Page 4 - Economists

'India's economy has parallels to 2000s when growth averaged over 8%'

The economists at Morgan Stanley also said the economy appears to have room for even further expansion, given the path for additional capital expenditure - especially from private businesses

Needs to sustain growth to hit bottom echelons of developed country: Sanyal

Economist Sanjeev Sanyal on Wednesday said India needs to sustain the current growth momentum to reach the "bottom echelons" of being considered a developed world by 2047. Sanyal, a full-time member of the Economic Advisory Council, suggested that developing fast is imperative because by 2047, India would have aged and be in the same place as China is right now. "We still remain a very poor country. So, we have to sustain this performance for 25 years. Only then are we going to get to the bottom echelons of being a developed country in 2047 when we will be 100 years of freedom," Sanyal said while addressing the India Global Forum here. He said this is a window of opportunity before the country, and we ought to make it work by remaining focused on economic growth and not getting distracted by other things. Sanyal said it is essential that we continue to undertake reforms to realise the growth potential and listed out some essential priorities. He said the judicial side requires a l

India eliminates extreme poverty: Economists citing consumption expenditure

India has eliminated extreme poverty, a commentary authored by economists Surjit Bhalla and Karan Bhasin in a leading American think-tank The Brookings Institution said, citing the just released consumption expenditure data for 2022-23. In the article, the two noted economists cite the data to say real per capita consumption has grown 2.9 per cent per annum since 2011-12, with rural growth at 3.1 per cent being significantly higher than urban growth of 2.6 per cent. Also, there has been an unprecedented decline in urban and rural inequality. The urban Gini declined from 36.7 to 31.9; the rural Gini declined from 28.7 to 27.0. The Gini coefficient, or the Gini index, measures the inequality of income distribution, whereas a higher value closer to one (or 100 per cent) represents greater inequality. "In the annals of inequality analysis, this decline is unheard of, and especially in the context of high per capita growth," the article states. High growth and a large decline in inequa

India built best digital economy, finance infra: Nobel winner Spence

Noting that India is a major economy with the highest potential growth rate right now, Nobel laureate economist A Michael Spence said the country has successfully developed by far the best digital economy and finance architecture in the world. Spence, who was awarded the Nobel prize in Economic Sciences in 2001, shared his views during an interaction with students and faculty at the Bennett University in Greater Noida on Monday. "The major economy with the highest potential growth rate right now is India. India has successfully developed by far the best digital economy and finance architecture in the world. It is open, competitive and delivers services of an inclusive kind to a vast array of territory," the Nobel laureate said, according to a statement issued by the varsity. Spence also pointed out that the world is experiencing a "kind of regime change in the global economy". Tracing the evolution of the global economy after World War II, Spence said that the 70-year-old global ..

Interim Budget 2024 unveils growth path with fiscal prudence: Economists

Finance Minister Nirmala Sitharaman announces fiscal measures aiming at sustainable growth and fiscal consolidation, drawing positive reactions from economists

Economists increasingly sure US will avoid recession, shows survey

Also, inflation has been falling faster than expected, and the labor market is cooling but not collapsing

56% of chief economists expect global economy to weaken in 2024: WEF report

The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative AI

WPI turns positive after 8 months in November as food, mineral prices jump

The uptick in factory gate inflation comes days after retail inflation bucked the downward trend and touched a three-month high in November due to a seasonal spike in vegetable prices

Complex, not complicated

Navigating the current economic and political challenges demands a shift in our analytical lens to one that refrains from simplifying problems

India becoming middle income country within realms of possibility: NK Singh

Talking about the challenges that India needs to address, he stressed the need for ensuring the sanctity of contracts across governance

Finance Commission confronts fiscal prudence challenges with minimal ToR

Experts say minimum ToR issued to avoid controversies and simplify state memoranda

Noted economist Professor M Kunjaman found dead at his residence in Kerala

Noted economist Professor M Kunjaman was found dead at his residence here on Sunday, police said. He was 74. Police said he was found dead at his residence at Sreekaryam near here, and they were informed by the residents' association. Kunjaman, also a Dalit rights activist, was a professor of economics at Kerala University for over two decades. In his condolence message, Chief Minister Pinarayi Vijayan said Kunjaman was a genius who overcame adverse social circumstances with his sheer determination. "Noted for his original understandings and opinions, he had his own vision for Kerala's development. His autobiography, 'Ethiru' is a reflection of the realities of life," Vijayan said, adding that Kunjaman was a teacher with many disciples and a noted writer. The chief minister said Kunjaman's death was a great loss for Kerala.

Day after Q2 GDP data, economists raise India's FY24 growth forecast

However, analysts continue to exercise caution for the second half of the current fiscal year and FY25 as consumption remains a concern

BFSI Summit: 'Inclusive economic growth needs push for capex, job creation'

Samiran Chakrabarty, MD and chief economist, Citi Research pointed that it was quite natural for income inequalities to worsen when the country witnesses high GDP growth

Inclusive growth a global challenge: Sonal Varma at BS BFSI Summit 2023

At the BS BFSI Insight Summit 2023, economists unanimously said that the global economy is facing difficulties and there is no room for complacency in India

BS BFSI Summit: Soumya Kanti Ghosh to Sajjid Chinoy, here're key economists

Economists Panel's theme on October 30: Is inclusive economic growth still a mirage?

India will account for 18% of global growth by 2028, to play key role: IMF

India's faster growth compared with China's economic slowdown could see the South Asian nation make a bigger contribution to global growth than its larger rival

This is last clear chance for MDBs: Ex-US Treasury secy Lawrence Summers

Nothing important is ever easy but we are increasingly seeing a coming together of the world. I am encouraged by the way the shareholders have come together

Appeal to 'slow mind' to wean investors off F&O

Investors' 'fast mind' gets lured towards the F&O segment, enticed by the prospects of quick gains. A campaign targeting the 'slow mind' can induce prudence

Indian-origin economist Shanmugaratnam sworn in as Singapore's president

Tharman, who has served Singapore all his life in public service, was overwhelmingly endorsed by the city-state's predominantly Chinese society