New Reserve Bank of India chief makes his first monetary policy statement on Friday with expectations he may scale back some of the emergency measures that have helped the rupee bounce from a record low.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
IMF attributes the slower growth rate to supply-side bottlenecks.
Curbing the federal deficit is the government's absolute priority on February 28.
The idea is to boost household savings and turn more of them into growth capital. If the plan succeeds, sustained eight per cent-plus rates of gross domestic product growth should be within reach in a few years.
This Budget plans for an increase to 10.3% of GDP from 9.9%.
Finance Minister Arun Jaitley presented the Union Budget.
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
Experts hail Budget 2015 as a progressive, growth oriented one.
India Inc is encouraged by a determined Budget.
Attired in his trademark half sleeves kurta and sporting a Rajasthani turban, Prime Minister Narendra Modi devoted a bulk of his 90-minute address on the occasion of the 70th Independence Day to presenting in effect a report card of his government's work particularly in boosting economic growth, ease of doing business and welfare schemes for the poor and farmers.
NDA government has shunned populism.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
Indian economy about to take-off
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