In today’s environment, there are many reasons to give restructuring its rightful eminence, so that it garners trust and delivers sustainable outcomes. The first is climate change. The pace of action on transition risks arising from decarbonization will ebb and flow based on the political environment. But the physical risks of climate change will also…
Today anyone in the world with above-average computer skills can hope to deploy open-source AI models that are close to the state of the art. This means that the shift in value creation from AI development to diffusion will take place far earlier than anticipated. The winners in the age of AI will not only…
Economic Surveys tend to have a short shelf life. This could be because they are seen as the handiwork of technocrats, led by the chief economic advisor, and often read like academic wish-lists, devoid of the political economy considerations that determine whether governments take their advice. It could also be because the Union budget follows…
In these years, the number of tax filers has gone up from 65 million to 80 million, which is still less than 6% of the population. Of all those filers, barely 25 million pay more than zero tax. Thanks to the recent hike in the exemption ceiling, it is possible that another 8 to 10…
Mumbai: After finance minister Nirmala Sitharaman delivered a consumption-supporting budget, the ball is now in the Reserve Bank of India’s (RBI) court to deliver the last-mile push to growth with a rate cut next week. A majority of economists believe that the budget has set the stage for a rate cut by keeping fiscal deficit…
For the upcoming budget year, nominal gross domestic product (GDP) has been projected to grow at 10.1% over the half year-based First Advance Estimate (FAE) for the current year, yielding a budgeted GDP denominator of ₹356.97 trillion for 2025-26. The Second Advance Estimate (SAE) for 2024-25 will soon follow at February-end, and at May-end the…
The CEA’s fervent wish is reminiscent of what Samuel Johnson once said of second marriages. They represent ‘the triumph of hope over experience.’ The reason is simple. The Survey is authored by technocrats under the leadership of the CEA, who, unfettered by the compulsions of realpolitik, are free to make suggestions that most democratically elected…
As is usually the case, India’s Union budget for 2025-26, to be announced on 1 February, is expected to attract a lot of attention from different stakeholders in the economy, particularly with its growth momentum having sprung a significant downside surprise in 2024-25. Has the ongoing cyclical slowdown put the Centre’s fiscal consolidation agenda at…
The next five countries combined in defence spending—Russia, India, Saudi Arabia, the UK, and Germany—spend about half of what the US does annually. Of course, defence spending alone does not count towards becoming a ‘pole.’ Also Read: China may have to slow down in the superpower race and tackle domestic problems In strategic terms, a…
With less than a fortnight to go before India’s budget for 2025-26, all eyes are on finance minister Nirmala Sitharaman. Apart from all the usual reasons, this budget has special relevance, as it is the first full-year fiscal plan after last summer’s Lok Sabha elections. It comes after the interim budget on 1 February 2024…
