Ajit Pawar became a ray of hope for Muslims, the only man in power who could resolve their grievances.
Mixed views were expressed by top economists on the Reserve Bank of India's (RBI) Monetary Policy Committee's (MPC) decision to hold the repo rate at 5.5% and maintain a neutral stance. While some say the decision was as expected and one more rate reduction is expected this fiscal, there is also a view that rate cut by MPC was warranted given the evolving global situation.
The break-up of Financial Development Index showed that India ranked 9th in non-banking financial services and capital markets tracked by the index, but the country lost out in terms of banking financial services standing at 45th place.
'The central bank has highlighted that the slowdown in growth has been limited to a few sectors and overall growth is expected to pick up in the second half of the year.'
Maharashtra Deputy Chief Minister Devendra Fadnavis on Wednesday underlined the necessity of any reservation standing legal scrutiny as he listed key measures undertaken by the state government for the Maratha community.
'Young people say they know all this emphasis on Hindu-Muslim differences is politically motivated.' 'If you stop watching TV and turn off social media, you'll find the situation on the ground different.'
The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year. The growth rate of 5.9 per cent in the 2023-24 fiscal compares to an estimated 6.8 per cent in the previous year.
'When Fadnavis takes our help, it was sabka saath.' 'But when we support his rival, the latter is branded as appeasing Muslims.'
Hitting back at the Shiv Sena, Maharashtra Bharatiya Janata Party leader Devendra Fadnavis on Monday said the Uddhav Thackeray-led outfit's Hindutva is merely on paper and finds mention just in speeches, while it was his party men who faced bullets and lathis during the Ram Janmabhoomi movement.
The Reserve Bank on Friday projected retail inflation to be in 5-5.2 per cent range during the first half of the next fiscal year, expecting further softening of vegetables prices in near term. Also, it has lowered the retail inflation forecast for the current January-March quarter of 2020-21 fiscal at 5.2 per cent. The Reserve Bank (RBI) has kept the key policy rate unchanged at 4 per cent, with an accommodative stance, so as to ensure that inflation remains well within the target, Governor Shaktikanta Das said while announcing the last monetary policy of 2020-21.
Index analyzes drivers of financial system development that support economic growth.
Inflation is expected to remain low in the near term, in part because of the further declines in energy prices.
In the absence of clear incentives for subsidiaries, foreign banks logically prefer the branch mode; but now, those who see India as a long-term growth opportunity have the basis for deciding between the two modes.
A report on countries with best financial system in the world based on seven parameters including - institutional environment, business environment, financial stability, banking financial services, non-banking financial services, financial markets, and financial access.
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
Rediff.com spoke to Raghuram Rajan about his book, what enthuses him about the Indian economy, and what are the concerns he has with India's chaotic progress . . .
Finance Secretary Ashok Chawla, in an impromptu chat with reporters, sided with Sebi, while Planning Commission Deputy Chairman Montek Singh Ahluwalia cited the spat to make a case for setting up a Financial Development and Stability Council (FSDC).
The government will stand guarantor for loans to be disbursed to youth from the community.
The present global crisis is a challenge for the Indian economy as it seeks to integrate into the world.
Shiv Sena MP Arvind Sawant has demanded that party supremo Bal Thackeray should be accorded the status of a 'national hero'.
'The Make in India target of getting manufacturing to account for 25% of GDP by 2022 is quite impossible to achieve.' 'As for the role of technology in the average Indian's life, it is still quite basic -- mobile phones and Mars successes notwithstanding,' says T N Ninan.
Raghuram Rajan said a six-member monetary policy committee will decide on interest rates.
Fed keeps rates unchanged, sets up possible December hike
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
'Investors hate uncertainty and the demonetisation move certainly creates that.'
India's ailing banks need immediate attention.
The central bank maintained its bias towards a rate hike.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P Chidambaram, RBI Governor Raghuram Rajan and Economic Affairs Secretary Arvind Mayaram in New Delhi.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
President Barack Obama has said that the United States will reduce its troops to 9,800 in Afghanistan by the end of this year before a complete withdrawal takes place by the end of 2016.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
'Swachh Bharat Cess imposed last year should be made broad-based.' 'Budget should be predominantly economy/ business-oriented and problem-solving rather than political consideration-based.'
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
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