Rangarajan, who was answering questions on onion prices touching Rs 100 per kg in some cities, said the impact on inflation would not last long.
The government had breached its fiscal deficit target given in the Budget for 2017-18 in November itself, touching 112 per cent of the limit.
BJP's reversals in rural Gujarat has prompted many policy watchers to predict that the Budget would have incentives for the agriculture sector and the rural economy.
The prime minister's office will play the principal role in decision-making.
Budget has laid emphasis on increasing social spends
The size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
The Reserve Bank in its first mid-quarter policy review on Monday kept the key interest rates unchanged because of elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows.
Country's economic growth at 9% requires exports to rise by around 20%, says NSC chairman Pronab Sen
The Reserve Bank on Friday said the economy would grow by 5 to 5.5 per cent in the current fiscal, pinning its hopes on good farm output and improved exports.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
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.
Road developers hoping for early relief from the government will have to wait longer.
Govt notification on $8.4 a unit price likely by month-end
Labour law changes for three years may not be enough as it takes a couple of years for factories to build and operations at a proper scale start only in the third or fourth 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."
According to state government sources, not only did the governor insert some corrections, but he also initialled the final draft after those corrections had been made, reveals N Sathiya Moorthy.
Panagariya has advocated a more liberalised spending, arguing that greater capital expenditure could relax some of the infrastructure bottlenecks facing the country.
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.
On the lines of the Sachar Committee for Muslims, Prime Minister Manmohan Singh has set up a panel to assess the status of Scheduled Tribes, to ensure their progress in socio-economic, health and education fields.
C Rangarajan, chairman, Prime Minister's Economic Advisory Council tells Business Standard that the measures taken by the government will lead to economic growth of at least 6 per cent in FY14 against a decadal-low growth of 5 per cent in FY13.
'The CEA suggested that could be as high as 19 per cent.'
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
Gambhir also took a dig at Qureshi's emphasis on a "new Pakistan" under Khan, saying while the Indian delegation had come to listen to Pakistan's "new" foreign minister outline the vision of a new Pakistan, "what we heard is a 'New Pakistan' cast in the mold of old."
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.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
The NDA government was initially reticent about fleshing out its economic strategy for the future. But now that it has taken enough bold initiatives on the economic front it must have the confidence to tell us more about its approach going forward, says Abheek Barua.
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Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
'The Maharashtrian Congressmen's decision to break away from their reluctant leaders in Delhi to side with the Shiv Sena is seemingly the first sign that the 'high command' is not as powerful as is believed,' says Amulya Ganguli.
Liberian leader Ellen Johnson Sirleaf was on Thursday conferred the coveted Indira Gandhi peace prize by President Pranab Mukherjee who said India will continue to support the African nation in its pursuit of stability and economic growth.
'It's official: we won. I'm going to Albany to fight to tax the rich, heal the sick, house the poor & build a socialist New York. But I can't do it alone. To win socialism, we'll need a mass movement of the multiracial working class as well. So let's build one,' Mamdani tweeted.
United States President Joe Biden and First Lady Dr Jill Biden on Monday hosted a Diwali reception at the White House in what they called the largest since the People's House started celebrating the festival during the George Bush administration.
'The economy may not improve unless you admit there are some problems.'
India might be heading towards a "serious livelihood crisis" as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a nationwide lockdown, according to noted economist Jean Dreze. In an interview to PTI, he also said the government's target to make India a $5 trillion economy by 2024-25 was never a "feasible target" and was just to pander to the "super-power ambitions" of the Indian elite. About the impact of the second wave of COVID on the Indian economy, the eminent economist said the situation today is not very different from what it was around this time last year as far as working people are concerned.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
