US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
The Indian rupee is down nearly 2 per cent against the US dollar since the beginning of January 2019. Experts attribute the Indian rupee's relatively poor performance to a sharper-than-expected fall in economic growth in India.
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Recognising that peaceful protests are a hallmark of a thriving democracy, the United States has said that it encourages dialogue between the protesting farmers and the Indian government to resolve their differences.
Asian Development Bank on Wednesday lowered India's economic growth forecast for FY2019 to 5.1 per cent on slowing job prospects, rural distress exacerbated by poor harvest and credit crunch. Growth in FY2020 is likely to recover thanks to this support, low oil prices, and a weakening rupee, but risks to the projections remain tilted to the downside, it said on India.
The net worth of India's billionaire community has soared 12-fold in 15 years - enough to eliminate absolute poverty twice over in the country, where income inequality is also on the rise, according to the IMF.
Silver has a dual role - 60 per cent of the total silver produced is used for industrial purposes in the electrical & electronics segment and photovoltaic demand mostly for solar panels.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments, as per government projections released on Thursday. Amid overall decline in economic activities, some respite was provided by the agriculture sector and utility services like power and gas supply, which have been projected to post positive growth during the current fiscal ending March 2021.
A staggering $18 trillion worth unaccounted money is stashed in tax havens.
Chinese Premier Premier Li Keqiang said world economic recovery should not be driven by mainly China, but in concert with many countries.
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
Indian economy is expected to expand at 8.5-9 per cent over 10-15 year time frame once the structural issues hampering growth are addressed by the government.
the GDP estimates incorporate new source data and modified compilation techniques
The first task before him is to get used to the idea of working with the Monetary Policy Committee
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
There is evidence of asymmetric adjustment to monetary policy
New Delhi was reluctant to spook investors by clipping the bank's wings
IMF projected India's economic growth at 4.25% in 2013-14.
RBI Governor Raghuram Rajan on Tuesday said the government will decide on extension of his tenure.
"I think the Governor has been doing a great job for the country and we would certainly see it as a very positive move if he were reappointed," Naushad Forbes, president, CII.
In response the BRICS - Brazil, Russia, India, China and South Africa - have taken steps to strengthen cooperation such as setting up a joint development bank
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
The voting share of India in IMF would increase to 2.6 per cent from 2.34 per cent.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
If the projections come true, then India would regain the tag of the fastest growing major economy of the world, crossing China with more than 0.7 percentage point in 2018 and an impressive 1.2 percentage point growth lead in 2019.
Most banks are yet to pass on the benefits to the consumers.
Arvind Subramanian will hold classes for a week on applied economics at IIT Delhi
Here is some background on the candidates seen as potential successors to Rajan at the RBI
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
Global growth, according to IMF, likely to be lower at 3.3%
He will be the eighth Deputy Governor to be made Governor at RBI
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
Part of periodic Article IV consultations on state of the economy; team to have discussions with government as well as banks, private investors and civil society
Markets under pressure; IT financials grab spotlight.
Their research paper on aid by rich nations got leaked
Payments banks are niche banks which will be allowed to function with several restrictions.
US President Barack Obama on Sunday affirmed his commitment to enhancing India's 'voice and vote' in global financial institutions like IMF.
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