Announcements almost every other day compel us to believe that India is now the fifth largest economy in the world; that India will be a $5 trillion economy very soon; that India will be the third largest economy of the world in 2027, and that India will become a developed nation in 2047.
As the Indian economy is expanding, more and more jobs are being created. There is, however, a difference of opinion over the pace and number of enabling economic opportunities being created across the country.
Inflation, once thought to be tamed and controlled by the steady hand of central banks, is staging a comeback, and it is not a quiet one. The era of low inflation, marked by decades of economic stability, seems like a distant memory as we grapple with the resurgence of price pressures.
Japan's enduring economic challenges serve as both a cautionary tale and a beacon of resilience.
India finds itself at a crossroads, grappling with the dual challenge of sustaining growth momentum while addressing underlying structural constraints.
Yemen's government has praised Saudi Arabia for providing "generous support" with a $1.2-billion aid package aimed at bolstering the Yemeni economy.
While assuring support for debt restricting and promising to help the ailing economy, Japan stressed Sri Lanka's importance in realising "Free and Open Indo-Pacific" (FOIP), a Tokyo-led initiative planned at countering Chinese influence in the region.
The International Monetary fund on Tuesday projected that the Indian economy will grow by 6.1 per cent in 2023, which is 0.2 points — 20 basis percentage points — higher than its April forecast.
Mobility is normal human behavior and a global phenomenon. Our ancestors in the prehistoric era were hunters-gatherers. They were constantly on the move in search of food and shelter. Floods, storms, earthquakes too compelled them to move from one place to the other. Agriculture changed life, and man started to settle at a place. About 96.5 per cent of the global population today lives in countries where they were born. But there are 3.5 per cent who reside in other countries.
A recent Oxfam report, published in January 2023, found that the richest one per cent in India own more than 40 per cent of the country's total wealth, while the bottom half together share just 3 per cent. Also, during FY 2020-21, approximately 64 per cent of the total Rs. 14.83 lakh crore in Goods and Services Tax (GST) came from the bottom 50 per cent of the population, with only 3 per cent coming from the top 10 per cent
