The momentous performance of the Indian economy in recent times has rekindled dreams – and aspirations- of the country emerging as a developed economy in the near future. It is well recognised that to bring this dream to fruition, it is important that the economy continues the high and resilient…
Browsing CategoryEconomy
Enabling Insurance for All
23 Feb 2023 India’s overall insurance penetration stood at 4.2 per cent in FY21, with life at 3.2 per cent and non-life at 1.0 per cent against a global average penetration of 7.4 per cent, with life at 3.3 per cent and non-life at 4.1 per cent. In terms of insurance…
Budget Displays a Vision to Sustain Growth Amid Global Uncertainties
07 Feb 2023 The Union Budget 2023-24 was presented at a time when domestic growth drivers were reviving while global uncertainty continued to be high. At such a juncture, the Budget was expected to articulate a growth strategy, which it did. The finance minister focused on driving up public capital…
CII’s Pre Budget Recommendations
24 Jan 2023 The Finance Minister Ms Nirmala Sitharaman will be presenting her fifth Union Budget on 1st February. She has displayed a keen understanding of the macroeconomic backdrop, crafting her Budgets in line with the requirements of the economy. In particular, her mini-Budgets announced during the pandemic have been…
India to Remain Growth Outperformer Despite Global Headwinds
19 Jan 2023 A multitude of headwinds continue to make global growth prospects gloomier. These include rising interest rates, geopolitical tensions, which are keeping international commodity prices elevated, broader European energy insecurity, and lingering effects of Covid-19 (particularly in China). As advanced-economy central banks raise rates aggressively to tame inflation, they…
Global Challenges to the Indian Economy
05 Jan 2023 Prospects for global growth this year and next have progressively been revised downwards. The International Monetary Fund (IMF) expects global GDP growth at 3.2 per cent for 2022 and 2.7 per cent for 2023 (WEO October 2022), revising down the projections for 2023 by 20 percentage points compared…
Budget Must Rationalise, Simplify Taxation
28 Dec 2022 The last few years have been truly tumultuous for the global economy, with unprecedented economic and geopolitical developments. Within this changing external scenario, the Indian government has done well to maintain stability in tax rates. Today, the country is recognised for its strong growth performance and continued…
Infrastructure Financing: The Way Forward
23 Sep 2022 The global economy is going through turbulent times with the protracted war in East Europe and evolving geopolitical situation showing no signs of abatement. Thus, expectations of a recession in Europe and the USA are gathering momentum. At the same time, the zero Covid-19 policy in China,…
Catapulting Economic Growth with Infrastructure Development
29 Aug 2022 Conventionally, infrastructure development encompasses creation of robust transport & communication systems, civic amenities, power & energy generation / supply facilities, etc. Major infrastructure development initiatives were undertaken by western block countries through the 50s and 60s. China followed suit, though the 80s and 90s. But India’s story…
India’s Burgeoning Infrastructure
16 Aug 2022 India has long been connected globally, since the age of the first Spice Route, and has continued to strengthen its ties with the world still. Such has the augmentation of exports been, that India’s merchandise trade deficit in March 2022 was $18.5 billion, with exports increasing by…