'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
The wait for India to become a $5-trillion economic powerhouse by 2024-25 (FY25) is going to take longer than what the finance ministry had originally intended, according to the International Monetary Fund (IMF). The vision will instead be achieved in 2028-29 (FY29), reveals the IMF data, illustrating a four-year delay. Chief Economic Advisor (CEA) V Anantha Nageswaran had in February said India would become a $5-trillion economy by 2025-26 or the following year, on the back of 8-9 per cent sustained growth rate in real gross domestic product (GDP). However, the IMF data conveys that the economy will be $4.92 trillion in FY28, clearly alluding to the fact that the target will be realised in FY29.
Mistry said the poll body satisfied the candidate on every complaint but despite that he raised all those points in the media before bringing them to "our notice".
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
Congress presidential candidate Shashi Tharoor on Tuesday claimed many electors have been instructed by 'their leaders' to support his rival but they may eventually vote for him in a secret ballot.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
Coal shortage at thermal power plants is lingering on, with 59 non-pit head projects having the dry fuel stocks for less than four days as on Wednesday, according to official data. The number of such projects having less than four days of coal (supercritical stock) stood at 61 on October 19, the latest data from the Central Electricity Authority (CEA) showed. The count of the plants having supercritical stocks was at 64 on October 13.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
India is unlikely to see a repeat of the 2021 energy crisis this festive season as coal-fired power stations across the country have comfortable levels of the fuel stock to meet electricity demand of the world's fastest expanding major economy.
Rumours in the bureaucracy on his successor include the names of Sajjid Chinoy of JP Morgan, Rathin Roy of the National Institute of Public Finance and Policy, Neelkanth Mishra of Credit Suisse and the principal economic advisor, Sanjeev Sanyal.
the ratings agencies have been inconsistent in their treatment of China and India. Given this record -- what we call Poor Standards -- my question is: why do we take these rating analysts seriously at all?," Chief Economic Adviser Arvind Subramanian said on Thursday.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
The Survey adopts an unfettered approach in thinking about the appropriate economic model for India. This endeavour is reflected in the sky blue cover of the Survey, Chief Economic Adviser Krishnamurthy V Subramanian said.
The Congress presidential polls will be held by a secret ballot and no one will get to know who voted for whom, the party's central election authority chairman Madhusudan Mistry said on Wednesday, asserting that a level-playing field has been ensured for both candidates.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
'I think my first obsessive, possessive and only half-requited -- as we would joke -- 'love' was Ivan. I saw him first slouching down the corridor of St Stephen's College nearly 50 years ago and was instantly smitten (as was everyone else around him).'
Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owe close to Rs 7,000 crore to 17 banks.
Monetary policies worldwide has to deal with issues like controlling inflation, promoting growth and financial stability.
Congress's Lok Sabha members Shashi Tharoor, Manish Tewari, Karti Chidambaram, Pradyut Bordoloi and Abdul Khaleque said this list must be made available in order to verify who is entitled to nominate a candidate and who is entitled to vote.
The worst sufferer during the month was the western region, which recorded a deficit of 17.5 per cent, followed by the Northern region 10.5 per cent, North-Eastern region 10.3 per cent, Southern Region 5.8 per cent and Eastern Region 5.7 per cent, the report said.
Even as services helped the Indian economy clock better than expected growth in the first half, many economists say that the sector would slow down much more in the second half and restrict growth to seven per cent or less for the whole fiscal.
The new Chief Economic Advisor Krishnamurthy Subramanian believes that more than unemployment, it is the quality of employment which needs to be focused on. In an interview with Arup Roychoudhury and Indivjal Dhasmana, Subramanian said that controlling inflation was the Modi government's biggest achievement.
The outgoing Chief Economic Advisor will always be remembered for his remarkable passion, his large imprint on policymaking and the high level of public debate he fostered
They said that as Congress MPs, they are concerned about the transparency and fairness of the election process for the president of the party.
Subramanian said a five per cent growth rate is "remotely not enough" for India to grow and provide the jobs for the expanding labour force.
Subramanian Swamy caused a flutter when he sought Arvind Subramanian's sacking for allegedly taking anti-India stance when he was an IMF economist in Washington.
Chief Economic Advisor Krishnamurthy Subramanian said China imports a lot of components, parts, assembles and integrates and then exports them.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
The rupee fell 1.87 percent against the dollar this week, its biggest fall since late April.
The Congress, however, dubbed Swamy as the 'undeclared spokesman' of Modi.
A combination of demonetisation, a poorly and hurriedly implemented GST, and more recently the "botched up" lockdown of the economy to control the spread of Covid has brought the economy to its knees.
He also asked why anyone seeking to contest the Congress president's election should go to the PCC office to get the electoral roll as this does not even happen in a club election.
Former CEA Arvind Subramanian called for research in the area and urged the NSE Centre for Behavioural Science in Finance, Economics and Marketing to explain why as the economy has been going down, the stock market has been going up.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
Rajan has shifted from the conventional ground floor room occupied by CEAs to a room on the first floor, adjacent to Chidambaram's office.
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
More than 100 products have been introduced at the Consumer Electronics Show at Las Vegas.
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Govt expects 15.8% growth in revenue collection this year.
