GOI GOVERNMENT OF INDIA
India must reflect & implement essential reforms to strengthen the arbitration process
The recent finance ministry notification in India has raised concerns by discouraging automatic arbitration clauses in procurement contracts. The move aims to address the unsatisfactory experience of the Government of India (GoI) in arbitration and promote mediation or court resolution for disputes. This decision has sparked a debate on the effectiveness of alternative dispute resolution methods and their impact on business dealings, particularly with global companies.
GoI must focus on equitable growth and quality employment
The recent Annual Survey on Unincorporated Sector Enterprises (ASUSE) is a valuable source on informal enterprises provided by GoI that promises to tell us about these voters whose dreams lie unfulfilled. They have struggled in the world’s largest informal economy, India, in jobs without social protections and with lower pay.
Like EV-making moths to FAME 3
India is preparing for the launch of the third edition of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme, aiming to cater to the aspirations of an increasingly affluent and environmentally-conscious population. This initiative seeks to enhance the competitiveness of the auto sector while promoting sustainable practices in transportation. The new 'localisation' requirement, mandating certified levels of local sourcing in EV manufacturing, aims to broaden participation in the EV sector despite potential challenges.
It's time for GoI to expose biased global rankings & create honest indices in India
India's falling rankings in global indices, such as the Global Gender Gap index and Corruption Perceptions Index, raise concerns despite its rapid progress in digitalisation. The country's low rankings in various global indices, including the UN's e-Government Development Index and International Telecommunication Union's ICT Development Index, highlight a disconnect between its economic growth and global recognition.
"Interests of citizens of India are safeguarded by GoI": BJP's V Muraleedharan on Kerala Minister's visit to Kuwait
BJP leader V Muraleedharan has defended the decision of Kerala Health Minister Veena George to travel to Kuwait to coordinate the relief operation following a fire incident in Kuwait that killed 45 Indians, primarily from Kerala. Muraleedharan argued that the interests of Indian citizens living abroad are protected by the Indian government, and that the state minister's travel to a foreign country is unnecessary.
Now, here's an India plan
The path to a developed economy by 2047 needs to be sustainable and inclusive. Boosting rural consumption is an immediate requirement. But this can't come at the cost of a disconnected fiscal policy, which may create an untenable level of debt. Similarly, physical and digital infrastructure development needs to be addressed more consciously, keeping in mind broader societal needs and environmental challenges.
Witness to a sweating bandhgala ceremony
Making ministers sweat may show the nation that GoI means business. But a sweating cabinet with the bhavan's 12 Tuscan pillars looking on doth not a classical picture make. Usually used for ceremonial receptions of visiting heads of state and government, and for the 'change of guard' ceremony, those occasions usually take minutes, not over 2 hours.
Mandate 2024 is about making economic governance the new govt's centrepiece
Even though India is experiencing an 8.2% growth rate, the real political question is whether the people feel this growth. Opinions will vary, but the essential takeaway is that much more needs to be done, as indicated by the mandate in Lok Sabha elections.
View: GOI has the solution of India's economic puzzle but it needs to let go fiscal hesitations
India's economy is thriving with 8.2% GDP growth, strong public investment, and tax revenues. However, weak consumer demand and private capex remain issues. To boost growth, the government should create more public sector jobs, increasing incomes and consumption, funded by local savings.
Vodafone Idea shares jump 12% after CARE revises ratings upwards
Vodafone Idea shares experienced a significant surge of 12% intraday, reaching a high of 14.85 on the NSE on Wednesday. This uptick followed an announcement from rating agency CARE Ratings, which upgraded the company's Long Term Bank Facilities from B+ to BB+, with a stable outlook. Additionally, the Short Term Bank Facilities were upgraded from A4 to A4+.
Why should reforms now be a problem? Freebies, promised or delivered, didn’t work. Labour, trade, education & privatisation reforms await
Voters in the recent election have sent a clear message: they value responsible spending over freebies. At the national level, the NDA government, despite a reduced majority, was preferred over a challenger promising unattainable giveaways. Similarly, in Andhra Pradesh, the incumbent government, known for excessive freebies, faced a resounding defeat. The takeaway for future governments is to spend taxpayer money judiciously, prioritizing essential functions like infrastructure, education, health, and defence.
Reality behind the 8.2% FY24 GDP growth is not as robust
The 8.2% FY24 GDP growth reflects a modest deceleration from 3QFY24 at 8.6%. Real gross value added growth slowed considerably in 4QFY24 to 6.3% from 8.3% in 1QFY24.
View: Whichever way you cut it, the economy’s booming and is a welcome gift for the incoming government
The Indian economy is booming with a GDP growth of 8.2% for 2023-24, surpassing estimates. The National Statistics Office data highlights this growth despite challenges in sectors like manufacturing and agriculture.
RBI dividend will have economic dividends
RBI came into this windfall because of high interest rates in advanced economies, which may persist before an eventual cyclical inversion. The strength of India's recovery from the pandemic also contributed to the RBI surplus, and monetary policy would be inclined to pursue this course by easing interest rates ahead of the pack. Inflation is offering comfort on the demand side for an interest rate downcycle. Food inflation, less amenable to demand management, remains a concern.
How GoI’s post-poll domestic authority will shape New Delhi’s geopolitics
With India's key strategic partner Russia more firmly entrenched and aligned with China in 2024, the domestic political authority the next government in New Delhi brings to the table - and the way it deploys this capital - will hold the key to how it can position itself at the start of a turbulent phase between a relatively stronger, expanding Russia-China arc of power and a politically strife-ridden democratic coalition of powers.
Post-Covid capex pumps PSU muscles
A reappraisal of PSUs, however, could slow the longer trend of GoI getting out of business. And it needs to filter out the temporary effects of economic management. PSU banks are unlikely to retain their new-found health against private competitors for an extended period. Government capex, similarly, has a shelf life, after which private investment is expected to take over. That means companies borrowing from the cheapest lender, often from abroad, to build capacities. Neither consumption- nor investment-led growth assures a special place for PSUs. They will have to compete.
Disincentivise crop burning effectively
GoI directs states to withhold MSP benefits from stubble-burning farmers, following Supreme Court's disincentive recommendation. Strategies like in-situ residue management face challenges due to quick field-clearing through burning, slow implementation, and inadequate outreach to farmers.
Are Meta and GoI really tussling over encryption? Or are we watching covert mutualism at play?
Despite seemingly insurmountable issues, India continues to be WhatsApp's second-fastest growing market, and is regularly used by Meta to test-launch new services that it hopes to monetise, like WhatsApp Business API - arguably a future money-spinner as a customer relationship management (CRM) tool for SMEs - WhatsApp Flows and WhatsApp payments.
Implementers, arise!
Policy formulation and policy implementation happen at two very different levels. Formulation involves think tanks, academia and policymakers primarily working in GoI agencies. Implementation involves grassroots-level officials, and district-, municipal- and panchayat-level functionaries. Unfortunately, there is a huge gap in the levels of education, knowledge and understanding between both levels.
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