Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
FM says government policies aim to contain inflation, spur growth.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
A host of factors including the reform measures taken by the government and decline in global oil and commodity prices have led to lower inflation, the Finance Ministry said on Wednesday.
This is contrary to the expectations of a majority of analysts predicting for another hike given the rise in inflation lately, including domestic ratings agency Icra
Governments that do not respect central banks' independence will sooner or later incur the wrath of the financial markets, ignite economic fires, and come to rue the day they undermined an important regulatory institution; their wiser counterparts who invest in central bank independence will enjoy lower costs of borrowing, the love of international investors, and longer life spans, said Acharya, who will return to the New York University's Stern Business School in August.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
Softening inflation, Das said would make available more policy space to the central bank to address risks to the growth going forward.
Patel, 55, who took over as the 24th Governor of the central bank on September 5, 2016, had the shortest tenure since 1992.
The Indian Met Department has predicted a below normal monsoon.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
It's unfair to over-emphasise Urjit Patel's shy and reticent image.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
The new government that presents the full Budget for 2024-2025 in July should be ready to restructure the way divestment is managed and implemented, proposes A K Bhattacharya.
In his book, former governor Subbarao says Chidambaram, Pranab were piqued by his tight rate policy.
RBI is scheduled to announce mid-quarter review of monetary policy for 2013-14 on June 17.
Maintaining a rapid pace of the vaccination drive and quickly bridging healthcare infrastructure gaps across both urban and rural areas would emerge as the most sustainable stimulus for durable recovery of the Indian economy, says a report by the department of economic affairs.
Following the meeting, Subbarao said the central bank will look into the latest inflation numbers before coming out with the monetary policy review.
The North-West is expected to be hit the most.
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
'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.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
A staunch defender of demonetisation, it would be interesting to see how he handles the government's increasing demand for more cash from the RBI, and letting some weak banks get out of prompt corrective action.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
We need a change in mindset, says the RBI Governor.
There is also a lobby within the bureaucracy that wants to see Rajan's influence curtailed
Issuing a slew of directions, a bench of Justices S Ravindra Bhat (since retired) and Aravind Kumar asked the central and state governments to pay Rs 30 lakh as compensation to the next of kin of those who die while cleaning sewers.
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
The size of the Reserve Bank's balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by 6.99 per cent during the nine-month period ended March 31, 2021. While income for the year decreased by 10.96 per cent, the expenditure decreased by 63.10 per cent, as per the RBI's Annual Report for 2020-21. The year ended with an overall surplus of Rs 99,122 crore as against Rs 57,127.53 crore in the previous year, representing an increase of 73.51 per cent, it added.
Hopefully, the grey world of central banking in a nation hit by demonetisation, will lighten up with some of his notes soon.
Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced.
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