THERE IS NO gainsaying the necessity of rapid capital accumulation in a country like India, which wants to sustain the present high-growth phase, and has ambitions of a "developed-country" per capita income of $12,000-15,000 in nearly three decades from now. Capital, as it is heaped up, enables creation of new fixed assets and working capital, and greatly aids assimilation of technologies for higher production efficiency. But undue concentration of capital is highly deleterious, as it raises the incremental capital output ratio. The monumental jump in the share of large corporate groups in the gross domestic product (GDP) has caused capital/income deprivation for the rest of the economy, even when the external world is volatile. It's staggering: corporate profits quadrupled between FY20 and FY23 to hit a 15-year high in FY24, even as the nominal GDP grew just 47% between FY20 and FY24.
Denne historien er fra December 23, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra December 23, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
It's slow going at Indiamart
THE B2B PLATFORM IS WORKING TO STABILISE OPERATIONS
Eliminates odour, cleans indoor air in a jiffy
● Ideal for bedrooms, offices, or small living areas
'Consumers prioritise value, want devices tailored to their needs'
BenQ, one of Taiwan's biggest electronics firms, sees immense scope for its monitors, projectors, and education-focused flat panels in India.
GOVO GOBUDS SPORT: Comfortable fit for long sessions
These earbuds have low latency and a strong battery
Has the 'Indian' car brand come of age?
● Consumers are no longer hung up on global badges
Get more interest money on EPF claim
● Claims will now be accepted throughout the month
Empowering educators by harnessing GenAI tools
In 2024, there was also rising demand for AI-skilled talent across non-tech sectors such as retail and manufacturing. Hiring sentiments for jobs that require one to at least interact with GenAI tools irrespective of the sector will continue to soar in 2025
Overlapping lending: Banks urge RBI to extend deadline
BANKS HAVE REQUESTED the Reserve Bank of India (RBI) to extend the timeline for adhering to new guidelines that prohibit overlapping lending activities between banks and their group entities.
China's Nio unveils $108,000 EV
CHINESE ELECTRIC CAR maker Nio started sales of its most expensive car as it seeks to double deliveries in 2025 and eventually become profitable.
Musk's Trump trade makes Tesla a winner with $570-billion rally
EARNINGS, REVENUE EXPECTATIONS PLUNGE