Economy

10th December – Agri reform : From production to profitability

The idea of doubling farmers’ incomes by 2022, when the country completes 75 years of its independence, was shared by Prime Minister Narendra Modi in February 2016. Despite zealous efforts made by government agencies toward fulfilment of this goal, the state of farmers and agriculture has shown little or no improvement. We must look for …

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9th December – Explained – International Financial Services Centres Authority Bill, 2019

The International Financial Services Centres Authority Bill, 2019 is likely to be taken up by Parliament soon. The Bill provides for the establishment of an Authority to develop and regulate the financial services market in the International Financial Services Centres in India. Ambit of the bill – The Bill will be applicable to all International …

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18th November – Crossed wires – On telecom industry crisis

Two leading and important players in the telecom industry — Bharti Airtel and Vodafone Idea — have reported historic losses in the second quarter of this fiscal. Vodafone Idea has declared a loss of ₹50,922 crore while Bharti Airtel has reported a loss of ₹22,830 crore. Details of the woes – The losses were due …

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6th November – Predatory Pricing

News reports that e-commerce majors such as Amazon and Flipkart have sold goods worth ₹19,000 crore in their festival discount sales seem to be causing some heart-burn in India’s traditional retail industry. The Confederation of All India Traders (CAIT), a trade body representing brick-and-mortar retailers, has been urging the Commerce and Finance Ministers to launch …

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31st October – PM’s Diwali Gift to the Economy

India is slipping pathetically from its high growth trajectory. Exports continue to decline. Major financial institutions and donors have downgraded the country’s growth prospects in the coming year. Good news – The recent World Bank’s Doing Business rankings provided the spark the economy badly needed. India made impressive improvements in the 2019 rankings of Ease …

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19th October – An inclusive strategy for India to revive its economic growth

From a peak of 8.1% in the fourth quarter of 2017-18, growth in gross domestic product (GDP) has now decelerated to a six-year low of 5% in the fiscal first quarter, with a slowdown visible across all sectors. We now require a macroeconomic strategy to revive aggregate demand in the short-run, while initiating structural reforms …

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15th October – A tax policy that could work

The Indian government should now be desperate to raise more tax revenues. It missed its tax targets massively in the last fiscal year, largely because of poor goods and services tax (GST) collections. Why? Government’s declared budgetary target for the current year requires tax receipts to increase by around 25%, when the first quarter increase …

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12th October – RCEP – Opportunity, fears in regional trade deals

Commerce Minister Piyush Goyal is in Bangkok for the eighth Regional Comprehensive Economic Partnership (RCEP) ministerial meeting. What is the RCEP? The Regional Comprehensive Economic Partnership (RCEP) is a trade deal that is currently under negotiation among 16 countries — the 10 member countries of the Association of Southeast Asian Nations (ASEAN), and the six …

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ending poverty

16th April – Necessary steps to ending poverty

It is by now close to 50 years since Indira Gandhi brought the idea of eradicating poverty into the electoral arena in India. ‘Garibi Hatao’ had been her slogan. The role that income generation actually played in lowering poverty in India may be gauged from the facts that economic growth had surged in the 1980s, …

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