The Economic Advisory Council to the Prime Minister (EAC-PM) recently released a working paper titled “Relative Economic Performance of Indian States: 1960-61 to 2023-24”. The paper analyzes the relative economic performance of Indian states using two key indicators: (1) Share in India’s GDP a...
India faced a nine-month high trade deficit in July, amounting to $23.5 billion, highlighting deeper structural issues within the economy. This serves as a reminder of the challenges India faces in balancing its trade equations. While it is not uncommon for a developing country to experience a ...
Launched on August 28, 2014, the Pradhan Mantri Jan Dhan Yojana (PMJDY) marks a decade of remarkable achievements as the world’s largest financial inclusion initiative. The scheme aims to empower marginalized and economically disadvantaged sections of society. Before exploring its success story, i...
In the ongoing financial year (FY25), the financial challenges that have persisted for the past few years show no signs of abating. Recently, several prominent banks, financial institutions, and entities—such as Bank of Baroda, HDFC Bank, PayTM, IIFL, JM Financial, and Paisa Lo—have made he...
The Reserve Bank of India (RBI) recently introduced the Unified Lending Interface (ULI), a digital platform aimed at addressing the credit needs of various sectors, with a particular focus on agriculture and Micro, Small, and Medium Enterprises (MSMEs). Historically, these sectors have str...
The International Monetary Fund (IMF) estimates that the Indian economy will grow by 7% this year, a 0.2 percentage point increase from its earlier projection. This growth reflects “improved prospects of private consumption, particularly in rural areas,” aligning with the assessments of other ag...
During the 2024 Indian Lok Sabha elections, exit polls projected that the alliance led by Narendra Modi’s Bharatiya Janata Party (BJP) would increase its 303 seats in the 543-member lower house and likely secure a two-thirds majority, sufficient to initiate constitutional amendments. As a result, ...
IntroductionOn Wednesday, May 22, 2024, the Central Board of Directors of the Reserve Bank of India (RBI), in its 608th meeting, approved the transfer of ₹2,10,874 crore as surplus to the Central Government for the accounting year 2023-24. This windfall gain for the Central Government is more than...
India is facing a severe unemployment crisis at a crucial juncture when its economy is recognized as one of the fastest-growing globally. Immediate and innovative strategies are urgently needed to leverage the demographic dividend inclusively.The country faces a paradox where economic growth do...
Last month in mid-June, the world was taken by surprise, if not shocked, by the news splashed over the internet, but not in the mainstream media. It was about the “demise of the United States (US) dollar”. We are all prepared for the dangers of getting older and becoming more prone to age ...
