Cricket icon Sunil Gavaskar celebrates a magnificent 75th birthday on July 10th. Rediff.com picks 15 facts about Sunil Gavaskar you need to know:
Central bank governor says the devaluation like China or Japan is neither feasible nor a good strategy
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
Rediff.com did a word cloud analysis of the governor's speech.
He takes over at Mint Road at a time when the governor's job is even less easy than it is normally.
'For a large vibrant economy like India's, there is always hope. We still have tools to tackle our problems. But we must exercise those tools with vigor and a sense of urgency.' Professor Raghuram Rajan, the celebrated economist who will be the Reserve Bank of India's next governor, revealed what India must do to start growing again in this memorable speech last year. Can he now deliver results?
Only time will tell whether an individual like Rajan would be able to influence the manner in which the Fund looks at the rest of the world, especially developing countries.\n\n
The industrial output for the third month in a row remained in the negative territory, contracting 1.5% in January
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
Raghuram Rajan optimistic about passage of GST
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
Expectations are high. There is a little bit of euphoria in India, says RBI governor.
'I yet again implore you to start working as a team for the betterment of the athletes and the Olympic Movement in India.'
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
'The 'Off-with-Rajan's-head' brigade bases its arguments on mistaken beliefs, erroneous causalities, and even downright prejudice.'
No question of going back on IOA CEO's appointment, says PT Usha
The lack of clarity on who is next in line, when the time comes, as indeed it will one day some day, reflects poorly on the management of the world's largest political party. It scarcely need be said that a squabble between the contenders, Shah and Yogi, is exactly what the doctor ordered for the Opposition, notes Krishna Prasad.
Never one to mince words, Rajan will walk away with a mixed legacy
Industrial countries cannot at this point wash their hands off developing economises and say we will do what we need to, and you do the adjustment you need to, says RBI Governor.
'The prime minister's comment on 'revdi culture' was welcome. But I am disappointed he did not follow up on that.' 'All political parties, including the BJP, have been guilty of this.' 'Now, Modi's guarantees, the Congress's 'nyay' path and both ruling and Opposition parties are vying with each other for freebies in my home state Andhra Pradesh.'
India's consumer inflation should ease in the next two months, and will fall to 8 per cent by the end of the year, says RBI Governor Raghuram Rajan.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
RBI kept all key rates unchanged in its policy review on Tuesday.
When asked if he sees himself back in Chicago, he said, "Yeah, Chicago has been kind to me over my history".
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
Former Reserve Bank Governor Raghuram Rajan said India will still remain a lower middle country if the potential growth rate remains at 6 per cent annually without any rise in population by 2047 (Amrit Kaal) and will be reaching the end of the demographic dividend by then. Speaking at a programme organised by Manthanon on Saturday, the economist said if the country does not grow faster, it will grow older (demographically) before it gets richer, which means there is the burden of an aging population to deal with also at that point. Rajan said the GDP growth in India for the past two quarters was in the region of 7.5 per cent and if one looks at the labor force participation, it is very low and when it comes to female participation, "it is the lowest in the G20".
Rajan will evolve a policy with the help of professional persons for a national consensus if we have to carry on with implementing social and economic changes in a complex economy.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Rajan, who has also served as chief economist at the International Monetary Fund (IMF), said he had no idea what statistics are pointing at currently and "a revamp" was needed "to really figure out what India's true growth rate is".
'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
It would be beneficial for the economy to hold on to high interest rates till inflation numbers are under control.
The satta market is accepting bets on how many times Modiji will mention Nehru at his election rallies, says A Ganesh Nadar with a wink.
Raghuram Rajan's 'surgery' uncovers more bad loans
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
"I am an Indian citizen, I have always been an Indian citizen. I always held an Indian passport. I held an Indian diplomatic passport when my father was in the foreign service and when I travelled on behalf of the ministry of finance," Rajan said.
Kumar said that while the rise in percentage of population of the deprived castes has led to increase in the quotas for SCs, STs and OBCs from 50 to 65 per cent, his government also planned to undertake a number of welfare measures for the benefit of "94 lakh families", which according to the survey lived in abject poverty.
