‘Inflation, geopolitics key global economic hurdles’: Nirmala Sitharaman
1 week, 5 days ago

‘Inflation, geopolitics key global economic hurdles’: Nirmala Sitharaman

Hindustan Times  

NEW DELHI: The world’s immediate priority for this decade should be the restoration of normalcy to stem rising inflation, Union finance minister Nirmala Sitharaman said on Wednesday, listing equitable solutions for climate change, prudent debt management, industry-led skilling of youth, and coexistence of big and small firms as other decadal challenges for the global community. Detailing her priorities for a healthy global economy, Sitharaman urged governments, policymakers, strategic leaders, citizen forums and the industry to act together in bringing normalcy globally, otherwise the decade would be “frittered away”. Addressing the opening plenary of the Global Economic Policy Forum, the minister said wars are causing supply chain disruptions and stoking inflation globally, which is a “big challenge” for all countries as the problem “doesn’t respect borders” and no nation is “safer” from its contagion. “Industry should work together with small and medium units to see how they can be supportive of each other.” Speaking about debt and financial security as the final priority for the decade, the finance minister said: “Intergenerational debt is mounting on countries.

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History of this topic

Former RBI Chief Raghuram Rajan urges action on growing US public debt, warns world ‘more prone to pandemics’
1 month ago

Former RBI Chief Raghuram Rajan urges action on growing US public debt, warns world ‘more prone to pandemics’

Live Mint  

High public debt can’t be left to fester in the US and its peers in a world that is prone to more pandemics than before, former Reserve Bank of India governor Raghuram Rajan said. “People say pandemics are going to be more regular over the next century, so we can’t be satisfied with building up debt.” ‘Warning Apt for the …

India aims to expand scope of ESG debt after surpassing 2021 issuance record
4 months ago

India aims to expand scope of ESG debt after surpassing 2021 issuance record

Hindustan Times  

India’s market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. {{^usCountry}} {{/usCountry}} …

Explained: Why Economic Survey 2024 has taken a cautious stance
5 months ago

Explained: Why Economic Survey 2024 has taken a cautious stance

India Today  

The Economic Survey 2023-24 has adopted a more cautious stance on India’s growth prospects, projecting an expansion of 6.5% to 7% for the fiscal year. Chief Economic Adviser V. Anantha Nageswaran highlighted that while the Indian economy remains resilient, it faces potential challenges from geopolitical uncertainties and the risk of cheaper imports that could impact private capital formation. "The Indian …

India should bring back fiscal positions to pre-pandemic levels: IMF
6 months, 2 weeks ago

India should bring back fiscal positions to pre-pandemic levels: IMF

Deccan Chronicle  

Chennai: The International Monetary Fund has advised countries, including India, which have elections this year, to begin fiscal consolidation in order to bring fiscal positions back to pre-pandemic levels. When asked about the concern IMF expressed about the governments being tempted to increase public spending during election years in countries, including Mexico and India, Julie Kozack, Director of the Communications …

India is the bright spot in sluggish economy
8 months ago

India is the bright spot in sluggish economy

Hindustan Times  

The April edition of IMF’s World Economic Outlook shows that the global economy has done better in the year than how the Fund expected it to do. Policymakers will have to be cautious in dialling back on monetary tightening, and be mindful of the growing national debt burden, especially in advanced countries. All this will have to be done while …

Budget 2024: Average real income 50 per cent higher, inflation moderated, says Nirmala Sitharaman
10 months, 3 weeks ago

Budget 2024: Average real income 50 per cent higher, inflation moderated, says Nirmala Sitharaman

India TV News  

Union Finance Minister Nirmala Sitharaman said that the average real income of Indians has increased by 50 per cent and people's earnings have improved, leading to a better quality of life and increased aspirations for the future. Sitharaman attributed moderated inflation levels to good macroeconomic stability and robust investments. "There is macroeconomic stability, investments are robust, the economy is doing …

India’s Markets Are Turning Into an Inexorable Force
11 months, 1 week ago

India’s Markets Are Turning Into an Inexorable Force

Bloomberg  

Anyone wondering whether the India juggernaut is sustainable will find the answer in bonds, which have a penchant for discerning the way of the world and telling every other market what to do. At least $1 trillion of government securities traded multiple times annually in the most populous nation and biggest democracy are poised to become the darling of international …

ECONOMIC PERSPECTIVES | Why India is unable to curb inflation
1 year, 3 months ago

ECONOMIC PERSPECTIVES | Why India is unable to curb inflation

The Hindu  

Published : Sep 07, 2023 11:00 IST - 6 MINS READ Even as the Indian government celebrates the high growth rates that the increases in official GDP figures signal, it is haunted by the spectre of inflation. Wheat prices at the consumer level, which were falling relative to the previous year in the months preceding October 2021, started to rise …

G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman
1 year, 3 months ago

G20 Summit: ‘We should address the question of debt distress,’ says Sitharaman

Live Mint  

As India is holding its presidency for the G20 Summit, Union Finance Minister Nirmala Sitharaman said that India given the consideration of things and developments across the world, addressing the question of debt distress is a must. Sitharaman said, “Given the consideration of things and the developments across the world, we thought we should address this question of debt distress. …

Finance minister calls for concerted global efforts to restructure debt for poor countries
1 year, 4 months ago

Finance minister calls for concerted global efforts to restructure debt for poor countries

India TV News  

Finance Minister Nirmala Sitharaman on Friday called for concerted global efforts led by rich nations to help indebted countries deleverage at a time when multilaterism is the most potent challenge. Addressing online a G20 session, organised by the finance ministry and the Reserve Bank here, ahead of the grouping's summit next month in New Delhi, she said multilaterism faces the …

Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman
1 year, 4 months ago

Along with Japan and India, China can join debt relief effort for Sri Lanka: Nirmala Sitharaman

The Hindu  

As a large creditor to Sri Lanka, China is welcome to join the effort steered by Japan, India and France to help the island nation cope with its debt distress, Finance Minister Nirmala Sitharaman said on Saturday. Terming multilateral development banks’ reforms and debt-relief measures for many stressed economies as the top two finance track priorities for India during its …

Shedding more light on the debt dilemma
1 year, 4 months ago

Shedding more light on the debt dilemma

The Hindu  

The elevated levels of India’s fiscal deficit and public debt have been a matter of concern for a long time in India. Financial repression The debt-dynamics equation states that when there is no primary deficit, if the growth rate of GDP exceeds the effective interest rate paid on government bonds, the overall debt will decline. When the interest rate on …

Debt crisis key priority of India’s G20 presidency, says FM in US
1 year, 8 months ago

Debt crisis key priority of India’s G20 presidency, says FM in US

Hindustan Times  

Washington: Reiterating that addressing the growing debt distress was a priority for India’s G20 presidency, Union finance minister Nirmala Sitharaman has emphasised debt transparency, information-sharing, clarity on the comparability of treatment, predictability and timeliness of restructuring process as key principles that should govern the process. Sitharaman made the remarks while co-chairing a meeting of the global sovereign debt roundtable along …

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman
1 year, 8 months ago

India G20 presidency aims to develop common framework to deal with crypto risks: FM Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman has said India’s G20 presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. She also said G20 is trying to bring together all countries to address debt distress in middle-income and low-income nations like Sri Lanka …

Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries
1 year, 8 months ago

Nirmala Sitharaman urges G20 to come together on debt distress of middle-income countries

The Hindu  

Ahead of the G20 Finance Ministers and Central Bank Governors meeting on April 12 and 13, Finance Minister Nirmala Sitharaman expressed hope that the group could come together to address the debt distress of middle-income countries. While there could be “one or two” issues on which consensus is not possible, the Finance Minister said India’s presidency “is a great opportunity …

There is a rule of law in India, business heads don’t disappear overnight: Finance Minister Nirmala Sitharaman
1 year, 9 months ago

There is a rule of law in India, business heads don’t disappear overnight: Finance Minister Nirmala Sitharaman

Firstpost  

The unpredictability and randomness of an authoritarian political system cannot match the stability and predictability offered by a democracy such as India Union finance minister Nirmala Sitharaman took cheeky potshots on Saturday at China while explaining why India is the global destination for businesses and why the optimism surrounding the country even amid a bleak global outlook, isn’t misplaced. On …

India’s Modi asks G20 finance heads to focus on ‘most vulnerable’
1 year, 9 months ago

India’s Modi asks G20 finance heads to focus on ‘most vulnerable’

Al Jazeera  

Financial viability of many countries is being threatened by unsustainable debt, Indian PM says, as two-day G20 meeting begins in Bengaluru. Policymakers of the Group of 20 leading economies should focus on helping the world’s most vulnerable people, India’s Prime Minister Narendra Modi has said as top-level financial talks kick off near the Indian technology hub of Bengaluru. “You represent …

The G20 must help resolve debt crisis across the world
1 year, 10 months ago

The G20 must help resolve debt crisis across the world

Live Mint  

Debt distress is not merely a macroeconomic problem. As India has assumed the G20 presidency at an uncertain time for the global economy, addressing debt distress, initiating action and devising a coordinated framework for relief would be daunting endeavour.The G20 in 2020 launched a Common Framework which brought creditors such as China and India, along with the IMF, the Paris …

Budget 2023: A big boost for jobs
1 year, 10 months ago

Budget 2023: A big boost for jobs

India Today  

When Union finance minister Nirmala Sitharaman stood up to present Budget 2023, everyone knew it was going to be a tough balancing act. Even though the Indian economy is projected to grow at 7 per cent this financial year—the highest among all major economies and hailed by the FM herself as “a bright star” in the world—she had several critical …

The global economy needs a new powerhouse. India is stepping up
1 year, 11 months ago

The global economy needs a new powerhouse. India is stepping up

Live Mint  

India’s economic transformation is kicking into high gear.Global manufacturers are looking beyond China, with Prime Minister Narendra Modi stepping up to seize the moment. “India is on the cusp of huge change,” said Nandan Nilekani, a founder of Infosys Ltd., one of the nation’s largest technology services companies. “A lot of companies feel that given its size, given its young …

In 2022, India Was A Bright Spot in The World amid Gloom of War And Slowdown, 2023 Is The Time to Shine
1 year, 11 months ago

In 2022, India Was A Bright Spot in The World amid Gloom of War And Slowdown, 2023 Is The Time to Shine

News 18  

As the global economy was normalising after a battering from the Covid pandemic, the Russia-Ukraine War broke out in 2022. India also extended assistance of about $4 billion to stabilise Sri Lanka’s economy which was in a tailspin in 2022, coupled with massive political upheaval. India’s growing strategic importance on the world stage is reflected in the establishment of the …

Explained | Is the economy driving with the brakes on?
1 year, 11 months ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

Only Healthy Nation Can Be Wealthy Nation, And India Is On Right Track To Be In G7 League
2 years ago

Only Healthy Nation Can Be Wealthy Nation, And India Is On Right Track To Be In G7 League

ABP News  

Covid-19 pandemic taught us a new lesson — the wealthy nations could not keep themselves healthy despite abundant resources at their disposal. India@2047 How India Progressed On Different Health Parameters Since Independence India has progressed leaps and bounds in the 75 years since Independence on the health front. In 1981, when I was in Geneva for the 34th World Health …

India can lead G20 on education, climate and debt sustainability: World Bank President
2 years, 2 months ago

India can lead G20 on education, climate and debt sustainability: World Bank President

The Hindu  

Debt sustainability, education, and climate action are three areas of potential for India when it takes on the presidency of the Group of Twenty in December this year, according to World Bank President David Malpass. “There’s a potential focus on debt,” Mr. Malpass told reporters on a Friday morning briefing call ahead of the World Bank IMF Annual Meetings here …

‘Advantage New Delhi’ in Sri Lanka’s India lifeline
2 years, 5 months ago

‘Advantage New Delhi’ in Sri Lanka’s India lifeline

The Hindu  

Ranil Wickremesinghe’s election as the President of Sri Lanka in a crucial Parliament vote on July 20, 2022, gives India an opportunity to take the lead in the foreign aid game in its neighbourhood. Opportunity for India India was the first responder to Sri Lanka’s desperate calls for foreign aid to help tackle its crippling debt and economic crisis. Moreover, …

Sitharaman says India’s fundamentals sound because of steps taken by govt
2 years, 6 months ago

Sitharaman says India’s fundamentals sound because of steps taken by govt

Live Mint  

Finance minister Nirmala Sitharaman on Wednesday said India’s fundamentals are sound due to several steps taken by the government such as reducing corporate tax, ensuring that the economy is greatly digitized and bringing in the Goods and Service Tax and bankruptcy code. Citing a study, Sitharaman said the Pradhan Mantri Garib Kalyan Yojana reduced the probability of borrowing money significantly …

The post-pandemic economic question
2 years, 7 months ago

The post-pandemic economic question

Hindustan Times  

Unless there is a surge in Covid-19 deaths — India has learnt to manage its economy better in every successive wave — the economy is unlikely to suffer any unexpected shocks. This brings up the most important post-pandemic question: What is India’s growth potential and has the pandemic left any permanent scars on this ability? Reserve Bank of India ’s …

India has unique role in addressing 'global challenges': IMF chief Kristalina Georgieva
2 years, 8 months ago

India has unique role in addressing 'global challenges': IMF chief Kristalina Georgieva

India TV News  

Highlights Ind has role to play to overcome global challenges by reaching out to different parts of world: IMF India is using its long tradition of being inclusive and open to collaborate with all countries: IMF IMF MD Kristalina Georgieva made the remarks at a joint news conference with Nadia Calviño As the chair of the powerful grouping of G-20 …

Sitharaman calls for global policy coordination at G20
2 years, 8 months ago

Sitharaman calls for global policy coordination at G20

Live Mint  

Finance minister Nirmala Sitharaman on Thursday pressed for international policy coordination and proactive collective efforts to protect economies amid geopolitical events dampening growth and recovery prospects. Speaking at the G20 Finance Ministers & Central Bank Governors meeting in Washington D.C., Sitharaman flagged economic challenges arising from prolonged inflation, supply chain disruption, volatility in energy markets, and investor uncertainty for all …

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy
2 years, 8 months ago

Finance Minister Sitharaman meets IMF chief, discusses impact of recent 'geopolitical developments' on global economy

Firstpost  

During the meeting, IMF Chief Kristalina Georgieva highlighted India’s well-targeted policy mix that has helped the Indian economy remain resilient even with a limited fiscal space Washington: Finance Minister Nirmala Sitharaman on Tuesday held talks with IMF chief Kristalina Georgieva during which they voiced concern over the impact of the recent “geopolitical developments” on the global economy and the challenges …

India under pressure - The Hindu
2 years, 9 months ago

India under pressure - The Hindu

The Hindu  

This article forms a part of the View From India newsletter curated by The Hindu’s foreign affairs experts. In his virtual summit with PM Modi, Australian PM Scott Morrison has also emphasised that Russia’s invasion of Ukraine has implications for Indo-Pacific, calling for greater cooperation among “like-minded democracies”, Kallol Bhattacherjee reports. The Hindu’s Editorial puts the string of visits by …

An already slowed Indian economy faces fresh risks
2 years, 9 months ago

An already slowed Indian economy faces fresh risks

Al Jazeera  

Rising crude oil prices and supply disruptions following Russia’s invasion of Ukraine could further sap an Indian economy already slowed by COVID-19, posing risks to household spending and private investments, economists have said. The “surge in oil prices as a result of the crisis poses considerable risks to the Indian economy”, Aditi Gupta, an economist at Bank of Baroda, said …

Budget 2022: India to lay out plan for keeping world’s fastest-recovery going
2 years, 10 months ago

Budget 2022: India to lay out plan for keeping world’s fastest-recovery going

Live Mint  

India is set to present an annual budget topping $500 billion Tuesday, in one of its most keenly watched economic events seen pivotal to sustaining the nation’s recovery from pandemic-induced disruptions. While the fiscal deficit forecast is narrower than the 6.8% gap targeted for the current fiscal year, it’s far wider than the shortfall seen in pre-pandemic years. Higher spending …

Friendships, reciprocity, and diplomacy in the time of Covid-19
3 years, 5 months ago

Friendships, reciprocity, and diplomacy in the time of Covid-19

Hindustan Times  

Over the past few months, India has found itself in the throes of a cruel second wave of the Covid-19 pandemic. Sohini Bose and Kabir Taneja note the centrality of India’s historical and socio-cultural linkages with South Asia and West Asia in their respective chapters. Similarly, in identifying the prevalence of nascent geopolitical trends in assistance received by India, Sreeparna …

State of working India 2021: The pandemic’s impact on the economy in India
3 years, 5 months ago

State of working India 2021: The pandemic’s impact on the economy in India

Hindustan Times  

This report documents the impact of one year of Covid-19 in India, on jobs, incomes, inequality, and poverty. On top of this, there were legacy problems such as a slow rate of job creation and lack of political commitment to improving working conditions which trapped a large section of the workforce without access to any employment security or social protection. …

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P
3 years, 7 months ago

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P

News 18  

S&P Global Ratings on Wednesday said the second wave of Covid infections poses downside risks to India’s GDP and heightens the possibility of business disruptions. Last week another global rating agency Fitch had projected India’s economic growth in current fiscal at 12.8 per cent, while Moody’s Investors Service had earlier this month said that the second wave of Covid infections …

World has failed India, says top US adviser Dr Fauci as surging Covid cases ravage country
3 years, 7 months ago

World has failed India, says top US adviser Dr Fauci as surging Covid cases ravage country

India Today  

Dr Anthony Fauci, US's chief medical adviser, has said the world and wealthier nations, in particular, have failed India, which is now overwhelmed with the massive number of Covid-19 cases and deaths being recorded every day. "The only way that you’re going to adequately respond to a global pandemic is by having a global response, and a global response means …

'Govt Working to Save Lives, Livelihood': Nirmala Sitharaman Tells India Inc Amid Covid Surge
3 years, 8 months ago

'Govt Working to Save Lives, Livelihood': Nirmala Sitharaman Tells India Inc Amid Covid Surge

News 18  

Finance Minister Nirmala Sitharaman on Monday said she has taken inputs from various industry chambers on concerns of India Inc with regard to the management of COVID pandemic and the centre would continue to work with state governments to save lives and livelihood. The Finance Minister had interactions with heads of industry chambers including CII president Uday Kotak, Uday Shankar, …

Covid year in review: Four areas where India acquitted itself well during the worldwide pandemic crisis
3 years, 8 months ago

Covid year in review: Four areas where India acquitted itself well during the worldwide pandemic crisis

Times of India  

At the end of one year since the onset of Covid-19 crisis, India can take pride in its accomplishments in at least four areas. First, at 11.9 per 1,00,000 individuals, death rate due to Covid-19 stands at the lowest in India among the 20 most affected countries. With the US and many European countries committing themselves to mega fiscal transfers, …

Despite COVID-19, govt took up reforms to make India one of top economies: Sitharaman
3 years, 10 months ago

Despite COVID-19, govt took up reforms to make India one of top economies: Sitharaman

India TV News  

Union Finance Minister Nirmala Sitharaman on Saturday said that the ongoing COVID-19 situation did not deter the Central government from taking measures for reforms that are necessary for sustaining long term growth for this country. While replying to the discussion on the Union Budget in Lok Sabha, Sitharaman said that these reforms will lay a path for India to be …

India Setting an Example in 3 Key Issues of Real Globalisation in a Post-Covid World: S Jaishankar
3 years, 10 months ago

India Setting an Example in 3 Key Issues of Real Globalisation in a Post-Covid World: S Jaishankar

News 18  

External affairs minister S Jaishankar has said that Covid-19 has taught the world that real globalisation needs to be defined in terms of pandemics, climate change and terrorism, and India over the last few years has taken a lead with its efforts in all these spheres. He also pointed out that India’s vaccine diplomacy under Prime Minister Narendra Modi, who …

India should worry about its public debt
3 years, 10 months ago

India should worry about its public debt

Live Mint  

NEW DELHI : Till 1972, India’s general debt—for the Centre and states—rose steadily to about 39% of gross domestic product and then fell sharply in 1974. Remember that the granular security level data for the Centre and states allows us to paint a much more accurate picture of the interest rate component’s contribution to changes in public debt. As our …

Highlights: Budget will drive economic revival post Covid-19, says India Inc
3 years, 10 months ago

Highlights: Budget will drive economic revival post Covid-19, says India Inc

Hindustan Times  

Feb 1, 2021 1:47 PM IST > "Faith is the bird that feels the light and sings when the dawn is still dark.our fight against COVID-19 continues into 2021. > "We knew of calamities that have affected a country or a region within a country, but what we have endured with COVID-19 through 2020 is sui generis." > "Today, India …

Economic Survey 2021 updates | India’s GDP is estimated to contract by 7.7%
3 years, 10 months ago

Economic Survey 2021 updates | India’s GDP is estimated to contract by 7.7%

The Hindu  

Finance Minister Nirmala Sitharaman on Friday presented the Economic Survey that details the state of the economy ahead of the government's Budget for fiscal year beginning April 1, 2021. Here are the updates: Highlights of the Survey V-shaped economic recovery due to mega vaccination drive, robust recovery in the services sector and robust growth in consumption and investment V-shaped recovery …

Need to ensure timely, equitable availability of Covid-19 vaccines: Piyush Goyal
4 years, 1 month ago

Need to ensure timely, equitable availability of Covid-19 vaccines: Piyush Goyal

Live Mint  

New Delhi: The Union Commerce and Industry Minister Piyush Goyal has called upon the global community to ensure timely and equitable availability of vaccines and medicines for coronavirus, in sufficient quantities and affordable prices. "The need of the hour is to take effective measures to address the immediate challenges, and also prepare a long-term roadmap on how to reform an …

A world order that’s in shambles and an ultimatum on UN reforms
4 years, 2 months ago

A world order that’s in shambles and an ultimatum on UN reforms

Live Mint  

Amid the celebrations surrounding the 75th anniversary of the setting up of the United Nations, the global multilateral project is in open disarray. Prime Minister Narendra Modi’s virtual interventions at the UN last month were therefore important not only because they managed to focus on some of the key challenges facing the multilateral order, but also because they underlined a …

Even Pakistan and Afghanistan Handled Covid Better Than India, Says Rahul Gandhi on IMF Projections
4 years, 2 months ago

Even Pakistan and Afghanistan Handled Covid Better Than India, Says Rahul Gandhi on IMF Projections

News 18  

New Delhi: Congress leader Rahul Gandhi took a dig at the Centre on Friday over IMF's projection that the Indian economy is set to contract by a massive 10.3 per cent this year, saying it was another "solid achievement" by the government. The chart showed that the Indian economy is projected to contract by a massive 10.3 per cent this …

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