The government last year introduced the Insolvency and Bankruptcy Code.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
The panel has proposed lower rates of 10 per cent for annual income between Rs 5 lakh and Rs 10 lakh, 20 per cent for income between Rs 10 lakh and Rs 20 lakh. For income of Rs 20 lakh to Rs 2 crore, the suggested rate is 30 per cent.
This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
'We expect a pick-up in the second half of the current fiscal. But before that, data is likely to show a further slowdown. The second quarter print is likely to be worse than the first quarter,' said a senior official.
The Supreme Court on Tuesday refused urgent hearing on a plea seeking a direction to the Central Bureau of Investigation to register a case against Congress Vice President Rahul Gandhi for allegedly declaring himself as a British national before company law authorities there.
#Budget2018 resulted in over 14 lakh conversations on Twitter.
Following up on his barb last week that Rajan should be sent back to Chicago, BJP MP Subramanian Swamy has written a letter to the Prime Minister saying how a person appointed by the UPA government should be continued in the post.
The rupee fell 1.87 percent against the dollar this week, its biggest fall since late April.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
Even Subramanian Swamy, who says he is an ardent supporter of the prime minister, has been taking proxy pot shots at him.' 'At the ground level too, there is resentment from workers and local leaders who have perhaps not got whatever they may have wanted,' notes T C A Srinivasa-Raghavan.
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