The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
Infrastructure and inflation targeting are expected to be top priorities for the new Reserve Bank of India governor, says A V Rajwade.
India's aggregate NPA as a percentage of GDP is far lower than that in Italy, Greece.
In a recent article, Rajan has ridiculed critics of the exchange rate policy.
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
Over the last two years, despite an amnesty scheme, only about Rs 2,500 crore of taxes have been recovered.
Sweden has the world's highest negative rate.
Loans make money for the lender in the initial years but losses come later when they turn bad.
There are already some signs of stress in this market.
Economists warn of the impact that a Fed rate rise could have on emerging economies.
For several years the Chinese authorities have been taking steps to internationalise the use of the yuan.
Many emerging economies have witnessed a flight of foreign portfolio capital and their currencies have slumped against the dollar.
India's finance minister has emphasised that "it is the real economy that is going to matter.
It would be a miracle indeed if we grow at 7/8 per cent a year over the current and next few years, says A V Rajwade
Reports says the Chinese are targeting for 50 per cent of China's trade to be invoiced in the domestic currency over the next five years.
The government should mend its ways before weak governance starts impacting India's economic growth.As we come to the end of an eventful year, it is possible to notice an increasing dichotomy between the priorities of a voter and those of our political masters.
The principal topic of hot debate in the previous week-end's IMF-World Bank meetings was the need for realignment of currencies to reduce the global imbalances (read US deficit and unemployment).
The licence permit raj has morphed into a system which is just as crippling.
Speculators do play a role in creating liquid markets. Other players like hedgers, arbitrageurs and long-term investors are not enough to create continuous market liquidity and prices.
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