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…
Browsing CategoryEconomy
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…
Scaling-Up Micro, Small and Medium Enterprises
25 Jul 2022 Historically, India has supported and encouraged micro, small and medium enterprises (MSMEs) through various policy initiatives by providing them with subsidized credit, technical assistance, excise tax exemptions and preference in government procurement (Expert Committee on MSMEs, RBI, 2019). The Small-Scale Reservation Policy (1967), which attempted to shield…
Despite Pressures, the Rupee’s Remarkable Resilience
23 Jul 2022 Even as the rupee has fallen sharply against the dollar, the depreciation has been relatively lower unlike previous times The Indian rupee has depreciated by around 7% against the U.S. dollar, since the start of the year, in response to various domestic and global factors. Specifically, a…
Five years of GST and the way forward
13 Jul 2022 GST is seen as a shining example of cooperative federalism aimed at taking the country towards a one-nation, one-tax and one-market regime. The unified Goods and Services Tax (GST), lauded as a historic and game-changing reform, completed five years of its successful implementation on June 30, 2022.…