HERE 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 Pune.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra December 23, 2024-utgaven av Financial Express Pune.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Chants meet chatbots at this year's Maha Kumbh
TECH & TRADITION
Trump tariffs: Auto suppliers rethink production plans
Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods
Premium online video market to double by 2028: Report
INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.
RBI governor seeks to improve forecasting
Two of the sources Reuters spoke to said the RBI would look to increase datasets required to gauge trends in income and expenditure better.
Meta's fact-checking snub in US alarms India
As Meta announced the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.
TCS profit rises 4% in Q3
AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%. The key segment - banking, financial services and insurance (BFSI) - reported a modest sequential growth of 0.9%, compared to 0.1% in Q2.
Simplified Income Tax Law in Budget Session Likely
Similar attempts in the past to simplify the I-T law, most notable being the Direct Taxes Code drafted in 2009 by the UPA govt
L&T chief for all work, no play; gets netizens all worked up
WHILE SOME ADVOCATE for increased productivity to drive economic growth, others argue that such demands are detrimental to mental health and quality of life.
Taliban Urges India to Ease Visa Process
First High-Level Meet
Hollywood Hills burn as big blaze engulfs LA
THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.
