'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
India's wholesale price-based inflation is at a 30-year high, leading to a "very alarming" situation for the country, former World Bank chief economist Kaushik Basu said on Thursday. He, however, doesn't see any risk of hyperinflation, but cautioned that if retail inflation follows wholesale prices, it might lead to "inflationary crisis". Participating in a virtual event organised by the Asia Society, India, Basu said the inflationary situation in India is at a "very risky bend".
Swamy now wants Arvind Subramanian, one of the front runners for the post of the new RBI governor to be sacked.
She beat 11 contestants from across the world to win the title.
Subramanian Swamy now wants Arvind Subramanian sacked.
Due to improvement in business climate, industry chieftains refrain from visiting the North Block.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
Thackeray held a meeting on the issue and instructed authorities concerned to ensure there is no recurrence of the episode, an official statement said.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
Taxes on health, excluding medicines, could rise from 8.8 per cent currently, to around 13.6 per cent - an increase of 4.8 per cent.
Pahal looks to cut down diversion and eliminate duplicate.
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
The Economic Survey seems convinced that 2019-2020 saw the bottom of the economic cycle, points out Abheek Barua, chief economist, HDFC Bank.
'The CEA suggested that could be as high as 19 per cent.'
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.
Prime Minister Manmohan Singh on Sunday did some plain speaking with his Pakistani counterpart Nawaz Sharif laying down the precondition of end to violations of ceasefire along the LoC for progress towards resumption of Indo-Pak dialogue on various issues.
Amid multiple sectoral woes, India is projected to see an electricity supply shortfall of 6.7 per cent in the current fiscal with the Southern region expected to be the worst hit.
The panel suggested inclusion of alcohol and petroleum products in GST, as is being demanded by the Congress.
Former Indian players on Wednesday not only backed Hockey India's decision to send back Pakistanis but also advocated more stringent action even as players from across the border urged that the upcoming bilateral series should not be derailed due to the ongoing conflict.
S&P earlier this week had said India faces 'one-in-three' chance of rating downgrade in the next two years
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
Chief Economic Advisor Arvind Subramanian said the government has "enough ammunition" to deal with volatility in the currency market.
Rajan, who will be a key member of Finance Minister P Chidambaram's team, was also honorary economic adviser to Prime Minister Manmohan Singh.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
North Block hasn't made a bureaucrat out of the chief economic advisor yet
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
Subramanian Swamy has been critical of Rajan for not lowering interest rates earlier to boost growth.
"The committee will work toward pooling of international and domestic coal prices so that the cost of production does not rise... as international coal is expensive and also domestic coal is not sufficient for the plants," a senior Power Ministry official said.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
The Central Electricity Authority (CEA) has projected an energy shortfall of 10.3 per cent and a peak shortage of 12.9 per cent in the country during the current financial year (2011-12).
Credit to priority sectors as well as small and medium industries will be discussed to find ways to accelerate economic growth.
Risk aversion is currently a dominant depressant to economic recovery, points out Shankar Acharya, former chief economic advisor to the Government of India.
The scheme, which was earlier implemented by the coal companies, has been extended for the current fiscal also.
Fresh power capacity addition has fallen short of target by nearly a third in the first half (April-September) of the current fiscal, owing to delays in the supply of critical components in thermal projects, delayed forest clearances and non-availability of fuel for a nuclear power project.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
The government has firmed up an investment of over Rs 840 billion (Rs 84,000 crore) for setting up hydel projects in the north-eastern region of the country by 2020, which will produce 14,000 MW of electricity
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