The Reserve Bank of India is facing a fork in the road for the first time since Governor Raghuram Rajan took office amid much fanfare and started targeting inflation as the central bank's primary mandate.
Prime Minister Narendra Modi’s plan to build 100 “smart cities” by 2022 to decongest existing urban centres probably will take longer to achieve. Reuters visited the foundations of one of these cities in Gujarat, a finance centre called Gujarat International Finance Tec-City (GIFT).
India’s BSE Sensex has gained nearly 4 percent so far in 2015 after the benchmark surged to record highs following the electoral triumph of Prime Minister Narendra Modi last summer. Vinod Nair, head of research at Geojit BNP Paribas, says markets are now consolidating and likely to take cues from corporate earnings and global factors such as a rate hike by the U.S. Federal Reserve.
Finance Minister Arun Jaitley has the tough task of balancing the need to boost spending and maintaining fiscal discipline when he presents the annual budget on Feb. 28. Former Infosys CFO V. Balakrishnan says the government’s main priority should be to revive the economy by loosening up its purse strings and the country could live with a “slightly higher fiscal deficit.”
The countdown has begun for the biggest business and economic event of the year – the release of India’s annual budget on February 28. Finance Minister Arun Jaitley is under pressure to unveil reforms that will put the country’s economy on a path of 7-8 percent growth over the next two years.
India will struggle to become a global superpower without an efficient healthcare system, and would need 10 to 15 years to cover everyone under its ambitious universal health coverage programme, KPMG’s global health chief said.
In the history of India’s economic reforms, rhetoric has often proved to be a stronger force than substance. Scrutinizing The Indian Growth Story, a facile phrase casually tossed about by newsmakers and newswriters, reveals that. Historians, however, have documented the liberalization of the economy in 1991 — the pole around which the Story spins — furtively. A good chunk of Mihir S Sharma’s gripping first book, Restart, delves into the events of that hot summer of 1991: the colicking infancy of a reformist India and how a missed opportunity and internalised mistakes have plagued the economic agenda ever since.
The best journalists get front-row seats to the most tumultuous years of a nation. Rajdeep Sardesai, one of India’s best-known journalists, was in such a position for this year’s general election in India, in which 815 million people voted. Their decisions brought the Bharatiya Janata Party and its leader Narendra Modi into power, ending 67 years of near-uninterrupted control of Indian politics by the Congress Party and the Nehru-Gandhi clan.
Love him or hate him, you cannot ignore him. If you’re in India, the chances are that there’s at least one of his novels on your bookshelf or one of his columns in the newspaper in front of you on the table. If you still haven’t escaped from him, there are tons of interviews lately like this one showing up in front of you.