While IT majors Infosys and TCS turned in fairly good numbers, some of the smaller players didn’t do as well. Hindustan Unilever reported a middling quarter.
Move to impose barriers on imports to manage the current account deficit is a throwback to the licence raj. We need to focus on the systemic issues pulling down productivity in export sectors.
How top-down decision-making, delusions of grandeur led a strong government to poor decisions
Jaitley said several entities including LIC have invested heavily in IL&FS over the years. “Do I start calling all these investments today a scam as per the perverted Rahul Gandhi school of thinking?” the finance minister asked.
Non-food credit growth has been increasing gradually in recent fortnights even as the base effect of demonetisation has worn off. Since January 2018, fortnightly non-food credit growth has moved between the 10-13.6 per cent range.
As a comparison, the report mentions that 67 per cent of the households in India earn less than Rs 10,000 every month, which is much lower than the minimum pay recommended by the Seventh Central Pay Commission of Rs 18,000 per month.
Government must intervene to control the slide of the rupee, stem its inflationary consequences.
The RBI in its annual report earlier had highlighted that the CAD was expected to be largely financed by FDI flows.
Rathin Roy says the increase in the CAD is partly a result of the goods and services like four-wheelers, higher education, civil aviation, and recreation travel consumed by a small percentage of the population, say 100 million.
India’s economy suffers from systemic failures. The major responsibility lies with a decade of high interest rates set by RBI.
It is not just rising prices and imports of crude that have put pressure on the rupee. From coal & coke to electronics and minerals, a look at how Indian imports have risen sharply from one fiscal to the next.
Rupee has hit a low again but economy is not on a slippery slope now. Government should carry on being sensible, patient.
The increase in coal shipments comes alongside a 44 per cent jump in the value of precious and semi-precious stones imports, and a 47 per cent jump in imports of metal and mineral ores.
A recovery seems underway. But private investment is yet to pick up, and all engines of growth are still to fire
The report presented a back series for GDP data that has been due since January 2015 when the government moved to a new base year of 2011-12.