It is thanks to the policy of liberalisation conceived by Manmohan Singh and enforced by P V Narasimha that the Indian economy has now become the world's 5th largest economy by nominal GDP, asserts Dr Sudhir Bisht.
India's external debt rose by 16.46 per cent to $261.4 billion at the end of 2009-10 on the back of an improved liquidity in the global financial system along with an additional allocation of special drawing rights of the International Monetary Fund.
The International Monetary Fund has said that it expects India's economic growth to accelerate and inch closer to that of China.
The downgraded World Bank forecast follows a similar move by the International Monetary Fund, which cut its growth forecasts two months ago
The Narcotics Control Bureau (NCB) on Saturday said it has arrested Jaffer Sadiq, a Tamil Nadu-based alleged dealer of narcotics, in connection with an international drugs trafficking investigation case.
Finance Minister Jaswant Singh will not attend the spring meeting of International Monetary Fund and World Bank, starting in Washington on March 20.
Two-wheeler exports from India fell by 17.8 per cent to 3.65 million units in 2022-23 (FY23), according to data released by the Society of Indian Automobile Manufacturers (Siam) on Thursday. This decline is due to a rise in global inflation and the weakening of economies and currencies in key export markets of Africa, Latin America (LatAm), and South Asia. In contrast to FY23, two-wheeler exports from India jumped 35.4 per cent to 4.44 million units in 2021-22 (FY22).
The belief that the Fed knows something that lesser mortals don't is common.
The reserves had dropped by $1.434 billion to $348.934 billion.
Gold reserves remained unchanged at $20.691 billion.
Democracy, nation-state and globalisation can't go together; we can have at the most two at one time, says Dani Rodrik.
The Indian economy, by and large, will withstand the current crisis like it withstood the Asian and Western world credit crises.
The International Monetary Fund has ended its annual meetings without doing anything to enhance its credibility and effectiveness. In the process, as Finance Minister P Chidambaram warned in Washington, it risks becoming irrelevant.
Retail investors should continue to invest in accrual schemes like cash and floating rate funds.
India is expected to grow by 8.75 per cent in 2010 and 8.5 per cent in 2011, driven by a strong domestic demand, International Monetary Fund said in its 2010 World Economic Outlook released here on Wednesday.
The IMF proposals will be reviewed by the finance ministers of G-20, whose representatives are in Washington for meetings this week, The Post reported.
Finance Minister P Chidambaram held informal consultations on Wednesday on possible candidates for the Reserve Bank deputy governor's post.
One could argue that India is not troubled in the same way as China is by a declining population and structural problems in real estate/construction and finance. But India has serious trade and fiscal imbalances, and excessive dependence on capital expenditure by the government, points out T N Ninan.
A sessions court in Ahmedabad on Saturday rejected the bail applications of activist Teesta Setalvad and former director general of police R B Sreekumar, arrested for allegedly fabricating documents to 'frame innocent people' in 2002 riots cases.
Only 68 MPs voted in favour of the motion, it said, giving the 72-year-old President a comfortable victory.
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.
India's reserve position with the International Monetary Fund was down $4.4 million to $1.67 billion.
The gold reserves remained unchanged at $18.691 billion.
Asian economies are unlikely to undergo a sustained recovery until mid-2010 and can not rely on China to pull the region out of its current slump, a senior International Monetary Fund official said on Wednesday, casting doubts on a "green shoots" theory that has helped bolster Asian stock markets recently.
