NEW DELHI: Last month Parliament finally passed—after failing several times since 1996—to pass a law mandating that a third of elected representatives will be women. This will apply to Parliament as well as state legislatures and will go into effect in 2029. Significantly, the law was passed with near consensus. The usual suspects, who had […]Read More
A few weeks ago, the Nifty-50 scaled the peak of 20,000 for the first time ever. To be sure since then the index has dropped back below this level. While the record peak was impressive, more significant was the underlying message of the index which has evolved as the bellwether of the Indian economy. Not […]Read More
NEW DELHI: A few weeks ago, the JP Morgan Bond Index included India—the last big emerging market to be included. This proposal in the works for nearly a decade is seen as a vote of confidence in India. It is akin to a stock being included in the Sensex or Nifty-50—making it an automatic favourite […]Read More
NEW DELHI: A few weeks ago the Harvard Business Review published a paper which argued that India could well be the world’s next big economic power. Co-authored by Bhaskar Chakravorti and Gaurav Dalmia, the paper coined an interesting moniker: India Inevitable. According to the authors a happy convergence of circumstances and trends have created a […]Read More
NEW DELHI: Little under a fortnight ago, India, Saudi Arabia, United Arab Emirates, Jordan, Israel and the European Union inked an agreement for an economic corridor connecting India with Europe through the Middle East. This deal co-authored by the United States and India was clinched on the sidelines of the G20 summit meeting in New […]Read More
NEW DELHI: Last weekend, India hosted the summit meeting of the G20 countries. As the host country, India can take comfort from the consensus outcome. It should feel particularly chuffed with respect to the endorsement it got from the global high table for the India way of empowerment through digital technology. As a result, India’s […]Read More
The worst kept secret in India is the immense potential of the Medium and Small Scale Enterprise (MSME) as a force multiplier in the Indian economy. Not without reason. This sector accounts for a fifth of the employment in India and a third of the country’s gross domestic product. And, yet it is nowhere close […]Read More
NEW DELHI: Little over a fortnight ago, the Indian income tax authorities released data on Income Tax Returns (ITRs) filed by salaried taxpayers and other non-tax audit cases for 2022-23. It showed that ITRs had grown to a record high of 7.4 crore. As a result, the tax base – reflecting the surge in the […]Read More
NEW DELHI: Last month retail inflation surged to a 10-month high of 7.4 percent in July. This spurt was led by rising prices of vegetables—tomato prices was the outlier, growing by 201 percent, compared to a decline of 34 percent in the same month last year. At the same time, core inflation slowed to 4.9 […]Read More
India’s imports of cheaper crude oil from Russia now account for 40% of its total oil imports. In fact, Russia has replaced Saudi Arabia and Iraq as the primary source of crude oil imports. All of this while Russia continues to face sanctions imposed by block of Western nations. Even better, India is importing crude […]Read More
NEW DELHI: Last week the government disclosed that the number of people filing income tax returns (ITRs) was poised to touch a new high. According to Finance Minister Nirmala Sitharaman the number of ITRs filed till 31 July was 7.4 crore. Given that returns can be filed till 31 December, this number would only grow. […]Read More
A recent paper published in the Harvard Business Review, flags India’s growing importance as a consumer economy. In this backdrop, the paper co-authored by three professors asks a very blunt question: Do MNCs have an India strategy? This is a very interesting pivot. From merely waxing eloquent about the India opportunity, these professors are goading […]Read More
NEW DELHI: Last week Niti Aayog released the latest edition of its Multidimensional Poverty Index (MPI). It showed that 13.5 crore Indians had escaped poverty in the last five years. The United Nations Development Programme (UNDP), using the same methodology as the MPI had revealed that India had lifted a staggering 415 million out of […]Read More
Little under a fortnight ago, the Goods and Services Tax (GST) Council, the apex body guiding India’s marquee tax reform, held its 50th meeting. It took place just after the country celebrated the sixth anniversary of the rollout of the GST, which for the first time economically unified the country. However, some of the decisions […]Read More
Little over a fortnight ago, PRICE or the People’s Research on the Indian Economy, released its latest report titled ‘India’s Middle Class’. The report argues that the growth of India’s middle class has crossed a tipping point. It is estimated at 432 million at present and is projected to grow to a staggering 1 billion […]Read More
NEW DELHI: Last Saturday (1 July) India celebrated the sixth anniversary of the Goods and Services Tax (GST). By any count it is the most marquee tax reform carried out by India and has incredibly managed to economically unify the country—previously goods had to move through 36 tax jurisdictions. And, since there was no tax […]Read More
NEW DELHI: A fortnight ago, Henley & Partners released its ‘Private Wealth Migration Report 2023’. It revealed that 6,500 High-Net-Worth-Individuals or HNIs will be moving out of India—making it the second biggest HNI loser globally. Data compiled by New World Wealth, the data intelligence partners of Henley & Partners, reveals that between 2013 and the […]Read More
India’s tryst with drinking water is one that is a legacy of neglect. And a fatal one at that. Last week the World Health Organisation (WHO) released a review of India’s ongoing water mission: Har Ghar Jal. The findings were revealing. It listed the following benefits that will accrue to India if it did indeed […]Read More
NEW DELHI: In the last few weeks prices of gold have inched closer to the peak of 2067.15 dollars per troy ounce recorded last August. The logic is easy to understand: The supply of yellow metal is limited, while you have lots of takers, including central banks. Last year central banks together purchased over 1,000 […]Read More
Last week India released its official growth numbers for the fourth quarter of 2022-23. It was a surprise on the upside. As a result, growth in the last fiscal year was 7.2%, compared to 7% estimated earlier. Coincidentally, in the same week, two global investment banks, Morgan Stanley and Amundi, published independent reports saying that […]Read More
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