Page 2 - Economic Reforms

India's stock market value to reach $10 trillion by 2030, says Jefferies

The nation's market, currently the world's fifth largest at $4.5 trillion, briefly overtook Hong Kong last month. Still, its weight in global stock indexes is below 2%

Reforms in last 10 yrs are foundation of growth over next decade: Jefferies

Strong reform measures initiated by the Prime Minister Narendra Modi-led government in the last ten years have laid the foundation of a solid economic growth in coming decades, Jefferies Equity Research outlook said. It also said that India would become the third largest economy by 2027 and expected to achieve a market capitalization of USD 10 trillion by 2030. "With a consistent history of 10-12 pe cent CAGR (compound annual growth rate) over the last 10 and 20 years, India is now the fifth largest equity market and market cap will likely to touch USD 10 trillion by 2030," the report said. It added that continued reforms should maintain India's status of being the fastest growing large economy. Over the last 10 years, India's GDP has grown by 7 per cent CAGR in USD terms to USD 3.6 trillion, jumping from the eighth largest to the fifth largest economy. "Over the next 4 years, India's GDP will likely touch USD 5 trillion making it the third largest economy by 2027, overtaking Japa

Best of BS Opinion: External exposure, Growth sans big bang reforms & more

Here is the best of Business Standard's opinion pieces for today

Growth sans 'big bang' reforms

India's economic resilience shows incremental reforms are more effective

Economic reforms implemented 'despite the odds', says FM Sitharaman

Rating agencies must take note of the country's transparent fiscal consolidation path, FM says

Evaluating the Indian economy's resilience

A growth trajectory of 6.5 to 7.5 %, centred around 7 %, is reasonable in the coming years, barring the eventuality of simultaneous external shocks

Palliatives, not solutions: When politicians hide failures under largesse

Voters have learnt to look for what they can get today, not tomorrow, and seem to choose parties offering the most generous packages - which encourages a rush to raid the treasury - notes T N Ninan

FATF removes offshore tax haven Cayman Islands from its 'grey list'

In its review published on October 27, FATF has added Bulgaria to the grey list

India will be the world's third largest economy by 2030, says VP Dhankhar

Vice President Jagdeep Dhankhar on Friday said India will go past Japan and Germany to become the third largest economy in the world by 2030. Addressing the closing ceremony of the 'Country-led Initiative' organised under the United Forum on Forests (UNFF) here, the vice president said India was among the "Fragile Five" two decades back, but it has now become the fifth-largest economy in the world. In 2022, India went past Britain and France to become the fifth-largest economy in the world, he said, adding that there are full indications that by the end of the decade, it will take the third spot. Dhankhar said international organisations such as the International Monetary Fund have called India a"shining destination" in terms of investment and opportunities. He said that India's digital transactions are four times that of the US, UK, France and Germany. The vice president added that per capita internet data usage in India is also more than the total data consumption of the US and .

India, Sri Lanka embarking on new chapter in diplomatic, economic ties: PM

India and Sri Lanka are embarking on a new chapter in diplomatic and economic relations, Prime Minister Narendra Modi said on Saturday as he hailed the launch of a ferry service between the two nations as an "important milestone" in strengthening ties. Addressing the event to launch ferry services between Nagapattinam in India and Kankesanthurai in Sri Lanka, via a video message, Modi said the ferry service brings alive all historical and cultural connections. "Connectivity is not only about bringing two cities closer. It also brings our countries closer, our people closer and our hearts closer," he said. The prime minister said India and Sri Lanka are embarking on a "new chapter in diplomatic and economic relations" and the launch of a ferry service between Nagapattinam and Kankesanthurai is an "important milestone" in strengthening the relations. Underlining the shared history of culture, commerce and civilisation between India and Sri Lanka, the prime minister pointed out that .

Eco survey 2023: Bright prospects under dark clouds with silver linings

The Economic Survey outlines the underlying framework of reforms in India centred on ease of doing business and ease of living

Budget may not be right time to restructure capital gains tax: Revenue secy

There's no need for having so many buckets under the capital gains tax structure or so many different permutations and combinations, says Tarun Bajaj

UK Treasury chief delays detailing new economic plans until Nov 17

UK Treasury Chief Jeremy Hunt has delayed a statement on the country's economic affairs until November 17, only a day after the new prime minister took office. Hunt told the BBC says that a two and half week delay will ensure the right decisions are taken. The statement was originally set to be announced on October 31. The Treasury says in a tweet that new Prime Minister Rishi Sunak and Hunt have agreed that the statement will include a forecast from the independent Office of Budget Responsibility. It will contain the UK's medium term fiscal plan to put public spending on a sustainable footing, get debt falling & restore stability," the Treasury said on Twitter.

World Bank advises Pakistan to take internal steps for economic recovery

World Bank Vice President for South Asia, Martin Raiser advised Pakistan to take internal measures along with help from the international community to recover from the cataclysmic floods

UK PM Liz Truss faces test in Parliament over economic plan, seeks lifeline

British Prime Minister Liz Truss faces a House of Commons grilling Wednesday from a hostile opposition and her own furious Conservative Party as she tries to fend off calls to quit over her botched economic plan. Truss is set to attend the weekly Prime Minister's Questions session two days after newly appointed Treasury chief Jeremy Hunt ripped up the tax-cutting package unveiled by the prime minister's new government less than a month ago. The package of unfunded tax cuts announced Sept. 23 sparked turmoil on financial markets, hammered the value of the pound and increased the cost of U.K. government borrowing. The Bank of England was forced to intervene to prevent the crisis spreading to the wider economy and putting pensions at risk. Under intense political and economic pressure, Truss last week fired her ally Kwasi Kwarteng as Treasury chief, replacing him with Cabinet veteran Hunt. On Monday Hunt scrapped almost all of Truss' tax cuts, along with her flagship energy policy an

India has set global benchmarks; economic revival on sustained path: FM

Union Finance Minister Nirmala Sitharaman said that India is setting the global benchmarks on the digital front and that it will be able to face geopolitical and economic uncertainties

India to soon emerge as pillar of global economic revival: Piyush Goyal

Union Minister Piyush Goyal on Thursday said India will be the pillar of the global economic revival as it exhibited steady growth and emerged as the fastest-growing country among large economies of the world. Addressing the Bengal Chamber of Commerce and Industry's annual general meeting virtually, he said if all stakeholders of the economy work together with a sense of 'Kartavya bhav' (spirit of duty), the national goal of USD 30-trillion economy will be achieved by 2047, the year when the country will celebrate 100th anniversary of its independence. "India is already the fifth largest economy in the world and is turbocharging its growth to become the third largest in the coming years. The prime minister's vision is to make India a developed nation by 2047 with an economy size of USD 30 trillion as we will celebrate our 100th independence in that year," Goyal, the commerce and industry minister, said. All sectors such as agriculture, manufacturing and construction are doing quite

India on track to attract $100 bn FDI this fiscal on back of reforms: Govt

India is on track to attract USD 100 billion foreign direct investment (FDI) in the current fiscal on account of economic reforms and ease of doing business, the government said on Saturday. In 2021-22, the country received the "highest ever" foreign inflows of USD 83.6 billion. "This FDI has come from 101 countries, and invested across 31 union territories and states and 57 sectors in the country. On the back of economic reforms and Ease of Doing Business in recent years, India is on track to attract USD 100 billion FDI in the current FY (financial year," the commerce and industry ministry said in a statement. It said that to attract foreign investments, the government has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route. The reform measures include liberalization of guidelines and regulations, in order to reduce unnecessary compliance burden, bring down cost and enhance the ease of doing business in India, it added. FDI

Focus on fundamental rights makes India stronger, not weaker

Yielding to rights-based politics makes democracy more stable. It furthers its legitimisation with the masses and situates its actions in the context of constitutionality.

Reforms, economy and stock market

It is interesting that investors in the stock market are often not overly concerned with reforms for credible returns