ECONOMY


Moneylife Digital Team 08 August 2024
The monetary policy committee (MPC) of Reserve Bank of India (RBI) on Thursday decided to maintain the status quo on the repo rate, the central bank's rate for short-term loans to banks, unchanged at 6.5%. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25% and the...

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Prachi Salve (IndiaSpend) 05 August 2024
Unable to eat, and depending solely on oral rehydration solutions, Ahmed* (40) spent the last 15 days of his life hoping to get an endoscopic procedure at the All India Institute of Medical Sciences (AIIMS) in Delhi, 350 km away from his hometown in Farrukhabad, Uttar Pradesh. He died on July...

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On 4th June,  the Lok Sabha election results shocked the market and jolted the ruling Bharatiya Janata Party. But the market was perturbed for barely two hours. By noon, stocks started recovering and, within a week, surpassed the all-time high it had hit just before the election results. A...

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Moneylife Digital Team 26 July 2024
While endorsing enhancement in the asset quality of banks, led by improved borrower selection, more effective debt recovery and heightened debt awareness among large borrowers, the Economic Survey says since the inception of the Insolvency & Bankruptcy Code (IBC) in 2016, underlying defaults...

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(I apologise in advance if the use of this old Biblical analogy hurts anyone’s feelings, but honestly, I cannot think of a more appropriate phrase.)   Privatisation of public sector units (PSUs) is the government’s stated policy.    Policies are usually contested and this one is no...

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Union finance minister (FM) Nirmala Sitharaman, starting with the continuing global uncertainties and India’s continued economic resilience, chose to deviate from the path of economic transition to Viksit Bharat to a path of least resistance. It reflects the compelling political necessity....

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Nileena Suresh (IndiaSpend) 25 July 2024
This year, the Union government allocated Rs 3.27 lakh crore or 6.8% of total expenditure under the gender budget, which includes schemes for the welfare of women. This represents a 19% increase compared to the revised estimate for 2023-24 and is also 5% higher than the interim budget for...

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Moneylife Digital Team 23 July 2024
Finance Minister Nirmala Sitharaman presented the Union Budget for FY24-25 in Parliament on Tuesday, the first full Budget of prime minister (PM) Narendra Modi's third term. The Budget focused on nine key priorities aimed at generating opportunities for all sections of society.    The FM...

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Moneylife Digital Team 23 July 2024
Despite the global economy remaining under the grip of policy uncertainties, India's economic growth continues to be the shining exception and will remain so in the years ahead. Union minister of finance and corporate affairs Nirmala Sitharaman, while presenting the Union Budget FY24-25 in...

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Moneylife Digital Team 22 July 2024
The Economic Survey for FY23-24 tabled in Parliament by Union minister for finance and corporate affairs Nirmala Sitharaman, conservatively projects a real gross domestic product (GDP) growth of 6.5%–7% in FY24-25, with risks evenly balanced, cognisant of the fact that the market expectations...

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Moneylife Digital Team 22 July 2024
The services sector continues to be a significant contributor to India's growth, accounting for about 55% of the total size of the economy in FY23-24, according to the Economic Survey. The significant domestic demand, rapid urbanisation and expansion of e-commerce platforms generated heightened...

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Political competitivism ended up in the electoral promise of farm loan waiver, opening a Pandora's box. The can has many worms. Many sceptics question both the possibilities and extent of loan waivers for farmers. The first farm loan waiver of Rs10,000 crore in 1990 and the 2008 waiver of...

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Moneylife Digital Team 22 July 2024
Enhancing state capacity and capability is critical to ensure that the growth strategy for the Indian economy in a medium-term outlook achieves fruition. This was stated by Economic Survey FY23-24, tabled by Union minister for finance and corporate affairs, Nirmala Sitharaman, in Parliament on...

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In a few days, the finance minister will present the first budget of the third Modi government. Far from celebrating path-breaking reforms, this time, the optics are dire on many fronts. So much so that even its powerful social media cell, amplified by a million ‘influencers’ and AI-powered...

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Nowhere else in the world do budgets—both of the Union and states—attract as much attention as in India, although everyone agrees that the Budget is, at best, an estimate of earnings and expenses. Either of the two can tilt the scales of fortune for the states. Capital formation, investment...

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Charu Bahri ((IndiaSpend) 15 July 2024
Mount Abu, Rajasthan: The year 2022 saw the hottest March in India since observed record-keeping started in 1901, with temperatures exceeding the normal by 4-6°C in many parts.   In the plains of the north, the heatwave adversely affected human as well as plant life--in the latter instance,...

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Moneylife Digital Team 13 July 2024
The cumulative impact of macroeconomic shocks such as demonetisation, implementation of goods and service tax (GST) and COVID-19, over the past few years on the unincorporated sector enterprises (USE or informal sector enterprises) has been 4.3% of FY22-23 gross domestic product (GDP), says a...

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The Union Budget to be presented on 23rd July is perceived to have more salience than the last few that preceded it.    It is the first Budget in the third successive term of nearly the identical political formation, a phenomenon unseen in many decades.   Also, it would be the seventh...

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The government is building all-weather roads in villages in order to provide better connectivity to villagers.   Unfortunately, connectivity does not automatically lead to mobility.    Mobility means the ability to use existing infrastructure to go wherever one needs to go, at a time of...

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Connectivity is the buzzword today.   Every kind of connectivity is expanding – 5G phones, TV channels, highways, faster trains, more airports, satellite Wi-Fi (coming soon). Billions of rupees are being poured into connectivity.  No, I am not alleging that this is money being thrown away,...

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