Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation's (BIMSTEC) journey since 1997 is reminiscent of many shared collective memories. Not only energetic engagements, the BIMSTEC activities underscored the benefits of staying together.
The official GDP growth data hides the reality of tepid growth and a decline in good employment.
The Reserve Bank of India’s (RBI) announcement of withdrawal from circulation of the ₹2,000 currency notes has caused much incredulity. Tamil Nadu Chief Minister M.K. Stalin quipped, “500 doubts, 1,000 mysteries and 2,000 blunders”, and Rajya Sabha member P. Chidambaram said, “Demonetisation has come full circle”. The Union government has distanced itself from the decision by letting the RBI announce it.
Ten years ago, when then-prime ministerial candidate Narendra Modi promised India bullet trains, he probably did not bargain for the system's resistance to high speed. The journey from an average speed of 60 kmph to a bullet speed of over 300 kmph would take longer than expected. It required an entirely new state-of-the-art infrastructure and a new mindset. However, that did not dissuade the pragmatic Modi as PM Modi from bringing greater speed to the railways by introducing the Vande Bharat trains that run at 120 kmph.
New India’s Economic Transformation and Union Budget 2023-24 | Panel Discussion | #EconDialogue #IMPRI Center for the Study of Finance and Economics (CSFE), IMPRI Impact and Policy Research Institute, New Delhi invites you to an IMPRI #WebPolicyTalk series: The State…
The Union Budget 2023-24 is expected to be a barometer for the Central Government’s policy commitments toward the conservation of the environment and sustainable development. The public policy challenge for the government is how to strike a balance between economic growth and sustainable development, which are at variance due to the onslaught of climate change and its increasing economic costs. On the one hand, the government wants to achieve a $ 5 trillion economy by 2025 and $26 trillion by 2047; on the other, it has set a target of net-zero emissions by 2070. A balanced Budget that intertwines economic growth with inclusive and sustainable development for restoring the ecosystems is needed.
Focus has to shift from the automated large scale sector, to promotion of the rural economy and the small and micro sectors.
The Union Budget 2023-24 is around the corner. A budget is expected to identify the issues facing the economy and society and try to provide solutions to them. This may involve continuing policies or changing them. The budget represents the priorities of the government – what gets more allocation and what gets less. Changes in priorities take time to show any impact, so many analysts say that budgets do not make a difference. But, given that the budget is the largest single economic event, it matters even if priorities remain unchanged.