The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
On Friday, the nameplate of the erstwhile commission on the railings of the Yojana Bhawan was pulled down and replaced with NITI Aayog.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
The RBI cut the rate several times last year to reduce it by 125 basis points to the current 6.75 percent.
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Eminent free market economist Arvind Panagariya has been appointed to run Indian Prime Minister Narendra Modi's new Policy Commission, set up to modernise economic strategy after decades of Soviet-style central planning.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
India's new policy commission has received a makeover and a dream team has been formed to head the Think Tank, NITI Aayog.
The Bharatiya Shiksha Niti Aayog will study the present education system and suggest corrective steps to make it Bharat-centric. G Sreedathan reports
As Modi completes a year in office, his cuts in federal welfare spending on the poorest of India's 1.25 bn people are coming in for sharp criticism.
The Plan Panel was set up by a simple government resolution in March 1950 had withstood many political and economic upheavals.
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
Creating many more half-decent jobs for the 10 million plus new entrants to the labour force each year must surely constitute the primary development challenge for India today.
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