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India’s Digital Revolution: A Push Towards Cashless Society

Sayani ChakrabortyOctober 4, 20230

India is changing rapidly as a result of the digital revolution, which will have far-reaching effects on the country's economy and society. India is rapidly moving towards a cashless society because of the proliferation of digital payment methods and developments in financial technology. Increased Use of Electronic Payment Methods The government's push for digital payments, spearheaded by the "Digital India" project, has been the driving force behind this shift. This bold initiative has made great achievements in increasing internet access and smartphone penetration across the country, with the ultimate goal of empowering residents through digital technology. This has led to the meteoric rise of digital payment systems like the Unified Payments Interface (UPI), mobile wallets,...

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Decreased Private Demand Slows Economic Growth, Suggesting Policy Changes

Sayani ChakrabortyMarch 7, 20230

In line with RBI's projection but below the mainstream opinion of experts, GDP for the third quarter (October-December) of 2022-23 was Rs 40.19 lakh crore, up by 4.4%. Even if GDP revisions for the prior quarter and fiscal year are ignored, data from the third quarter still offers alarming signals about the rate at which the economy is losing steam. In the face of rising interest rates, the positive effects of a return to normalcy in the economy have had a chilling effect on private consumption. In addition, against the backdrop of a worldwide economic recession, manufacturing has decreased for the second consecutive quarter. In the third quarter, private consumption spending increased by 2.1% to Rs 24.77 lakh crore. When compared to the prior quarter (July-September), this one saw ...

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As Financial Market Panic Grows, Sebi And RBI Must Move Quickly To Help Adani Group

Sayani ChakrabortyFebruary 11, 20230

After Adani Enterprises cancelled its fully subscribed follow-on public offering (FPO), the price of its stock dropped by 27% to Rs 1,565.30 the next day. Currently, it's at a price that's around 50% lower than the FPO floor. Since January 24th, the market value of the seven Adani listed firms has dropped by more over $100 billion. As a result of these changes, authorities and politicians in India took swift action. The problem was sufficiently pressing that Parliament had to adjourn. Banks have been questioned about their exposure to Adani companies by the Reserve Bank of India, the Securities and Exchange Board of India (SEBI), and the National Stock Exchange (NSE). There are now commercial and financial ties between international markets and Indian businesses. The global finan...

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The Rate Of Poverty In Rural India Is Four Times That Of Cities: Survey

Sayani ChakrabortyNovember 2, 20220

Three recent agency reports revealed national poverty shortcomings. Due to the pandemic, poverty levels in India have climbed again and progress has halted. India's GHI ranking has dropped further due to massive economic destruction. Rural poverty is four times higher than urban poor, worsening the problem. Ignoring such a severe situation is risky for a government. The pandemic and Ukraine conflict have added 70 million people to extreme poverty, according to the World Bank's "Poverty and Shared Prosperity" study. India was hardest hit, losing roughly 25% of its GDP. Early estimates show 56 million more poor in 2020. This shows that government welfare programmes like the Mahatma Gandhi National Rural Employment Guarantee and free food have not offset the significant loss of livelih...

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States Compete For Industrial Investment, Just Handful Emerge As Victorious

Sayani ChakrabortySeptember 15, 20220

There have been loud political battles in Mumbai since Maharashtra lost the Rs 1.54 lakh crore Vedanta-Foxconn semiconductor project to Gujarat. This, however, is smart politics. Such politics puts pressure on state governments to actively pursue private investment. Having employment, investment, and living standards become regular top-list concerns in party debates and voter attention will be even better for the political system. The PM's remarks sparked a national discussion over rival promises of freebies, which is the worst type of politics because, if freebies dominate policy thought in the present, the future would necessarily be dark. The good news is that certain governments are competing for high-stakes international investment despite freebie politics, and they are doing s...

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Challenge To Raise Percentage Of Rich Amid India’s Growing GDP

Sayani ChakrabortySeptember 5, 20220

India's economic growth has surpassed that of the United Kingdom, making it the world's fifth biggest economy. India's growth is inevitable in the following years, thanks to its large pool of young people poised to enter the middle class and its thriving digital environment. Evidence from SBI Research suggests that India may overtake Japan and become the third biggest economy by the end of this decade. Inflation has not skyrocketed in India despite the Covid epidemic and the Ukraine conflict, and the country has avoided the energy crises that have plagued nations like the United Kingdom. GoI's resolution to not build up a huge budget deficit was correct despite the temptation to replicate the West's excessive stimulus programmes. More creative problem-solving is required for the de...

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India Experiences Market Uncertainty Amid Bizarre Economic Turn

Sayani ChakrabortySeptember 1, 20220

India is experiencing some strange times. RBI expects inflation to average 6.7% in 2022-23, marking the second time in three years that inflation would exceed 6%. However, overall demand has remained low. The rise of inflation is not the main issue. The repo rate has been lifted by the RBI's monetary policy committee by 1.4 percentage points, to 5.4%, since May in an effort to curb inflation's virtuous cycle. While inflation has moderated in recent months, a reversal of trend is yet possible. On August 26th, a barrel of crude oil in India cost $99.6 per unit. Food grain prices may also be affected by changes in the rainfall pattern. The area planted with paddy and pulses fell by 6% and 5% on August 26. After a poor first half, August saw a dramatic increase in net inflows of about $7 bi...

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China waives off debt
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Debt-Trap Diplomacy: China Waives Off Debts Owed by 17 African Countries

Dr. Kankana DebnathAugust 29, 20220

China has officially announced that it will forgive 23 loans for 17 African nations. China waives off debts of the African nations, which are interest-free and had matured by the end of 2021. Chinese FM Wang Yi announced this at the Forum on China-Africa Cooperation. He has further pledged that China would continue to actively support and finance major infrastructure projects in Africa in agricultural and manufacturing sectors. China will aid towards expanding co-operation in emerging industries such as the digital economy, health, green and low-carbon sectors. Facts and figures of the debts China waives off debts in Botswana, Burundi, Rwanda, Cameroon, the Democratic Republic of Congo, Mozambique among the 23 countries. The total amount of waived off debt stands at least at US$113.8...

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South Korea increases defense supplies
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South Korea Increases Defense Supplies: President Yoon Targets Becoming Top Supplier

Dr. Kankana DebnathAugust 24, 20220

South Korea’s President, Yoon Suk Yeol has completed his 100 days in office. During this time he has expressed his plans to make Korea one of the world’s top four weapons suppliers. He increased South Korea's defence budget, wishing to join the top exporters league along with the US, Russia and France. South Korea increases its defence supplies, leading to strategic industrialization making it a defensive powerhouse. South Korea’s global status as a military supplier In 2021, South Korea ranked 10th in the world in arms transfers according to the SIPRI. The value of arms export in South Korea is valued at $566 million. South Korea has already taken steps to achieve its top four ambitions by signing its biggest-arms deal with Poland. The deal was made with almost 1,000 K2 tanks, 600 ...

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Global Economy To Suffer Amid Synchronised Monetary Implications: IMF Report

Sayani ChakrabortyAugust 12, 20220

The International Monetary Fund (IMF) released a revised World Economic Outlook (WEO) in July 2022, lowering its projections for global economic growth. According to the most recent projections, the expansion of global production would drop to 3.2% in 2022 and 2.9% in 2023, an almost 50% decrease from 2021's 6.1% expansion. As a whole, growth projections have been lowered across the board, but they have been revised down significantly for the advanced countries, where they have gone from 5.2% to 2.5% to 1.4%. Growth in EMDEs, on the other hand, will decelerate from 6.8% to 3.6% before recovering somewhat to 3.9% throughout the timeframe. There are a number of causes behind the lowering of expected world growth. It is noted that the worldwide production dropped in the April-June quarter ...

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Bihar In Need Of Economic Development: A Critical Analysis

Pooja YadavAugust 8, 20220

The name of the state, Bihar, comes out of Vihara– a word from Sanskrit and Pali monastic literature meaning abode. However, for several of Bihar’s–more than 100 million– people, the goal of life has become to settle elsewhere. It’s not only an etymological tragedy to start with but also a way of pain that folks from the state have, over the years, normalized. they need to acquiesce to the actual fact that the worth of success begins with the loss of home. If Bihar was a rustic it'd be the 12th most populous country in the world, sandwiched somewhere between Japan and Ethiopia. If time will be a measure, Bihar’s per-capita income today stands at but the per-capita of India in 2009-10. One in three Bihari lives under the yoke of the poverty level. Unemployment reigns high. Factori...

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Reform Of Indian Budget: Forgotten Priority That Causes Major Issues In Economy

Sayani ChakrabortyAugust 5, 20220

Mark Twain stated want of money causes all evil. India's defence budget confirms this. The chronic lack of money for defence also fuels budgetary issues. These modifications may address Twainian evil, say many observers. They expect those adjustments will free up more spending money. It's unlikely. It's almost difficult to meet the military's demands without doubling the defence budget. Kin Hubbard said the easiest way to double your money is to fold it once and put it in your pocket. Only magic can do this. Reforms are essential because the budget can ensure effective utilisation of resources to achieve financially viable goals. This objective involves micro and macro adjustments that are conceptually linked. The MoD's Demands for Grant (DG) structure should be reexamined to enhance bu...

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