Page 4 - Economists

China has $3 trillion of 'hidden' currency reserves, says US economist

A lot of the country's foreign-exchange reserves don't show up in the official books of the People's Bank of China, the former US trade and Treasury official wrote in a report

India's current account balance likely turned to surplus in Jan-March: Poll

The latest survey of 22 economists showed the current account balance likely recorded a surplus of $3.3 billion, or 0.4% of gross domestic product (GDP), in the last quarter of the 2022/23 fiscal year

Adam Smith's enduring legacy

In the tercentenary of the father of economics, it is worth exploring the impact and relevance of his ideas on economics in today's world

US AAA credit rating may be downgraded by Fitch on debt-limit impasse

Economists project a US default could trigger a recession, with widespread job losses and a surge in borrowing costs

Economists, health experts pitch for higher taxes on tobacco products

Economists and public health experts have welcomed the duty hike on cigarettes in this year's budget and pitched for higher taxes on more tobacco products to make them unaffordable and India tobacco-free in "Amrit Kaal". The hike in national calamity contingent duty on cigarettes by 16 per cent clearly shows the government's intent to further strengthen the tobacco control policy and levy higher tax on "sin" products that claim more than 13 lakh lives in the country every year, noted economist and BJP spokesperson Gopal Krishna Agarwal said. Participating in a discussion on "Amrit Kaal: A Journey towards Tobacco-Free India", organised by Tobacco Free India, a citizen group platform, Agarwal said a hike in prices on such harmful products through tax policy is the most effective way to reduce tobacco consumption. "This can be done by implementing 'triple A' concept: cutting down 'affordability' and 'availability' of tobacco items by hiking tax while making people 'aware' of its harmfu

India on cusp of returning to high-growth trajectory: Arvind Panagariya

Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world's third-largest economy by 2027-28. Currently, India is the fifth largest economy so it's another five years. We are already in (the year) 2023. So 2027-28, India should be the third-largest economy, Panagariya, Columbia University Professor and former Vice Chairman of NITI Aayog, told PTI in an interview here. A day before Finance Minister Nirmala Sitharaman presented the Union Budget on Wednesday, the Economic Survey tabled in Parliament pegged India's GDP growth at 6.5 per cent in 2023-24. The International Monetary Fund's World Economic Outlook update Tuesday said growth in India is set to "decline from 6.8 per cent in 2022 to 6.1 per cent in 2023 before picking up to 6.8 per cent in 2024, with resilient domestic demand despite external headwinds. Last week, the UN said in its flagship World Economic Situation an

India's FY24 gross borrowing could be less than expected: Economists

There are chances of the central bank paying the government a higher dividend, which could allow for a surprise at the budget presentation on Feb 1

Big states lag on capital expenditure front despite Centre's support

Economists say many poll-bound states chose to focus on scheme and subsidy spending

PM Modi to meet economists at NITI Aayog today ahead of Union Budget

Prime Minister Narendra Modi is scheduled to hold a meeting with economists at NITI Aayog on Friday, sources said

Trust has to be built among people of different religions: Amartya Sen

Noted economist and Nobel laureate Amartya Sen has said that there is a need to "build trust" to overcome "terrible misunderstandings" among people of different religions. Sen, who was in Kolkata to attend a private function organised for school children by his trust -- Pratichi -- also said that "ignorance and illiteracy" have led to some of these differences. "We live in a world where terrible misunderstandings are very common between religions... We have all kinds of differences. Some of the differences come from illiteracy and ignorance," Sen said, speaking at the event arranged by 'Pratichi Trust' in collaboration with another organisation, 'Know Your Neighbour'. "(There is a) need for building trust. If a Muslim gentleman takes a different view, we need to ask the question, why is he taking a different view?" Sen said. The economist, to put across his point that views may differ from one person to another, referred to an incident when he had taken his daughter Antara for a ..

India's FY24 growth to dip to 5.5% from 6.8% in FY23, says HSBC economist

India's economy is expected to grow 5.5% in the next financial year, a notch below the expected potential rate of 6%, as growth momentum in the country was slowing gradually, an economist at HSBC said

Economists urge hike in tobacco tax for reaching PM's $5 trn economy vision

A substantial hike in tax on all tobacco items and stronger laws will not only bring the best out of human capital by ensuring better health of citizens, but also help in achieving Prime Minister Narendra Modi's vision of a five trillion dollar economy by 2025, experts have asserted. Noting that the health care burden due to tobacco consumption in India is around 1.04 per cent of GDP, pushing many into poverty, Arvind Mohan, Professor and Head, Department of Economics, University of Lucknow said a substantial increase in tax on these lethal items will close the gap. Speaking at a webinar, he echoed views of the World Health Organisation (WHO) as well as many other international bodies like World Bank that tobacco taxation is an efficient tool, reducing tobacco consumption faster than any other single measure. Mohan explained that presently, health is a big challenge for human development as at least 70 per cent of the health expenditure is being met by the public themselves, while .

BS BFSI Insight Summit 2022: Leading economists to discuss recession fears

From Aditi Nayar the Chief Economist at ICRA to Mridul Saggar, professor of practice, IIM Kozhikode; formerly MPC Member and RBI ED, here is the full list of economists on BFSI panel

Memoirs of an economic savant

C Rangarajan's book is a superb record of the economic history of the initial years of reform

Janet Yellen: For the people

Two recent biographies offer insights into the life and work of the US Treasury Secretary. One is a tad more absorbing than the other

Yoginder K Alagh (1939-2022): An exceptionally generous economist departs

Born in pre-independence India, Alagh has left behind a rich legacy in the world of economic policymaking

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Budget 2023-24: Stay on fiscal glide path, economists advise FM Sitharaman

The Finance Ministry was also urged to continue with long term loans to states to support their capex programs, and give them more leeway to spend, in order to boost growth

GDP growth may have beaten MPC estimate of 6.3% in Q2, say most economists

The GDP numbers for the second quarter of the current financial year are scheduled to be out by this month end

China's services activity drops as Covid-19 lockdowns curb spending

The data is further evidence of the toll China's Covid Zero strategy is taking on consumer spending and the economy.