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To achieve $5 trillion target, tax system, laws, attitude to private sector need overhaul.
Sluggish growth 'warrants greater cooperation' between fiscal and monetary policies: RBI Guv
In the Financial Stability Report, RBI Governor Shaktikanta Das asked the state-run banks to focus on governance reforms, attract private capital and do away with being "overly dependent" on government funds.
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On rate cut hopes & falling oil prices, bond yields fall to lowest level in eighteen months
The benchmark sovereign bond — 7.26 per cent yielding paper maturing in 2029 — fell by 10 bps to close at 7.03 per cent. Bond yields have fallen over 35 basis points (bps) since May 1 due to a combination of global and domestic factors.
Unemployment rate at 6.1% in 2017-18, says labour force survey which was withheld earlier
The PLFS, however, said “compared to the quinquennial rounds, in 2017-18 the unemployment rates in both usual status (ps+ss) and CWS were higher for both males and females”, but added that the figures have to be read with explanatory note for comparability.
India's GDP falls to five-year low at 5.8% in Jan-Mar; unemployment rate rises to 45-year high
The Central Statistics Office (CSO) also revealed that GDP growth during 2018-19 fiscal stood at 6.8 per cent, lower than 7.2 per cent in the previous financial year.
China back as world's fastest growing economy as India's GDP growth falters
According to the 2017 World Bank data, China's economy has ballooned to 12.24 trillion US dollar and is nearly five times bigger than India's 2.6 trillion US dollar economy.
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Explained: What is the fallout of a reduced GDP growth rate
Faltering growth puts pressure on the government and the Reserve Bank of India to take measures to boost growth. It will be difficult for the Centre to announce any fiscal stimulus or increase its spending as it is already facing a tight fiscal situation.
Square pegs, round holes
Possibly the most problematic aspect of evaluating the budget is the opaqueness of the underlying data.
Ahead of Budget announcement, govt revises GDP growth from 6.7 to 7.2 per cent
"Real GDP or GDP at constant (2011-12) prices for 2017-18 and 2016-17 stand at Rs 131.80 lakh crore and Rs 122.98 lakh crore, respectively, showing growth of 7.2 per cent during 2017-18 and 8.2 per cent during 2016-17," the Central Statistics Office (CSO) informed.
Indian economy poised to pick up in 2019, says IMF
"India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease," the IMF said.
GDP growth Videos
‘Think of it the other way, not about govt raiding RBI, but how RBI could have behaved differently’
In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.
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