Page 4 - Economic Systems

Credit growth expected to improve aided by govt's push on public spending

Bank credit offtake is expected to pick up following normalisation of economic activities aided by the government thrust on public expenditure in current fiscal year, a report said. According to the Care Edge report, the gross non-performing assets (GNPA) ratio hit a six-year low of 5.9 per cent in FY22 but remained above the pre-asset quality review of 2015-16. However, it said, India's NPA ratio is one of the highest among the comparable countries despite gradual decline. Non performing loans eased in advanced economies due to continued deleveraging, and institutional and government intervention, it said. As the Indian economy has navigated the pandemic-induced shocks, it said, the bank credit growth by scheduled commercial banks (SCBs) improved post-August 2021 to reach 13.1 per cent in early June 2022, a rate last recorded in March 2019. Apart from retail, the major driver of this growth has been the wholesale credit, which reported double-digit growth after witnessing a ...

India witnessing early signs of sustainable economic revival: Deepak Parekh

The country's economy is seeing early signs of sustainable revival amid a volatile global environment, veteran banker Deepak Parekh said on Monday. Addressing the shareholders of HDFC Life at the 22nd Annual General Meeting, he said there is a pick-up in domestic economic activity due to an increase in private consumption. "We remain optimistic about the resilience of India's economy despite the high volatility in the global environment. We are now witnessing early signs of a sustainable economic revival, Parekh, who is the Chairman of the private life insurer, said. He said high growth in non-oil and non-gold imports reflects the pick-up in domestic demand and the domestic economic activity is fueled by private consumption and rising discretionary spending. According to him, the expected normal south-west monsoon this year is likely to support rural consumption. "We remain vigilant of the implications of the current geopolitical tensions, elevated commodity prices, growing extern

Without political stability, there would be no economic stability: Pak PM

Pakistan Prime Minister Shehbaz Sharif has said that without political stability, there would be no economic stability as he invited all stakeholders to join hands in formulating a long-term plan

WEF 2022: Globalisation's cheerleaders grasp for new buzzwords at Davos

DAVOS, Switzerland (Reuters) - World leaders, financiers and chief executives said they were leaving this week's World Economic Forum with an urgent sense of the need to reboot and redefine 'globalization'.

Back to snow: World Economic Forum reverts to Jan for 2023 annual meeting

DAVOS, Switzerland (Reuters) - The World Economic Forum will revert to January for its 2023 annual meeting in the Swiss ski resort of Davos after moving to the spring for the first time due to the coronavirus pandemic.

Alberto Alesina, RIP: One of the best economists of the last generation

Alesina was to post-1945 political economy what Einstein was to physics

The inevitability of classical economics

What we came to regard as 'the normal' was anything but normal because the state, like nature, wasn't in the business of compassion and equity

Growth, income, poverty and the Nobel

There is good reason for caution in applying the results of randomised control trials across space and time

India has limited room to ease fiscal policy due to high debt: Fitch

It said GDP (gross domestic product) growth is likely to rebound to 7.1 per cent next year

India's economic growth was negative more often before 1947 than after

The average growth in the 50 years leading to Independence was 0.06%

A new India

Contrary to popular discourse, non-market systems are also almost always unfair since they concentrate power and resources in a few hands