India;s Economic Development and Policies
There is a pressure in India from some intellectual circles to change the approach towards development planning and become more pro market, pro private sector, private property and reduce excessive thrust on redistribution and “statist” intervention through subsidies and welfare programmes, because such elements in planning have been often populist, irrational, inefficient and unsustainable. This […]
The following are the highlights of the second bi-monthly monetary policy for 2017-18 as announced by the RBI: * Repo rate unchanged at 6.25%, * Reverse repo unchanged at 6% * Statutory Liquidity Ratio cut by 0.5% to 20% * Growth forecast for 2017—18 lowered to 7.3% from 7.4% * Inflation projected at 2—3.5% for […]
GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which […]
The GDP growth estimate of 7.1 per cent for 2016-17 put out by the Central Statistics Office (CSO), barely changing from the earlier estimate (first advance estimate), has again flummoxed economists. If the latest growth numbers are indeed credible, then the cash crunch after demonetisation has had no impact on economic growth. But, aside from […]
Official data released on (February 28, 2017) showed that demonetisation hasn’t pushed the economy into a retreat as most feared, with its short-term adverse impact to a large extent restricted to construction and financial services. Real GDP growth in the December quarter, in the midst of which the note ban came into effect, came in […]
According to a new report from the OECD, the Indian economy is expanding at a fast pace, boosting living standards and reducing poverty nationwide. Further reforms are now necessary to maintain strong growth and ensure that all Indians benefit from it. The Survey, launched (March 1, 2017) in New Delhi by OECD Secretary-General Mr. Angel Gurria and […]
India is struggling with its expenditure management since the Economic crisis of 1991. The fiscal deficit of India had touched unmanageable level at 8.4 per cent of GDP in 1991 and it was panned to bring it down to 4.5 per cent by 1996. Indian government was able to contain the fiscal deficit to the […]
Positive Developments in the Indian Economy Consumer Price Index The all India general CPI (Combined) for January 2017 stands at 3.2% as compared to 3.4 % in December 2016. The inflation rates for rural and urban areas for January 2017 are 3.36% and 2.9% respectively as compared to 3.83% and 2.9% respectively, for December 2016. Rate of […]
The Economic Survey 2016-17 was tabled in Parliament on January 31. It was prepared by the finance ministry’s chief economic adviser Arvind Subramanian. The economic survey has presented a picture marked by both hope and despair. It has expressed some major concerns and suggested ways to overcome them. Among the measure concerns noted is slowdown […]
Courtesy: Indiabudget.nic Key Features of Budget 2017-2018-Union Budget & Economic Survey (Read An Analysis of Economic Survey here) INTRODUCTION • In the last two and half years administration has moved from discretionary, favouritism based to system and transparency based • Inflation brought under control. CPI-based inflation declined from 6% in July 2016 to 3.4% in […]