-The Free Press Journal Today’s budget speech of the Finance Minister was more about Government’s intentions, intentions for a long term horizon like 25 years and little on this years’ specific plans. There is an oft-spoken phrase – where there is a will there's a way. If the policies of a Government is its Will then the Budget is meant to give the Way by providing the means with funds. Today’s budget...
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India’s economy and the challenge of informality -R Nagaraj and Radhicka Kapoor
-The Hindu Policy efforts to formalise the economy will have limited results as the bulk of informal units are petty producers Since 2016, the Government has made several efforts to formalise the economy. Currency demonetisation, introduction of the Goods and Services Tax (GST), digitalisation of financial transactions and enrolment of informal sector workers on numerous government Internet portals are all meant to encourage the formalisation of the economy. But why the impetus...
More »Meeting the IMF, RBI forecast of 9.5% GDP growth this year now a challenge, says Dr Rangarajan -E Kumar Sharma
-Financial Express Dr Rangarajan feels that perhaps we may end the year with GDP growth in the region of 7 or 8 per cent. The much awaited news on the second quarter Gross Domestic Product (GDP) numbers showing a growth of 8.4 percent as compared to 7.4 percent contraction in Q2 2020-21, has come as a dampner. Economists now see serious challenges in India being able to hit the full year GDP...
More »Bumpy road ahead -Renu Kohli
-The Telegraph Challenges to economic recovery in India and the world remain The International Monetary Fund revealed its outlook for the world economy last week. A year and a half after the pandemic, global recovery remained reassuringly strong: the world economy is expected to grow a tad slower (10 basis points) this year at 5.9 per cent and at an unchanged pace — 4.9 per cent — next year. But the exit...
More »IMF’s Issue of Fresh SDRs -Prabhat Patnaik
-Networkideas.org The International Monetary Fund has announced a fresh issue of $650 billion Special Drawing Rights in August which would be distributed among member countries in proportion to their IMF quotas. This amount is less than what had been demanded by many, which was a trillion dollars, but it does represent a small temporary comfort for the heavily indebted third world countries. Almost all of it will go into the pockets of...
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