We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
At a pre-Budget meeting, the FM was asked to ensure that NBFCs come out of the liquidity crisis they are facing with the help of RBI. They also spoke about the futility of trying to achieve a 3 per cent fiscal deficit target over the medium term.
The Centre is grappling with the question of its fiscal roadmap not only for this year but for 2018-19
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
RBI unsure whether to cut rates or not in its next monetary policy.
RBI recently cut repo by 0.25 percentage point, taking the rate to 7.25 per cent in three reductions since January.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
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