Growth next year is expected to slow down due to global headwinds & fading of favourable base effect. Budget must put economy on sustained growth path, consider spending priorities.
Projection for inflation has been retained at 6.7% for this year and while peak inflation may be behind us, it's still above RBI's comfort level. So, keeping an eye on it is desirable.
While GDP growth was lower than Q1's 13.5%, economy saw an uptick on quarter-on-quarter basis driven by services sector. But contraction in manufacturing is cause for some concern.
PSBs saw year-on-year rise of nearly 50% in net profit in July-Sept quarter thanks to broad-based rise in loans. But MSME stress, pace of credit & deposit growth will determine future.
High-emitters like US should take on greatest responsibility to tackle emissions and help — without being stalled by dialogue — finance nations most vulnerable to climate change.
Overseas ownership of Indian govt & sovereign bonds has fallen to record lows. FPIs have utilised less than 25% of their investment limit in govt bonds & just 17% in corporate bonds.
Adopted by India in October 2016, the inflation targeting framework gives flexibility to the RBI to also focus on growth without undermining its inflation control objective.
In the next budget, last of Modi govt's 2nd term, announcing a glide path to a deficit target of 4.5% of GDP by 2025-26 would lend credibility to its fiscal consolidation initiatives.
Moving holidays, like Diwali, deeply impact economic data. However, this should not be mistaken as a leading indicator of the long-term performance of segments.
CBDCs have the potential to lead to greater financial inclusion, but a concept note issued by the Reserve Bank of India also rightly places emphasis on consumer protection.
Recommendations appear in Niti Aayog’s Tax Policy Working Paper Series–II. It says there is a need to shift away from fear-based enforcement to trust-based governance.
In service with the British military since 2019, it is also known as the Martlet missile. Ukrainians have also deployed these missiles against Russian troops.
Education, reservations, govt jobs are meant to bring equality and dignity. That we are a long way from that is evident in the shoe thrown at the CJI and the suicide of Haryana IPS officer. The film Homebound has a lesson too.
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