GOVT REFORMS
Budget 2024: Govt may tweak laws to push banking sector reforms in Budget session
The govt plans to introduce amendments to various banking laws during the Budget session to facilitate banking sector reforms, including privatisation of public sector banks. These amendments aim to decrease government holding in state-owned banks, enhance governance, and protect investors. The upcoming session, starting on July 22, will address these crucial changes.
Modi-led NDA govt should focus on raising farm productivity and improving supply chain: Ashima Goyal
Ashima Goyal emphasised that capacity needs to expand in health, education, environment, courts, policing as well as in infrastructure. "Rising agricultural productivity and strong supply chains are necessary to reduce volatility in food prices," she said, adding that many of these require good coordination with the states.
Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
UGC's role on pushing pen-paper exams now under the lens of govt and reform panel
Recent UGC decisions challenge NTA's digital exam quality as paper leaks and exam mode debates persist, raising concerns over the integrity of exams and the impact on candidates.
Govt committed to bringing more reforms: Amit Shah
Union Home Minister Amit Shah praised PM Narendra Modi for introducing GST, leading to lower prices of household items. The NDA govt aims to implement more reforms for citizen welfare.
Govt widens composition of drug, medical devices pricing reforms panel
The government has expanded a committee to look into pricing reforms for drugs and medical devices, including civil rights activists like All India Drug Action Network (AIDAN), Patient Safety and Access Initiative of India Foundation, and Medecins Sans Frontieres (MSF). The committee will evaluate availability and pricing of essential medicines, incentivize industry growth and exports, and consider a new Drug (Prices Control) Order (DPCO) as the current one is over a decade old.
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NEET-UG result uproar: Big shake-up looms for NTA amid backlash over exam results
Amid ongoing controversy over the NEET-UG medical entrance exam, significant changes are anticipated within the National Testing Agency (NTA). The agency's operations and exam management are under review, with a high-level committee potentially being formed to provide recommendations, according to government sources cited by The Times of India.
ETMarkets Smart Talk: Rural consumption could top priority in Modi 3.0’s final Budget in July: Vinay Jaising
The BJP led NDA alliance is confident of forming the government for the third time consecutively which has not happened in India since 1962 when the Nehru led Congress was in Power; and an extremely spectacular event.
CII wants Modi 3.0 govt to push land, labour, agri reforms to boost growth
Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII President Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket".
Twenty-eight ministers of new Modi govt have declared criminal cases: ADR
28 ministers in the third Narendra Modi government have criminal cases, with 19 facing serious charges such as attempted murder, crimes against women, and hate speech, according to the Association of Democratic Reforms.
Look forward to bolder reforms: India Inc on Modi govt 3.0
Narendra Modi was sworn in as Prime Minister at the Rashtrapati Bhavan, becoming only the second PM after Jawaharlal Nehru to secure a third consecutive term.
Modi-led NDA govt must tackle unemployment problem, especially in unorganised sector: Rajiv Kumar
Former NITI Aayog Vice Chairman Rajiv Kumar emphasized that the Modi government's third term must address unemployment, particularly in the unorganized sector and SMEs. He highlighted the need to finalize the delayed four labor codes and recognized the K-shaped economic recovery post-COVID. Large corporations and highly skilled individuals have prospered, while lower-end workers and SMEs struggle.
ETMarkets Smart Talk: Roads, railways, and defence should be in focus in Budget session of Modi 3.0
The sharp 6% fall in markets was a result of people expecting for a BJP majority based on the exit polls, with the actual results turning out to be a black swan event.
Investment returns during coalition govt: Modi 3.0 might be good for stock market, mutual fund investors, show trends during previous govts
How will be Modi 3.0 for investments? The stock market experienced a sharp decline following the Lok Sabha elections 2024, causing concern among young investors. They are worried about their investments as a coalition National Democratic Alliance (NDA) government prepares to take oath on June 9, 2024. Will the volatility in the stock market continue? How will NDA-3.0 be for your hard-earned money? Is there a bad government for your investments? Should the incoming government worry debt investors? Should you invest in equities, mutual funds or debt instruments? Questions such as these are worrying investors. So here are some answers that should give an idea of what is in store for you in the next five years.
What happens to India's startups with a coalition government at the Centre? Here is what they want
As a new coalition government gears up, startups call for clearer regulations, simpler relocation processes to India, and a more straightforward legal framework. Tax department's approach, including issues like angel tax and GST notices, concerns the industry. Simplified registration, advocated by Perfios CEO, could boost startups. Fintech sector seeks tiered MDR for UPI.
ETMarkets Smart Talk: Housing, building material & related sector might be a dark horse in Modi 3.0
Whether the thrust on railway, defence & environment for capex would pan is not clear at this point, and markets hate uncertainty & de-rating happens when growth is not certain
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
Lok Sabha Results: Will a fractured mandate for NDA impede new govt's infra and capex push?
The 2024 Lok Sabha elections deliver a fractured mandate, influencing economic reform outlook. Experts recommend focusing on public capex and high-tech sectors for growth. Tanvee Gupta Jain predicts fiscal leeway for populist spending, supported by progress in implementing labor laws.
Modi govt's fiscal consolidation pace post-Covid worse than peers? Moody's report flags weaker fiscal, debt metrics
Moody's rating agency has pointed out that India's fiscal consolidation following the Covid-19 pandemic has lagged behind when compared to its peers. This includes several emerging markets in the Asia-Pacific region.
New govt to inherit strong economy, focus on making India developed nation by 2047
India's record-breaking economic growth rate and strong tax revenues provide a foundation for future reforms aimed at transforming the country into a developed nation by 2047. The new government must address challenges such as unemployment and rural distress, while also focusing on controlling inflation. Despite potential obstacles, experts expect continued infrastructure-led growth, investor-friendly policies, and reforms to maintain India's economic momentum and attract investment.
Modi govt turned around banking sector, over Rs 10 lakh crore bad loans recovered in 10 years: Nirmala Sitharaman
Finance minister Nirmala Sitharaman highlighted the Modi government's success in the banking sector, recovering over Rs 10 lakh crore from bad loans. The Enforcement Directorate investigated 1,105 bank fraud cases, attaching proceeds worth Rs 64,920 crore.
'Have delivered on 2019 promise of putting corrupt behind bars, our govt leveraged technology to tackle corruption': PM Modi
Prime Minister Narendra Modi, currently vying for a third consecutive term, reaffirms his 2019 pledge to incarcerate corrupt individuals, asserting that he has fulfilled this promise. In an extensive discussion with ET, PM Modi addressed various topics. He reiterates the government's dedication to ensuring that the benefits of progress extend to all individuals in need, irrespective of their caste, creed, or geographical location.
Create joint culture: CDS Gen Chauhan to armed forces as govt looks at rolling out theatre commands
Chief of Defence Staff Gen Anil Chauhan emphasized the significance of theatre commands, marking a milestone in India's military preparedness and warfighting capabilities. He urged the armed forces to foster a joint culture and embrace "jointness 2.0", aiming for integrated operations and optimal resource utilization amidst evolving security challenges.
Expect good response on EV policy, FDI reforms in new govt; prepare for low tariff regime: DPIIT Secretary
India anticipates a positive response from numerous automobile companies to its electric vehicle (EV) policy, according to Rajesh Kumar Singh, DPIIT secretary. He noted that the government has adjusted tariffs to attract manufacturers without direct spending. Additionally, he stated that India might further liberalize FDI norms in select areas under the new government.
Downsides of coalition govt are as exaggerated as virtues of single-party rule
Most people equate a government by a single party that enjoys a majority in Parliament with political stability, efficient decision-making and living happily ever after. In this view, coalitions carry the risk of instability, erratic policy and economic woes. India's own recent history shows that such views are unfounded.
Govt expands committee for drug and medical device pricing reforms, includes more industry representation
The government has expanded a committee to include more industry representation for reviewing drug and medical device pricing reforms. This move aims to ensure better availability of medicines and devices, while also providing incentives for industry growth and export sustainability. The committee will engage with industry experts and associations to evaluate pricing and availability issues. Ultimately, the government will make the final decisions, with the committee focusing on balancing pricing and availability of essential medicines and designing a price moderation framework for medical devices.
Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub: New govt's economic agenda for 100 days
The cabinet secretary has convened a meeting on Friday with officials from key economic ministries to outline the economic agenda for the initial 100 days of the incoming government following the general election. Discussions may encompass streamlining the goods and services tax (GST) rate structure, amendments to the Insolvency and Bankruptcy Code (IBC), and immediate economic challenges.
Govt's JIT plan for cash flows may trigger reset of liquidity variable
Indian lenders adapt to JIT tool with SNA 'SPARSH' for timely fund releases, impacting liquidity in state schemes. RBI utilizes e-Kuber for payments, potentially affecting 24x7 banking demands.
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