growing large economy. Over the last 10 years, India's GDP has grown by 7 per cent CAGR in USD terms to USD 3.6 trillion, jumping from the eighth largest to the fifth largest economy. "Over the next 4 years, India's GDP will likely touch USD 5 trillion making it the third largest economy by 2027, overtaking Japa

Best of BS Opinion: External exposure, Growth sans big bang reforms & more

Here is the best of Business Standard's opinion pieces for today

Growth sans 'big bang' reforms

India's economic resilience shows incremental reforms are more effective

Economic reforms implemented 'despite the odds', says FM Sitharaman

Rating agencies must take note of the country's transparent fiscal consolidation path, FM says

Evaluating the Indian economy's resilience

A growth trajectory of 6.5 to 7.5 %, centred around 7 %, is reasonable in the coming years, barring the eventuality of simultaneous external shocks

Palliatives, not solutions: When politicians hide failures under largesse

Voters have learnt to look for what they can get today, not tomorrow, and seem to choose parties offering the most generous packages - which encourages a rush to raid the treasury - notes T N Ninan

FATF removes offshore tax haven Cayman Islands from its 'grey list'

In its review published on October 27, FATF has added Bulgaria to the grey list