FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
Heading to the third year, will Urjit Patel be busy firefighting a currency crisis? Almost no governor of the RBI managed to evade it and Patel perhaps knows it.
We are in this mess as the machinery of the government in a market economy is broken. We need technically sound banking regulation, so that capital is not misallocated, and the landscape does not get littered with zombie firms kept alive through evergreening, says Ajay Shah.
The agency has predicted that monsoon will also be a major factor.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
There were more than three losers against every gainer on BSE
The move will have cascading effects for lot of related sectors
Some of the violations that will lead to community service include failure to pay social security contribution of workers, maintain records, furnish information to inspectors, pay gratuity to workers, provide crche facility and medical pay, and retrenching women workers during maternity leave.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
Finance Minister P Chidambaram, while addressing the Carnegie Endowment for International Peace on "Recapturing India's Growth Momentum" in Washington on Thursday, said that the leading think tank need not launch an initiative to explore how India will vote in 2014, declaring that the Indian polity will vote the Congress back into power.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
'If India can only grow at 5%, why bother spending time on the country?' asks Akash Prakash.
'We have promised to ensure reduced tax rates.'
Nitin Desai suggests some concrete measures to revive investment and boost growth.
Banks might not have realised the exact implication of risky projects under PPP projects, which were getting implemented under high leverage
S&P in November ruled out an upgrade in the country's rating for some considerable period, citing India's low per capita GDP and relatively high fiscal deficit.
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.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
Budget 2015 has blessed the banking sector.
"I invite each one of you to become a partner in India's growth story. And once again assure you of our wholehearted support."
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
'The attempt to build a negative narrative about India's economic performance is disingenuous.' 'For the investors as well as the targeted beneficiaries of welfare schemes, the ground reality is very different,' argues Rajiv Kumar, vice-chairman, NITI Aayog.
Similarities between NDA and UPA on some key policy issues are now becoming too stark to be ignored, says A K Bhattacharya.
Banks are in need of government support to manage the stressed assets
Many things are going unnoticed by India watchers.
Once the patients are identified, the government will decide on the quantum of compensation in each case and then approach J&J for claim settlement.
The economy hasn't gathered even half the traction that some of us assumed it would just a year back.
Chennai Super Kings and Rajasthan Royals were suspended from the Indian Premier League for two years for betting activities of their key officials, Gurunath Meiyappan and Raj Kundra, during the 2013 season of cash-rich Twenty20 cricket tournament.
The situation in Greece worsened with banks closed for a 2nd week.
Fortune's third annual 'World's 50 Greatest Leaders' list features men and women from across the globe from the fields of business, government, philanthropy and the arts who are "transforming the world and inspiring others to do the same."
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
Indian economy about to take-off
What Shekhar Gupta would have really liked to know from Pranabda: Why did Sonia prefer Dr Singh to him as PM? Why did he deny finance first, why did he accept it 5 years later, and why did he make such a mess of it? How did he force Sonia to nominate him for President and not Hamid Ansari? And how does he justify that most toxic legacy -- the Vodafone tax amendment?
'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.'
The Budget sets out a comprehensive vision.
If companies get into trouble, the loan becomes a non-performing asset and "we very much want these assets to be back on track," Raghuram Rajan said.
Jaitley promised higher investment in roads and railways.
There are 7 key rules one can follow to ensure that the chances of such fraud are almost reduced to a negligible level when shopping online, says Anil Rego
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