Home Minister Rajnath Singh said that the decision could cost the government roughly Rs 15,000 crore.
Athens has pushed two reform packages through parliament
News of all that transpired on and off the football field
Rates on tax-free bonds are linked to government securities.
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
Woefully inadequate infrastructure is just one of the many reasons why a case is not settled within 180 days and even 270 days as envisaged by the law, says Tamal Bandyopadhyay.
Occasionally, a whistle-blower releases sensitive financial data.
If the impact of the Greece crisis spreads across Europe and parts of the world which are more interconnected than ever before, India cannot hope to be insulated, says Paranjoy Guha Thakurta.
Political funding of elections has led to the rise in black money in the economy.
Finance Minister Arun Jaitley hints at a world class tax regime.
India too will advocate the IMF quote reforms at the two-day meeting of G20 Finance Ministers and Central Bank Governors beginning Saturday.
'All of Indira Gandhi's bad economic ideas are being strengthened, from nationalised banks to anti-poverty, handout yojanas,' says Shekhar Gupta.
Group still far from coordinating monetary/forex policy
PM extended some old schemes and finally said yes to one that was legally mandated for past 2 years.
Most mainstream researchers agree that good governance is a necessary condition for growth.
The threshold limit for deduction of tax at source has been raised for unusual income such as winnings from horse race, commission
'Modi remains the most popular politician in India; the BJP's organisational and fundraising prowess is considerable; and the Opposition, while newly collaborative, has no leader or clear economic messaging as of yet.'
Economy to grow by 7.2-7.5 per cent in second half of current fiscal, says FM.
Reddy has worked to reform the economy.
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
'The domestic scenario is much better than earlier, demonstrated in the March quarter earnings.'
India's credit and banking are neither too big nor too small.
'It's still very early. I have just been handed over the matter and therefore I haven't formed any views on it as yet,' Justice B N Srikrishna tells Pavan Lall.
The economic growth fell to a decade low of 5 per cent in 2012-13 fiscal.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
'Modi has shown political courage by instituting several economic reforms which include demonetisation, ushering in GST, eradication of benami transactions...'
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
Expectations are high. There is a little bit of euphoria in India, says RBI governor.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
The rupee had surged 37 paise to end at a nine-month high of 59.68 against the dollar on Tuesday. Forex market remained closed on Wednesday for 'Buddha Purnima'.
China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
On the revenue front, the finance ministry was expecting higher proceeds from non-tax revenue.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
Calling RBI Governor Raghuram Rajan's exit a 'bad omen' for the Indian economy, eminent economists and former policymakers on Sunday said it will be seen by the world as India's non-approval to a policy against inflation and bad loans.
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