'Our problem is not a budget deficit but a trust deficit. We need to trust our institutions and industries to innovate and lead. That is the way forward for India.'
US President Donald Trump expresses frustration with the lack of progress in trade talks with India, imposing a 25% tariff. The move comes amid concerns over trade deficits and India's reliance on Russian military equipment and energy.
Bolton slammed Trump's tariff policy, asserting that it has "shredded" decades of Western efforts to align India away from its Cold War ties with the then Soviet Union (Russia) and address the growing threat from China.
The Tamil Nadu government will constitute an 'economic advisory council' to the chief minister comprising Nobel laureates, former Reserve Bank of India governor and other economic experts from around the globe to advise the state on how to reverse the economic slowdown.
This is the conclusion of a report prepared by the treasury and the White House Office of Management and Budget.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Headed by NITI Aayog member Bibek Debroy, the EAC includes NITI Aayog's Principal Advisor Ratan Watal as its member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members.
In a heinous terror attack, two Indians were killed while one was abducted in the Dosso region of Niger, as noted by the Indian Embassy in Niger.
'...it should not delude itself into thinking that India's security or its great-power ambitions will be advanced by those partnerships.'
'Instead, what India should focus on is on riding out the next three-and-a-half years of Trump's presidency with minimal damage to itself.'
Defence Minister Rajnath Singh stated India's readiness to assist Pakistan in combating terrorism if it cannot act on its own, highlighting Operation Sindoor as a demonstration of India's capabilities. He also criticized Pakistan's appointment to a UN counter-terrorism committee.
Currently Chairman of the President's Council of Economic Advisers, Krueger plans to return to his position as Bendheim Professor of Economics and Public Affairs at Princeton University at the end of the summer.
The council wants the government to stick to its fiscal consolidation road map.
India and the UK have respected each other's political sensitivities during the negotiations for free trade agreement, with New Delhi agreeing to drop its demand on post-study work visas for students in exchange for Britain withdrawing its request to open up legal services here, an official said on Wednesday.
The Anti-Discrimination Student Movement (SAD), which led protests against Bangladesh Prime Minister Sheikh Hasina, has launched itself as a political party called the National Citizen Party (NCP). The new party, which aims to 'dismantle constitutional autocracy' and establish a 'second republic,' has pledged to create a 'solely Bangladesh-oriented' political system, with no room for 'pro-India and pro-Pakistan politics.' The NCP's inaugural rally was attended by representatives of various political parties, including the Bangladesh Nationalist Party (BNP), Jamaat-e-Islami, and envoys from the Vatican and Pakistan.
Bangladesh's Chief Adviser Muhammad Yunus has called upon China to expand its economic influence in Bangladesh, controversially mentioning that India's northeastern states being landlocked could present an opportunity. Yunus, who recently visited China and met with President Xi Jinping, highlighted Bangladesh's role as the "only guardian of the ocean " in the region, suggesting it could be a pathway for Chinese economic expansion. This statement has sparked debate, with Sanjeev Sanyal, a member of Prime Minister Narendra Modi's economic advisory council, questioning the relevance of India's landlocked states in Yunus' appeal to China. Yunus, however, emphasized the importance of a strong friendship with China, viewing it as a counterbalance to India. During his visit, Yunus signed nine agreements with Beijing and secured USD 2.1 billion in investments, loans, and grants from the Chinese government and companies.
'The committee has been constituted. Different government departments and FSDC members are part of it.'
China and Pakistan are in a tight strategic alliance. India must deal with them one at a time, but be prepared in case they decide to collude, points out Shekhar Gupta.
China supplied more than $20 billion worth of arms to Pakistan. These include 20 J-10CE and JF-17 Block III fighter aircraft, Wing Loong drones, frigates, submarines, Hongqi HQ-9P surface-to-air missiles, 240 PL-15E air-to-air missiles, LY-80 air defence systems, ZDK early warning aircraft and other weapons.
Bibek Debroy was one of the very few economists not bound by any single area of expertise and was simultaneously curious about economics and politics, myths and maths, chess and chemistry, and what not, remembers Laveesh Bhandari.
After more than four hours of talks in Saudi Arabia, the US and Russia agreed on four key principles, Rubio said on Tuesday. These include appointing a high-level team to help "negotiate and work through the end of the conflict in Ukraine" in a way that's "acceptable to all the parties engaged."
With the dissolution of former chief statistician Pronab Sen-led Standing Committee on Statistics (SCoS) by the Ministry of Statistics and Programme Implementation (MoSPI), the National Statistical Commission (NSC) has regained prominence as the primary statistical body to address issues regarding results, methodology and questionnaire, among others. A MoSPI official in an email informed the 16-member SCoS about the decision to dissolve it, citing that its work was "overlapping" with that of the Steering Committee for National Sample Surveys (NSS), which was set up in June this year.
After the 1962 War with China, there was a demand to forge greater defence cooperation between India and the West. One such voice was that of Sudhir Ghosh, a distinguished MP, to tie up strategic cooperation with the USA immediately after the Chinese attack on India, recalls Rup Narayan Das.
Cohn served as Trump's chief economic advisor since the beginning of the Administration. During his stay at the White House, he led coordination of Trump's pro-growth domestic and global economic policy agenda, including the passage of historic tax cuts and reforms in December 2017, the official said.
'Gyanendra back on the throne would be bad news for the Nepali people. He may not have learnt from his experience, but we have.'
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
United States President-elect Barack Obama on Monday officially unveiled the economic team that will assist him in tackling what he termed 'an economic crisis of historic proportions'.Obama has named New York Federal Reserve President Tim Geithner as US Treasury Secretary and former Treasury Secretary Larry Summers as chief of the National Economic Council.
'Modi's intention was to create goodwill that will allow India to be seen by Trump as more than just a bad tariff problem.' 'He succeeded brilliantly on that count but none of these wins are unfortunately permanent.' 'Modi will have to do this again and again if Trump's grievances are to be durably assuaged.'
The men who advice the man who runs the country are experts and their experience says it all.
The luncheon at his residence was attended by Planning Commission Deputy Chairman Montek Ahluwalia, Chairman of PM's Economic Advisory Council C Rangarajan, former RBI Governor Bimal Jalan, Foreign Secretary Shiv Shanker Menon and officials of the Prime Minister's Office.
PM Modi went to New York this time not to engage in polemics, but to find solutions to global problems. He made some progress on several matters, even on reform of the UN Security Council, when the US made a major concession for the first time that six permanent members without veto, including India, could be considered
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
'The focus of the legislation will be to minimise user harm and increase the accountability of platforms, while also promoting innovation.'
'The Indian government is better prepared this time and has reached out to all contenders and not putting all eggs in one basket.'
Economic Advisory Council to the Prime Minister has identified ten themes, including economic growth and job creations that need attention.
The university's academic council in a meeting on Friday had passed a motion for the removal of the chapter titled Modern Indian Political Thought.
