The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
Iran was ousted from the United Nations Commission on the Status of Women on Wednesday evening in the wake of the Mahsa Amini protest.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
The announcement was a surprise as the new administration to be headed by the new Premier is scheduled to take over during the annual Parliament session slated to be held from March 5 next year.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
'India will want a lot of help from the US, but it's not going to want US troops.'
The Lok Sabha has already passed the Bill.
'This is a period of significant uncertainty, of unknown unknowns.'
GST reform has been hanging fire since 2006-07.
The Reserve Bank's rate setting panel on Thursday met to finalise a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January this year, said sources. The report will be presented to the government as per the Reserve Bank of India Act, they added. The six-member Monetary Policy Committee (MPC) is headed by Governor Shaktikanta Das.
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
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.
The plan could mature into either an umbrella programme for urban youths similar to the Garib Kalyan Rozgaar Abhiyaan or a modified urban-focused version of MGNREGS.
Revenue buoyancy of GST will be key to improve the resource position of both central and state governments.
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
US IT industry has opposed Obama's move to tax overseas earnings.
Counter-terrorism experts from India, Pakistan and other member states of the Shanghai Cooperation Organisation on Monday deliberated on boosting cooperation in combating various regional security challenges at a meeting hosted by New Delhi.
RBI Governor cautioned against more volatility.
Since end-May there has been volatility in the foreign exchange market.
The former finance minister was in Mumbai to address Congress party's poll rallies.
The ministry of finance will kickstart its massive budgetary exercise from October 15.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
It is also for the first time ever that so many Indian-Americans have been roped into a presidential administration ever before the inauguration. Biden, a Democrat, is still quite far away from filling all the positions in his administration.
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
The reform priorities are clear: enhance savings, improve productivity. Just 25 basis points of moving interest rate up or down would not boost investment: Former RBI Governor Y V Reddy.
Finance Commission has got new team who are committed to growth initiatives.
Doval said it is time for closer consultations, greater cooperation and coordination among the regional countries to deal with the challenges emanating from Afghanistan.
Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.
Observers say China should re-address its policies towards India or else it will continue to face flare-ups increasing the tensions between the two countries at a time China's increasing tension with the US over Taiwan and the South China Sea besides the downturn in the Chinese economy which is hit hard by the zero-covid policy.
'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.'
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.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
The prime minister's economic advisory council was disbanded early on, and not reconstituted.
The nominees are Congresswoman Deb Haaland as Secretary of Interior, Jennifer Granholm as Energy Secretary, Michael Regan as administrator for Environmental Protection Agency and Brenda Mallory as Chair of the Council of the Council on Environmental Quality.
Referring to how unified Washington Allies have been in isolating President Putin, Biden stated, "...The Quad is, with the possible exception of India being somewhat shaky on some of this, but Japan has been extremely strong -- so has Australia -- in terms of dealing with Putin's aggression."
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