ICICI Bank has successfully raised $1 billion through a five-year senior unsecured US dollar bond, marking its first public dollar bond issuance since 2017 and the largest single-tranche US dollar bond issuance by an Indian issuer so far this year.
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
'We have seen that stablecoins lack the basic attributes of money, their advantages are neither unique nor unambiguous and their risks are all too real.'
India had vehemently opposed Asian Development Bank's decision to grant $800 million loan to Pakistan saying the fund could be misused for increasing expenditure on its military, government sources said.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
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".
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
Now that the economy is growing at a higher-than-expected rate, it is time to accelerate the pace of fiscal consolidation, and the Budget could be a good starting point, argues Rajesh Kumar.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
Although the first woman to hold the position of chief economist at IMF, it would be wrong to see her appointment through the lens of gender
'For the common man, the economic conditions are not going to get better.'
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
Foreign Direct Investment into India rose by 13 per cent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the Covid-19 pandemic, India and China "bucked the trend", the UN has said.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
India's fiscal deficit trends are a bit like an alcoholic trying, unsuccessfully, to reform. Virtue does not last for too long, says Shankar Acharya.
India's economy is forecast to grow at 4.8 per cent in 2013, down 1.3 per cent from its earlier projection, the UN's World Economic Situation and Prospects 2014 report said.
Pushback to Modi govt's policy pronouncements has already started, it now has a very small window of opportunity to bring in reforms.
The concept of social security is experiencing a renaissance in developing and emerging markets.
Total fuel subsidies accounted for less than 1 per cent of GDP and under 3 per cent of total government expenditures in FY14.
Jaitley's Budget has the potential to change the face of Modi's Bharat
Rajan tells RBI colleagues he will be returning to academics
Modi govt must implement few policy measures which it announced in Budget 2015.
'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.
Getting the balance between fiscal restraint and growth-contracting policy remains a problem.
The finance ministry and RBI must get less conservative and improve co-ordination.
IMF attributes the slower growth rate to supply-side bottlenecks.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
The industry's reactions to the Budget have been mixed.
Mr Modi must stop talking, and start writing
Growth in India will pick up from current levels, says LEO Puri, managing mirector, UTI Asset Management Company.
