The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
At the same time, banking sources close to the development said the central bank could raise its growth target from 5-6 per cent to 6.5 per cent to accommodate the impact of an improving monsoon and the growth impetus provided through various fiscal and monetary stimulus packages earlier in the year. The cautious outlook on interest rates is primarily to accommodate rising inflationary expectations in the economy.
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.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
Rajan said in order to export, one needs to be able to import things that go into those exports as cheaply as it can.
While most European countries are backing Lagarde, the developing countries are trying to build a consensus on nominating a person from the emerging nations as the next IMF chief.
'Whom do I want to marry and what decisions I make for marrying the person I love are totally personal decisions, in which neither the State nor the courts have any right to interfere.'
410 civil servants in a feedback survey to the Prime Minister's Office said that the curfew should stay till the pandemic is controlled and asked to increase fiscal spending on health infrastructure to around Rs 5-10 trillion.
People who advocate a rate hike because inflation is very high, even without the food component, have in mind some developed-economy structure, Raghuram Rajan tells Business Standard in an exclusive interview.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
The senior Bharatiya Janata Party leader had made the allegation in a tweet on Sunday wherein he had also launched a veiled attack on a sitting Congress MLA, who had shot off a letter to Chief Minister Nitish Kumar, seeking return of Rs 50 lakh released from his local area development fund.
'We will likely be buffeted by tailwinds from the global economy, geopolitical shifts and robust domestic demand.'
IMF chief said the G20 leaders need to respond to the calls for creating jobs.
India is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year).
South and South-West Asia could witness an economic growth of 5.3 per cent in 2015, which will be a four-year high.
The grant will be in addition to the $20 million provided by China, the world's second largest economy, earlier to the WHO.
'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.
"There are indications that the world could be engulfed in another economic crisis, with serious repercussions for the poor and vulnerable. In such circumstances, we need to be prepared to think out of the box and reflect on what are the important issues the World Bank should be addressing," Finance Minister Pranab Mukherjee said in Washington.
Rediff.com spoke to Raghuram Rajan about his book, what enthuses him about the Indian economy, and what are the concerns he has with India's chaotic progress . . .
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
The report said the global economy will lose $12 trillion or more by the end of 2021 despite spending of $18 trillion in trying to stimulate growth around the world.
The reward could vary between 1% and 5% of the total tax paid.
'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.
"The challenge for many emerging and some developing economies (is) to ensure that present boom-like conditions do not develop into overheating over the coming year," the IMF said in its World economic Outlook report.
The anti-terror watchdog has decided to give respite of four months to Pakistan to help her implement remaining recommendations of the task force.
Since December 2018, monetary policy has been eased substantially by RBI with policy rates being cut by 75 bps and policy outlook being changed to 'accommodative'.
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
To avoid it, the economies need to improve govt institutions and liberalise rigid labour markets.
India's economic development has been marred by corruption, says The Heritage Foundation.
As the race for the next International Monetary Fund chief hots up, Finance Minister Pranab Mukherjee on Tuesday said he was in touch with his counterparts from developed and emerging economies on the issue and was keeping a close watch on the developments.
Vehicles are depreciating assets and lose their value over time.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
'We think FY18 will end with a 10 to 12 per cent earnings growth, but FY19 will see a recovery to over 15 per cent.'
To the extent that monetary variables affect investment, the weather, thus, looks far less clement.
India hopes to increase its share in the quotas of multilateral development banks like the International Monetary Fund and Asian Development Bank after major stakeholders in them bring forward the issue of quota review and expanding in accordance with current realities that will give proper representation to the emerging economies.
"GDP growth in India eased to a still strong 8.7 per cent in 2007, from 9.7 per cent in 2006, and is projected to slow further to 7 per cent in 2008," said the World Bank report on Global Development Finance released on Tuesday. World Bank attributed the moderation in GDP to 'monetary tightening in 2007 (that) led to softening in domestic demand'.
The position has been vacant since July after the previous incumbent British Finance Minister Gordon Brown vacated the post after becoming the Prime Minister. Brown chaired IMFC for a decade.
