-Frontline.in The Modi government has apparently realised that the private sector is not up to the task of driving growth. It hopes to fund its neoliberal dream of India becoming the fastest-growing emerging market through a combination of off-Budget borrowing and drastic expenditure reduction in key social sectors. IT will soon be a year since the National Democratic Alliance (NDA) government under Prime Minister Narendra Modi took office at the Centre....
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Lead from the Centre -Ashok Gulati
-The Indian Express Indian farmers are under stress this year. Earlier, many of them lost their crops in the kharif season, which was almost a drought with monsoon rains falling 12 per cent below their long-period average. Now unseasonal rains have impacted them adversely in the rabi season. Agri-GDP growth this year, expected to be a meagre 1.1 per cent before the unseasonal rains, may fall flat to just zero, if...
More »India among 5 nations accounting for half of world’s hungry -Tomojit Basu
-The Hindu Business Line India measures poorest in terms of stunted children at 47.9% NEW DELHI: Five middle-income countries (MICs) which displayed strong economic growth in 2014 - India, Brazil, China, Mexico and Indonesia - account for 363 million, or a half, of the world's hungry, according to a report released on Wednesday by the International Food Policy Research Institute (IFPRI). The 2014-2015 Global Food Policy Report (GFPR) called on Governments of these...
More »No clean slate -Arvind Virmani
-The Indian Express The forthcoming budget is expected by some to be make-or-break or path-breaking, by others, to provide a legislative or economic roadmap for the rest of this government's term. Most likely, it will focus on issues within the purview of the finance ministry, namely, macro management, taxation, expenditure, the financial sector and balance of payments. The abolition of the Planning Commission and the 14th Finance Commission recommendations on tax devolution...
More »Highlights of Economic Survey 2014-15
-Press Information Bureau/ Ministry of Finance Economic Outlook, Prospects and Policy Challenges Macroeconomic fundamentals in 2014-15 have dramatically improved. Highlights are: * Inflation has declined by over 6 percentage points since late 2013. * The current account deficit has declined from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. * Foreign portfolio flows have stabilized the rupee, exerting downward pressure on long-term interest...
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