In his new role, Subbarao will take part in various activities at NUS Business School, the Institute of South Asian Studies and the Monetary Authority of Singapore.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
The DMK feels its genuine gestures have had no bearing on the governor's politico-administrative conduct, which is 'more political and politicised than administrative and Constitutional', observes N Sathiya Moorthy.
Renewable energy is mistakenly restricted to electricity.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
Practising Indira Gandhi's brand of socialism today will not just be anachronistic but also economically harmful.
Jaitley asserted that the party has become the central pole of Indian politics.
'Mr. Modi has now become 1st PM to have his illegal orders set aside by the SC'
'If development, investment, employment, implementation, credibility and commitment are ensured, security will automatically improve and subversive and militant elements will lose ground and be neutralised by the people themselves,' says B S Raghavan, the distinguished civil servant.
There is ample fuel in the computer revolution to do many useful things.
All FIPB records will now be digitised; old and unnecessary files will be weeded out
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
Over 5 million alumni from the Indian Institutes of Technology, Mumbai University and Institute of Chemical Technology, Mumbai, plan to raise Rs 21,000 crore to start the world's largest infection testing lab in Mumbai.
The prime minister sees himself as the "vikas purush". But realising his government's agenda for development requires not just a more efficient administration but also a credible implementation plan, says Nitin Desai.
The finance ministry has put out a revised draft in public domain.
Union Finance Minister Arun Jaitley today said demonetisation left Maoists in many parts of India and separatists in Jammu and Kashmir "fund starved".
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
The long-term growth perspective or potential for India is one of the highest in the Asia Pacific region.
Good intentions and elaborate roadmaps apart, there is an urgent need for the Tamil Nadu chief minister to come up with branded schemes like MGR's meal scheme, asserts N Sathiya Moorthy.
Rashtriya Janata Dal's Manoj Jha saw the move as an attempt to have a 'committed bureaucracy'.
Jaitley will be cremated on Sunday afternoon at the Nigambodh Ghat, BJP leader Sudhanshu Mittal said.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
'According national security and higher defence management empathetic political attention they warrant is critical. Will Prime Minister Modi pick up this gauntlet?' asks C Uday Bhaskar.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
'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.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Economists have asked Finance Minister Arun Jaitley to lower interest rate, rationalise subsidies, remove all cess and surcharge, do away with the retrospective tax amendments and scrap dividend distribution tax to revive investment cycle and promote growth.
Modi govt must implement few policy measures which it announced in Budget 2015.
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
Like Nehru, Modi is loathe to touch the public sector. His policy towards Israel leans towards 'non-alignment'. You can find other similarities: frequent public speeches, personalised leadership, total control over foreign and strategic policies, even stylised dressing, says Shekhar Gupta.
To the extent that body shopping is replaced by true offshoring, everyone is better off, says Ajay Shah.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
When Prime Minister Narendra Modi recently extended a Rs 8,000-crore (Rs 80 billion) central support for building roads in Jammu & Kashmir, Union Cabinet's approval for the big-ticket announcement came in barely 48 hours.
The Congress, desperate to make a comeback in Gujarat, which has been ruled by the Bharatiya Janata Party for over 20 years, has tried to reach out to various sections of society in its blueprint unveiled.
One may fault this government for incompetence, corruption, and delayed action but it cannot be faulted for lacking a vision.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
'Success will require political skill, not just economic expertise'
'All of Indira Gandhi's bad economic ideas are being strengthened, from nationalised banks to anti-poverty, handout yojanas,' says Shekhar Gupta.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances