'India's biggest loss is that we will not have anyone as principled and as courageous as Rajan.'
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23.
Chief Economic Advisor Arvind Subramanian's interview.
"It was a good long meeting with the governor. He met the finance minister. He reviewed the situation. Rest, wait for the policy," finance secretary Ashok Chawla told reporters.
With EU, it is part of the FTA that we will need to negotiate.
Now that the quarterly monetary and credit policy announcement is out of the way, the macroeconomic policy focus must surely return to the critical issue of the exchange rate. The debate on what to do about it has been vigorous, on these pages and elsewhere, but, so far, it has not translated into a concrete statement about the direction which the policy is likely to take.
Industry chamber Federation of Indian Chambers of Commerce and Industry said the Reserve Bank of India should intervene and cut interest rates.
There are already some signs of stress in this market.
Reserve Bank of India Governor, Y V Reddy presented the Monetary and Credit Policy for 2006-07 on Tuesday.
With a rise of around 30 per cent in the benchmark index S&P BSE Sensex, 2014 has been the best year for Indian equity markets since 2009, when the benchmark index surged 81 per cent.
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
The government should now focus on governance and monitoring the supply side to manage inflation, says M V Subramanian.
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
Nifty crosses 9,750-mark; Bharti Airtel, TCS, Wipro, Lupin and Coal India gained the most on BSE Sensex
Finance Minister Arun Jaitley will pitch for quota and governance reforms in the annual meeting of the International Monetary Fund.
A combination of add-on insurance covers can be helpful in managing finances and making life much easier, says Dhirendra Mahyavanshi
'The Indian economy is in slowdown and growth may stay slow,' notes Devangshu Datta.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
Rajan's deputy Khan cautions against early celebration of falling inflation, unhedged forex exposure.
'The challenge in India will be reviving consumption/investment.' 'If the negative surprise in earnings is very sharp or lasts longer than March, it can trigger a sharp sell-off.'
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
Former India cricket captain Bishen Singh Bedi said the appointment "defies all logic".
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
With inflation figures expected to be well within RBI's target, there may be room for further rate cut.
The nomination would put Yellen on course to be the first woman to lead the institution.
'While many Chinese policy makers dismiss the political, economic and technological component of US-India relations, they express caution on the defence-related ties which also happens to be a major driver in US-India relations,' explains China expert Srikanth Kondapalli.
While stating that a strong government should be led by those who have expertise, motivation and integrity and can provide the needed public good, Rajan warned that "strong governments, may not, however, move in the right direction".
Given the relative rates of gross domestic product growth, the differential will increase.
Currently, foreign lenders are present in India only through branches or representative offices.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
Reacting to Trump's latest move, China has vowed to immediately retaliate.
Describing it as 'a very powerful order' Trump told reporters during his daily news briefing at the White House on Wednesday that he signed the order to protect American workers' jobs in an economy pummelled by the COVID-19 pandemic.
The Finance Minsiter says country requires 'a larger opening out in more sectors, stability of policy and tax regime'
The Narendra Modi government's alacrity in promoting ease of tax administration, a critical component in the ease of doing business index, has set in motion several incremental policy and administrative reforms, says Mukesh Butani.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances