Internship Programme, 2008 formulated by the Department of Economic Affairs.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Jaishankar also made it clear that it is in nobody's interest to see a country get into severe economic difficulties, and that too a neighbour.
Engagement with neighbours is a strategic imperative, and not an option, asserts Rup Narayan Das.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
It is in circumstances like this that the Constitution becomes extremely important. It reminds us that we have a commitment towards higher human values to fulfil, a path to get back to, suggests Shyam G Menon.Else, we risk being rudderless in an ocean of money and majoritarianism, suggests Shyam G Menon.
Owing to Finance Minister Nirmala Sitharaman being new to her role, a number of crucial announcements in the Budget bore Garg's imprint, especially the decision to borrow in overseas markets, reduce the fiscal deficit as a percentage of gross domestic product, and resort to off-Budget borrowing to meet that target, says Arup Roychoudury.
The department of investment and public asset management (Dipam) can also seek in-principle approval from the Cabinet Committee on Economic Affairs (CCEA) for strategic divestment of PSUs on a case-to-case basis considering investor appetite and sectoral trends.
No government in the past initiated the process of policy making for its next tenure even before going in for elections. Once the Model Code of Conduct is enforced by the Election Commission, should the government of the day refrain from taking an active interest in policy making for the next five years and let that be the function of the new government?, asks A K Bhattacharya.
Finance Minister Nirmala Sitharaman on Monday said she is awaiting an approval from the Cabinet on bill on cryptocurrency as the proposed legislation is before it. The inter-ministerial panel on cryptocurrency under the chairmanship of secretary (economic affairs) to study the issues related to virtual currencies and propose specific actions has already submitted its report. It has recommended that all private cryptocurrencies, except any virtual currencies issued by state, will be prohibited in India.
India and the US agreed to continue their cooperation in the areas of defence, space and clean energy as External Affairs Minister S Jaishankar met Secretary of State Antony Blinken here, amid a simmering diplomatic row between India and Canada over the killing of a Khalistani separatist.
DEA Secretary Arvind Mayaram is also expected to attend the event.
The airline intends to raise the money to meet its cash flow requirements and had got the shareholders' approval for the same on July 24.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
The Union Cabinet has cleared disinvestment of the country's largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (initial public offering), which is touted to be the biggest public issue in Indian corporate history. The Budget amendments to the LIC Act has been notified and the actuarial firm is expected to finalise the embedded value of the life insurer. Under the embedded value method, the insurance company's present value of future profit is also included in its present net asset value.
This time, Finance Minister P Chidambaram, who attended the first such retreat in 2008, would be present.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
India's infrastructure financing requirements and the new manufacturing policy being finalised will open up $1 trillion opportunities for global investors over the next five years.
There are 'troubling similarities' between US President Barack Obama's financial actions with those of policymakers during the Great Depression in 1930's, a new study has claimed, warning the country's policies might have the potential to consign it to a similar fate as Argentina.
For Yoginder, it is a release from pain. But for us, his friends, it is the loss of a warm and generous life companion, says Nitin Desai of his 50-year association with the eminent economist who passed into the ages on December 6, 2022.
The state's joblessness is three times higher than the national average of 7.8 per cent.
The agency had received Rs 946.51 crore to manage its affairs in the Budget Estimates for 2023-24, which was later increased to Rs 968.86 crore in the Revised Estimates.
External Affairs Minister S Jaishankar on Wednesday held wide-ranging talks with his Russian counterpart Sergey Lavrov focusing on the Ukraine conflict, bilateral ties and issues relating to the G20 foreign ministers' meeting.
The road transport ministry has asked the National Highways Authority of India (NHAI) to ascertain the findings of a report by the World Bank's Institutional Integrity Unit. According to the report, contractors paid bribes and gifts to influence the actions of NHAI officials and consultants.
The scaling up of the India-US strategic partnership to the level of non-NATO ally with defence deals, sharing and transfer of defence technology, interoperability, joint collaboration and joint production of defence equipment has exacerbated Moscow's anxiety, notes Rup Narayan Das.
'It has a natural inclination to foster as much competition among civilian politicians as possible.'
The BRICS nations on Friday underlined the need for using local currencies in international trade and financial transactions besides committing themselves to supporting rule-based open and transparent global trade. A joint statement issued at the end of the meeting of the BRICS Ministers of Foreign Affairs and International Relations, also pressed for a robust Global Financial Safety Net with a quota-based and adequately resourced International Monetary Fund (IMF) at its centre. It further said the process of IMF governance reform under the 16th General Review of Quotas, including a new quota formula as a guide, should be completed by December 15, 2023.
'Their role model is Iran: high control of the citizens by the State.' In Iran it is Islamic control; in India, it will be Hindutva control.'
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
India on Sunday said it stands with the Sri Lankan people in their aspirations for prosperity and progress through democratic means, established institutions and constitutional framework.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The government on Thursday approved setting up of a world-class drug research institute in Lucknow at a cost of Rs 190 crore (Rs 1.9 billion).
FIPB has deferred 18 proposals.
MEA xpokesperson Arindam Bagchi said India continues to closely follow the developments in Sri Lanka and that it is aware of the many challenges that the country and its people have been facing.
Ahead of the G-20 Summit, Planning Commission Deputy Chairman Montek Singh Ahluwalia will lead a delegation to a preparatory meet on March 11 in London where deliberations on issues like liquidity crunch and reforms in international financial institutions are likely be taken up.
Volatility in investments concern for RBI.
