Explore Business Standard
India's world record beating economic growth rate together with robust tax revenues, a fast expanding digital and financial infrastructure and a strong manufacturing sector will give the new government a base for unleashing next generation reforms that may make the country a developed nation by 2047. The new government will however have to tackle with problems like unemployment and rural distress, which seemed to have played a major role in voting pattern in states like Uttar Pradesh, while also keeping inflation under control. Given that no party, including BJP, have a clear majority of its own, tough reforms like big ticket privatisation and labour law reforms may take a backseat. As per the available trends, BJP is likely to win about 240 seats in a 543- member Lok Sabha. It would have to rely on its allies like TDP and JDU to form the next government. The new government will have to build upon the 8.2 per cent GDP growth recorded in 2023-24 and carry on with the reforms to make
The Centre has approved an outlay of Rs 235 crore for a revamped scheme for administrative reforms to be implemented in the next two financial years in the the Department of Administrative Reforms and Public Grievances, an official statement issued on Thursday said. The scheme will take up ambitious next-generation administrative reforms matching with the new aspirations of 'Viksit Bharat', it said. This revamped scheme has two verticals -- administrative reforms and a comprehensive system for redressal of public grievances, said the statement issued by the Personnel Ministry. "The government has approved an outlay of Rs 235 cr for revamped scheme for administrative reforms of DARPG to be implemented in next two years (2024-25 and 2025-26 ) of the 15th Finance Commission cycle," it added. The scheme for administrative reforms with an allocation of Rs 107 crore seeks to utilise the resources for Prime Minister's awards for excellence in public administration for 2024-25 and 2025-26,
Stressing that the Insolvency and Bankruptcy Code, implemented in 2016, is a crucial milestone in the economic reforms, Prime Minister Narendra Modi on Saturday said that India, which used to be counted among the "Fragile Five" economies, is now being considered a bright spot in the global economy. The Prime Minister took note of the seminar, titled, 'Rejuvenation of Economy under Insolvency Laws' being organised by Insolvency & Professionals Council of India. In a signed message to Dr. Adish C Aggarwala, President of the International Council of Jurists, London, for the seminar, to be held in New Delhi on August 27, PM Modi acknowledged the need to make the insolvency regime "even better".Taking note of the initiative, Prime Minister Narendra Modi, added "It is particularly heartening to note that this seminar is being attended by many legal luminaries, domain experts and other stakeholders".The Prime Minister said he was sure that the deliberations at the seminar "will prove ..
The UN Security Council in its current structure is perverse and immoral, a perpetuation of the colonisation project and does not reflect the rise of new powers and shifting geopolitical landscape, envoys and policy experts said here, asserting that the time for reform is now and status quo is untenable. Speaking at a Roundtable on Security Council Reform at the UN headquarters hosted by the Permanent Missions of Brazil, India, South Africa and Saint Vincent and the Grenadines here on Thursday, India's Permanent Representative to the UN Ambassador Kamboj said, The current composition of the Security Council no longer aligns with the realities of our interconnected and multi-polar world." "The Council structure, designed in a different era, does not reflect the rise of new powers, the shifting geopolitical landscape and the aspirations of nations striving for a fairer and more equitable global order, she said. The roundtable was held with the aim to bring in the perspective of the ..
The United Nations Security Council reforms is like a "hard nut", but hard nuts can be cracked, External Affairs Minister S Jaishankar said here on Tuesday as he cautioned that the world body will become "irrelevant" without much-delayed reforms. Jaishankar made the remarks while responding to questions after his address at the Lowy Institute on the growing importance of India's relationship with Australia and the interests that both countries share as members of the security-focused Quad. "Well, it's a hard nut but hard nuts can be cracked," Jaishankar said while responding to a question on UN Security Council reforms. Jaishankar said that there are continents which actually feel that the Security Council process does not take into account that into their problems. "I think that's hugely damaging to the UN. So one of the developments this time, in fact, has been a very explicit recognition by President Joe Biden of the need to actually reform the UN which is not a small developmen