The International Monetary Fund has lowered India's economic growth forecast by 1 per cent to 5-6 per cent for 2012-13.
The Reserve Bank of India hiked key interest rates by 0.25 per cent each in the last two reviews to tame inflation.
He will pitch for American investment in Indian business opportunities.
Rating agencies Crisil and Icra on Monday revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output. Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. "We have revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.
It will depend on how the Fund chooses to deploy its newfound power, asks Dani Rodrik.
It will take 1/10th of the current expenditure on subsidy to benefit the bottom 40 per cent of the population, according to Laura Papi, Assistant Director, Asia and Pacific Department at the International Monetary Fund.
Given that the public is no longer willing to tolerate lack of transparency, politicians will see they have no alternative but to change, feels Raghuram Rajan, economic advisor to the prime minister. Interestingly, Professor Rajan made this hard-hitting speech at an event to release a book in Prime Minister Manmohan Singh's honour.
FM's top adviser Raghuram Rajan had earlier said that the target was tough to meet.
The reserves nearing $ 428 billion can take care of imports for almost 10 months, according to market experts.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Apart from Lagarde, Mexican central bank governor Agustin Carstens and Kazakhstan's central bank governor Grigory Marchenkois are in the fray for the IMF managing director's post which fell vacant after the ignominious exit of Dominique Strauss-Kahn last month.
Potential growth in India is 8 to 8.5 per cent, says Kalpana Kochhar, World Bank's Chief Economist for South Asia.
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.
The IMF said in its latest report that the global economy is likely to grow at a slower rate than previously forecast over the next two years.
Moments before he was taken off a France-bound flight last week, Strauss-Kahn reportedly told the flight attendant, 'what a nice a**' or in French, 'Quel beau cul!', The New York Post reported.
Revising its economic outlook, International Monetary Fund (IMF) today marginally brought down India's growth rate projections to 5.6 per cent for this fiscal and 6.3 per cent for the next financial year.
'Investors need to expect steady returns over the next one to two years with bouts of high volatility.'
Indian economy is expected to grow at decade low of 4.9 per cent in 2013-14.
Pointing out that global economy continues to vulnerable, the declaration issued at the end of the two-day G-20 summit in Los Cabos said, "this effort (to provide $450 billion to the IMF) shows the G-20 and the international community's commitment to take the steps needed to safeguard global financial stability and enhance the IMF's role in crisis prevention and resolution."
The IMF has encouraged both the UK and the EU to work collaboratively towards a smooth transition.
Justice Douglas McKeon of the New York State Supreme Court in the Bronx here announced at a hearing on Monday that terms of the settlement reached between Strauss-Kahn and Nafissatou Diallo will remain confidential.
India can now, if required, borrow up to $30 billion a year, up from $6 billion, from the International Monetary Fund for a three-month period which can be renewed twice more in 3-month cycles.
In an interview with the Financial Times following an assassination attempt this month, Khan said he no longer 'blamed' the US and wants a 'dignified' relationship if re-elected.
The RBI issued a fairly gloomy forecast in its monetary policy statement last Friday.
Maharashtra has the highest debt among all states in India.
West Bengal Chief Minister Mamata Banerjee on Tuesday alleged that the Bharatiya Janata Party-led government at the Centre was not disbursing funds under the PM-Kisan scheme to peasants in the state despite the Trinamool Congress administration having sent the verified names of farmers to it.
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.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
At the IMF, India is expected to link announcement of additional resources to the IMF to the implementation of 2012 quota reform.
'A stable and strong Pakistan with an anti-India mindset and hatred is not good for us.'
According to the finance minister, India was compliant with most of the internationally accepted standards in banking, securities markets and insurance sector.
The lawyer for hotel housekeeper Nafissatou Diallo also met with prosecutors briefly.
The managing director of the International Monetary Fund, on a two-day visit in New Delhi, was speaking at a conference on growth aspects of Indian and Chinese economies.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The warning being issued by many respected economists to governments across the world has been as follows: do not declare victory too soon since the path ahead is a very long one.
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.
'We should look at is full year's growth rather than quarter numbers.'
FCAs decreased by $3.56 billion to $325.03 billion.
The United States reigns supreme as the world's economic superpower.
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