It is crucial to critique the Economically Weaker Section (EWS) reservation scheme for what it intends to do—push out caste-based reservations and replace them with economic criteria. But one should approach this not the way BJP expects one to do it. There has been much-needed critique and large-scale reaction to how EWS questions settled Constitutional provisions for Social Justice, but there are other essential issues one needs to raise about the EWS that have gone missing.
If the Indian economy has an Achilles’ heel, it is the country’s manufacturing sector. Despite rapid economic growth since pro-market reforms began in 1991, the share of manufacturing in India’s gross domestic product has remained stubbornly low, at about 15 per cent. (In China, it has been about 30 per cent in recent years.) Indian growth has been driven by services, most famously in information technology.
India’s decision to focus on balanced economic agreements, which include a wide set of areas and not just merchandise trade, with key economic and strategic partners reflects India’s much stronger geoeconomic and geostrategic position and confidence in its ability to pursue India’s national interests. India is carefully choosing its partners for economic agreements (the media description of them as free trade agreements is misleading and inaccurate and reflects old thinking).
This column examines India’s total nominal debt to nominal GDP ratio in the first quarter of 2022 from various segments from an international perspective. The debt analysis is not confined to the general government sector debt, as is often the case, but also includes household and corporate sector debt.
As the world welcomes the landmark of 8 billion persons, it may be useful to examine India’s demographic profile and select policy implications. Demographic trends affect every aspect of the economy, finance, society, and politics. Indeed, analysts have observed that demographics is to economics what gravity is to physics. Therefore, a thorough understanding of emerging demographic trends for sound policies cannot be overemphasized.
Public-Private Partnerships (PPPs) describe a government infrastructure and or service or private business venture funded and operated through a partnership between one or more governments, one or more private sector companies and civil service organizations. These could be at any level of government and cover the construction, operations, and maintenance phases.