While it is true that the growth rate of Indian economy has bottomed out at 5.7 per cent, going forward it is likely to improve now that the disruption caused by GST and demonetisation has already begun to disappear, much earlier than anticipated.
Once constituted, National Anti-profiteering Authority (NAA) will have to begin its work in earnest to check huge profiteering resorted to by several unscrupulous providers of goods and services under the GST regime.
Upgrade in sovereign ratings to Baa2 from Baa3 by Moody’s is a shot in the arm for the Narendra Modi government that has been at the receiving end of serious flak from several quarters for the recent economic slowdown. Given that the upgrade has come after nearly 14 years, it is a testimony to the confidence reposed by foreign and domestic investors community alike in the Indian economy.
THE OLD bogey of growth versus meeting fiscal deficit targets is back in the run up to the BJP’s last full budget. Balancing economic fundamentals and macro-economic parameters, including fiscal deficit, is a consistent and continuous exercise which requires fiscal prudence.
Narendra Modi government’s decision to advance the rolling out of relatively more environment friendly Euro VI compliant fuels by two years will make the national capital region a better place to live.
There’s lot of frenzied hype whipped up around the meeting between prime minister Narendra Modi and the US president Donald Trump in Manila in the Philippines on Monday. Foreign secretary Subramaniam Jayshankar and White House statements after the Modi-Trump meeting have taken the atmospherics to a new level.
India is in the midst of a huge technology revolution as digitisation takes root across the economic vector, turning the country into a global player given the explosive growth in smartphone shipments, huge upswing in high value data services and growing competition among equipment suppliers and services providers.
The fracas that played out in Supreme Court last week during the hearing of a case relating to the medical colleges’ scam underlines the urgency with which judicial reforms need to be pursued in a country that is embroiled in litigation of every variety.
The decision to reduce goods and services tax (GST) rates on 178 daily consumable items is a positive. The GST Council’s call to include just 50 products in the highest tax slab at 28 per cent is a step towards moving to the two-rate structure in the medium term. Already, over 86 per cent goods and services have been brought under the twin slabs of 12 and 18 per cent.
Gujarat, which goes to polls in a month from now, may serve as a virtual referendum on twin reform measures of Narendra Modi government, demonetising high value currency notes and the goods and services tax (GST). Modi’s home state will decisively indicate as to what’s in store for the ruling BJP at the Centre and Gujarat, where the party has been in power for over 22 years.