The country's inflation would be on the higher side, Basu said, adding that 'our core inflation, excluding food and fuel prices, is around 5.5 per cent.'
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The Keynesian advice comes after Finance Minister P Chidambaram has said he considers the fiscal deficit at 4.8 per cent of gross domestic product in 2013-14 as a 'red line'.
The RBI working group's proposal to allow corporate houses to set up banks is a 'good-looking' step in a 'bad direction' and may lead to crony capitalism and eventual financial instability, former chief economist of World Bank Kaushik Basu said on Thursday. Basu further said that there is a good reason why all successful economies have a clear dividing line between industries and corporations on the one hand, and banks and lending organisations on the other.
Economist Abhijit Sen, a former Planning Commission member and one of the country's foremost experts on rural economy, died on Monday night. He was 72.
'When Bad Newz was given to me to direct, the first thing I did was go back to my childhood.' 'It's an ode to Hindi cinema.'
In the documentary, Sen speaks of social choice theory, development economics, philosophy and the rise of right wing nationalism across the world including India.
In a conversation with Kaushik Basu, professor in the Cornell University in the United States and India's former chief economic advisor, Gandhi said he is all for internal democracy in the Congress, which fought for India's independence, gave the country its Constitution and stood for equality.
There's a whole slew of sequels coming up, and Joginder Tuteja lists them for us.
When oil prices are very high, cutting down the subsidy results in sharp increase in oil prices.
Filmi folk celebrated Friendship Day by sharing pictures and thoughts with their besties.
Remittances to the developing world are expected to reach $440bn in 2015.
Principal economic advisor, Ila Patnaik, is coordinating the work on Economic Survey 2013-14.
A committee is working on removing complications in the Companies Act.
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
India leads global remittances in the year 2013 with a whopping $70 billion in its kitty, of which USD 65 billion were earned from the country's flagship software services exports, the World Bank reported.
Emerging markets facing 5th year of slow growth: World Bank.
Basu said there are a couple of big ticket items on the agenda.
About Rs 15 lakh crore of high-value notes were scrapped, against which RBI has managed to supply roughly Rs 4 lakh crore worth of notes in the market so far, Anup Roy/Business Standard reports from Mumbai.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
India ranks 130 in ease of doing biz report; jumps 12 spots
Scanty rainfall, last year's lockdown, growing competition from Nepal and the disaster of the 2017 Gorkhaland agitation are steadily weakening exports and sales of Darjeeling tea.
When it comes to issue of women's jobs, there is quite a bit of anomaly in India.
India will catch up with China's growth at 7 per cent during 2016-17, the World Bank has forecast, saying India's economy has recovered in the wake of the economic reform measures taken by the new Indian government, falling oil prices and lower interest rates.
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
Farah shoots with Karan and Manish... Look, who Amitabh has as his guests on KBC... Varun gives us Bhediya...
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
Following another disappointing year in 2014, developing countries should see an uptick in growth this year, boosted in part by soft oil prices, a stronger US economy, continued low global interest rates, and receding domestic headwinds in several large emerging markets, it added.
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
NRIs still send largest remittances than counterparts elsewhere.
Is it time to take a relook at our economic theories? asks Ajit Balakrishnan.
'What is forgotten but is actually as important for a society's long run success is morality.' 'Morals and trust are the nuts and bolts of an economy.' 'Without those you can get short run success, but not long-run development.'
Other large recipients are China ($64 billion), the Philippines ($28 billion), Mexico ($24 billion), Nigeria ($21 billion), Egypt ($18 billion), Pakistan ($17 billion), Bangladesh ($15 billion), Vietnam ($11 billion) and Ukraine ($9 billion).
Namrata Acharya finds out more about a movement aimed at preserving not only the mansions of north Calcutta and the grand colonial buildings of central Calcutta, but also the architecturally modest, yet unique, houses of south Kolkata.
Producer Anand Pandit, who has made such films like Chehre, PM Narendra Modi, Total Dhamaal and Sarkar 3, hosted a Diwali party at his residence, and invited his filmi friends.
Finance Minister Arun Jaitley witll spearhead the campaign with BJP President Amit Shah as its chief strategist.
These figures are based on purchasing power parity of 2005.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
A look at the pictures.
In South Asia, the poverty would fall to 13.5 per cent in 2015.
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