Former RBI Governor C Rangarajan Says India Needs to Grow Fast to Increase Per Capita Income
In his address at the 13th Convocation of the ICFAI Foundation for Higher Education, former Reserve Bank of India Governor C Rangarajan said that India needs to grow fast to increase the per capita income of the country from the present levels.
Rangarajan noted that India is currently the fifth largest economy in the world, but its per capita income is still relatively low. He said that India needs to achieve a seven per cent rate of growth continuously over the next two decades and more in order to make a substantial change to the level of the economy and almost touch the status of a developed economy.
Rangarajan also stressed the need for India to absorb new technologies and develop a skilled workforce in order to support this growth. He said that employment must come out of increased growth, and that growth without equity is not sustainable.
Rangarajan’s comments come at a time when India is facing a number of challenges, including a slowing economy, rising inflation, and a widening gap between the rich and the poor. His call for faster growth is likely to be welcomed by many, but it is important to note that there are no easy solutions to the challenges facing India.
- 21 Sep
NMRC increases metro frequency on Aqua Line for UP International Trade Show
The Noida Metro Rail Corporation will increase the frequency of trains on the Aqua Line from September 21 to 25 to accommodate visitors to the Uttar Pradesh International Trade Show. Trains will run every 7.5 minutes from 8 am to 10 pm. Visitors can reach the exhibition through the nearest metro station Knowledge Park. Parking is available at eight Aqua Line metro stations.
- 19 Sep
Lok Sabha Secretariat to Organize Walkthrough Session for MPs on Multimedia Devices
The Lok Sabha Secretariat will organize a walkthrough session for MPs on the multimedia devices available in the new Parliament building. This comes after several MPs complained that they had not received copies of the women's reservation bill. The walkthrough session has been scheduled for Wednesday morning and will cover the features and functionalities of the multimedia devices. The Lok Sabha Secretariat has taken steps to reduce paper use and promote the use of the latest information technology tools. Parliamentary papers are uploaded on the members' portal, and members and their personal staff have been trained on how to use it. Physical copies of parliamentary papers and bills are still available to those members who request them.
- 18 Sep
Gold ETFs Attract Highest Inflow in 16 Months in August
Gold ETFs attracted Rs 1,028 crore in August 2023, the highest inflow in 16 months. This is despite continued hikes in interest rates in the US, which have led to a slowing down in growth rate there. The factors driving inflows into gold ETFs include its role as a safe haven asset, hedge against inflation, and diversification tool. The outlook for gold ETFs is positive in the near term, given the current macroeconomic environment. Investors who are looking to add a safe haven asset to their portfolio and/or hedge against inflation may consider investing in gold ETFs. However, it is important to note that gold is a volatile asset and investors should carefully consider their risk tolerance and investment objectives before investing.
- 18 Sep
Bihar CM Nitish Kumar says BJP planning early Lok Sabha polls, asserts opposition alliance intact
Bihar Chief Minister Nitish Kumar has claimed that the BJP is planning early Lok Sabha polls and his opposition alliance is ready to face them. He also spoke about the importance of freedom of the press.
- 18 Sep
FSSAI Launches Nationwide Surveillance Study on Milk and Milk Products to Curb Adulteration
FSSAI is conducting a nationwide study to assess the safety and quality of milk and milk products across India. The study will cover 766 districts and collect over 10,000 samples to test for adulterants, normal quality and compositional parameters, contaminants, antibiotic residues, and microbiological indicators. The findings of the study will be used to develop and implement effective food safety measures to protect consumers.