For many years now consecutive governments have pointed to India’s comfortable foreign exchange reserves as evidence of the positive effect that economic reform has had on India’s external sector. On June 12, 2015 foreign exchange reserves stood at a comfortable…
India’s beleaguered farmers are facing another threat to what is now a tenuous livelihood. That threat is the real prospect of a poor Southwest monsoon that would substantially reduce agricultural production over crop year (July to June) 2015-16. In its…
Having come to power by fanning high expectations of what it would deliver on the economic front, the Modi government’s first year has proved dull and dreary. Dull because there is little the government has to show, even on the…
On May 17, the Controller General of Accounts released the audited provisional accounts of the central government for 2014. Unlike the revised estimates in budgetary documents, these figures include actual figures for the month of March. A terse Statement from…
The current stand-off is more of a government effort to regain influence over macroeconomic management, as the government is accountable to the people whereas the RBI is not. Government_and_RBI (Download the full text in PDF format) (This article was originally…
The hurried exit of foreign investors from Indian equity and debt markets seems to be reversing what has been a long bull run in India’s stock markets over the last three years or more (Chart 1). On 7 May, the…
A post-Budget survey of 189 CEOs and CFOs has found that a majority of them find the Central Statistical Organisation’s new growth estimate of over 7 per cent for 2014-15 to be too optimistic and “too good to be realistic”.…
India’s software and IT-enabled services sector seems to have weathered the global crisis well. Figures just released by the Reserve Bank of India, which place computer services exports in 2013-14 at $71.4 billion, point to a continuation of the smart…
The first round of the auction of mining rights in 18 coal blocks to user firms in the private sector in the power, steel and cement industries has been completed. If the figures being circulated of the revenues or benefits…
Recognising the well-known fact that in terms of industrial growth India has fallen behind many of its former peers such as Brazil and South Korea, the NDA government has made the revival of manufacturing the centre piece of its economic…
