Rajan said it was important that the government and the RBI be vigilant to the growth scenario.
Indian Railways has to up investment to strengthen network just like China and Russia.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
For Duflo and Banerjee, an important part of their work has been ensuring that the agency of the "beneficiaries" -- usually, in developing countries like India, poorer individuals -- is put at the centre of any policy design. This is a crucial way in which experimental results are often better than large scale data-based inference, says Mihir S Sharma.
The ministry is likely to go by the recommendations of a committee on liberalising external commercial borrowings, headed by M S Sahoo, a former director with the Securities and Exchange Board of India.
'You can never bring about a change if you only bring in outsiders. Consultants will never feel what changes are necessary and where,' says Railway Minister Suresh Prabhu.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
Existing units stay operational; those approved may not be notified, land could be used for other purposes
This Budget plans for an increase to 10.3% of GDP from 9.9%.
Govt reconstitutes body, says will not interfere in senior PSB appointments
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
The GST will replace more than a dozen levies central and state levies, including central excise duty, service tax and central sales tax as well as VAT on sale of goods and entry tax, to make movement of goods seamless across 1.3 billion market.
The interest money which is not claimed by people due to religious obligations is kept in suspended bank accounts.
One crucial revenue source that can help the government achieve its fiscal-deficit target is the proceeds from the sale of its stakes in public sector companies.
The broad direction for the reform process will continue to be positive.
The Budget sets out a comprehensive vision.
Moody's listed six agenda on the list of pending reforms -- land acquisition Bill, labour law reforms, significant infrastructure investment, tangible benefit from Make in India initiative, tax administration and PSU bank reforms
In less than a week of Donald Trump being sworn in as the 45th US President, the "H-1B and L-1 Visa Reform Act" was introduced to prioritise American workers and restore fairness in visa programmes for skilled workers.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
'What is the ISI doing and why can't they understand for their own interest that bringing stability to the region will help all the countries become prosperous, whereas a continuation of incitement will only lead to misery for all.'
It is surprising that central bankers around the world have cautioned the US Federal Reserve against raising rates.
Congestion on Mumbai roads has become chronic.
Amendments to RBI Act likely soon
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
India hit out at China for its remarks that there was no consensus over the United States' proposal to ban Pathankot attack mastermind and Jaish-e-Mohammed is chief Masood Azhar at the United Nations
Raje is likely to meet the BJP top brass amidst mounting opposition pressure for her resignation.
Though not a blockbuster budget it does not undermine the fact that key issues were addressed and the finance minister certainly did not under-deliver, says Vatsal Srivastava.
Two key depts in ministry cold to rationale for one; postal dept says it's more eligible than IDFC or Bandhan, feels 'strong lobby' scuttling its plans.
Inviting private sector in Indian Railways is a good idea.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
The Department of Industrial Policy and Promotion in its draft Cabinet has proposed to further tighten the rules for foreign direct investment in brownfield pharmaceutical sector.
The challenge of cleaning up the taxation system and introducing the goods and services tax (GST) regime cannot be underestimated.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
The principal challenge for Rajan's successor is to work with the Bank Board Bureau and the finance ministry to complete these processes of banking reform.
Summary of sports events and persons who made news on Monday
Government hits back, tells rating agency to introspect on processes.
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