Divakar Vijayasarathy, founder and managing partner of consulting firm DVS Advisors LLP, said: “The government now plans to expand the PLI to other sectors in addition to electronics. These steps are definitely welcome; however, it needs to balance it with a few demand-side measures. Especially in a low-interest rate regime, the consumption would be generally low. The latest data as well clearly indicates that the demand in urban areas is very poor.” … [Read more...] about Govt considering series of measures to boost economy
Why agriculture is important in indian economy
The ministers were "pleased with the significant progress made towards finalizing the agreement for signing" at the fourth RCEP Summit in November this year, stressing the deal's "significant role" in contributing to the growth and stability of the regional and global economy. … [Read more...] about Spotlight: Major Asia-Pacific economies face recession, future uncertainty on COVID-19 fallout
“These are ongoing reform measures and should not be confused with a mega stimulus package. There is no immediate proposal to announce a second stimulus. In May this year the government announced a ₹20 lakh crore Atamnirbhar Bharat Abhiyan (Self-reliant India Initiative) package, which is already in the works. Some announcements are expected soon that will complement it,” one of the four people, a government official in an economic ministry, said. … [Read more...] about New incentives on anvil to boost economy
Against China’s success, India’s achievement, though significant compared to what it was before independence, is modest. India also took tentative steps to modernise its economy in the early 1980s, but these petered out. Freed from the constraint of food grain availability thanks to the Green Revolution, India did not manage to apply to its industrial sector the lessons it learnt in its agricultural revolution — using foreign knowledge, relying on the private sector and deploying subsidies selectively. Instead, foreign borrowing was used to ease the consumption constraint in the public sector and to cushion loss-making public enterprises. … [Read more...] about Can India catch up with China?
The description “backward” to define communities is yet another colonial relic which we, as a collective, embrace with such enthusiasm, that we almost forget what it is supposed to mean. Nowhere is this more apparent than in the arguments in favour of reservations by landowning castes that are politically and economically dominant. The demand for being classified as “backward” by Marathas has been ongoing since the 1990s. With the announcement of the inclusion of Marathas into the Socially and Educationally Backward Communities (SEBC), the Maharashtra government has, once again, yielded to the demands of this powerful caste group. This would be the third attempt in the last five years to grant this quota, which has been repeatedly struck down by the courts. … [Read more...] about Reinforcing caste hierarchies: on Maratha quota