'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
The economy can grow by 8.0 per cent if the government improves the public administration and delivery systems, carry forward legal reforms and implement policies promptly
Former Reserve Bank of India Governor Bimal Jalan on Thursday ruled out the possibility of his becoming the next finance minister, saying he did not belong to any political party.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
The economy is slated to grow by 6.9 per cent in this fiscal backed by a robust 9.0 per cent growth in farm output, credit rating agency ICRA said on Monday.
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.
Jalan has unquestionably left an indelible mark on Mint Street.
Refusing to link his seeking voluntary retirement, a year before his superannuation, to his transfer to the relatively low profile power ministry, he said that he had conveyed his decision to the Prime Minister's Office on July 18.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
The Financial Stability and Development Council members include heads of regulatory bodies like RBI, Sebi and Insurance Regulatory Development Authority.
Former Reserve Bank Governors do not seen any harm in central bank consulting the government before firming up monetary policy initiatives saying such an step would not amount to infringement on its independence.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Addressing a rally in Suratgarh town of Ganganagar district, a day after declaring his party would roll out the scheme if voted to power, Gandhi alleged that Prime Minster Narendra Modi gave money to the rich and top industrialists of the country, but the Congress would serve the poor.
'For the RBI, for a central bank, reputational risk is the worst risk.' 'Credibility is the worst risk,'
'The governor does enjoy a certain amount of recognition in the public and if he is able to communicate on some of those larger issues using the gravitas of his office, I think his contribution to the larger public will be great'
With the creation of the state of Telangana, additions were made to ToRs of the 14th Finance Commission to make recommendations for the newly created states after the reorganisation of Andhra Pradesh.
Giving details of Rajan's 'course schedule' for 2016-17, Chicago Booth School said this course will explore the challenges of corporate finance and investment in a more integrated global economy.
He warned low interest rates globally could distort markets and would be difficult to abandon
'One of the nice things about being a central bank governor is that the markets hang on every word you say'.
While Bibek Debroy echoed his view in Twitter, Pronob Sen questioned Kumar's conclusion
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
Subsequent data revisions revealed that growth had not slowed that sharply.
'We have 100,000 students going abroad every year.' 'So, we have room for at least 100 universities of very high quality to service those 100,000 students.'
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.
The government is considering a proposal to privatise some state-owned banks in phases.
Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
No home food for Karti, medicines allowed only on prescription.
These institutes, while expensive, are a viable alternative to studying abroad.
The government's subsidy bill towards oil, fertilisers runs into lakhs of crores of rupees.
Based on this screening, the committee may weed out applications that do not meet the eligibility yardstick or the 'fit and proper' criteria for securing a licence.
Former RBI Governor Subbarao blamed Chidambaram for undermining the autonomy of RBI and putting pressure on him to cut interest rates.
For 2017-18 and 2018-19, investors are better off focusing on the quality of measures announced in the Budget and outside it rather than on the Budget numbers themselves, says T T Ram Mohan.
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