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.
'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 growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
He was most recently credited as one of the brains behind labour law reforms in Rajasthan
Disagreeing with Reserve Bank's projection on the price situation, former RBI Governor and PM's Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.
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.
In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
'We can go somewhere between 35 per cent and 40 per cent.'
The former finance minister was in Mumbai to address Congress party's poll rallies.
Economists want the government to focus on jobs, farms, and fiscal consolidation. They also favour re-imposition of the long-term capital gains tax on listed securities and mutual funds.
It is time the government cast its net wide for seeking expert advice on managing the Indian economy and formed a group to help it navigate the difficult days ahead, advises A K Bhattacharya.
The global rating agency expects the economy to pick up in the next two financial years.
Experts believe scrapping some projects is likely to bring some stability in road sector.
'We are looking at the Budget with the hope that it will address all issues even at the cost of exceeding the fiscal deficit target.'
There are various estimates of India's debt to GDP ratio, but the consensus is that that it would be over 80 per cent at the end of the current fiscal year.
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.
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.
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
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Prime Minister's key economic advisor C Rangarajan on Friday lowered the growth forecast for the current fiscal to 5.3 per cent from 6.4 per cent projected earlier and listed out host of measures, including further liberalisation of FDI norms to improve economic condition.
It appears the row over the article penned by senior Bharatiya Janata Party leader Yashwant Sinha refuses to die down.
Five longtime Republicans -- K V Kumar, Puneet Ahluwalia, Suhail Khan, Ajay Kuntamukkala and Harry Walia -- have been named to the GOP's Asian Pacific American Advisory Council.
An official said that people in the government were aware of the benefits as well as the drawbacks of issuing overseas sovereign bonds, and there will be consultations with all stakeholders.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
The Congress on Saturday released its election manifesto for Telangana, promising socially-inclusive growth with focus on jobs and social justice and a three-pronged approach for building the new state.
'He told senior journalists a few days after the Babri Masjid demolition, 'Jo hua theek hua. Maine isliye hone diya ki BJP ki rajniti hamesha ke liye khatam ho jaye.'
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
Efforts to normalise trading relations expected during the first such meet on Saturday
Most economists were of the view that the NSSO should release the data, as any move to withhold it will dent the image of country's statistical system.
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.
With the unanticipated floods across Tamil Nadu catching the unprepared administration unawares, Stalin finds that some of the early positives that had rubbed on his initiatives have been lost, observes N Sathiya Moorthy.
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
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.
At the pre-Budget meeting at Niti Aayog, Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy. The participants urged the government to focus on credit expansion, exports growth, governance of PSBs, increasing consumption and job creation.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
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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.
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.
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.
Rangarajan said that growth has many dimensions to it.
There is a need for tax reforms in the country in a bolder way, Singh said.
Economists have cautioned that any deferment of the government's fiscal goals would prove counter-productive and raise the interest payment burden.
