The food delivery platform sector in India employed 1.37 million workers in the financial year 2023-24 (FY24) and is growing at a compound annual growth rate (CAGR) of 12.3 per cent, estimates a new report released by the Delhi-based think tank National Council of Applied Economic Research (NCAER).
Simplifying GST rates, removing exemptions, easing disputes, and speeding up refunds can boost investment in India and offer the best reply to Trump's tariffs, observes V S Krishnan, former member, Central Board of Indirect Taxes and Customs.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Road Transport and Highways Minister Nitin Gadkari on Tuesday favoured giving a majority 51 per cent stake to foreign partners in joint ventures for building tunnels and detailed project reports to improve work quality. Gadkari said providing a majority stake to a foreign partner in the joint venture is necessary to ensure that only serious and technically qualified players bid for tunnel projects.
Banking on the Budget's tax relief, the BJP seeks to energise Delhi's middle class; the AAP is doing its bit too. But will their outreach mobilise this politically crucial yet disengaged electorate?
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
'The Budget needs to focus more on social welfare schemes.'
A cultural preference for sons in India may be expressed as 'son preference' or 'daughter aversion', arising from patrilocality, patrilineality, the cost of dowry, and old-age support from sons.
The government on Friday appointed Suman K Bery as the vice chairman of Niti Aayog, following the sudden resignation of Rajiv Kumar.
The Reserve Bank's rate setting panel on Thursday met to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by Governor Shaktikanta Das.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
19 per cent of all travel in India (by bus, train or air) was pilgrimage or religious travel (possibly the single largest after business and family-related travel), discovers Ambi Parameswaran.
The tourism industry plays a vital role in the town, accounting for 70 per cent of its economy, according to experts.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
Three institutes entrusted with the task to estimate amount say data collection a hurd#8804 to submit report by December.
The study was ordered in March 2011 when the nation was debating on the amount of unaccounted income with figures projected by politicians and civil society in crores of rupees.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
Three entities entrusted with job submit reports on black money estimation.
The economc research council has projected Centre's fiscal deficit this financial year to be 5% of GDP.
The southwest monsoon in 2012 might have left Indian shores a couple of months back after having a rather uneven run during the four-month season, but its after-effect in pushing up prices of onion , edible oils , pulses , potatoes and banana is likely to be felt all year long.
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
International Monetary Fund (IMF) chief economist Gita Gopinath has made a strong case for regulating cryptocurrencies, saying it will always be a challenge to ban them as they operate from offshore exchanges. Gopinath also suggested a global policy and co-ordinated action for regulating cryptocurrencies. "I think cryptocurrencies are a particular challenge for emerging markets. "It seems to be more attractive to adopt cryptocurrencies and assets in emerging economies than in advanced economies," she said while addressing an event organised by the National Council of Applied Economic Research (NCAER) on Wednesday.
Other members of the committee are Indian Council for Research on International Economic Relations chairperson Isher Judge Ahluwalia, National Council of Applied Economic Research director general Suman K Bery and the secretaries of yje ministries of finance and petroleum.
Business confidence in India continued to improve and touched a two-year high in January, according to the latest National Council of Applied Economic Research (NCAER) - MasterCard Worldwide Index of Business Confidence.
Inflation raises prices for farm inputs as well as farm products, resulting in uncertain effects on the current net incomes of farmers, the National Council of Applied Economic Research (NCAER) said in its monthly report.
The growing economy has spun a wheel of fortune for Indians, with high income households outnumbering those in the low category for the first time at the end of 2009-10, according to estimates made by think-tank NCAER.
The government on Wednesday constituted the 13 Finance Commission, which would look into sharing of taxes between Union and the States, under the chairmanship of former finance secretary Vijay Kelkar.
NCAER says that in 2009-10, there should have been 3.8 million families with annual income of over Rs 10 lakh, a figure that is more than five times the 715,000 people who report income over Rs 8 lakh.
High inflation and slowing down of growth have been forecast by an economic think-tank foe scenario improves, the inflationary pressures are likely to ease in the longer-term, National Council of Applied Economic Research (NCAER) said in its macrotrack monthly report.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
Although the services sector is a huge success, the biggest challenge for the Indian government is to build public support for the sector.
Economic think-tank NCAER on Thursday revised downwards economic growth projection to 7.8 per cent from its earlier estimate of 9 per cent for the current fiscal and said global slowdown and rise in inflation will have an adverse impact on the growth of Indian economy.
Despite a stagnant global trend, India's share in global service exports is set to more than double from 2.7 to 6 per cent by 2012, an economic think-tank has said.
A nation-wide housing price index may be a reality soon. The National Housing Bank, in collaboration with the National Council of Applied Economic Research, is close to finalising the methodology to be adopted for the index, named NHB Residex.
With fears of delayed monsoon doing the rounds, an economic think tank on Tuesday said lower agricultural production is unlikely to affect the industrial growth this fiscal.\n\n
Economic think-tank National Council of Applied Economic Research expects India's Gross Domestic Product growth to decelerate to 8.3 per cent during current fiscal
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