With an aggressive Opposition and unyielding government, important legislation could be the biggest casualty, as details of the helicopter contract surface.
'If credit is not available, people will postpone buying. That's what has happened.'
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
Investors with stalled projects and mounting bad debt will refinance their loans.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
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