NITI AAYOG CHAIRMAN
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.
Security & legal proposals to now come under Niti
Niti Aayog, under Major General K Narayanan, to focus on security and law proposals. Reconstitution aligns with government's emphasis on security and legal matters.
Leather exporters seek national policy to attract investments, create jobs, boost shipments
CLE Executive Director R Selvam said that the sector needs a national policy as it is a labour-intensive sector, which employs about 4.4 million, with over 85 per cent women.
Incentivise states to generate local resources to fight climate challenges: NITI Aayog VC Suman Bery
"Multilateral development banks have a long way to go to improve the processes and procedures to be able to address the daunting challenge of seeking to meet financing needs of an orderly transition to be able to address the challenges of climate financing," NITI Aayog vice-chairman Suman Bery said.
Centre should start incentive scheme for states to mobilise resources at local level: Niti Aayog VC
The central government should come up with an incentive scheme on the recommendation of the Finance Commission for states to mobilise resources at the local level, Niti Aayog vice chairman Suman Bery said on Friday. Addressing the captains of the Indian industry at a CII Annual Business Summit, Bery said there is not enough pressure on either cities or states to generate non-tax revenue.
Rating Agencies need to relook at India’s credit ratings: NK Singh
NK Singh, chairman of the 15th Finance Commission, highlighted the prejudice and bias affecting India's credit rating, calling for a reassessment by credit rating agencies. During a session on climate financing at the Confederation of Indian Industry’s Annual Business Summit 2024, Singh emphasized India's strong debt repayment history. He also outlined the need for $5 trillion in climate financing, with contributions from multilateral development banks, private capital, and domestic resources. Singh stressed the necessity for reforms in the global financial architecture to meet climate financing challenges.
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DGFT conducting study to identify and align best global practices in trade finance
The Directorate General of Foreign Trade (DGFT) is exploring global trade finance practices to align with India's future needs. Over 2.5 lakh bank realisation certificates (BRCs) have been self-generated under the revamped eBRC system, boosting ease of doing business. Stakeholders emphasize the importance of data flow in export credit and aim to enhance the trade finance ecosystem in India.
Caught in a maize: In India’s ethanol blending ambitions, eggs are an unlikely casualty
The government wants to use maize to cut its fuel import bill. While this has strategic advantages, it puts a question over egg production — a source of nutrition for many Indians.
Greater Noida authority to offer upto 40% rebate on pending dues of builders to revive stalled projects
The Greater Noida Authority has proposed a one-time settlement scheme offering up to a 40% discount on pending dues of builders. The rebate applies to outstanding dues until March 31, 2023, with a 40% discount for payments made by January 31, 2024. Payments by February 29 and March 31, 2024, will attract 30% and 20% discounts, respectively.
India to be a developed nation by 2047? Here's what some experts believe
The report "India’s Turn to Lead by 2047" by Primus Partners indicates that 70% of respondents are optimistic about India becoming a global leader by 2047, aligning with the vision of Viksit Bharat. This sentiment extends to 63% envisioning India excelling in global trade, technology, and the economy.
Govt to set up high-powered committee to consider challenges of population growth, demographic change: FM
In her Interim Budget speech on Thursday, FM said the committee will be mandated to make recommendations for addressing these challenges comprehensively in relation to the goal of ‘Viksit Bharat’
President appoints four full time members of 16th finance commission
The four full time members appointed by the president are former expenditure secretary A N Jha, former special secretary of the department of expenditure Annie George Mathew, executive director of Artha Global Niranjan Rajadhyaksha and group chief economic advisor, State Bank of India Soumya Kanti Ghosh, the centre said in a notification issued late Tuesday.
Seven developers in Noida agree to pay 25% dues as part of new policy to revive stuck projects
Property developers are estimated to owe as much as Rs 40,000 crore to the Noida, Greater Noida, and Yamuna Expressway authorities, including premiums, interest, and penal interest against allotted plots on which realty projects are currently in different stages of execution.
Arvind Panagariya to chair 16th Finance Commission
The centre has appointed Arvind Panagariya, former Vice-Chairman of Niti Aayog, to head the 16th Finance Commission. Ritwik R Pandey will be the secretary of the commission, while the names of other members will be notified separately, the government said in a gazette notification issued Sunday.
Former NITI Aayog VC Arvind Panagariya to head Finance Commission
Arvind Panagariya, former vice chairman of the NITI Aayog, has been appointed as the Chairman of the Finance Commission in India. Panagariya, an economics professor at Columbia University, was appointed to the policy think tank in 2015 and has held positions with the World Bank, IMF, and WTO. The Finance Commission will make recommendations for five years starting April 1, 2026.
Noida, Greater Noida authority paves way to restart stuck housing projects
According to the approved proposal, builder taking benefit of the policy won’t be able to charge any amount from the buyer so that the benefit provided by the government reaches to the homebuyer. An independent chartered accountant or third party will recalculate the dues of the builder. In addition, no charges will be levied for giving three years of extension to the builder.
UP government issues guideline for revival of stuck projects
The state government has said that builder taking benefit of the policy won’t be able to charge any amount from the buyer so that the benefit provided by the government reaches to the homebuyer. UP cabinet on Tuesday gave approval to recommendations of a committee chaired by former NITI Aayog chairman and India’s G20 Sherpa Amitabh Kant, which is expected to infuse new life into more than 200,000 stalled flats in Noida, Greater Noida, and the Yamuna Expressway region, said property developers and industry experts.
NITI Aayog bats for structural reforms of MDBs
In its report on A Green and Sustainable Growth Agenda, the Aayog calls for regulating the role of credit rating agencies to ensure fair assessments for emerging countries and reforming the multilateral development banks (MDBs) for effective mobilisation of funds for developing nations.
India a labour-rich country with enough institutional maturity; can register 8 pc growth: Niti VC Suman Berry
"So, 8 per cent growth or something approximating that means continuous change that needs to be politically managed," he said while addressing the Global Economic Policy Forum 2023, organised by the Confederation of Indian Industry (CII) and the finance ministry.
India’s growth will be distinctive, disruptive and responsible: NITI Aayog’s VC
Addressing the CII Global Economic Policy Forum 2023, NITI Aayog vice chairman Suman Bery said India being a labour-rich country with enough institutional maturity can get to 8% growth but the fact that the north of India has not been traditionally doing as well as the south of India can create tensions in a federal polity.
Lenders facing known and unknown challenges, need agile responses: Bank chiefs
HSBC India CEO Hitendra Dave said though technology has made banking easier, the risks are sometimes unknown. He cited the example of the ransomware attack on the world's largest lender by assets Industrial and Commercial Bank of China (ICBC) earlier this month which forced the bank to re-route trades using spreadsheets stored on portable drives and accessing the internet using dongles.
Niti Aayog's VK Paul urges for more quality healthcare from private sector
"Commitment to primary healthcare is strong and I look forward to the opportunity on to go in that direction. We are looking forward to a bigger partnership in secondary and tertiary care," Paul said. He also informed that India's doctor-population ratio is better than the World Health Organization's (WHO) benchmark of one doctor per thousand.
NITI Aayog initiates study to develop action plan to bridge India's trade deficit with China
India's government think tank, NITI Aayog, has started a study to develop a plan to reduce India's trade deficit with China and align trading strategies with geopolitical risks. The study will analyze India-China trade trends, supply chains, and product categories where India has a competitive advantage. It will also examine barriers to Indian exports and recommend measures to attract global supply chains to India.
Multi-lateral action needed to curb high prevalence of anaemia in India: Experts
A roundtable discussion was held to launch the "Movement Against Anaemia" campaign in India. Experts emphasized the need for comprehensive action to address the high prevalence of anaemia in the country. Anaemia is a major challenge in chronic kidney disease, affecting 70% of kidney patients. The campaign aims to create awareness and develop solutions to overcome anaemia, in line with the government's vision of an "Anaemia-Mukt Bharat" (anaemia-free India). Iron deficiency is a major contributor to anaemia, with 70% of patients suffering from it.
Agriculture’s share in global economy up: Ramesh Chand
“The agricultural sector’s contribution to global GDP has increased from 3.2% in 2006 to 4.3% in 2021 while the growth rate in manufacturing and non-agricultural sectors has slowed even in the developing countries,” Ramesh Chand said while speaking at the inaugural session of Kautaliya Economic Conclave 2023 on Friday.
Principal secretary to PM reviews progress in implementation of G20 New Delhi Leaders' Declaration
The principal secretary to the prime minister, P K Mishra, chaired a meeting to review preparations for the G20 Virtual Summit and the Voice of Global South Summit 2.0. Progress in implementing the G20 New Delhi Leaders' Declaration was also discussed. Mishra announced the establishment of a high-level monitoring mechanism to oversee its implementation.
India to clock GDP growth of 6.5 pc in FY24: Former NITI Aayog Vice Chairman Rajiv Kumar
Former NITI Aayog Vice Chairman Rajiv Kumar predicts that the Indian economy will grow at around 6.5% in the current fiscal year due to the reforms implemented by the government. He believes that India needs to achieve 8% economic growth to meet the aspirations of its young population and generate sufficient jobs. Kumar also highlights the positive macroeconomic situation, including manageable current account deficit, sufficient foreign exchange reserves, and increased tax revenues.
Onus on private sector to lead country on sustainable growth trajectory: NITI Aayog’s Suman Bery
Addressing a session at the Public Affairs Forum of India (PAFI), Bery said the private sector needs to play a bigger role to lead the country to a path of sustainable growth and urged them to enhance investments in R&D.
India's take-off moment is here, says NITI Aayog VC Suman Bery
NITI Aayog's vice-chairman Suman Bery linked his remark with the advantage of having the world's largest working population and resilient physical and digital institutions. "This is India's take-off moment... 1/5th of humanity will have rising living standards," PTI quoted him as saying.
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