The proposed four per cent inflation target is onerous, considering India is currently battling near-double-digit increases in prices.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
'If Urjit Patel had resigned after the five-state elections results people would have taken a different view. So this was the right time for him to resign.' 'He rightly resigned as he felt the differences with the government were not getting settled.'
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
The bank's base rate currently stands at 10 per cent and the last movement in it was in November last year, when it was hiked by 0.20 per cent.
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.
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
For the first time in our economic history a government has thought about more than 50 per cent of our economic activity instead of the five per cent represented by the Sensex companies, observes IIM-B professor R Vaidyanathan.
The Budget sets out a comprehensive vision.
Fitch reaffirmed India's rating at 'BBB-' with a Stable Outlook saying the rating balances a still strong medium-term growth outlook compared with similar category peers and relative external resilience stemming from solid foreign-reserve buffers against high public debt, a weak financial sector and some lagging structural factors, including governance indicators and GDP per capita.
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
The proposal had attracted strong criticism from the salaried class.
'Fear is also a great impetus to push people in the right direction.' 'So, everyone who has touched black money is scared and I'm very happy about it.'
Jaitley promised higher investment in roads and railways.
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.
To do so, the government will have to tackle a number of broad development challenges successfully, says Shankar Acharya
A year ago, India's #MeToo movement witnessed women across India speak up against sexual harassment. Nikita Puri assesses what, if anything, has changed.
Markets end higher ahead of Fed outcome, China stimulus
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
WhatsApp said it would be instituting awards for research on 'spread of misinformation' on its platform.
In absolute terms, fiscal deficit went up by 33.6 per cent in April-December 2017 and the revenue deficit by as much as 40.7 per cent compared to the same period the previous year, said Sudipto Mundle.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
'Demonetisation, is in principal, a mistake, because it involves a theft -- a taking of private property by the State.' 'It is one of those bad Indian ideas that has been tried twice in the past, with two failures for the record books.' 'This cloud over the economy will probably remain as long as Modi is in power.'
For India, struggling for competitiveness, the current rupee overvaluation in terms of real effective exchange rate is a genuine constraint.
US President Barack Obama on Sunday affirmed his commitment to enhancing India's 'voice and vote' in global financial institutions like IMF.
The RBI has enough "fire power" to deal with the rupee volatility and will intervene in the forex market as and when required, said Planning Commission Deputy Chairman Montek Singh Ahluwalia.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
A Reuters poll showed only one out of 51 economists had expected a 50 basis points rate cut.
'Dr Rajan is often preachy with commandments aimed at nobody in particular,' complains M S Sriram.
Prime Minister Narendra Modi will hold discussions with public sector banks (PSBs) and financial institutions to draw up an action plan for banking reforms
RBI's draft guidelines on computation of base rate, if implemented in its current form, will significantly impact the profitability of banks.
'Rajan brought in a healthy air of competition in the banking sector.'
Over to the government how they manage the uncertainty of monsoon and revive spending in order to entice RBI for another round of rate cuts
India Inc is encouraged by a determined Budget.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
Food and fuel are two perennial areas of concern.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
Most expect the Budget to be path-breaking.
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
'Pakistanis are very clever in manipulating us,' former Bush administration official tells US lawmakers.
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