Analysing Economic Performance of Indian States
17 Oct 2023 India stands as the world’s fastest-growing major economy and is well poised to reach US$9 trillion milestone by 2030. States hold the key to achieving this vision, as they drive India’s economic growth and development trajectory. However, regional disparities loom large in India’s economic performance, stemming from diverse geography and varying state-level economic growth. Five states – Maharashtra, Gujarat, Tamil Nadu, Karnataka and Uttar Pradesh are the major contributors to […]
Indian Monsoon Variability: It’s Impact on the Indian Economy
28 Oct 2023 South-west (SW) monsoon, spanning from June to September is the predominant contributor to more than 70 per cent of nation’s total annual precipitation. This rainfall season coincides with the Kharif crop growing period during which major crops such as rice, pulses, oilseeds, cotton, jute, and sugarcane are cultivated. These Kharif crops, accounting […]
Financial Inclusion and Fintech: Empowering the Global Economy
04 Jul 2023 The world economy continues to grapple with the aftermath of the pandemic, which not only resulted in loss of lives and widespread misfortune but also caused far-reaching effects such as disrupted supply chains, mounting global debt, and an impending global recession. One significant consequence has been the widening economic gaps, particularly impacting […]
Five years of GST and the way forward
13 Jul 2022 GST is seen as a shining example of cooperative federalism aimed at taking the country towards a one-nation, one-tax and one-market regime. The unified Goods and Services Tax (GST), lauded as a historic and game-changing reform, completed five years of its successful implementation on June 30, 2022. Considered one of the biggest […]
Despite Pressures, the Rupee’s Remarkable Resilience
23 Jul 2022 Even as the rupee has fallen sharply against the dollar, the depreciation has been relatively lower unlike previous times The Indian rupee has depreciated by around 7% against the U.S. dollar, since the start of the year, in response to various domestic and global factors. Specifically, a widening current account deficit, persistent […]
Scaling-Up Micro, Small and Medium Enterprises
25 Jul 2022 Historically, India has supported and encouraged micro, small and medium enterprises (MSMEs) through various policy initiatives by providing them with subsidized credit, technical assistance, excise tax exemptions and preference in government procurement (Expert Committee on MSMEs, RBI, 2019). The Small-Scale Reservation Policy (1967), which attempted to shield small scale units from competition […]
India’s Burgeoning Infrastructure
16 Aug 2022 India has long been connected globally, since the age of the first Spice Route, and has continued to strengthen its ties with the world still. Such has the augmentation of exports been, that India’s merchandise trade deficit in March 2022 was $18.5 billion, with exports increasing by about 20% to $42.22 billion […]
Catapulting Economic Growth with Infrastructure Development
29 Aug 2022 Conventionally, infrastructure development encompasses creation of robust transport & communication systems, civic amenities, power & energy generation / supply facilities, etc. Major infrastructure development initiatives were undertaken by western block countries through the 50s and 60s. China followed suit, though the 80s and 90s. But India’s story unfolded rather late, mostly after […]
Infrastructure Financing: The Way Forward
23 Sep 2022 The global economy is going through turbulent times with the protracted war in East Europe and evolving geopolitical situation showing no signs of abatement. Thus, expectations of a recession in Europe and the USA are gathering momentum. At the same time, the zero Covid-19 policy in China, sharp spike in commodity prices […]
New Direct Tax Dispute Resolution Scheme
11 Jan 2022 As per the Receipts Budget 2021-22, the direct tax disputed amount as on 31st March 2020 stands at INR 8.8 lakh crores. While a majority (78.6%) of the cases are locked in litigation at Commissioner (Appeals) level, a huge amount is also locked at Income Tax Appellate Tribunal (ITAT), High Courts and the […]