The manufacturing sector serves as an engine of growth of an economy. The positive relationship between the growth of manufacturing outputs and the growth of GDP has been established by economists following Kaldor’s laws. That is why development strategies focus on industrialisation. But then, ind...
Despite some popular claims, historical records of commercial policies of the Western economies indicate an inherent, age-old struggle between liberalism and protectionism. Indeed, in the West, free trade has always been the exception and protectionism the rule. On the contrary, the entire Asian reg...
For businesses, this year’s Diwali brings in more joy and festivities for India. India has improved its ranking in the ‘Ease of Doing Business’ index at a time when its economy is in slowdown.According to the World Bank’s ‘Doing Business 2020’ report, India moved from the seventy seventh...
National and international agencies, including the Reserve Bank of India (RBI), the International Monetary Fund (IMF), and the World Bank, in the last few months, have been steadily downgrading their FY 2020 growth forecasts for India. The most pessimistic growth rate of all forecasts is from the in...
India has jumped 14 ranks in the World Bank's ease of doing business index to 63rd place in 2019 from 77th last year. The news could not have come at a better time; Indian economy is going through a prolonged slowdown and the sharp rise in ease of doing business index is expected to improve the conf...
Abhijit Banerjee (58), Esther Duflo (46), and Michael Kremer (54) have won the 2019 Nobel Memorial Prize in Economic Sciences. Banerjee and Duflo hail from Massachusetts Institute of Technology (MIT) and Kremer is associated with Harvard University. The prize was conferred on them for their path-bre...
A merger of banks may not merely be an arithmetic sum of the strengths of both banks. In some cases, it may be the opposite due to the coming together of entities with different cultures.Dr. Y.V. Reddy, former Governor of Reserve Bank of India, said: “Mergers are successful only if there are syner...
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The Central Statistical Organisation (CSO) released its economic growth data about India’s GDP growth rate slipping to 5% in Q1 of FY 20, the lowest in six years.This was not unexpected as it had been 5.8% in the Q4 of FY 19. The economy has been slowing down for, at least, the last six quarters.T...
The first few months of 2019 have seen the lowest new investment proposals in India in the last 14 years. The ‘Centre for Monitoring Indian Economy’ report states investments in Q4 of FY 2019 added only Rs. 9.5 lakh crore. These figures are unlikely to experience any significant change in the up...