Canada was behind India at the fifth place with 65 per cent economically confident citizens.
The decision, taken by the Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi, comes less than a year before next general election.
The term of Subbarao as RBI chief ends on September 4, while the next mid-quarter policy review is due on September 18.
Revising India's GDP upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.
Samajwadi Party chief Mulayam Singh Yadav on Thursday took a dig at Narendra Modi over his remarks that Bharatiya Janata Party will turn Uttar Pradesh into a Gujarat, reminding the BJP's prime ministerial nominee that "atrocities and massacres" were carried out in the state ruled by him.
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
Equity markets are currently difficult to gauge as the market has probably priced in a lot of things ahead of actual events.
US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.
Rajan has a great track record abroad.
The Indian economy grew by 4.9 per cent in 2013-14 fiscal.
Prime Minister Narendra Modi on Monday reviewed the situation and favoured pushing ahead with the reforms agenda and taking more steps to strengthen the economy.
Will the government now push to move away from what Mr Rajan has been doing in the last few years?
'The better developers are seeing good demand (for their housing projects). There are consumers who are buying houses.'
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
Moody's expects the new government to increase the retail selling prices of controlled fuel products -- kerosene and liquefied petroleum gas -- to help control its subsidy burden.
Endorsing Prime Minister Narendra Modi's vision of India outlined in his address to Parliament, India Inc said the efforts to improve farm productivity, rein in price rise and impart skills to youth will transform the nation in the days to come.
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
The Bharatiya Janata Party is likely to emerge as the single largest party in the Delhi assembly polls bagging around 28 seats while the Congress and Aam Admi Party may win in 22 and 18 constituencies respectively, according to an opinion poll by ABP News-Nielsen.
The index has posted below the 50 mark, which marks contraction, for the third consecutive month.
India's manufacturing sector activity contracted for the second consecutive month in September as both output and new orders witnessed a decline, an HSBC survey said.
It is surprising that central bankers around the world have cautioned the US Federal Reserve against raising rates.
Hailing the announcement of Raghuram G Rajan as the new RBI Governor, India Inc on Tuesday said the appointment of the former IMF Chief Economist will help bring the economy back on growth path.
The former RBI Governor also emphasised on the need to boost economic productivity and attract investments.
Both the government and RBI have to complement each other if the economy has to revive quickly.
Bahujan Samaj Party chief Mayawati termed the expansion of the Union council of ministers as a drama and said giving representation to a couple of leaders from the deprived sections will not ameliorate the lot of those communities.
'It is time to allow the rupee to move towards its true value, as it is hurting Indian exports, investment and SMEs associated with export sectors that create jobs,' argues Pravakar Sahoo.
In its latest interim Economic Assessment report released today, OECD said a moderate expansion is under way in most major advanced and emerging economies.
Reiterating his earlier stance, BJP's Rajya Sabha member Subramanian Swamy has written a letter to Prime Minister Narendra Modi, asking him to sack RBI Governor Raghuram Rajan.
The panel was set up to suggest ways to reform India's monetary policy.
The repo rate or the short term lending rate was increased to 7.5 per cent from 7.25 per cent.
The MPC states that the 4 external members will have a tenure of four years each.
Modi talks of development but he is harming them," the Congress vice president adding that projects that could have changed the lives of people.
Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over.
He will be the eighth Deputy Governor to be made Governor at RBI
Government hits back, tells rating agency to introspect on processes.
'Rajan brought in a healthy air of competition in the banking sector.'
Because of Rajan's policies, the banking system has mustered enough courage to disclose their toxic assets
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
Much of the rise in prices has been in food items
The rupee has not depreciated enough against other currencies.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances