Today there is a major aspirational class in India that wants to invest for growth… According to the Association of Mutual Funds, the assets under management of the mutual fund industry in India in 2014 were around ₹10 lakh crore. In these eight years, by June 2022, it has increased by 250% to ₹35 lakh crore. That...
The BJP government has focused on keeping the economy on the growth track rather than any short-term populist wins. -Published in the Quint Impartial observers of the Modi government, and especially of Finance Minister Nirmala Sitharaman, were not convinced by the pre-budget expectations that Budget 2022 will be an election budget that will fork out...
A new-found confidence over the well-handled Covid-19 crisis found its way into Budget 2021. This is reflected in three aspects of the budget. One, the finance minister ignored suggestions to tax the rich with a higher surcharge or a Covid-19 cess. Two, the government has gone for growth with a large push on capital spending....
Prime Minister Narendra Modi interacted with leading economists of the country on charting the economic agenda in the post-COVID world and highlighted government’s commitment to developing world-class infrastructure and the economic potential set to be unleashed by National Optical Fibre Network. He highlighted the faith shown by foreign investors in India’s growth story, with foreign direct investment...
Bloomberg Opinion columnist Andy Mukherjee triggered a weekend storm with his loss of hope in India, as expressed here. He has lost hope in India due to what he considers the “inept” authoritarian handling of the pandemic, arbitrariness of policy, decay of institutions, presence of zombie business houses, and the power of a few firms. He...
A far more confident, poised and assertive Nirmala Sitharaman looked nothing like the fumbling FM just a few months ago when she announced the first fiscal package. The almost ₹1 trillion of spending plus infra push announced can be criticized by arguing that the government is not really spending anything much. And where is the ₹10 trillion...
Reform is always tough but reform built with good first principles will finally help the market grow and lift all boats. In one of my last conversations with R.H. Patil, the founder and managing director of NSE and one of the big names in the reform of the Indian capital markets, told me: “When you hear resistance to reform in the name of the poor, or the small guy, you know the other side is out of arguments and change will come." I hope this is as true of the agri-market as it has proved to be of the capital market.
How the Indian govt plans to catch the reluctant Indian income tax payer
How to catch the reluctant Indian income tax payer? Indian government is using big data, technology to both nudge and protect taxpayers.
Foreign and private banks have been a part of the siphoning off of bank money story for decades. RBI finally starts the clean up.