The RBI stated that the “inflation outlook is clouded by several uncertainties on the upside” and “fiscal slippage as indicated in the Budget could impinge on the inflation outlook”.
Even as schemes have received minimal allocations, this budget signals an important shift in the political narrative. Gone is the focus on jobs, skills, aspirations and empowerment.
The government’s announcement of the National Health Protection Scheme for 10 crore families is, in fact, a massive insurance scheme for 50 crore of India’s poorest.
Vinod Dua breaks down the Union Budget 2018.
According to the opposition, the budget is mere ‘lip-service paid in the name of the farmers and the poor’ and will not have any real impact.
The panel had suggested a fiscal deviation band of 0.5% to deal with unforeseen events and enacting a new Debt and Fiscal Responsibility Act.
Prime Minister Narendra Modi recently asserted that a person earning Rs 200 a day by selling pakodas is also employed.
It should not be a source of pride that millions are managing to eke out a meagre income. Instead it should be seen for what it is – a sign of under-employment.
The transaction will help the government cross its annual disinvestment target for the first time ever.
The latest GDP figures prove that the economy has taken a battering because of the hasty implementation of GST.
The Central government is reportedly planning to borrow an additional amount from the markets, over and above the budget estimate of Rs 5.80 lakh crore for fiscal year 2017-18.
The model of development that was presented as a success story relies on patronising and providing incentives to large businesses while simultaneously suppressing wage incomes.
In an interview with Karan Thapar for The Wire, Sitaram Yechury, general secretary of the Communist Party of India (Marxist), criticises demonetisation and argues that it failed to achieve all the objectives that were promised by the government.
Government’s claim that a reduction of currency in circulation is proof of greater transparency is based on the flawed belief that a lower cash to GDP ratio indicates less corruption.
Small and medium sized businesses across the country report tumbling sales, undermining job creation and damaging sentiment in industries crucial to Modi’s political powerbase.
The Life of Labour: 65% of Indian IT workers ‘Not Trainable’, Sustained Unemployment Threatens Economy
Latest news updates from the world of work.
Fiscal policy is a potent instrument that must be used to alleviate the unemployment crisis, but first, supply-side constraints need to be systematically united.
Opposition parties and leaders may or may not be able to cobble together a coherent counter-narrative, but citizens are beginning to take note of the abuse of public confidence and poll promises.
Latest news updates from the world of work.
Analysts point out that slowdown from last quarter has intensified due to the combination of long-term slowdown and temporary shock factors like demonetisation and GST.
The 2017 Global Innovation Index shows that most countries in Latin America could do much more to become a great source of global intellectual production .
The combination of declining birth rates, increased longevity and growing proportions of the elderly is raising serious economic questions around the world.
China’s development model appears to be more egalitarian than that of the US, but less so than those in European countries.
India needs to improve connectivity infrastructure and industrial laws to raise its ranking in world trade.
The confused narrative surrounding post-demonetisation growth consequences shows that we simply don’t have enough hard data on the non-agriculture, unorganised portion of India’s economy.
Unemployment has risen and the corporate sector has taken a hit, but the Modi government is relying on statistics to create an illusion of economic growth.
In the absence of working and effective infrastructure, cash transfers cannot ensure that the poor and those most at risk will get the quality of life they deserve.
The single-minded focus on GDP growth ignores the low income and, consequently, poor demand potential of the bulk of India’s population, downplaying the ill effects of poor policymaking.
Only 16.5% of workers in India earn a regular wage.
The re-monetisation exercise should be completed in two to three months, RBI deputy governor Viral V. Acharya said on Monday.
While an important measurement, GDP is far from adequate to judge a country’s economy and socio-economic conditions.
Has the government simply kicked the can down the road?
Conversations about artificial intelligence must focus on jobs as well as questioning its purpose, values, accountability and governance.
The world needs an alternative system, measuring economic value in face of the dissatisfaction that brought Donald Trump to the White House.
Scientists think there is a mismatch between the government’s rhetoric on bettering India’s research output and how much it is willing to spend for the cause.
No matter what steps the government takes, the Indian economy will not revive till real interest rates are lowered.
On the sidelines of the Raisina Dialogue in Delhi, the Maldives cabinet minister and foreign secretary speak to The Wire about the country’s relations with India, its major infrastructure projects and whether the South Asian nation could be piling up excessive debt.
The Shekatkar committee report represents a starting point and makes a valuable suggestion – non-combat organisations must be reviewed and restructured.
RBI kept the short-term lending rate unchanged, saying it is adopting a ‘wait and watch’ policy to see the effect of demonetisation.
An equity firm has estimated that GDP growth will crash to 0.5% in the second half of the current financial year.