'Success will require political skill, not just economic expertise'
A continued focus on low inflation will be important to keeping gold imports, IMF said.
While headline and core WPI are stuck in a disinflationary phase, the retail measure is inching north.
Interview with Former governor, RBI
The government had increased customs duty on gold to 10 per cent and banned import of gold coins and medallions, while the RBI linked imports of the metal to exports.
RBI is expected to discuss about the impact of GST in its monetary policy.
The drop in headline inflation to a 40-month low of 5.96 per cent for March has increased the possibility of a rate cut by the Reserve Bank at its May 3 annual policy, analysts and rating agencies said.
The central bank has lowered its policy rate twice so far in 2015.
With government surviving the winter session and the required reforms in place, two events will decide the movement of markets - outcome of US fiscal cliff and RBI's stance on the rate cut.
Gold has pushed lower as a result of Chinese selling.
Raghuram Rajan, who has been pilloried by his critics for keeping interest rates high and has also been accused of stifling growth.
What is required from government is intellectual framework.
As the reform process is expected to gain further momentum, the Indian rupee will continue to outperform its Asian peers, which are likely to weaken further against the US dollar in 2015, says an HSBC report.
He added that the risks can increase if the Chinese slowdown gathers more speed.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
At present, Indian indices are under-performing as compared to others and a package from the government can help cover the ground.
On Aug 11, the Chinese central bank surprised markets by devaluing the yuan by nearly 2 per cent.
Even as the rupee plunged to a 10-week low against US dollar on Friday erasing almost the entire gains it made since the recent reform waves, the Finance Ministry on Saturday expressed optimism of a recovery before the fiscal-end and ruled out any intervention by RBI.
The case for deregulation of the savings bank deposit rate by the Reserve Bank of India (RBI) is becoming stronger day by day. It is time India returned to a system favoured by most modern economies around the world.
The Financial Sector Legislative Reforms Commission had in a report last year proposed a unified regulator for the entire financial sector -- markets, insurance, commodities and pension. It had, however, proposed to keep banking out of its purview for now.
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
'Without reviving employment, consumer confidence will not go up.'
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
Urjit Patel's reappointment will raise market hopes that Rajan, will also be offered an extension when his tenure ends in September.
Chidambaram welcomes CRR cut as a good small step forward.
Human resource, or HR, development is one of the key portfolios that K C Chakrabarty handles as the Reserve Bank of India (RBI) deputy governor.
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
Prime Minister Narendra Modi will hold discussions with public sector banks (PSBs) and financial institutions to draw up an action plan for banking reforms
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The worst performing Asian currency of the year so far hit a new life low of 61.80 rupees per dollar on Tuesday, breezing past a previous low of 61.21 hit on July 8. Central bank intervention helped the rupee recover, but by Wednesday it was sliding once again, to stand around 61.41 by 1.30 p.m.
Analysts expect modest recovery in Indian economy.
Soon after RBI announcing a much- awaited rate cut, Chief Economic Advisor Arvind Subramanian on Wednesday said that the global rating agencies should look at upgrading their stance on India's credit outlook. "Now we have a 50 basis points rate cut (in two tranches within two months) and I think that is good for the economy and all rate cuts benefits... If the outlook is looking good, the rating agencies should draw their lessons from that om improving the outlook," Subramanian told reporters. After presentation of Union Budget 2015-16 last week, global and domestic agencies had ruled out any immediate upgrade in India's sovereign ratings and had red-flagged the country's delayed fiscal consolidation roadmap and had also warned against any slippages from the "ambitious" disinvestment plan proposed in Budget. Subramanian said that the rate cut is consistent with the government's views in the last week's Economic Survey and thereafter in the Union Budget for the outlook on inflation and for the outlook on overall economy. "It (rate cut) shows that RBI and government are on the same page in terms of how we view the economy. It also means that Budget can be seen as conducive to non-inflationary growth," he added. On monetary policy framework agreement, Subramanian said that both Finance Ministry and RBI have shared concern about inflation. Recently, the Finance Ministry and the Reserve Bank agreed to 'inflation rate targeting' under which the apex bank will aim to lower retail inflation to below 6 per cent by January 2016.
India's external firewalls were solid in the form of a healthy reserve position.
PS banks need to pull up their socks to improve cash flows.
'The government and the RBI have been playing a very good part in terms of inflation management.'
He noted that the Rupee has firmed recently but cautioned that the currency should not lose its competitiveness in global trade.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
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