Reconstruction efforts after the Russia-Ukraine war will be dominated by the heft of the membership of major nations across international organisations. India is hamstrung because it does not play host to any major global institution nor does it hold positions of significant influence in the ones in which it has membership. As a result, the world's sixth largest economy is obliged to follow the rules set by most of them.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
Speaking at the State Banquet hosted in the honour of President Pranab Mukherjee, Namibian President Hage Geingob said Namibia commends India's commitment towards peaceful use of nuclear energy.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
Gross non-performing assets of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
Noted economist Arvind Subramanian is favoured as the choice for the government's Chief Economic Advisor (CEA).
Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in the negative zone or near zero in the current fiscal.
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
'Whatever else may or may not happen, China and its people are likely to pay a very heavy price for the lack of transparency of its Communist regime,' predicts Colonel Anil A Athale (retd).
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
The G-20 leaders under the chairmanship of Saudi Arabia's King Salman held an extraordinary video conference in which they resolved to use all available policy tools to minimise the economic and social damage from the pandemic that has killed over 21,000 people and infected more than 470,000 globally.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
India will have the presidency of the BRICS' $100 billion New Development Bank for six years with headquarters in China that will become operational in about two years, a major step for reshaping the international financial system dominated by the West.
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
A two-year extension at the helm of the RBI still looks a real possibility
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
Swamy had also claimed that Rajan was "mentally not fully Indian" and alleged that he has "wilfully" wrecked the economy
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
'There are lots of low hanging fruits and often no real impediment to plucking them.'
The members of Association of Southeast Asian Nations are Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Brunei Darussalam, Singapore, Cambodia, Lao PDR and Myanmar.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
The global economy, which gathered momentum in 2013, would continue to strengthen in 2014, largely because of improvements in the advanced economies, the International Monetary Fund Chief Christine Lagarde has said even as she expressed concern over the rising risk of deflation.
Germany is now sitting on a mountain of savings.
'We should look at is full year's growth rather than quarter numbers.'
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
In April and May, there were additions by RBI of 600 kg and 900 kg. RBI's total gold holding is now 561.9 tonnes.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
The world's two largest economies, the United States and China, will again win most gold medals at the Olympics and Britain will push Russia into third place in the overall standings, Goldman Sachs predicted in a survey released on Monday.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
The Indian economy is expected to grow around 10 per cent during the current financial year on the likelihood of fewer COVID-19-linked supply disruptions and buoyancy in the global economy, said Poonam Gupta, director general of economic think-tank NCAER. The real challenge, however, would be to sustain a growth rate of 7-8 per cent in years to come, she said. "We could see annual growth in the ballpark range of about 10 per cent. "The reasons for this perceived optimism are: fewer supply disruptions; increased pent-up demand in the traditional and contact-intensive services; and a buoyant global economy.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
