January inflation may undershoot RBI's 6% target.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
Claims of a spike in poverty and inequality in India during the Covid-19 pandemic are patently false as such claims are based on uncomparable different surveys, according to a paper co-authored by eminent economist Arvind Panagariya. The paper also noted that inequality fell in the country during Covid years, both in rural and urban areas as well as nationally. Panagariya, Columbia University Professor and former vice chairman of NITI Aayog and Vishal More of Intelink Advisors, New Delhi have co-authored a detailed paper 'Poverty and Inequality in India: Before and After Covid-19'.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
Prime Minister Narendra Modi defended Mr Rajan, but it would be debated why he took so long to dub criticisms like those against the RBI governor as improper.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
NDDB had helped dairy farmers direct their own development, placing control of the resources they created in their own hands.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
The sabre-rattling between parties on rival sides of the political divide over demonetisation showed no signs of softening on Saturday with the government accusing Congress of engaging in "fear mongering" and the latter hitting back calling the exercise a "not well thought out move" whose after-effects will last long.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The RBI expects the assessment to show if the systemic failure was only in PNB or in the overall banking universe
India's official COVID-19 tally on Wednesday was 4,18,480 (4.18 lakh), the third highest in the world after the US and Brazil.
Modi govt faces extra spending burden due to policies like 7th Pay Commission and OROP
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.
To be sure, this is not some stunning new revelation that our equity markets are beholden to foreign flows.
The country had imported 5.5 million tonnes of pulses last year.
Economist Arvind Panagariya has also argued for loosening deficit targets to boost capital spending
Relax fiscal consolidation, boost public capex and reduce cost of finance, industry tells Centre
Arun Jaitley addressed a post-Budget press conference.
'If deaths had been properly reported, it would have helped contain the pandemic.'
The Economic Survey said that a number of indicators -- GDP, IIP, credit, investment and capacity utilisation, point to a deceleration in real activity since first quarter of 2016-17 and a further deceleration since the third quarter.
To cover most of the gap, the road ministry plans to raise $7 billion.
Earlier, the RBI cut its policy interest rate to 6.75 per cent.
GST reform has been hanging fire since 2006-07.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
The stock market, the Survey felt, had run away from underlying real economy indicators and asked if this indicated rational confidence or irrational exuberance.
The arrival of the June-September rains has been delayed.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
ISB professor Krishnamurthy Subramanian tells Shobha Warrier/Rediff.com that Modi government's continuation of tax terrorism is driving away investors.
A tightrope walk ahead, especially as govt's fiscal deficit has already reached 99% of full-year estimates
Room for rise of up to 2 percentage points, move to help meet higher expenditure need in FY17
GST council may propose a faster refund procedure, deferment of electronic way bill, further simplification of composition scheme
Panagariya has advocated a more liberalised spending, arguing that greater capital expenditure could relax some of the infrastructure bottlenecks facing the country.
The Rajya Sabha on Wednesday approved the biggest tax reform since Independence.
The committee would submit its report in the next two weeks.
Improved performance of manufacturing, services and trade sectors helped boost GDP
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
In part four of a series, Arbind Modi & Arvind Subramanian explain how scrapping the exemptions for the countervailing duty will eliminate the negative protection facing Indian manufacturers
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
