Deepshikha Sikarwar

Cigarettes, tobacco products, carbonated drinks, and high-end automobiles in the 28% GST slab might see a rise in taxation as a cess ends in March 2026. Discussions are focused on maintaining high tax rates for demerit goods while possibly lowering GST on essentials such as pharmaceuticals.

C Rangarajan emphasizes the need for stricter fiscal laws to manage deficits and debt, and highlights the importance of boosting investments and improving capital efficiency. He advocates for higher infrastructure investments and better banking practices to support India's economic growth beyond the middle-income threshold.

Synopsis The West Asian conflict may impact the global economy by affecting oil prices despite reduced dependence on oil supplies. Kenneth Kletzer, an economics professor, highlights concerns. Crude prices have risen since the Israel-Iran conflict escalated. He views India's developed nation goal by 2047 as ambitious. The upcoming US election poses global uncertainty.

Synopsis India needs to liberalize FDI policy, reduce tariffs, and improve its investment environment, infrastructure, and logistics to achieve its goal of becoming a developed nation by 2047. The country must also focus on managing oil price impacts from West Asia tensions and leverage the 'China plus one' sentiment.

Synopsis Lord Nicholas Stern emphasizes the necessity for India to adopt sustainable growth methods to achieve its goal of becoming a developed nation by 2047. He highlights India's potential to bypass outdated, polluting industrial models, advocating for investments in green energy, technology transfer, and clean infrastructure.

More proactive debt resolution is necessary for low-income countries, says World Bank's Ayhan Kose. The 26 poorest nations face record high debt levels and require international cooperation and investment to meet development goals amid diminishing international aid and increased vulnerability to disasters.

Leading economist Jagdish Bhagwati asserts that this is the Indian century under Prime Minister Modis leadership, urging for cautious optimism. He highlights the need for flexibility amid rising trade protectionism, suggesting multiple trade partnerships to ensure economic stability and avoid overdependence on any single nation.

Leading economist Jagdish Bhagwati asserts that this is the Indian century under Prime Minister Modis leadership, urging for cautious optimism. He highlights the need for flexibility amid rising trade protectionism, suggesting multiple trade partnerships to ensure economic stability and avoid overdependence on any single nation.

The move is aimed at encouraging the lower-middle and middle income salaried classes to save more via EPFO and enable them to build a reasonable retirement kitty. The FY22 budget imposed a Rs 2.5 lakh ceiling on voluntary contribution, above which the interest accrued is taxed. The move was targeted at high-income employees using the facility to earn tax-free interest exceeding that on bank or fixed deposits.

India must implement substantial structural reforms and achieve a growth rate higher than 6.5% to meet its 2047 advanced economy goal, Krishna Srinivasan, director of the Asia and Pacific Department (APD) at the International Monetary Fund, says. The IMF projects India's GDP growth will ease to 7% in FY25 and potential growth to 6.5% in FY26 amid various risks.