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Latest Articles in indian economy

Moody's Cuts India Growth Forecast For 2021 To 9.6%

With states now easing restrictions, economic activity in May is likely to signify the trough.

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Gold Futures Gain On Spot Demand

Gold contracts for the August delivery traded higher by Rs 272, or 0.58 per cent, at Rs 47,000 per 10 gram in a business turnover of 11,024 lots.

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Decision Over Flex-Fuel Engines In 8-10 Days, Says Gadkari

Prime Minister Narendra Modi said the target date for achieving 20 per cent ethanol-blending with petrol has been advanced by five years to 2025 to cut pollution and reduce import dependence.

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CII Pitches For Rs 3 Lakh Cr Fiscal Stimulus To Push Economic Growth

The new president said suitable fiscal measures to alleviate the stress of people impacted by the second wave of COVID-19 are the need of the hour.

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Modi Calls For 'Repair And Prepare' As India Emerges From Pandemic

Indian economy suffered its worst contraction in decades in the fiscal year ended March 31, 2021, as the pandemic-induced lockdown impaired economic activity.

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We Committed To Agriculture Reform As MSP Monies Are Paid Directly To The Farmers: Sanjeev Sanyal, Principal Economic Adviser

Principal Economic Adviser in the finance ministry Sanjeev Sanyal’s work in chaos theory and his belief that economic growth demands perpetual imbalance may be the right recipe for the Indian economy given its complexity. The government though is very conservative on fiscal balance. He talks to BW Businessworld’s Manish Kumar Jha about fiscal support and its multiplier effect, the bold steps and disruptions in opening the economy further, pushing pending reforms, gyrating out of pandemic-led economic disruptions, and more.

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We Always Worry About How Rating Agencies Will React To A Large Stimulus--Omkar Goswami, Chairman, CERG Advisory

Omkar Goswami, noted economist & Chairman, CERG Advisory tells BW Businessworld’s Manish Kumar Jha that Indian economy must find its way into global trade. He says that while South-East Asian and East Asian countries were creating world-class exporting capacities and related infrastructure, we focused on import substitution. As we still do, for what else is ‘Atmanirbhar Bharat’, he asks. Excerpts of the interaction

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This Is Not The Time To Hold On To Fiscal Framework: Rajiv Kumar, Vice Chairman, Niti Aayog

“So a consumption-led fiscal stimulus will not result in a virtuous economic cycle unless its magnitude is huge as has been the case in the US or other advanced economies”

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That Illusive Double Digit Growth-What Will Drive The Indian Economy

As India fends for resources to fight a virus and keep the economy on an even keel, it also looks beyond the pandemic and the targeted $5 trillion GDP. Are the country’s strategies and policy framework on track? BW Businessworld’s Manish Kumar Jha speaks to economists across the political divide for a realistic assessment of the state of the economy

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The Union Government Is Quite Clear about Its Decision To Privatise Several PSEs: Bibek Debroy, Chairman, Economic Advisory Council To the PM

The scale and spread of Covid 2.0 has once again subdued demand, especially in rural India. The economy will obviously need both fiscal and monetary support in greater measures at least to ensure recovery does not falter. To be able to entice more investment into the economy, some extraordinary policy measures will become necessary like reforms in the financial sector, the Railways and defence production, along with a more transparent fiscal deficit target. In a candid chat with BW Businessworld’s Manish Kumar Jha, Chairman of the Economic Advisory Council to the Prime Minister and leading economist, Bibek Debroy, talks of policies that will decide the future course of the Indian economy and that “illusive inclusive growth”.

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This Govt. Is Clueless, My Advice Is Borrow And Spend-- P. Chidambaram

The economic growth statistics of the last financial year underplay some economic indicators like FDI and GST collection. The GDP numbers released by the National Statistical Office (NSO) show a 7.3 per cent contraction of the Indian economy over FY2020-21 ‒ the worst in over 40 years. Along, we must subject FDI to a closer analysis. Where are we headed in terms of economic planning and how do we reorient our growth story? And, crucially, what about India's youth dividend turning in bubble? Former Union Finance Minister and Congress member of Parliament, P. Chidambaram discusses these and other lacunae in planning with BW Businessworld’s Manish Kumar Jha.

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We Are In Phase Of Creeping Protectionism And MGNREGA Is Still The Best Bet In Rural Areas: Nobel Laureate Abhijit Banerjee

Abhijit V. Banerjee, Professor of Economics at Massachusetts Institute of Technology, received the 2019 Nobel Prize for Economic Sciences. How well his ideas fit into India’s economic growth amid the volcanic challenges are debated in his book--Good Economics for Hard Times-- which he co-authored with Esther Duflo. He touches upon more politically contentious issues like trade, inequality and the universal basic income for those who are left out of the economic growth story. In a free-wheeling conversation with Manish Kumar Jha of BW Businessworld, Prof. Banerjee comments on India’s healthcare, the privatization, fiscal support, and the complex matrix of Direct Benefit Transfer Scheme. He asserts that the Indian economy could be competitive should “we open ourselves to trade”. Excerpts:

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Rupee Rises 12 Paise Against US Dollar In Early Trade

The rupee opened strong at 72.85 against the dollar and lost some ground to touch 72.87 in early deals, a rise of 12 paise over its previous close.

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Virus Disaster Leaves Deep Scars On Economy

Some observers also fear the psychological blow from the virus disaster that ripped through India this year killing tens of thousands of people will leave consumer reluctant to spend.

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Rupee Rises 8 Paise To 72.54 Against US Dollar In Early Trade

The domestic unit opened at 72.57 against the dollar, then inched higher to 72.54, registering a gain of 8 paise over its previous close.

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