The G24 did not agree with the proposed IMF framework for staff advice to member countries on managing capital flows and its inclusion in fund surveillance.
The Bombay Stock Exchange's benchmark 30-stocks index -- the Sensex -- tumbled by over 500 points on Friday on fears that the Reserve Bank of India will increase interest rates to curb surging inflation.
Striking a peace cord on the eve of New Year, Chinese President Hu Jintao on Friday said that Beijing would strive to work for welfare of people all over the world while transforming its export dependent growth model with "proactive" fiscal and "prudent" monetary policies.
Thanks to Rajan we are an inflation-targeting country now
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency. In its preliminary assessment report titled 'COVID-19 and world of work: Impacts and responses', the International Labour Organization (ILO) calls for urgent, large-scale and coordinated measures across three pillars -- protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
India has no option but to shut China out, notes T C A Srinivasa-Raghavan.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
Monetary tightening to contain overheating as well as inadequate infrastructure is likely to slow down India's growth to moderate 8 per cent next fiscal against the expected 9.2 per cent, the Asian Development Bank has forecast.
Reserve Bank of India Deputy Governor Viral Acharya is the eighth economist to quit since the Modi government took office.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
He also said that post demonetisation, black money, which was part of a parallel economy, has now become part of the formal system.
India needs to shed its policy of lethargy and inhibitions to engage the Taliban with an intent to maintain its influence in Afghanistan. This would not just put a spanner in Pakistani designs, but also incentivise the Taliban not to be the puppets of GHQ, Rawalpindi, asserts Colonel Nikhil Apte (retd), who served on the Af-Pak desk at the Military Operations Directorate.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
The rise in food inflation has been mainly on account of 58.58 per cent rise in prices of vegetables in the wholesale market.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
Banks might reject your loan application if you defaulted on your telephone or electricity bill, soon.
The letter was sent as an early warning of what was then widely being perceived as a plunder of national resources.
Raghuram Rajan is correct -- the RBI's monetary response to inflation in the past has been too weak.
Will RBI chief have the final say, in the form of a veto
'Unless we start making the products we need, we cannot become a developed country or call ourselves an economic power.'
However, the economy expanded by 7.9 per cent in the second quarter from 6.1 per cent in the previous quarter, giving hopes of durable economic rebound.
The Indian Met Department has predicted a below normal monsoon.
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
'There are lots of low hanging fruits and often no real impediment to plucking them.'
