As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
At the IMF, India is expected to link announcement of additional resources to the IMF to the implementation of 2012 quota reform.
Union Finance Minister Pranab Mukherjee has brought about a coup in North Block by bringing an Indian Foreign Service officer Venu Rajamoni as Joint Secretary to head multilateral institutions division.
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
Gold buying by central banks surged to 60 tonnes in October, mainly led by the Reserve Bank of India (RBI) which added 27 tonnes of the precious metal to its reserves, the World Gold Council (WGC) said on Thursday. India added 27 tonnes of gold in October, bringing its total gold purchases to 77 tonnes from January to October, according WGC data based on reported monthly data from the International Monetary Fund (IMF).
Structural reforms, pro-people programmes and employment opportunities helped the economy get new vigour, the finance minister said. After contracting by 5.8 per cent in 2020-21, the economy recorded a growth of 9.1 per cent in 2021-22.
Ahead of the annual meeting of the IMF and World Bank here, a top US official indicated on Tuesday that greater representation of emerging economies in the bodies hinged upon their acceptance of greater accountability for the impact of their decisions on the global economy.
India will place restrictions on foreign direct investment (FDI) in the national interest to ensure safeguards because of its location in a highly sensitive neighbourhood, Finance Minister Nirmala Sitharaman said during an interactive session at the Wharton Business School in the US on Tuesday. "I cannot blindly accept FDI simply because we need investment, unmindful of where it is coming from. "We want business, we want investment, but we also need some safeguards, because India is located in a neighbourhood that is very, very sensitive," Sitharaman said.
When Pandit was in Japan last week, meeting International Monetary Fund and World Bank officials, Michael E O'Neill, the new chairman of Citigroup since April, was applying the final touches of his masterplan to remove Pandit.
If India can fast utilise currency flows for long-term projects, the regulatory regime could be more liberal.
"At 11 per cent of GDP, the fiscal deficit is too high. Growth can be fast if deficit is down and faster if reforms continue," says Nicholas Stern, ex-chief economist, World Bank.
Pakistan is not raising revenues to the optimum extent. The tax to the GDP ratio is below 10 per cent.
The US' influence on a European CEO-headed multilateral institution is out of sync.
International Monetary Fund managing director Dominique Strauss-Kahn on Thursday said he favoured new heads of the World Bank and the Fund to be from countries other than Europe and the United States.
Pranab said he had clarified this issue in no uncertain terms with US Treasury Secretary who had brought up this issue during bilateral talks.
'The inflow of FII or FDI has not distorted the market sentiments and therefore there is no question of putting any curbs.'
Raghuram Rajan says he's not beholden to the Finance Ministry nor does he go around with the fear of being fired.
He will pitch for American investment in Indian business opportunities.
International Monetary Fund has warned emerging markets, which have so far weathered the ongoing financial crisis, that they may not be completely insulated, while noting that risks to India's financial sector appeared manageable. The top international organisation has raised the assessment of market risks for the emerging markets including on capital flows. It said that despite generally strong external positions, some concerns have arisen about dollar funding in Asia.
Finance Minister Pranab Mukherjee also asserted there's been no pressure by the United States for India to enact financial sector reforms, particularly in the banking and insurance sectors, on the eve of President Obama's visit.
The International Monetary Fund (IMF) has slapped 11 new conditions on Pakistan for the release of the next tranche of its bailout programme and warned that tensions with India could heighten risks to the scheme's fiscal, external, and reform goals, according to a media report on Sunday.
A national religious council should manage temples and places of historical and cultural relevance to the followers of all Indian religions, says Pramod Kumar Buravalli.
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
Finance Minister Jaswant Singh will not attend the spring meeting of International Monetary Fund and World Bank, starting in Washington on March 20.
Potential growth in India is 8 to 8.5 per cent, says Kalpana Kochhar, World Bank's Chief Economist for South Asia.
The meeting, on the sidelines of the Annual Spring session of the International Monetary Fund and World Bank, will happen within a couple days of about a dozen US industry associations writing to the US Treasury Secretary to take up the controversial move by India to amend the Income Tax Act with retrospective effect.
The weather in Washington is balmy, but Finance Minister Pranab Mukherjee, in the US to attend a meeting of the International Monetary Fund and the World Bank, would feel a distinct chill as he readies to meet corporate America.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
This week's Group of 20 meeting already has a packed agenda: maintaining demand, repairing the global financial system and increasing the International Monetary Fund's resources.
Finance Minister P Chidambaram will woo foreign investors to invest in India as he begins his nine-day visit to the US on Tuesday.
The four-day tour, beginning September 21, includes World Bank-International Monetary Fund meetings, as well as interactions with investors.
This year's deliberations, on October 9-14, come in the backdrop of the persisting crisis in Europe and the US and its apparent effects on India, China and other countries supposedly driving growth.
The International Monetary Fund (IMF) and the World Bank (WB) has said the current global economic crisis is turning into a human calamity as it has hit millions of poor people across the world.
More and more students are going to colleges abroad to get international exposure. Here's how to plan and live your dream.
The International Monetary Fund head Dominique Strauss-Kahn has said that the global economic recovery is fragile and remains uncertain as not enough jobs are being created.
Most south Asian nations will fall short on the Millennium Development Goals, a set of eight globally agreed development goals due to be achieved by 2015, a study by the World Bank and International Monetary Fund said.The report has warned that developing countries stand to suffer the most from climate change and the degradation of natural resources.
