Page 85 - Indian Economy

Manmohan vs Modi: False debate on both sides

The Modi government needs to thank previous governments for midwifing the GST and highlighting its value, which helped overcome Modi's own reservations about the reform

Land record digitisation will improve GDP: Rural development minister

Digitisation of land records and registration is expected to improve the GDP of the country by about 1.5 per cent, Rural Development Minister Giriraj Singh said on Thursday. He made the remarks at the inauguration of the two-day Bhumi Samvaad on 'Sharing of Best Practices in Land Management Modernization'. Addressing officers from across the country at the conference, Singh emphasized that saturation of the digitisation process of land records and registration will help mitigate the huge pendency of court cases involving land disputes. It will also help in improving the ranking of the country in terms of ease of doing business", he said. "Digitisation of land records and registration is expected to improve the GDP of the country by about 1.5 per cent," he said. Stressing on the importance of emerging technologies such as blockchain and CORS in the modernisation process of land management, he said this will go a long way in achieving the objectives of the government under ...

Monetary policy: RBI dashes early rate-cut hopes, maintains status quo

RBI says lending rates not hiked enough

No quick fixes, took bold reforms to nurture economy: Govt in White Paper

The 59-page document, which compared the last two decades of the United Progressive Alliance (UPA) versus the NDA government, criticised the former for falling short of delivering on crucial reforms

NDA removed supply hitch, created infra: White Paper on Indian economy

Cites transparent allocation of public resources as a catalyst for public welfare

'Sporadic' vs 'saturated': NDA's dig at UPA govt's 10 years in White Paper

A subtext running through the white paper is that a "coalition of 26 parties" couldn't take crucial decisions, such as rolling out the goods and services tax (GST) regime

Delivery of welfare schemes under Modi govt efficient: White Paper

It said during the 10-year rule of the Modi government, the amount unspent meant for schemes in social and rural sectors was just around Rs 37,064 crore

Overdependence on external commercial borrowing under UPA: White Paper

The white paper, tabled in Parliament on Thursday, compared the UPA government's two consecutive terms, starting 2004, vis-a-vis the NDA's tenure, beginning 2014

Land and the problem of inequity

By 2050, India will be the most land-scarce major economy in the world, but any solution first needs to recognise the unequal deployment of land

UPA ruined Indian economy, 'White Paper' to highlight deficiencies: BJP

Bharatiya Janata Party (BJP) MP Jayant Sinha said on Wednesday that the Indian economy was ruined by the end of the United Progressive Alliance (UPA) tenure in 2014, adding that the 'White Paper' likely to be presented by the Centre in Parliament would highlight the deficiencies in each sector that existed at that time.The government announced in the Union Interim Budget presented on February 1 that it would release a 'White Paper' to compare the economic performance of the Congress-led UPA government's 10 years with that of the BJP-led NDA government's 10 years.Speaking to ANI, Jayant Sinha said, "It is necessary that we present before the people that how a change has set in into the economy. There were deficiencies in every sector. If the economy is shining today and going ahead rapidly, it is due to our policies & work in these 10 years."Highlighting the economic mismanagement by Congress and the UPA during its tenure, Jayant Sinha, who was also the Minister of State (MoS) ...

Namonomics vs Manmohanomics: Modi or Singh, who has done better on economy?

Comparing economic management under Prime Minister Narendra Modi and his predecessor, Manmohan Singh - a white paper

Animal spirit back in economy, private investment picking up: CEA

The expression 'animal spirits' was coined by celebrated economist John Maynard Keynes to refer to investors' confidence in taking action in terms of investment

Unusual election year Budget signals PM Modi's sky-high confidence

India's economy is now the fifth-largest in the world, from the tenth-largest when Modi first took office a decade ago, and the fastest expanding among major nations

Interim Budget indicates the way forward

On the external sector, the Finance Minister said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts

Sluggish participation by foreign companies lowers oil revenue estimates

The budget estimates revenue collection from the Petroleum sector at Rs 14,922 crore

No change in rate; will the stance change?

Both the US Fed and Bank of England have taken the tightening bias off the table. Will the RBI follow the same path?

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

The Indian economy is expected to grow at an average rate of 6.7 per cent per annum until the end of the decade, CRISIL said in its latest report. The economy will grow at this rate between the financial years 2024 to 2031, a notch above the pre-pandemic average of 6.6 per cent. According to CRISIL, the key contributor to this trend will be capital. This is a result of the investment-driven strategy of the government when the private sector was shy of making investments. The government increased capital expenditure significantly to support building expenditure and providing interest-free loans to states to bolster their own investment efforts, the report said. CRISIL said that after a robust 7.3 per cent growth this fiscal, there will be moderation to 6.4 per cent in the next financial year. There is also a need to monitor the impact of the escalation of the Middle East conflict on energy and logistics costs, it said. In India, the inflation level of 5.7 per cent in December 202

India certain to become 3rd largest economy in our third term: PM Modi

Prime Minister Narendra Modi on Friday said India is moving fast and will become the world's third largest economy in the third term of his government. The general elections are due in April-May this year. Addressing the Bharat Mobility Global Expo here, the prime minister also announced that 1,000 modern rest houses in Phase-1 will be constructed along national highways for truck and taxi drivers. "India is certain to become the third largest economy in the world in the third term of our government," he said. Further, Modi said that in the 10 years before 2014, around 12 crore vehicles were sold in the country. However, since 2014 more than 21 crore vehicles have been sold in the country, he added. According to him, 10 years ago, around 2,000 electric vehicles were being sold. Now 12 lakh electric vehicles are being sold. In the last 10 years, around 60 per cent growth has been registered in passenger vehicles, he added. He also talked about the advancements India is making in

Growth rate of about 7% next year eminently doable, says DEA secretary

Economic Affairs Secretary Ajay Seth on Friday said Budget proposals are non-inflationary and will help achieve 7 per cent-plus growth rate for the fourth year in a row in 2024-25. Although there are external risks arising from geo-political tensions, "the growth rate of about 7 per cent next year is eminently doable," Seth told PTI in a post-Budget interview with PTI. Having contracted 5.8 per cent in 2020-21, the Indian economy recorded a growth rate of 9.1 per cent in the following year. The Gross Domestic Product (GDP) growth rate was 7.2 per cent in 2022-23 and is estimated to inch up marginally to 7.3 per cent in the current financial year. The interim Budget 2024-25 projected a nominal GDP growth 10.5 per cent against the 11 per cent for the current fiscal. The nominal GDP for BE 2024-25 has been projected at Rs 3,27,71,808 crore, assuming 10.5 per cent growth over the estimated nominal GDP of Rs 2,96,57,745 crore, as per the First Advance Estimates of FY24. "The estimates,

Budget focused on economic resilience, creates opportunities for all

It carefully allocates public resources and commits to reduce the country's fiscal debt