The statement, issued after the 2-day meeting of the 6-member Monetary Policy Committee of the Reserve Bank of India, also said that recapitalisation of public sector banks along with resolution of stressed assets under the Insolvency and Bankruptcy Code (IBC) will create demand for fresh investments.
Usually, the chair in the Upper House reads out obituary references before members rise as a mark of respect to the memory of the departed.
Premised on the 'best-case scenario' in terms of growth and revenue, the Budget seems unprepared for a possible slowdown.
Listing the series of reforms which led to the upgrade, he said while demonetisation took the economy towards greater formalisation and digitisation, use of Aadhaar ensured targeted delivery of government benefits.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
The government last year introduced the Insolvency and Bankruptcy Code.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
'GST had to come close on the heels of demonetisation as part of the same package.'
Various twists and turns by govt post-demonetisation prove that it has been tall order for the PM
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
The government has spent a little less than one-third of the Budget estimate of capital expenditure, it can still spend about Rs 20,000 crore this year without disturbing its fiscal deficit target.
Its governing allies are not happy on the economy and complain of ignored concerns but find themselves unable to be assertive.
The government has already embarked on strengthening the tax net by sending letters to those who have not filed tax returns.
The government has provided a long-term vision.
'We have promised to ensure reduced tax rates.'
India's economy grew at 7.6 per cent in 2015-16.
'Urjit Patel was not quite the picture of courage, but even he turned, he had to turn.' 'Perhaps there is something that is far more sinister than what we are aware of, which is the reason for his resigation.'
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
The trains will, however, only carry essential services personnel identified by the State government.
It is worth reconsidering if this fascination with either having a single party majority or Modi's leadership or, indeed, both, is such a great idea for India, says Udit Misra.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
The average rating was seven out of 10.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
The biggest achievement of demonetisation is that it has brought about a social revolution against black money and corruption, says Sukumar Mukhopadhyay.
'Our discussions with investors and the market's multiples suggest that Prime Minister Narendra Modi winning 2019 is being priced in,' says a UBS report.
Ramesh says that since the attitude of the Narendra Modi government is deliberately provocative and confrontational, it should not expect cooperation from the Congress.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
Chaos in Parliament threw a spanner in the government's efforts to revive the economy and kick-start reforms.
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
The proposed changes making it easier for government and businesses to buy farm land are now likely to be implemented by states, not by the central government
There were more than three losers against every gainer on BSE
... if high oil prices persist or stock prices correct sharply.
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