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.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
It appears the row over the article penned by senior Bharatiya Janata Party leader Yashwant Sinha refuses to die down.
The recent rupee depreciation and capital outflows could adversely impact the country's economy.
The price of vegetables in general rose by 77.81 per cent making life difficult for the common man.
Since end-May there has been volatility in the foreign exchange market.
.jpg)
India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
There is a need for tax reforms in the country in a bolder way, Singh said.
Labour law changes for three years may not be enough as it takes a couple of years for factories to build and operations at a proper scale start only in the third or fourth year.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
.jpg)
The marginal improvement in the index of industrial production was mainly on account of higher power generation and mining sector output, while manufacturing declined.
'The CEA suggested that could be as high as 19 per cent.'
The data profiles the country's rural households.
Since end-May there has been volatility in the foreign exchange market.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
The government had breached its fiscal deficit target given in the Budget for 2017-18 in November itself, touching 112 per cent of the limit.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
The new rates, which are likely to be at $8-8.4 against the current price of $4.2 per million British thermal unit, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily's predecessor, S Jaipal Reddy.
.jpg)
Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
The Prime Ministry's Economic Advisory Council Chairman also said fiscal deficit is a concern too and suggested raising domestic oil prices to restrict it to the budget target of 4.8 per cent of the gross domestic product in this fiscal.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
'It appears the growth rate could be around six per cent'.
India's economic growth had slumped to a decade's low of five per cent in 2012-13.
The terms are the same as those suggested by a panel headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan for awarding future oil and gas block contracts.
Disagreeing with Reserve Bank's projection on the price situation, former RBI Governor and PM's Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
The global rating agency expects the economy to pick up in the next two financial years.
Experts believe scrapping some projects is likely to bring some stability in road sector.
The former finance minister was in Mumbai to address Congress party's poll rallies.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
IMF projected India's economic growth at 4.25% in 2013-14.
Gambhir also took a dig at Qureshi's emphasis on a "new Pakistan" under Khan, saying while the Indian delegation had come to listen to Pakistan's "new" foreign minister outline the vision of a new Pakistan, "what we heard is a 'New Pakistan' cast in the mold of old."
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
Budget has laid emphasis on increasing social spends
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances