If the Modi government is going to set new benchmarks of performance, don't expect the majority of his dozen-odd ministers-who-matter with economic portfolios to be making the difference, says T N Ninan.
Raghuram Rajan said the head of the central bank should have a fixed tenure of more than three years as the current term was too short.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
'During the transition process, we have some control over the withdrawals.' 'In terms of your wealth, the money in your deposit account is where it is.'
'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.
A total of 183 stocks rallied 10 per cent, of which 32 stocks saw price appreciation of 20 per cent each.
RBI data show one-fifth of all the infrastructure loans are stressed and the share of such loans in overall stressed assets is nearly a third.
The Survey projected growth rate of 7-7.75 per cent for 2016-17 with downside risks due to weak global economic scenario.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
The best available recourse to keep the defence sector healthy, is to source most of our requirement within the country so that procurement outlays under both the Revenue and Capital heads flow within the country, recommends says Brigadier S K Chatterji (retd).
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
Since the 1984 national elections, no party has won a clear majority in the lower house of Parliament, a US intelligence report has observed. Vicky Nanjappa reports.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
FIXES BY THE GOVERNMENT: Energy price fixed, tax issues linger.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
For the Congress to be taken seriously, it has to convince those around it that it could actually double its Lok Sabha seat share from the existing 52, and vote-share by a third more from the stagnating 20 per cent in 2014 and 2019, points out N Sathiya Moorthy.
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
Food and fuel are two perennial areas of concern.
Even US equities are now back to end-2014 levels.
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
The financial crisis has challenged the intellectual assumptions on which previous regulatory approaches were largely built, and in particular the theory of rational and self-correcting markets.
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
BRICS has no plans to form a military and political alliance, Russian President Vladimir Putin said on Wednesday, in an apparent effort to allay apprehensions of the West.
'In macroeconomic policy, timing is all, and by leaving things too late, Mr Modi may have made around 50 seats in the Lok Sabha highly vulnerable,' says T C A Srinivasa Raghavan.
'Xi's emphasis on enhancing conventional military deterrence capabilities, joint operations and power projection are likely to increase friction points with India as with other nations,' points out China expert Srikanth Kondapalli.
With inflation figures expected to be well within RBI's target, there may be room for further rate cut.
The RBI is widely expected to raise its key repo rate by 25 basis points to 8.00 per cent on Wednesday, its third such hike in four months after recent data showed both wholesale and retail inflation at multi-month highs.
ADB pegs India's GDP growth at 7.8 per cent in FY 2015-16
The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
Because of India's weak fiscal position, the plethora of debt-burdened infrastructure companies and the poor asset quality of public sector banks, economic growth in 2015-16 may be limited to about six per cent, say Shankar Acharya.
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
