'But the world would be much poorer without economics' contribution to understanding how societies function and without economists' suggestions as to how politicians might improve them. 'And economists themselves could do wonders by simply incorporating the country-specific factors in their econometric models rather than just applying them in toto," say Soumya Kanti Ghosh and Samir K Jha.
Committing to more steps to boost economy, the Finance Ministry said initiatives taken by the government in the past one year will boost investment and revive the sagging growth.
Slight recovery in growth is expected only in July-September.
India Inc has an impressive report card to show for the first quarter of this financial year.
.jpg)
Business leaders met Manmohan Singh to discuss the problems facing the country.
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
Some leading Indian companies are likely to see their earnings declining if the Indian currency depreciates further, analysts and finance heads say.
The new season looks super dreary, warns Sukanya Verma.
.jpg)
The trade deficit makes up an important part of the current account deficit, which had touched an all-time high of 4.8 per cent in 2012-13.
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
