Bijay Kumar Singh

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Delhi's iconic Ashok hotel to go under the hammer for Rs 7,409 crore

Delhi's iconic Ashok hotel to go under the hammer for Rs 7,409 crore

Rediff.com24 Nov 2022

The government has fixed an indicative value for Delhi's iconic 'The Ashok' hotel at Rs 7,409 crore under the national monetisation programme, according to sources. The Ashok and the adjacent hotel Samrat are among the eight India Tourism Development Corp assets listed under the National Monetisation Pipeline (NMP) announced by Finance Minister Nirmala Sitharaman last year. The sources said investor consultation has already been undertaken and a cabinet note for the sale of the sprawling 25-acre property in the heart of the national capital is under consideration.

PSB privatisation will impact economy in 2 ways: Subbarao

PSB privatisation will impact economy in 2 ways: Subbarao

Rediff.com7 Sep 2022

Former RBI governor D Subbarao has suggested that the government should come up with a 10-year road map for privatisation of all Public Sector Banks (PSBs) as it would provide much needed predictability to stakeholders. Subbarao further said that the big bang approach to privatisation of state-owned banks is not desirable but at the same time the issue should not be put on the back burner. "Ideally, we should have a road map, maybe over a 10 year timeframe, to privatise all PSBs. "That will give much needed predictability to all stakeholders," he told PTI.

'Escalation of geopolitical tensions biggest risk to India's growth'

'Escalation of geopolitical tensions biggest risk to India's growth'

Rediff.com24 Aug 2022

The biggest risk to India's growth outlook is an escalation of geopolitical tensions, especially if these tensions spread to the Asian region, RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Wednesday. Varma, in an interview to PTI, said that inflation and inflationary expectations appear to be moderating and high inflation will certainly not become the 'norm' in the country. He is cautiously optimistic about the Indian economy as after the pandemic abated, consumption demand has begun to recover though the recovery is uneven across sectors and industries.

RBI's criticism for 'delayed' rate hike unfair, says D Subbarao

RBI's criticism for 'delayed' rate hike unfair, says D Subbarao

Rediff.com18 May 2022

The criticism that the Reserve Bank of India was behind the curve in hiking interest rate to tame rising inflation is unfair, former RBI Governor D Subbarao said on Wednesday and asserted that it is difficult for any central bank to anticipate the future more accurately. Earlier this month, Monetary Policy Committee (MPC), the central bank's rate-setting panel, surprised the markets with a 40 basis points hike in repo rate in an off-cycle policy meeting. It was also the first rate hike after August 2018, amid spiralling inflation.

Sanctions on Russia unlikely hit India's defence sector: Niti member

Sanctions on Russia unlikely hit India's defence sector: Niti member

Rediff.com9 Mar 2022

'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'

Indian economy has recovered 'handsomely': Panagariya

Indian economy has recovered 'handsomely': Panagariya

Rediff.com25 Jan 2022

The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.

Economy has some bright spots & a number of very dark stains: Rajan

Economy has some bright spots & a number of very dark stains: Rajan

Rediff.com23 Jan 2022

The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.

Indian economy in better shape than a year ago, says economist Pinaki Chakraborty

Indian economy in better shape than a year ago, says economist Pinaki Chakraborty

Rediff.com29 Nov 2021

India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.

India to restart Covid vaccine export by year end

India to restart Covid vaccine export by year end

Rediff.com25 Oct 2021

India is committed to supplying COVID-19 vaccines to other nations and such supplies are likely to begin by the end of this year, as the abundant production will not just meet domestic needs but also generate surplus for exports a top government official said on Monday.

2nd wave subsiding, but can't say worst is over: Govt

2nd wave subsiding, but can't say worst is over: Govt

Rediff.com17 Oct 2021

Cautioning that the country is passing through a phase when there are festivals and potential gatherings, he said this is a critical phase as the virus can spread again.

No data to show Delta plus impacts vaccine efficacy: Paul

No data to show Delta plus impacts vaccine efficacy: Paul

Rediff.com28 Jun 2021

It will be unfair to put a date for any COVID wave as the behaviour of coronavirus is unpredictable and a disciplined and effective pandemic response can help the country get away from any significant outbreak, COVID Task Force chief V K Paul said.

Should RBI print money? Ex-Guv Subbarao says no

Should RBI print money? Ex-Guv Subbarao says no

Rediff.com9 Jun 2021

The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.

India managed Covid 2nd wave 'very well': Niti member

India managed Covid 2nd wave 'very well': Niti member

Rediff.com4 Jun 2021

'We have to take all preparations because the third wave is likely to start from September-October onward'

Modi's $5 trn economy is a useless target: Jean Dreze

Modi's $5 trn economy is a useless target: Jean Dreze

Rediff.com11 May 2021

India might be heading towards a "serious livelihood crisis" as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a nationwide lockdown, according to noted economist Jean Dreze. In an interview to PTI, he also said the government's target to make India a $5 trillion economy by 2024-25 was never a "feasible target" and was just to pander to the "super-power ambitions" of the Indian elite. About the impact of the second wave of COVID on the Indian economy, the eminent economist said the situation today is not very different from what it was around this time last year as far as working people are concerned.

Farmers' income won't be doubled if...: Niti member

Farmers' income won't be doubled if...: Niti member

Rediff.com28 Mar 2021

Chand pointed out that the government is willing to discuss the three farm laws clause by clause, and farmer leaders should consider this offer.

Niti's next divestment list will be ready in few weeks: Rajiv Kumar

Niti's next divestment list will be ready in few weeks: Rajiv Kumar

Rediff.com4 Feb 2021

Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its vice chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks' bad loan woes will do a good job like the UTI. Days after Finance Minister Nirmala Sitharaman announced the Union Budget for 2021-22 laying out various measures (including disinvestment proposals) to bolster the pandemic-hit economy, Kumar also emphasised that the Modi government has shown consistent commitment for the welfare of farmers and for the improvement of the agriculture sector. "Now the process has begun... We will complete preparation of the next list in the next few weeks, we have got the marching order," Kumar said about the list of public sector companies for the next round of stake sales.

Enough stockpile of COVID-19 vaccine for priority groups: Niti member

Enough stockpile of COVID-19 vaccine for priority groups: Niti member

Rediff.com4 Jan 2021

Paul noted that "three to four months from now, there will be other vaccines and the stockpile will be even bigger. "And more acceleration can be brought about in the vaccination programme," Paul added.

'False narratives' on agri laws hurting farmers: Niti Aayog vice chief

'False narratives' on agri laws hurting farmers: Niti Aayog vice chief

Rediff.com28 Dec 2020

As farmers continue their protests demanding repealing of the three new laws, Kumar also emphasised that continued negotiations with protesting farmers is of course the way forward.

GDP to enter positive territory in Q4: Niti VC

GDP to enter positive territory in Q4: Niti VC

Rediff.com2 Dec 2020

The Indian economy is coming out of the pandemic-induced degrowth and GDP growth will enter the positive territory in the fourth quarter of this fiscal, Niti Aayog Vice-Chairman Rajiv Kumar said on Wednesday. In an interview to PTI, Kumar also said the Centre's new agriculture reform laws are aimed at increasing the income of farmers and the present agitation was a result of misunderstanding and miscommunication which need to be removed.

Farmers haven't 'properly understood' new laws: Niti Aayog member

Farmers haven't 'properly understood' new laws: Niti Aayog member

Rediff.com29 Nov 2020

'If these new farm laws are allowed to be implemented, there are very high chances of big increase in income of the farmers and in many states, it may even double'

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