Topic: Indian Economy
From Nehru to Modi, India’s foreign policy towards China hasn’t changed, Sharad Pawar says
In an interview to Saamana, Sharad Pawar says China is a bigger threat to India than Pakistan, and that China has distanced every neighbouring country from India.
Industrial production contracts by 35% in May, but manufacturing shows signs of revival
Index of Industrial Production figures for May are an improvement over the 58% contraction in April, the first full month of the nationwide Covid-19 lockdown.
India has fiscal and monetary space to boost demand: Principal Economic Advisor Sanyal
Sanjeev Sanyal said at India Global Week that the government has been careful not to spray money and take a step-by-step approach to economic revival.
India rolls out red carpet for global firms, Modi makes fresh investment pitch to investors
At the India Global Week 2020, Modi said India remains one of the most open economies in the world, adding that green-shoots are visible in the economy.
With fiscal deficit rocketing, Modi govt may have to go back to RBI for support: Economists
Facing fiscal deficit of 7%, Modi govt can get the Reserve Bank of India to buy sovereign bonds directly or boost dividends to help supplement revenue.
Economy showing signs of recovery but pandemic may affect business climate: Finance Ministry
Improved kharif sowing, pick-up in electricity and petrol consumption, and higher freight movement indicate green shoots in the economy, ministry report stated.
India added 7 crore jobs in June — mostly daily wagers, farmers and small businesses
About 12 crore jobs were lost due to the lockdown in April, but things are gradually improving. However, only 39 lakh new salaried jobs have been created.
How fiscal regression can force Modi govt to take sub-optimal economic decisions
Govt is being sensible in asking for bigger RBI dividend & raising petroleum taxes. But Covid is increasing fiscal stress caused by preceding economic slowdown.
GST collections in June stand at Rs 90,917 crore, 9% lower than last year
GST collections for the first quarter of this fiscal declined 59% as lockdown imposed to contain spread of Covid-19 pandemic severely impacted economic activity.
How to industrialise India — new book gives tips on ‘competitive manufacturing’
Maruti Suzuki Chairman R.C. Bhargava’s Getting Competitive, by HarperCollins, will be released on 5 July on SoftCover, ThePrint’s new e-venue to launch select non-fiction books.
TV anchors outrage over Uyghurs in China, but stay quiet about Indian Muslims
After cheering the ban on Chinese apps, the latest coping mechanism of Indian TV news seems to be focusing on the plight of the Uyghur Muslims in China.
The next 3 months will reveal how badly global economy has been hit by coronavirus
Next 3 months stand to reveal the underlying economic pain more vividly than past 3 months as massive fiscal assistance from govts is soon going to fade.
Defence
India, China to hold Corps Commander-level talks on 14 July at Chushul
The talks will focus mainly on the second phase of disengagement along the Line of Actual Control (LAC), said the Indian Army officials.
Uttar Pradesh is India’s broken heartland, break it into 4 or 5 states
Uttar Pradesh, our largest state by population and most powerful, is also the worst governed. A state with 1-in-6 Indians has no hope because of its size.