In all the three areas of export, innovation and investment, the Obama Administration is looking at India for playing a major role, which was evident during the November visit of the US President to India.
The slowdown in India is related to a credit squeeze, which is a cyclical problem - not a structural problem: American economist Steve Hanke.
The Centre is grappling with the question of its fiscal roadmap not only for this year but for 2018-19
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
'This is still a relatively immature defense and high-tech relationship.'
The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
The government has decided to postpone the release of the new Foreign Trade Policy (FTP) and extend the existing one by six months on account of global uncertainties and currency fluctuations. The government was scheduled to announce the new FTP by the end of September. The current policy was to end on September 30.
'Rahul Gandhi should have prevented Nitish Kumar from going.' 'He must pacify Mamata Banerjee if he has a cause of Mohabbat Ki Dukaan.' 'He should bring this Mohabbat Ki Dukaan on the political canvas.'
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
The China-brokered deal between Iran and Saudi Arabia to revive diplomatic ties should not be a matter of concern for India as the pact would provide regional stability and would be beneficial for New Delhi's interests as well, Iranian ambassador Iraj Elahi said on Friday.
They want govt to raise excise duty and service tax rates, cut subsidies.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
The banking sector is set to move at a fast pace from hereon.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
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.'
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.
'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.'
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.
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.
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.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
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.
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.
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.
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.
Reddy has worked to reform the economy.
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.
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.
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