Is Generative AI worth the money? Tech leaders like Microsoft chief technology officer Kevin Scott says costs will come down and capabilities improve, but as Wall Street heads toward correction territoryâ Nvidia and Microsoft, two stocks that have ridden the AI wave, are down more than 15% and 8% respectively since 10 Julyâenterprises are grappling…
His concern was not so much with income than wealth, and here too, he distinguished between inherited and earned wealth. He advocated a tax on the rich who had such âcapital.â Closer home, his work on inequality in India that came out earlier this year drew considerable umbrage, as critics tore into his data and…
GST collections in India have improved significantly over the last three years. In 2021-22, 2022-23 and 2023-24, they rose by 30.8%, 21.4% and 11.8%, respectively. One of the major reasons for this is better compliance. Now, did higher GST collections lead to an impression among households that they are paying higher indirect taxes while their…
To their credit, leftist parties are in a better position today. The Labour Party in Britain has just won by a landslide, ending 14 years of Conservative rule. The left-wing New Popular Front (NFP) coalition in France has a far better chance to stop the rise of the far right than the centrist forces allied…
The latest budget presented by finance minister Nirmala Sitharaman strives for fiscal consolidation while making a slight pivot to demand generation. It, therefore, begs a different set of questions: how will some of the ambitious budget measures be implemented and whether the budgetâs solutions avoid getting to the root of the problem. The FMâs budget,…
Indian textile exports have increased 4.15% in the first quarter of the current fiscal year, driven by rising demand from Commonwealth of Independent States (CIS) and South Asian markets. According to the latest data from the commerce ministry, textile exports grew to $8.78 billion in the first quarter of FY25 compared to $8.43 billion in…
The Economic Survey has been an important annual document, presenting the challenges faced by the country. Traditionally presented a day before the budget by the finance minister, it is written by the chief economic advisor to the finance ministry. But despite being an official assessment of the economy, it has had a short shelf-life as…
Moreover, this has been done with attention to macroeconomic stability and fiscal prudence, adhering to a path of fiscal consolidation, with the fiscal deficit pegged at 4.9% for 2024-25, in contrast with 5.6% of GDP in 2023-24. This will open up space for private-sector participation. Focused on all-round development measures that would generate economic opportunities…
It was also the record seventh time that finance minister Nirmala Sitharaman presented a budget. Her budget proposals show admirable fiscal restraint and conservative assumptions on revenues. Even though another full budget presentation is due in six months, this was an important occasion to articulate an economic strategy. The major thrust of the Union budget…
Drilled down to its basics, a budget, whether of the government or a household, is essentially the same. It must balance expenditure on one hand with receipts or income on the other. But there is one key difference. Governments have an inalienable right to print money. So while anyone may borrow to spend in excess…
