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.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
The terms are the same as those suggested by a panel headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan for awarding future oil and gas block contracts.
Says licensing of new banks should be a continuous process instead of the current stop-go system
Country's economic growth at 9% requires exports to rise by around 20%, says NSC chairman Pronab Sen
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
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The CPI(M) on Thursday slammed the Planning Commission estimates on poverty levels in the country, saying these made "a mockery of life and death struggles" of the people, amidst continuous rise in prices and "massive" slashing of subsidies for the poor.
Experts believe scrapping some projects is likely to bring some stability in road sector.
Govt notification on $8.4 a unit price likely by month-end
Road developers hoping for early relief from the government will have to wait longer.
Since 2004, Montek Singh Ahluwalia, one of the commission's longest serving deputy chairmen, has been trying to mould it to fit into the new economic order, without much to show for his efforts.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan may have found the Reserve Bank of India (RBI)'s inflation projections on the higher side, but independent experts agree with the central bank and expect both wholesale and retail prices to remain high.
'We can go somewhere between 35 per cent and 40 per cent.'
The global rating agency expects the economy to pick up in the next two financial years.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
In 2012-13, the Centre managed to cut fiscal deficit to 4.9% of GDP, lower than the Budget revised estimates of 5.2%
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
If the EC decides to put on hold a gas price revision for RIL, it would set a precedent for pricing decisions of the government and policy decisions taken but undergoing procedural delays.
The Supreme Court on Friday granted six weeks time to Mukesh Ambani's Reliance Industries Ltd (RIL) to respond to the final CAG report which found alleged irregularities including in payments made to the contractors on drilling of D6 wells at the Krishna-Godavari basin.
This has spelt trouble for the mills. Most of them are unable to pay the farmers.
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.
The state government has formed two committees under the chief secretary and the cane commissioner on the matter.
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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