Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Zzungry said it had introduced limited edition of 'Ulundu kozhukattai' and 'Kova kozhukattai' that are inspired from the cuisines of two states that hold great relevance in the life of Raghuram Rajan.
At this point of time, the requirement of the economy is obviously more investment, which will create more jobs and increase purchasing power that will sustain a high level of production, says K M Chandrasekhar.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
The Reserve Bank of India (RBI) is facing severe policy challenges in managing capital flows, said RBI Governor Y V Reddy.
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
Raghuram Rajan optimistic about passage of GST
RBI ex-governor's book on 'those turbulent but exciting times' to be launched on Sept 5 in Chennai.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
The change from wholesale to retail inflation as an anchor means that the weightage of diesel in inflation has decreased
Prime Minister Narendra Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP last week. However, many of the measures unveiled have been in the form of moves like loan guarantees which do not entail an immediate fiscal cost.
'If you ask India's finest business leaders, they now tell you -- in whispers, of course -- that the mood has never been so glum after 1991,' says Shekhar Gupta.
The Indian economy was on an impressive growth path through the first decade of this century till it was brought to an abrupt halt by the policy inertia during UPA2 and the Modi government's inability to restore economic and financial momentum. Fascinating glimpses of what went wrong from Puja Mehra's must-read book The Lost Decade: How India's Growth Story Devolved Into Growth Without A Story.
Dealers also expect RBI to try to prevent excessive strength in the rupee in a bid to help exporters remain competitive
She would be the first Indian to be occupying the coveted post at IMF after former RBI governor Raghuram Rajan
The Rs 20 lakh crore package includes Rs 1.7 lakh crore package of free foodgrains to the poor and cash to poor women and elderly, announced in March, as well as the Reserve Bank's liquidity measures and interest rate cuts.
Growth in India's manufacturing sector cooled to its slowest in 22 months in October.
He said the short term macroeconomic priorities of the RBI continue to focus on bringing down inflation towards the government-set target of 4 per cent
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
'We have promised to ensure reduced tax rates.'
Bank, bankruptcy reforms, Nabard Bill amendment on agenda.
'Willing to spend is different from when to spend and how much to spend'
After a contraction in the current financial year, India's economy is forecast to bounce back with a sharp growth rate of 9.5 per cent next year provided it avoids further deterioration in financial sector health, Fitch Ratings said on Wednesday. The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April. Fitch Ratings forecast a 5 per cent contraction in the GDP in the ongoing financial year.
Here are 10 global and domestic factors.
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 benefit coming in from the Rs 1.45 lakh crore tax giveaways will also help companies to cut prices by up to 5 per cent to boost consumer demand, which has been sagging and is one of the prime reasons for the deepening slowdown.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
The Niti Aayog vice chairman noted that green shoots of recovery are already visible in multiple sectors. In 15-16 sectors, businesses are coming back to pre-COVID levels," he said.
The report admits that converting MSP to a floor price of auction on the eNAM portal will not completely solve the problem as the current data shows that average modal prices in e-NAM mandis is lower than the minimum support price in all commodities except urad.
India will soon allow corporate houses to open banks despite misgivings within the RBI.
The most pressing issue facing the financial sector is the rising stock of non-performing assets in the banking system
Strategic sales are tricky and were last undertaken when the Vajpayee government was in power.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
If the government cuts wasteful expenditure as it is trying now, the deficit would at most fall to 8 per cent, not less than that.
It is time to reform the RBI and the ministry of finance, says Dr Ajay Shah of the National Institute of Public Finance and Policy, New Delhi.
Why India is an attractive investment destination
'A loss of seats for the Trinamool in this election will weaken its hold in Bengal, which will not augur well before the assembly election in 2021.'
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