The government on Sunday appointed former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission. Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification. "The President is pleased to constitute a Finance Commission with Dr Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman. Members of the Commission will be notified separately," it said.
The government has retained Arvind Subramanian as its chief economic advisor, unlike other American professors Dr Raghuram Rajan and Arvind Panagariya, who quit their jobs as RBI governor and NITI deputy chairman respectively.
Today, with growth having slowed and macro-economic challenges in every direction, would the government have benefited from the advice of 'Harvard' economists? asks T N Ninan.
"I'm taking a minute to respond... I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in India at a time when the Indian economy was all buoyant," Sitharaman said during the lecture organised by the Deepak and Neera Raj Centre on Indian Economic Policies of the Columbia University.
The government on Friday appointed Suman K Bery as the vice chairman of Niti Aayog, following the sudden resignation of Rajiv Kumar.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
'We don't have to go abroad for anything.' 'Anyone who thinks we have a lot to learn from the US needs to have his head examined.' 'We are in a new era.'
The days of anti-reform, anti-growth advisers that undermined our economy in the UPA-II years will now be strictly behind us: Bhagwati
The government also appointed Dr Vinod Paul, a pediatrician at the AIIMS, as a member of the NITI Aayog
'It is likely the government may opt for an IAS officer.' 'For the government, an IAS officer will be more easy to deal with,' notes A K Bhattacharya.
'We do not want people who are air dropped and who fly out once the job is done.' 'Ever since liberalisation started, we keep on hearing that it's going to be jobless growth.' 'This speaks of the failure of the foreign returned policy makers.' 'When questions are raised, answers should be given and not a resignation.'
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
To mark Prime Minister Modi's seventh meeting with Obama and his historic joint address to US Congress -- the sixth Indian PM to do so -- India Abroad, the newspaper published from New York and owned by rediff.com, reached out to diplomats and strategic thinkers in New Delhi and Washington, DC, to assess the current state of the US-India relationship and suggest a road map for the future.
India's new policy commission has received a makeover and a dream team has been formed to head the Think Tank, NITI Aayog.
The government is beefing up enforcement against tax cheats in real estate sector, says Panagariya
'The time has come to incorporate Indian sociology into economic policy.' 'The first step in that direction would be to listen to economists trained in India and not just the US and the UK, argues T C A Srinivasa-Raghavan.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
'What the government should do to create jobs is to help revive the MSME sector.' 'This sector gives employment to lakhs of people.' 'The MSME sector provides more employment than the big industries.' 'So, what should be done immediately is to revive the MSME sector.'
'...it gets a survey report that they are going to lose elections.' 'The fear of losing elections will make them immediately conduct a caste census.'
Stepped up public expenditure must be accompanied by focused policies, advises Vinayak Chatterjee.
'They are geopolitical, commercial, educational, cultural and about innovation.' 'Also, they are about a common value system.'
The Modi PMO is like none other: It is staffed by people who are so low profile that the only dominant personality is the Prime Minister's.
'Life will not improve overnight; it will happen in a gradual manner.'
Businessman P C Mustafa wants Indian Americans to return home, Cognizant CEO Francisco D'Souza outlines how Indian tech companies could grow, Gaurav Dalmia has some investment recommendations while Subramanian Swamy warns that India is flirting with a debt trap.
If people can lobby me for making changes in policies that goes against the country's interest, I won't keep myself in this position, says the vice chairman of NITI Aayog.
'Poor home work, and a subsequent loss of nerve.' 'This sums up the Modi government's current travails, the stall in key sectors, fading momentum, irritability,' points out Shekhar Gupta.
'A lot will depend on the first Aayog and the power it derives.'
In the second and concluding part of his interview, Gurumurthy outlines the two areas he believes the government should focus on.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
'Growth is predicated on the misery of large sections of people.' 'Maybe Hindutva will be used to suppress any such unrest.'
'Modi as the PM of the country has to take everybody on board and deliver on good governance. That is his responsibility. In that talking alone won't help, he's working.' Commerce Minister Dr Nirmala Sitharaman tells Sheela Bhatt/Rediff.com how the Modi government plans to change India.
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