Avinash Dixit, John J F Sherrerd '52 University Professor of Economics, Princeton University, is a pioneer of the game theory and a major influence on Nobel laureate Paul Krugman's acclaimed work on international trade. Dixit, who spoke at the Delhi Economics Conclave on December 14, in an interview with Business Standard, talks about importance of collective action and social ostracism in fighting corruption.
With inflation still ruling above the 9 per cent mark, Prime Minister's Economic Advisory Committee (PMEAC) on Wednesday suggested that the Reserve Bank should continue to focus on controlling the rising prices.
Although the government had pegged fiscal deficit for the current financial year at 5.1 per cent of the GDP in the budget, it has revised the target to 5.3 per cent in view of subdued revenue collection and rising fuel and food subsidy bills.
S&P earlier this week had said India faces 'one-in-three' chance of rating downgrade in the next two years
In the recent past, government has taken a number of measures, including opening up of foreign direct investment in multi-brand retail and hiking foreign investment cap in the aviation sector, to boost economic growth and restore investor confidence.
I think the overall growth rate of the economy will be between 5.5-6 per cent, says C Rangarajan.
His comments followed release of latest data showing food inflation at nearly four-year low of 4.35 per cent during the week ended December 3, reflecting a decline in prices of essential items like vegetables, onions, potatoes and wheat.
Jean Dreze, a noted economist who was was a member of Sonia Gandhi led National Advisory Council, was dropped from the list of speakers at the Delhi Economics Conclave organised by the finance ministry and inaugurated by Prime Minister Narendra Modi.
Finance Minister Arun Jaitley to discuss state-level issues before finalising GST.
The finance minister termed rationalisation of subsidies as 'unsung reforms'.
Moody's Analytics had said Prime Minister Narendra Modi must keep BJP members in check or risk "losing domestic and global credibility".
Speaking at the Delhi Economic Conclave in New Delhi, Reserve Bank of India Governor Raghuram Rajan said the central bank will come out with a discussion paper next week with regard to distressed borrowers and rising non-performing assets.
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
Kenneth Rogoff, professor of public policy and economics at the Harvard University, tells Dilasha Seth on the sidelines of the Delhi Economics Conclave that public sector banks will need to take a one-time haircut to address non-performing assets.
Modi govt says its economic score on all coutns is very good.
The deal, involving Abu Dhabi carrier Etihad's purchase of 24 per cent stake in Naresh Goyal-led Jet Airways, was approved last month by the Competition Commission of India.
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'India is doing better than when we took office 17 months ago'.
Amartya Sen and Jagadish Bhagwati publicly sparred last year on the direction of India's economic policy.
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