STRUCTURAL REFORMS
Path towards structural reforms and fiscal prudence will continue in Budget 2024: Navneet Munot
Markets are at a new high. It is definitely a cause of celebration. It reflects India's macroeconomic fundamentals. It reflects that India has got political stability, macroeconomic stability, financial stability. There is tremendous faith on the government's policy continuity.
NEET controversy: Education reforms need to tackle the ‘how’, not just ‘what’ and ‘why’
The NEET controversy has also highlighted the requirement of derisking admission tests. It cannot be that if one test comes under the cloud, then there's no other backup for students. Reform initiatives in sensitive, critical sectors like education need to be injected in a manner that students are insulated from any potential failure. National Testing Agency (NTA), at the heart of this reform process and now of the controversy, conveys a serious gap between conceptualisation and execution.
8% GDP growth not sustainable yet; bond index inclusion may see short-term volatility: Abheek Barua
After the inclusion in the JP Morgan global bond index, in the short term. we need to prepare for volatility. But in the long term, the collateral and the second-round benefits are huge, says Abheek Barua. He expects this to lead to an improvement in the fixed-income ecosystem, which unfortunately has not taken off that well
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
NEET: Panel invites suggestions from students and parents for reform of exam body NTA. Here's how you can share and the last date
NEET Exam: The Ministry of Education's panel seeks input from stakeholders, including students and parents, to reform the NTA amid allegations of exam irregularities. Stakeholders can submit suggestions until July 7 via the Innovate India website. The panel aims to improve exam processes and data security at NTA, which oversees exams like NEET and JEE.
Bengal CM Mamata writes to PM Modi, urges to abolish NEET
Mamata Banerjee advocates for restoring state government involvement in admissions to uphold the country's federal structure, amidst concerns of corruption in the NEET Examination system. The Ministry of Education is taking steps to address irregularities and enhance examination processes.
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Budget should double standard deduction, raise basic exemption to Rs 3.5 lakh under new tax regime: EY
EY recommends significant tax reforms in the upcoming Budget, urging the government to double the standard deduction under the new concessional tax regime to Rs 1 lakh or increase the basic exemption limit to Rs 3.5 lakh. Key suggestions include maintaining corporate tax stability, rationalizing TDS provisions, and improving dispute resolution mechanisms.
Centre's high-level panel on exam reforms to meet on Monday: Sources
Former AIIMS-Delhi director Randeep Guleria, University of Hyderabad Vice-Chancellor BJ Rao, professor emeritus in IIT-Madras' Department of Civil Engineering K Ramamurthy, People Strong co-founder and Karmayogi Bharat board member Pankaj Bansal, IIT-Delhi Dean of Student Affairs Aditya Mittal and Education Ministry Joint Secretary Govind Jaiswal are other members of the panel.
Education ministry to initiate talks with health ministry over reforming format, structure of NEET
The move comes with the NEET-UG 2024 exam, which saw nearly 2.4 million participants, facing allegations of question paper leaks and grace marks being awarded to over 1,500 students. The results, announced on June 4, triggered protests and legal actions. Senior officials confirmed to ET that learning from the experience, such an effort is being initiated to minimise any vulnerabilities in the exam process.
Is emergence of retail investors as the third front against FII selling a structural development? Navneet Munot answers
Navneet Munot says, “There are many kinds of retail money. There are investors or speculators doing intraday, people playing F&O, the opportunistic people and the long-term investors who are doing in a very disciplined manner through the SIP. The most positive thing is the structural flow of money through the SIPs. The other part of the money will depend on the market cycle.”
What will be the key focus areas in the Budget? Ajay Bagga answers
Infrastructure building, indigenisation on imports of institution as well as raising the levels of employment, rural demand, I think all those will remain focus areas.
Strategic reforms in customs duties, GST, commerce to push India's inclusive growth, says GTRI
The think tank suggested increasing the GST exemption limit for a firm's annual turnover from 40 lakh to 1.5 crore as this will be transformative for India's MSME sector, promoting job creation and growth. Firms with less than Rs 1.5 crore turnover make up over 80 per cent of registrations but contribute less than 7 per cent of the tax collected, it said adding a yearly turnover of 1.5 crore equals 12-13 lakh monthly turnover, translating to just Rs 1.2 lakh at a 10 per cent profit margin.
Coalitions, building economic agreement
India's economic reforms are not slowed down by re-entering coalition politics. The country has a history of tough decisions and reformist outcomes under coalition rule since the 1990s.
Election stocks to buy: Pick from a buffet of 50+ counters from 5 brokerages
Investors are adjusting portfolios for potential structural reforms under Modi's third term. Sectors like infrastructure, financials, and consumer discretionary are in focus. Brokerages recommend stocks across sectors including SBI, ICICI Bank, L&T, and ONGC for potential gains post-election.
Election results and stock markets: If history can predict the future
India awaits the Lok Sabha election results with anticipation, largely expecting a win for the Modi-led NDA alliance. Analysts foresee policy continuity and market stability if expectations materialize, but unexpected outcomes could trigger short-term market volatility. Regardless, experts suggest viewing any market dips as buying opportunities.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
Exit polls predict BJP win: How the markets may react on Monday
Market analysts expect public sector companies along with engineering, power, and banks also lead the rally on Monday. "Also, there could also be short covering by foreign investors, which would further add to the party on the street," said Gaurav Dua of Sharekhan by BNP Paribas. The bulls might take further steam from better-than-expected growth (8.2%) in GDP numbers, released late on Friday.
Nifty bulls scream 'Abki baar 24,000 paar' after exit polls predict Modi 3.0
Exit polls indicate a potential hat-trick win for PM Narendra Modi in Lok Sabha, boosting Nifty's rally hopes to cross 24,000. Market analysts foresee a surge if BJP secures victory on June 4.
Yen's relentless slide revives Japan's interest in structural reforms
Japanese policymakers are focusing on structural economic factors driving persistent yen declines, as market intervention has limited impact on the currency's broader slide.
If Modi wins India's mammoth Lok Sabha elections, his third regime will need tough reforms to lure foreign firms
Lok Sabha Elections: As Modi gears up for a potential third term, global firms highlight challenges facing India's economy: policy inconsistencies, bureaucratic delays, and scarcity of land. Despite improved business sentiment, actual investment remains stagnant, with foreign direct investment dropping. Key priorities for the new government include policy coordination among states, labor law implementation, skills development, land reform, trade measures, and fulfilling BJP's promises for economic growth and global manufacturing hub status.
India achieves $5 trillion market capitalization milestone, triples in a decade of economic progress
India's market capitalisation crossed $5 tn, tripling in a decade. Domestic ownership increased as foreign institutional ownership fell. GDP is expected to reach $5 tn in 3 years, $7 tn by 2030.
India’s bond index entry not enough to lift rating, Moody’s says
Moody's Ratings credit officer highlights India's need for structural reforms to enhance fiscal metrics despite global bond index inclusion. JPMorgan, Bloomberg, and FTSE Russell to include India in indexes, projecting substantial inflows into the debt market.
India needs to reduce trade tariffs, simplify procedures and remove protectionism: NITI Aayog CEO BVR Subrahmanyam
Speaking at Confederation of Indian Industry’s Annual Business Summit 2024, Subrahmanyam listed out the need for fundamental reforms in education and skilling, need for intervention to enhance the women labour force participation rate and plethora of policy measures in agriculture along with greater private sector investment in infrastructure and governance reforms.
IMF approves final USD 1.1 bn tranche for Pakistan's bailout package
This latest funding marks the third and final installment of a USD 3 billion standby arrangement with the IMF, crucial for Pakistan to stave off a sovereign default, particularly as the existing arrangement is set to expire this month.
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.
Cash-strapped Pakistan seeking 24th bailout, IMF confirms
Pakistan seeks its 24th medium-term IMF bailout, aiming for permanent structural reforms. The agreement unlocks $1.1 billion, focusing on fiscal consolidation, energy sector reforms, inflation control, and private sector growth. Despite improvements, challenges remain in economic vulnerabilities and policy implementation. IMF lauds Pakistan's efforts but stresses ongoing reforms for stability.
Election volatility, shifts happen
In election years, market volatility in India is influenced by expectations of stable governments and policy continuity. Decisive electoral verdicts often lead to a bullish market, indicating a 'business as usual' scenario. However, the impact of political stability on market volatility is weaker compared to macroeconomic factors and the global business cycle. Changes in government can lead to volatility, depending on the strength of the new government and its impact on policy certainty. India's growth, driven by government-led investment, combined with political stability, is expected to deliver strong equity returns, barring any major electoral upsets.
Govt to herald next-generation reforms; industry must be a key driver of developed India vision: FM Sitharaman
Finance Minister Nirmala Sitharaman announced the Indian government's intent to implement next-generation structural reforms in factors of production, including land, labor, capital, and digital public infrastructure. Speaking at a Ficci event, she urged the industry to be a key driver in achieving the goal of a "developed India by 2047." Sitharaman highlighted opportunities in space, logistics, AI, and R&D, emphasizing the need for industry collaboration.
Budget 2024: Indian economy witnessed profound positive transformation in last 10 years, says FM
Indian economy witnesses positive transformation in last decade, says Finance Minister Nirmala Sitharaman. The government under Prime Minister Narendra Modi's leadership achieved inclusivity through structural reforms, pro-people programs, and employment opportunities. Economy records 9.1% growth in 2021-22, projected to become third-largest in the world at USD 5 trillion GDP.
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