Sardar Sarovar Dam, a gravity dam on the Narmada River near Navagam, Gujarat and one of the largest dams in the world, was dedicated to the nation by Prime Minister Narendra Modi on the occasion of his 67th birthday on Sunday September 17, 2017. A vision of the first deputy prime minister of India Sardar Vallabhbhai Patel and its foundation stone was laid out by Pandit Jawahar Lal Nehru on April...
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Category: Economy
Universal Basic Income
“In the modern world, everybody should have the opportunity to work and to thrive. Most countries can afford to make sure that everybody has their basic needs covered,” has recently been stated by Richard Charles Branson, an English business magnate, investor and philanthropist, who founded the Virgin Group that controls more than 400 companies; in support of Universal Basic Income; Continue Reading...
Modinomics: a Catalyst of Economic Reforms to Make India a Developed Nation by 2022
India achieved independence in 1947, prior to which, i.e., in the first five decades of the 20th century from 1900 to 1947 the per capita GDP in India was stagnant, as the trend of growth in GDP during this period was 0.9 per cent with population growing by 0.8 per cent. We can experience some triumphalism on the 70th anniversary of our independence with India being est...
Economic Survey 2016-17: Volume-2 is Optimistic despite Deflationary Impulses & Subdued Growth
Economic Survey 2016-17: Volume-2, for the first time government presented a second or a mid-year economic survey for the year 2017-18 highlighting the new factors that the economy faces since the last such exercise in February, tabled in Parliament by Finance Minister Arun Jaitley on Friday 11 August 2017 rekindles optimism on ongoing structural reforms driven by:
Sectors of Indian Economy
Economic activities are activities that result in the production of Goods and Services. Indian Economy can be classified into various sectors on the basis of ownership, working conditions of the workers and the nature of the activity being performed. Sectors are the group of economic activities classified using some important criterion. The value of final goods and services produced in each sect...
Islands Development Agency to focus on Holistic Development
Islands Development Agency (IDA) that was set up on June 1, 2017 following the Prime Minister’s review meeting for the development of islands, with focus on Holistic Development of Islands had its first meeting chaired by Union Home Minister Shri Rajnath Singh on Monday July 24, 2017, who presented vision of developing India’s maritime economy while preserving n...
High technology interface to capture data regarding e-way bill – that will play a vital role in GST
Under GST (Goods & Services Tax) regime, e-way bill, or electronic way bill, that likely to kick in from October 2017, will be required to transport any goods worth more than Rs 50,000. IT platform for this e-way bill is being developed by the National Informatics Centre (NIC) along with GST-Network (GSTN). The e-way bill would rely heavily on technology, employing RFID chips and QR codes; t...
Corporate Activity in India is Growing with Corporate Bonds despite Slowdown in Bank Credit
Recent trends in corporate debt markets in India indicate that corporate activity in the country has not slowed down despite a slowdown in the bank credit growth to 5.4% during FY17, as the growth in outstanding bonds and commercial paper resulted in an aggregate borrowing growth of 12.5% at the end of March 2017. The focus on development of debt markets in India has considerably increased and has garnered a lot...
History & Details of Farm Loan Waivers in India
The first ever nation-wide farm loan waiver was announced in 1990 by Janata Party government led by then Prime Minister V.P. Singh and cost the government Rs 10,000 crore.
Thereafter, on February 29, 2008 P. Chidambaram, the then Finance Minister under United Progressive Alliance government led by Prime Minister Man Mohan Sin...
GST: Key Challenges for Indian Economy
Goods and Services Tax (GST) that has finally transformed India from being a political union to a political and economic union in the true sense was in itself a challenge considering how it has taken 17 long years us to get there, and how tortuous the journey has been. GST is undoubtedly India’s biggest piece of economic reforms that has also been the most complex reform...