They want govt to raise excise duty and service tax rates, cut subsidies.
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 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
The recent government shutdown and debt default crisis hit the US economy so badly that it cost the country 120,000 jobs and wiped out 0.25 per cent of economic growth for the fourth quarter, the White House said.
'Outside investors don't want to get tangled up in a religious war.'
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
India's economy is unlikely to see double-digit growth and may grow between 8 per cent and 9 per cent this fiscal year (2021-22, or FY22), against the estimated 11.5 per cent, according to leading economists and rating agencies. The downward revision of growth projections to as low as 10 per cent is mostly on account of stringency in restrictions by states, relatively slow vaccination pace, and the possibility of a third wave of the pandemic. However, they say the impact will not be as severe as the first wave, and expect the first quarter to see positive growth.
This is a moment when the leaders at the Centre and states must show true leadership for the sake of the country. And it is the top political leaders, not attorney generals or bureaucrats, who should be sitting together and settling this thorny issue of compensation, says Arvind Subramanian, former Chief Economic Adviser to the Government of India.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
The Islamabad Declaration was issued at the conclusion of the 48th session of the foreign minister of the Organisation of Islamic Cooperation which was attended by the ministers and delegates from 57 Muslim states and international organisations.
US President Barack Obama has nominated Janet Yellen to head the Federal Reserve Board, describing her as one of America's "foremost economists and policy makers".
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
Every twist and turn in KMC's civil service career is attributed to serendipity, an aptitude for making desirable discoveries by accident. He plays down his capabilities, which took him to the top of the civil service as the Cabinet Secretary or his misfortune in losing a daughter in her prime and suggests that his career was indeed serendipitous, observes Ambassador T P Sreenivasan.
China's deteriorating economy is a serious concern. Xi Jinping and China's new premier will have a difficult task ahead of them after the 20th party congress, notes Jayadeva Ranade, the retired senior RA&W officer and China expert.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
Finance Minister Nirmala Sitharaman on Tuesday said the government is working out a new Bill on cryptocurrency which will be placed in the ongoing session of Parliament after approval of the Union Cabinet. The ongoing winter session is scheduled to end on December 23. Replying to a series of questions in the Rajya Sabha, she said the new Bill takes into account the rapidly changing dimensions in virtual currency space, and incorporate features of the earlier Bill that could not be taken up.
Seeking to address international concerns, foreign ministry spokesman Zhao Lijian said China has been adjusting the zero-COVID policy based on the changing circumstances.
To resist external pressure, it could use India's inherent assets and try and make democracy stronger by giving more space to human rights and minority rights, advises Aakar Patel.
Indian-Americans are taking over the country, United States President Joe Biden said on Thursday, referring to the high number of people from the community getting a place in his administration.
Experts will give their inputs for Budget.
According to state government sources, not only did the governor insert some corrections, but he also initialled the final draft after those corrections had been made, reveals N Sathiya Moorthy.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Bhalla will succeed former RBI deputy governor Subir Gokarn, who died in the US on July 30 after a brief illness.
Reddy has worked to reform the economy.
There is a need for tax reforms in the country in a bolder way, Singh said.
Putin justified his decision in a speech blaming NATO for the current crisis and calling the US-led alliance an existential threat to Russia.
The studies found that sectors with the highest unaccounted income included real estate, mining, pharmaceuticals, pan masala, gutkka and tobacco, bullion and commodity markets, film industry, educational institutes and professionals.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
The pressure on India to take a hostile attitude towards Russia and China was not subtle, but it was guarded, observes Ambassador T P Sreenivasan after Monday's 2+2 ministerial meeting in Washington, DC.
Select committees of the House have already submitted their reports
Ahmadis are designated non-Muslims in Pakistan's Constitution and their beliefs are considered blasphemous in most mainstream Islamic schools of thought.
Closed meetings are not open to the public and no verbatim record of statements is kept.
The Central Board of Secondary Education (CBSE) has rationalised by up to 30 per cent the syllabus for classes 9 to 12 for the academic year 2020-21 to reduce course load on students amid the COVID-19 crisis, Union Human Resource Development Minister Ramesh Pokhriyal 'Nishank' announced on Tuesday.
Chinese Foreign Minister Wang Yi arrived in India Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the eastern Ladakh standoff nearly two years ago.
External Affairs Ministry Spokesperson Raveesh Kumar also talked about the China-Pakistan economic corridor in Pakistan-occupied-Kashmir, asserting that India is 'resolutely opposed' to any actions by other countries to change the status quo in the region.
"Ambassador Mittal raised India's concern that Afghanistan's soil should not be used for anti-Indian activities and terrorism in any manner," it added.
The future can only get better if we continue to break silos and work as integrated teams focussed on promoting national interests, recommends Sanjeev Nayyar.
From May 26 onwards, the US Citizenship and Immigration Services will begin accepting applications for work visas from H-IB spouses, reports Aziz Haniffa/Rediff.com.
The exams were postponed in view of the nationwide lockdown imposed to contain the spread of COVID-19.
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