While experts' views are divided, the move is aimed at improving the coordination between the government and the regulator.
Rajan is an acknowledged academic, author and intellectual. He spoke on issues which are in the public domain, said Chidambaram
Terming the 23.9 per cent fall in economic growth in the June quarter alarming, former Reserve Bank Governor Raghuram Rajan has said bureaucracy should come out of complacency and take meaningful action. The current crisis requires a more thoughtful and active government, he said, adding, "Unfortunately, after an initial burst of activity, it seems to have retreated into a shell."
As the global economy sways into uncertain territories and domestic prices almost certain to rise, Raghuram Rajan's ideas would have come in handy.
'The government and corporate sector must join hands to implement action which allows all of India to develop. It would be good for the corporate sector in the long run.' 'It is not that talent is a monopoly of a few castes who have been privileged over centuries. Talent also exists in other groups. They need opportunity and exposure,'
Timothy Geithner, chosen for the post of Treasury Secretary by President-elect Barack Obama failed to pay federal taxes worth over 34,000 dollars for several years, a media report says.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
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Companies are legally allowed to invest in markets in India, but the practice has seldom stirred central bank concern until recently, when they have become much more active players.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Senior Congress leader Jairam Ramesh also asked the RBI to make public details of FDI inflows from Cayman islands since demonetisation.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
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.
Not only were Urjit and Rajan outsiders, they also hired laterally, bypassing the existing talent, especially in the field of economics
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
India's Right-wing has sought to own our democracy by making itself appear the stuff of majority, and sometimes, a national ethos older than the Constitution on which our democracy is based, argues Shyam G Menon.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Inflation targeting has worked well and the government must stay with it, and the framework is going to work well in the period ahead also, former RBI Governor D Subbarao said on Thursday. He also said low inflation contributes to sustainable growth. Addressing the 'Times Network India Economic Conclave' virtually, Subbarao said the government's proposal to privatise some public sector units is not akin to selling family silver but it is a route for putting India on a sustainable growth path.
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
Upcoming payment banks will lift lower income groups in distant villages.
The ministry sought to allay the rating agency's concerns and said economic growth was on an upward swing.
The RBI is understood to be dithering since it would want more clarity on the cost of the fiscal policies the new government would undertake before it decides to cut rates, even though it has pencilled in a lower gross domestic product growth rate for this fiscal year.
Strong dollar will impact financial system in India.
Sahoo panel suggests India must ease global borrwoging norms for corporate houses.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
The panel will also recommend a fiscal consolidation road map for the central and state governments, study the impact of GST on the divisible pool, and propose performance-based incentives for states.
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.
A number of listed companies are not to be found on their registered address. The stock exchange has also been unable to contact them through other means. These 50 companies had been suspended for violations for more than six months. The BSE had reached out to them with show cause notices in December 2020.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Since end-May there has been volatility in the foreign exchange market.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
It also recommended that the RBI accounting year (July-June) may be brought in sync with the fiscal year (April to March) from the financial year 2020-21 as it could reduce the need for interim dividend being paid by the central bank.
He speaking in New Delhi on the occasion of release of a copy of India's Rurural Infrastructure Report prepared by National Council for Applied Economic Research (NCAER).
The Economic Survey has acknowledged the measures taken by the UPA government on the macro stabilisation front and the successes achieved in containing the current account deficit and reducing the fiscal deficit.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
The Indian economy is likely to grow at over 7 per cent in the current fiscal year, former Niti Aayog vice chairman Arvind Panagariya said on Wednesday, while observing that the growth rate should sustain next year too provided the forthcoming Budget does not have any negative surprises. Panagariya further said recessionary fears have been around for a while but so far neither the US nor the EU has gone into recession. "From the viewpoint of India, in terms of headwinds originating abroad, the worst is probably behind us," he told PTI.
RBI Governor Raghuram Rajan plans to write on 'academic issues' after leaving the Reserve Bank.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
'Banking is a business of trust.'
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
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