Economic Reforms

Manmohan Singh, a pioneering economic administrator and India's fourth-longest-serving PM, leaves behind a legacy of economic reforms, policy pragmatism, and unwavering dedication to public service

An analysis of economic parameters shows that history will be kinder to him more for his first term than the second

Manmohan Singh, who died at 92, was above everything else the embodiment of hope

Year ender 2024: India has maintained its position as the fifth-largest economy and continues to be one of the fastest growing economies in the world. Here's how 2024 panned out for the country

Evidence suggests that both the extent of change and the associated income losses are likely to be higher than expected

Shenzhen stands as a template for spectacular economic success, but now, deep anxiety looms over the impending Trump presidency

While some people view exchange rate fluctuation as detrimental to the economy, it is, in fact, a crucial element of economic flexibility

In a letter, philanthropist and industrialist Ratan Tata conveyed his admiration for former Prime Minister PV Narasimha Rao's "outstanding achievement" in initiating vital economic reforms in India

The nature of this suitability test is not known yet. Argentina's Javier Milei administration has been aggressively cutting government spending and has fired 50,000 employees since December

Economic risks for the wealthy due to climate change is growing at the fastest rates because of impacts to global supply chains and goods and services, even as the highest risks remain with the poorest around the world, according to a new study. Across countries, lower-income consumers are known to face higher economic risks in a changing climate because of a low capacity to adapt. However, researchers explained that inequality in consumption between varied income groups within a country is grounded in how easily one is able to substitute goods to adapt to the effects of climate change, including shocks to supply chains. The team from the Potsdam Institute for Climate Impact Research (PIK), Germany found that low-income consumers are more vulnerable to supply shocks as they spend a greater share of their budget on hard-to-substitute necessary goods. On the other hand, high-income consumers spent larger shares of their budget on easier-to-substitute goods so that they suffer smaller

The Centre is currently engaging with various countries to boost FDI inflows, which dropped to $26.5 billion in FY24 from $42 billion in FY23

Political acceptability comes more readily to a govt visibly involved in supporting non-corporate private sector, reducing income inequalities and regional disparities, and addressing caste concerns

Since 1990, 34 middle-income economies covering only around 250 million people have managed to shift to high-income status

The government's focus should be on rapid economic growth, and it would do well to avoid issues that could hamper its ability to intervene in economic matters effectively

PM said, his government has chosen the path of reforms to bring about a change in the lives of the poor, the middle class, deprived people, the urban population, and the youth

But much bolder and comprehensive reforms are needed

Governor Shaktikanta Das on Friday said the Reserve Bank's relations with the government have been "smooth" during his nearly six-year term, and credited the close coordination between the two for the quick revival of the economy after the pandemic. Speaking at an event organised by Financial Express here, the bureaucrat-turned-central banker said nobody has expected him to be a "cheerleader" for the government during his term. "I am saying from my experience. Nobody expects RBI to be a cheerleader. I have had no such experience," he said, responding to a specific question about a lament made by one of his predecessors in a recent book. Asked if he is open for a new term at Mint Road, Das said he is very focused on the current assignment and does not think of anything outside that. Das said the RBI is optimistic that its estimate of 7.2 per cent growth for FY25 will be met, and added that with steady growth, the focus of the policy has to be "clearly and unambiguously" on inflation

The pace of reforms will be accelerated in tune with the aspirations of people of India for rapid development, says Droupadi Murmu, President

The key to Sri Lanka's transition from stabilisation to full economic recovery is sustaining the ongoing reform momentum, the IMF said on Friday after it decided to release the third tranche of USD 336 million from the USD 2.9 billion four year bailout package to the island nation. While releasing the third tranche, the IMF on Thursday noted that Sri Lanka's economy has started recovering, inflation remained low, revenue collection was improving, and reserves continued to accumulate but warned that despite these positive developments, the economy is still vulnerable and the path to debt sustainability remains knife-edged. We encourage the (Sri Lankan) authorities to continue to build on these hard-won gains and remain steadfast with their reform commitments, Peter Breuer, the head of the Sri Lanka IMF mission, told reporters here on Friday. In April 2022, Sri Lanka declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial

Implementation of key strategic reforms such as simplification of customs duty structure, GST, and not incentivising low value-added electric vehicles would help India ensure its sustainable development and inclusive growth, GTRI said on Thursday. Economic think tank Global Trade Research Initiative (GTRI) also said that India is standing on the cusp of a transformative era and there is an urgent need for comprehensive economic reforms. "From simplifying the convoluted customs duty structure to pioneering regulatory sandboxes for cryptocurrencies, and from boosting the MSME sector through GST (Goods and Services Tax) reforms to fortifying our energy security, this agenda lays the foundation for a robust, resilient, and globally competitive India," it said. It said that the current basic customs duty structure, which affects USD 680 billion worth of imports, has not been reviewed in 20 years, leading to over 27 different duty rates and over 100 specific or mixed duty slabs. Currentl