Total expenditure in April-July was 33.8 per cent of the Budget estimate (BE) for the full year, according to data compiled by the Controller General of Accounts.
“GDP growth this year will be led by consumption growth (backed by falling inflation and monetary easing), investment growth revival will take place once capacity utilisation starts increasing,” said DK Pant, chief economist, India Ratings.
In August, the rupee has depreciated by about 3.3 per cent against the US dollar. Such volatility and decline in asset prices are stressful.
Initial indications reveal that growth remains on the same footing as the last quarter, if not lower.
The central bank managed to add $ 34 billion through inflows from foreign currency deposits and a concessional swap facility for banks.
The seven-figured citizens are seeking more than what Indian cities have to offer
The rupee’s relative strength vis-à-vis the dollar has eroded India’s price competitiveness, reflected in farm exports registering a 24 per cent drop during April-June over the same quarter of last year.
An Organiser article slams non-NDA parties for the Parliament logjam, saying that their actions and decisions on national issues, too, are vote-bank-centric, which may even harm the country’s interests.
We need to look beyond monetary easing. The old export-led growth model is seriously fractured.
For 2015-16, the Centre has a more relaxed fiscal deficit target of Rs 5,55,649 crore or 3.9 per cent of the GDP.
People in developing and emerging, including India, are more likely to believe that economic conditions will improve over next one year.
India needs to rework balance between worker protection, investor confidence.
Inflows to continue as economy is recovering and capital investments are picking up, say experts.
A painful monetary course correction can lead to sustained long-term growth.
Vested interests have scuttled earlier attempts at cutting back the cash economy. To succeed, the Finance Ministry’s latest bid must focus on making the cost of cash transactions unaffordable.