India’s State Sector Is Thriving. That’s a Problem
6 months, 3 weeks ago

India’s State Sector Is Thriving. That’s a Problem

Live Mint  

-- Ten years ago, when Narendra Modi — then chief minister of business-friendly Gujarat state — rode an electoral wave to the prime ministership in New Delhi, many expected that he would be far more supportive of the private sector than previous Indian leaders. The minister in charge of India’s state petroleum companies, for example, says that the Modi administration has introduced a “new era of governance characterized by professionalism, strategic foresight, and unwavering commitment to national interests.” Most analysts are similarly optimistic, if less effusive. If what are known in India as “public-sector undertakings” are doing well, is that because the private sector is under-performing on growth and investment? A more fundamental problem is that Modi has developed a battle-plan for economic growth over his past two terms — and the private sector isn’t meant to lead the charge.

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History of this topic

A road map for India to grow at 10% rate over the next three decades
1 month, 2 weeks ago

A road map for India to grow at 10% rate over the next three decades

Hindustan Times  

India needs robust growth to meet the aspirations of our people. A focus on labour intensive manufacturing and exports can improve our current account balance. Such growth rates will require strong fiscal health, a thriving manufacturing sector, liveable cities, skilled human capital, and be driven by private investment. Manufacturing Exports A focus on labour intensive manufacturing and exports can also …

States' Economic Potential: A Focus on Growth and Prosperity
2 months ago

States' Economic Potential: A Focus on Growth and Prosperity

New Indian Express  

NITI Aayog emphasizes the crucial role of states in achieving Viksit Bharat by 2047. The focus will be on accelerating economic growth at the state level to achieve this goal. The states with the largest economies, such as Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, Karnataka, West Bengal, Rajasthan, Andhra Pradesh, Telangana, and Delhi, will be prioritized in economic policy strategies.

India's Growth Outlook: A Beacon of Stability Despite Temporary Slowdown
2 months ago

India's Growth Outlook: A Beacon of Stability Despite Temporary Slowdown

Deccan Chronicle  

India's growth outlook remains steady despite a temporary slowdown in momentum in the second quarter of 2024-25. The country's aggregate demand is expected to shrug off the slowdown due to the pick-up in festival demand and consumer confidence. Domestic manufacturing and services PMI have shown signs of improvement, while rural demand is expected to get a boost from the improved …

Up 4%, core sectors’ growth at 20-month low in June
4 months, 3 weeks ago

Up 4%, core sectors’ growth at 20-month low in June

The Hindu  

Growth in India’s eight core sectors slipped to a 20-month low of 4% in June from an upgraded 6.4% rise in May, with most sectors barring coal recording a sharp decline in output growth, steel production at a seven-month low, and refinery products slipping into contraction for the first time in five months. However, electricity generation slipped to a four-month …

India needs domestic investments, FDI will follow, says Congress, slamming PM’s focus on foreign investments
4 months, 3 weeks ago

India needs domestic investments, FDI will follow, says Congress, slamming PM’s focus on foreign investments

The Hindu  

Attacking Prime Minister Narendra Modi over NITI Aayog speech that focused on getting more international investments, the Congress on July 27 emphasised that the country first needs domestic investments. “The non-biological PM in his address to NITI Aayog has woken up to the realisation that India needs to make policies conducive to international investments, that is, FDI. The non-biological PM …

Budget 2024: Placing thrust on infrastructure
5 months ago

Budget 2024: Placing thrust on infrastructure

The Hindu  

Finance Minister Nirmala Sitharaman accelerated the government’s thrust on the crucial infrastructure sector in her seventh successive Budget presentation and the first of PM Modi’s third term. A massive expansion in urban housing at an investment of ₹10 lakh crore, a rural roads programme worth ₹26,000 crore are among the major features of the big infrastructure push. The Indian economy’s …

India’s Modi focuses on jobs creation in first budget after winning polls
5 months ago

India’s Modi focuses on jobs creation in first budget after winning polls

Associated Press  

NEW DELHI — Indian Prime Minister Narendra Modi’s newly formed government presented an annual budget to Parliament that raises spending to generate more jobs and spur economic growth, while aiming to appease coalition partners it needs to stay in power. Modi said the budget will lead India toward “better growth and a bright future.” “Today’s budget will act as a …

Eco Survey 2024: Amid high growth India’s future appears bright, but a ‘grand alliance’ to tame unemployment is required
5 months ago

Eco Survey 2024: Amid high growth India’s future appears bright, but a ‘grand alliance’ to tame unemployment is required

Firstpost  

The survey has also been cautionary about the path of India towards a ‘Viksit Bharat’ in 2047, as it shows how India will face situations unlike what China faced when it was growing at high speed The Chief Economic Advisor to the Government of India prepares the Economic Survey that is presented a day ahead of Budget Day. Content Driven …

PM Modi's 'Amrit Kaal' growth strategy in Economic Survey: These are 6 key focus areas
5 months ago

PM Modi's 'Amrit Kaal' growth strategy in Economic Survey: These are 6 key focus areas

Hindustan Times  

Ahead of the Parliament session, PM Modi said, “It is a matter of pride that after 60 years, a government has come to power for the third time and will present the first Budget for the third time.I have been giving guarantees to the people of the country and our mission is to bring this to the ground. These are …

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling
6 months, 2 weeks ago

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling

Al Jazeera  

Indian Prime Minister Narendra Modi and his Bharatiya Janata Party campaigned on India’s sizeable economic expansion in the lead-up to the country’s recent national elections. Despite strong headline economic growth, nearly half of India’s population is still employed in the relatively unproductive agricultural sector – a share that rose during Modi’s second term, from 42.5 percent in 2018-19 to 45.8 …

India’s economic boom won’t be derailed by its election shock
6 months, 2 weeks ago

India’s economic boom won’t be derailed by its election shock

CNN  

New Delhi CNN — Narendra Modi has declared victory in India’s election but he’ll need the support of smaller parties to govern, a shock result that could make it harder for him to pass major economic reforms. India boomed during Modi’s first two terms as prime minister, leapfrogging the United Kingdom to become the world’s fifth biggest economy and growing …

GDP growth impresses, but rural demand remains a worry
6 months, 3 weeks ago

GDP growth impresses, but rural demand remains a worry

New Indian Express  

India’s economic growth seems to be going gangbusters. Ending nearly a decade-long wait, real GDP growth crossed the 8 percent mark, touching 8.2 percent in 2023-24. Provisional data released by the National Statistics Office also showed that the gross value added—net of subsidies and taxes, and hence considered a better measure of economic activity—grew by 7.2 percent. Agriculture and allied …

Maharashtra votes 2024: Why is the state losing big projects to Gujarat?
7 months, 3 weeks ago

Maharashtra votes 2024: Why is the state losing big projects to Gujarat?

Hindustan Times  

Bhiwandi, about two hours away by road from Mumbai city, has long been known as the power loom hub that came into its own after the textile mills in Mumbai began shuttering down in the early 1980s. Of the state’s total GDP of around ₹38.79 lakh crore, Mumbai region alone contributes around 20 percent. Whether Maharashtra – and within it …

India’s Modi vows to boost social spending, make country into a manufacturing hub ahead of election
8 months, 1 week ago

India’s Modi vows to boost social spending, make country into a manufacturing hub ahead of election

Associated Press  

NEW DELHI — Indian Prime Minister Narendra Modi on Sunday vowed to boost social spending, develop infrastructure and make India into a global manufacturing hub as companies shift away from China, as he unveiled his Hindu nationalist party’s election strategy. Modi promised to expand social programs introduced during his party’s 10-year rule, including millions of free homes for the poor, …

Real GDP growth may hit 8% this fiscal year, signals FinMin
9 months ago

Real GDP growth may hit 8% this fiscal year, signals FinMin

The Hindu  

India’s economy may well end up growing by about 8% this fiscal, outstripping the 7.6% real GDP growth projected by the National Statistical Office, the Finance Ministry signalled on Friday, citing the continuing momentum in economic activity in the ongoing final quarter of 2023-24. Despite risks such as “hardening crude oil prices” and “global supply chain bottlenecks to trade”, the …

Fin Ministry Attributes India's Growth Amid Global Slowdown To Strong Investment And Demand
9 months ago

Fin Ministry Attributes India's Growth Amid Global Slowdown To Strong Investment And Demand

ABP News  

Robust investment activity and strengthening private consumption demand is driving growth in the Indian economy amidst the sluggish global growth, according to the Finance Ministry’s monthly review released on Friday. The strong demand is evident from indicators like burgeoning air passenger traffic and sale of passenger vehicles, rising digital payments, improved consumer confidence and expectations of a normal monsoon, the …

Everything Wrong With Modi Government’s White Paper on India's Economy (Part 1)
10 months, 1 week ago

Everything Wrong With Modi Government’s White Paper on India's Economy (Part 1)

The Quint  

Yes, the UPA-II years may have been fraught with macroeconomic instabilities witnessing a higher inflation rate, episodes of policy paralysis and economic uncertainty, but those happenings didn't cause a structural rupture in the social and economic mobility and growth process of India's focal point: the aspirational class. Also, what caused a massive economic shock in India was the 2016 demonetisation …

'Real Secularism And Social Justice Is...': PM Modi At 'Viksit Bharat, Viksit Goa 2047' Event
10 months, 2 weeks ago

'Real Secularism And Social Justice Is...': PM Modi At 'Viksit Bharat, Viksit Goa 2047' Event

ABP News  

In an address during the 'Viksit Bharat, Viksit Goa 2047' programme, Prime Minister Narendra Modi on Tuesday asserted the significance of Goa's contribution to the nation's progress, citing the historic Lohia Maidan as a testament to the state's "commitment to the nation". Highlighting Goa's unique blend of social diversity, PM Modi noted that the state, though small in size and …

India will see investment of USD 67 billion in energy sector in next 5-6 years: PM Modi
10 months, 2 weeks ago

India will see investment of USD 67 billion in energy sector in next 5-6 years: PM Modi

India TV News  

Prime Minister Narendra Modi announced on Tuesday that India is poised to witness a staggering investment of USD 67 billion in the energy sector over the next 5 to 6 years. Highlighting India's robust economic growth, currently exceeding 7.50 per cent, Modi emphasised the nation's imminent ascension to the rank of the world's third-largest economy. Modi said, "In the next …

A political, feel-good statement
10 months, 3 weeks ago

A political, feel-good statement

The Hindu  

Often, Budget speeches are political statements — more so, with impending general elections. The Budget statement attributed post-COVID growth revival to public infrastructure investment and proposes to continue the same in the coming year with a 11% rise in capital expenditure. In the last 3-4 years, the government has steadily raised public infrastructure investments, mainly on highways and communications, which …

States in focus, a budget that seeks to lift all boats
10 months, 3 weeks ago

States in focus, a budget that seeks to lift all boats

Hindustan Times  

NITI Aayog’s discussion paper, “Multidimensional Poverty in India since 2005-06”, shows that nearly 250 million Indians moved out of multidimensional poverty between 2013-14 and 2022-23. Interim Budget 2024-25, through its focus on the upliftment of garib, mahila, yuva and annadata, seeks to ensure that the tangible development gains of the last decade are sustained and further accelerated. This signals India’s …

Assam Government signs Rs 3,114 crore MoU with private enterprises
1 year, 3 months ago

Assam Government signs Rs 3,114 crore MoU with private enterprises

Op India  

Assam Government on Saturday signed a Memorandum of Understanding with six private sector industrial enterprises for setting up mega industrial parks totalling an investment of Rs 3,114 crore across the state. Addressing the ceremonial signing of the MoU, CM Himanta Biswa Sarma said,” Today’s signing of agreements that would entail investments of as much as Rs 3,000 crore indicates Assam …

Focusing on roadmap to make India a $5 trillion economy: Govt
1 year, 4 months ago

Focusing on roadmap to make India a $5 trillion economy: Govt

Live Mint  

New Delhi: The government’s roadmap to makinge India a $5 trillion economy comprises measures like focussing on inclusive growth, promoting digital economy, fintech, technology-enabled development, energy transition and climate action, and relying on a virtuous cycle of investment and growth, minister of state for fnance Pankaj Chaudhary said on Tuesday. Responding to an unstarred question in the Rajya Sabha, Chaudhary …

Modi govt's red carpet for semiconductor industries, offers 50% financial assistance to technology firms
1 year, 4 months ago

Modi govt's red carpet for semiconductor industries, offers 50% financial assistance to technology firms

India TV News  

Semicon India 2023: Prime Minister Narendra Modi on Friday said that the government will give technology firms 50 per cent financial assistance for setting up semiconductor manufacturing facilities in the country. Addressing the Semicon India 2023 conference in Gandhinagar, PM Modi said that his government has rolled out the red carpet for semiconductor industries. India’s continuously growing startup ecosystem will …

Private sector share in investment sees sharp decline in Q1
1 year, 5 months ago

Private sector share in investment sees sharp decline in Q1

The Hindu  

Private investors turned cautious in the first quarter of 2023-24, with fresh manufacturing investment plans shrinking 17.5% year-on-year and overall project outlays rising just 4.7% to ₹3.88 lakh crore, according to Projects Today. While the April to June period recorded a sharp sequential decline in investment plans announced by private players — from a record high of ₹10.5 lakh crore …

India is making its mark in the world
1 year, 6 months ago

India is making its mark in the world

Hindustan Times  

India is in a rare moment of equilibrium. India’s economy is no longer at the receiving end of the global order but is in the fray of the world’s most powerful future economies, with an unmatched growth rate. The International Monetary Fund says India and China will account for 50% of the total world gross domestic product growth in 2023, …

Book Review | A groundbreaking history of Indian public policy & entrepreneurship
1 year, 7 months ago

Book Review | A groundbreaking history of Indian public policy & entrepreneurship

Deccan Chronicle  

Amitabh Kant, our G-20 Sherpa, has had an illustrious career as an excellent civil servant, constantly arguing for positive changes, some liberal as well. The tryst with reforms began in 1991 in response to a severe foreign exchange crisis wherein trade policy liberalisation, reduction in import duties and FDI liberalisation came up. Despite the high emission history of the developed …

ADB pares India’s growth hopes to 6.4%
1 year, 8 months ago

ADB pares India’s growth hopes to 6.4%

The Hindu  

The Asian Development Bank has slashed its growth projection for India for 2023-24 sharply from 7.2% estimated earlier to 6.4%, attributing the cut to the global economic slowdown, tight monetary conditions, and persistently elevated oil prices. While domestic consumption demand is likely to stay healthy, private investment growth is likely to be lower this year due to high lending rates …

Modi underlines opportunities from renewable energy sources
1 year, 10 months ago

Modi underlines opportunities from renewable energy sources

The Hindu  

Prime Minister Narendra Modi said on Thursday that the potential of solar, wind and biogas in India is no less than any gold mine or oil field for our private sector. Addressing a webinar, Mr. Modi said that India’s future development would be based on three pillars for green growth and energy transmission. Referring to the global efforts for diversification …

Sanjaya Baru | The State in the economy and state of the economy
1 year, 10 months ago

Sanjaya Baru | The State in the economy and state of the economy

Deccan Chronicle  

Continuing the emphasis placed in the Union government’s budgetary strategy for the last fiscal year 2022-23, Union finance minister Nirmala Sitharaman has retained her focus on public investment as the driver of economic growth for the ensuing 2023-24 fiscal year. Recognising that private investment was not adequately forthcoming during the government’s first term in office, former finance minister Arun Jaitley …

India to raise spending on job creation before election
1 year, 10 months ago

India to raise spending on job creation before election

Al Jazeera  

Finance Minister Nirmala Sitharaman said private investment was rising after the pandemic and the government should focus on driving growth. Prime Minister Narendra Modi’s government presented to Parliament an annual budget of $550bn that calls for ramping up capital spending by 33 percent to spur economic growth and create jobs in advance of a general election next year. The government …

Sanjaya Baru | Budget 2023: Capital strike subdues the ‘animal spirits’
1 year, 11 months ago

Sanjaya Baru | Budget 2023: Capital strike subdues the ‘animal spirits’

Deccan Chronicle  

“I would like now to see private investors and private industry in India coming forward with that so-called animal spirits to show that it is possible for India to be one of the fastest-growing economies.” So implored Union finance minister Nirmala Sitharaman, addressing a gathering of business leaders earlier this month. Recognising that private investment was not adequately forthcoming, Ms …

Rise in government capital spending pushes investments up by 53%
1 year, 11 months ago

Rise in government capital spending pushes investments up by 53%

The Hindu  

A sharp 61.2% sequential rise in capital spending by the Central and State governments lifted fresh investment plans announced in the third quarter of 2022-23 to ₹7.1 lakh crore, even though private sector investments dropped 41% from ₹6.31 lakh crore in Q2 to ₹3.71 lakh crore between October and December 2022. Despite a 15.5% quarter-on-quarter decline in new investment plans …

India's public capex may not need to expand at same pace in coming years, says CEA
2 years ago

India's public capex may not need to expand at same pace in coming years, says CEA

The Hindu  

India's public sector capital expenditure will continue, but may not need to expand at the same pace as it has in recent years, the country's chief economic adviser said on Friday. Therefore, it may not be necessary or even healthy for public sector to keep expanding capital investment at the same pace, he added. As private firms start to borrow …

Mohan Guruswamy | Reforming public sector doesn’t mean selling it
2 years, 1 month ago

Mohan Guruswamy | Reforming public sector doesn’t mean selling it

Deccan Chronicle  

Prime Minister Narendra Modi is, by all accounts, a fairly isolated figure. Yet, in the eight years he has been in office, Mr Modi has shown a singular lack of interest in the public sector, where our economic and industrial malaise is concentrated. Mr Modi should now be talking to the bosses of the public sector units to understand their …

Why India Inc. is not taking a Hanuman leap
2 years, 2 months ago

Why India Inc. is not taking a Hanuman leap

The Hindu  

In a meeting held with the country’s corporate leaders on September 15, Finance Minister Nirmala Sitharaman drew attention to an important aspect of the economy today. Also, they would not necessarily have been enthused by the possibility that the ideology of ‘minimum government’ could end up putting public investment on hold, failing to expand aggregate demand when it was needed. …

Bright growth prospects driving high imports, financing them a top priority: Finance Ministry
2 years, 3 months ago

Bright growth prospects driving high imports, financing them a top priority: Finance Ministry

The Hindu  

India’s growth has been robust and inflation in control, even as the world’s major economies are afflicted by slowing growth and high inflation, the Finance Ministry said on Saturday, reckoning that the economy will grow 7.2% this year driven by a revival in consumption, employment and investments. The Finance Ministry attributed the ‘inflation acceleration in 2022 compared to 2021’ to …

Weighing in on India’s investment-led revival
2 years, 4 months ago

Weighing in on India’s investment-led revival

The Hindu  

The Finance Minister, Nirmala Sitharaman, said recently that India’s long-term growth prospects are embedded in public capital expenditure programmes. Lag in investment Public investment-led economic growth has a respectable academic pedigree, and forms a credible strand of explanation for India’s post-Independence economic growth. However, a recent uptick is evident in the real gross fixed capital formation rate — the fixed …

U.P. to push India’s growth story: PM Modi
2 years, 6 months ago

U.P. to push India’s growth story: PM Modi

The Hindu  

June 03, 2022 11:21 pm | Updated June 04, 2022 12:14 am IST - LUCKNOW Prime Minister Narendra Modi on Friday assured top industrialists of the country that he was willing to carry out the necessary reforms in any sector for the sake of development of Uttar Pradesh and an “atmanirbhar Bharat.” Industrialist Gautam Adani said he was investing ₹70,000 …

DC Edit | The growth story continues
2 years, 6 months ago

DC Edit | The growth story continues

Deccan Chronicle  

In spite of local lockdowns and the impact of Delta and Omicron variants of the coronavirus, the Indian economy has managed to grow by 8.7 per cent in the financial year 2021-22. In contrast, consumption — both private and government — trailed investment as the government’s focus has been on creating future assets while boosting economic growth. Faster growth in …

What the Union budget got right, and what it missed
2 years, 10 months ago

What the Union budget got right, and what it missed

Live Mint  

After more than a week of frenzied newspaper commentary on the budget, readers may want to reflect on what it has done that will make a difference in 2022-23 and what more is needed. Gross domestic product in the current year will be about 1.6% higher than the pre-pandemic level, but since our population has also increased, per capita GDP …

FM nudges India Inc to ramp up private investment to sustain growth momentum
3 years, 1 month ago

FM nudges India Inc to ramp up private investment to sustain growth momentum

Live Mint  

Finance minister Nirmala Sitharaman urged companies to boost investments and expand capacity without waiting for risks to vanish, as depressed private investments force the government to increase spending on public work programmes to blunt the pandemic’s impact. The finance minister’s nudge comes two days after the Reserve Bank of India exuded confidence in its monthly bulletin that the stage is …

Public Investment Important for India, Driving Factor in Growth, Says IMF’s Gita Gopinath
3 years, 2 months ago

Public Investment Important for India, Driving Factor in Growth, Says IMF’s Gita Gopinath

News 18  

A day after International Monetary Fund predicted India as fastest growing economy, chief economist Gita Gopinath said public investment was “absolutely” important for India’s growth, as it will be a driving factor over the next few years. Gopinath said, “It is an incomplete recovery, but a recovery nevertheless as listed firms in India were doing better than expected,” adding, “Indian …

India Never Had More Decisive Govt, Says PM Modi, Cites Example of Air India to Assert Commitment
3 years, 2 months ago

India Never Had More Decisive Govt, Says PM Modi, Cites Example of Air India to Assert Commitment

News 18  

Prime Minister Narendra Modi on Monday launched Indian Space Association, an industry body aspiring to be the voice of the country's space sector, and underlined his dispensation's commitment to reforms, saying the country never had a more decisive government. Modi cited the government's success in privatising loss-making public airline Air India to assert that this shows its commitment and seriousness. …

PM Modi’s Call for Asset Monetisation Signals Govt Commitment, Ball Now in Private Sector’s Court
3 years, 9 months ago

PM Modi’s Call for Asset Monetisation Signals Govt Commitment, Ball Now in Private Sector’s Court

News 18  

The Prime Minister of India addressing a webinar on disinvestment and asset monetization with participants drawn from 14 key ministries of the government and key national/international private businesses on February 24 is clearly the defining moment for economic transformation of the Indian landscape. If the Union Budget 2021 was the bold call, then Wednesday’s address by Prime Minister Narendra Modi …

Opinion | A reassuring Budget focused on growth, investment & jobs
3 years, 10 months ago

Opinion | A reassuring Budget focused on growth, investment & jobs

Live Mint  

Budget 2021 has given a massive push to healthcare and infrastructure with a focus on growth, investment and jobs. To fund this massive infrastructure push the Budget has announced ambitious plans to privatise central public sector enterprises, monetize public sector assets, including government land banks, ease foreign direct investment limits in sectors like insurance and float zero-coupon bonds for infrastructure …

Parsa Venkateshwar Rao Jr | State back in saddle; can pvt sector drive growth?
3 years, 10 months ago

Parsa Venkateshwar Rao Jr | State back in saddle; can pvt sector drive growth?

Deccan Chronicle  

It was a sober budget for sombre times. Ms Sitharaman has announced a huge capital expenditure outlay across sectors from health to infrastructure, and even to the financial sector, by setting up a Developmental Financial Institution with a capitalisation of Rs 20,000 crores. The vague hope entertained by the Narendra Modi government, especially by Prime Minister Modi himself, that India …

Budget 2021: A push to privatise India
3 years, 10 months ago

Budget 2021: A push to privatise India

India Today  

Budget 2021-22 makes a concerted push toward getting the government out of commercial sectors, a move in line with the Narendra Modi government’s stated agenda of minimum government. On this count, finance minister Nirmala Sitharaman has budgeted for revenues of Rs 1.75 lakh crore from stake sales of public sector companies, including two public sector banks and one insurance company. …

Budget 2021: Govt Should Set Stage for Unleashing Economic Growth for Decades to Come
3 years, 10 months ago

Budget 2021: Govt Should Set Stage for Unleashing Economic Growth for Decades to Come

News 18  

The Union Budget of 2021 must look beyond revenue and expenditure estimates for the next year. In the short term, all four engines of economic growth – consumption, investments, government expenditure and exports – need to fire at full throttle. This year’s Budget provides an excellent opportunity to rid India of its credit malaise by selling the government’s equity stake …

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