The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
Former Prime Minister Manmohan Singh was a brilliant economist with a visionary outlook on India's potential, combined with a fine sense of political feasibility, former RBI Governor Raghuram Rajan said on Friday. Singh, the architect of India's economic reforms, passed away here late on Thursday at the age of 92.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
History shows that confidence is at its highest just before a fundamental change occurs.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
The word 'balancing' seems to be a favourite of Reserve Bank of India Governor D Subbarao.
The finance ministry's tenancy rights to the RBI governorship distort policy and regulation.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
The new rates, which are likely to be at $8-8.4 against the current price of $4.2 per million British thermal unit, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily's predecessor, S Jaipal Reddy.
'We can go somewhere between 35 per cent and 40 per cent.'
Ahead of the inaugural edition of the Women's Premier League, Royal Challengers Bangalore named Ben Sawyer as head coach.
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The stock market responded to his speech by going up by over two per cent; the rupee also gained in strength, by about 1.45 per cent, against the dollar.
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.
After Rahul's Bharat Jodo Yatra began criss-crossing the Hindi heartland, BJP leaders have revived their attacks on 'dynasty politics' and 'family rule' in the Congress, points out N Sathiya Moorthy.
Dr Singh sent a signal to Mumbai markets on Wednesday that he meant business -- to first understand, then act. "Wait and watch," a source in PMO said that many changes are expected soon in North Block. He will be visiting North Block next week to the office of Finance Minister in order to meet the junior officials.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
A study has singled out poverty and growth as the biggest hurdle facing Kashmir.
With the Presidential nomination of legal luminary K Parasaran -- a decision by Prime Minister Manmohan Singh -- the Rajya Sabha has now four Iyengar Vaishnavites, beginning from Jairam Ramesh, Dr V Maitreyan and Communist Party of India-Marxist MP T K Rangarajan.
Prime Minister Dr Manmohan Singh has convened a meeting of senior ministers on Tuesday to discuss the recommendations of the National Advisory Council on the Food Security Bill.
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
The government will implement recommendations of the committee chaired by Dr C Rangarajan, chairman of the Economic Advisory Council, to the prime minister, when it submits the final report.
'If the government starts playing favourites, if the government acts in a manner which is not transparent, then natural resources which belong to not just you and me, but future generations, they fritter away. The anger against corruption, the anger against India's natural resources being looted is a consequence of the fact that within society there is a huge amount of turmoil and discontentment. Why should an Empowered Group Of Ministers or the Cabinet Committee on Economic Affairs decide the administered price of gas?' asks Paranjoy Guha Thakurta in this exclusive interview with Rediff.com's Sheela Bhatt.
The Prime Minister's Economic Advisory Council has scaled down its growth projection for the Indian economy for 2007-08 to 8.9 per cent from 9 per cent on account of slow expansion in manufacturing and energy generation. Dr C Rangarajan, head of the group of economists released the review of the economy of 2007-08 and said that the economic growth of India would be hovering around 8.5 per cent during 2008-09.
However, the prime minister has told confidants that he was unable to do justice to the foreign affairs portfolio and admitted the need for a full-time foreign minister.
Amidst Finance Ministry raising prospects of forcing Reliance Industries to sell gas at old price of $4.2, Oil Minister M Veerapa Moily on Thursday said there was no rethinking in the government on the decision to double gas rates from April 1, 2014.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
'Let us also not expect that there will be a clean break with the past, much though the new government might like to think about it. In a functional democracy that is neither feasible nor desirable. But basic change it must be,' says Shreekant Sambrani.
V P Duraisamy's exit will in no way upset the poll scene in western Tamil Nadu, says N Sathiya Moorthy.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
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