'Officers have been made the scapegoat for political failure.' 'No effort has been made to find out who scuttled the prime minister's decision to introduce competitive bidding and why and at whose instance.'
For 2015-16, IMF pegged India's growth rate at 7.5 per cent.
The Modi government has handled inflation far better than any government in the past two decades. Both the stock market and currency indices have begun to show confidence in the economy, despite the mounting global headwinds of trade.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
It has built confidence in the possibility of change; now reality has to catch up with the image and the expectation, says T N Ninan.
Raghuram Rajan speaks on the unscheduled rate cut.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
Services companies continued to raise prices, though the rate of change was the weakest since April
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
President Pranab Mukherjee gave a touching farewell to 'gentleman' Manmohan Singh, recalling their four-decade-long association from Singh's bureaucracy days till he became the prime minister.
India's near-term growth has improved: IMF
Indian Economy poised for growth, say experts.
Last year this time, India was grappling with an imminent sovereign downgrade, with an uncontrolled fiscal deficit, policy paralysis of the highest order with no economic reforms for eight long years and a weakening rupee.
The brokerage said it has high hopes for recovery and reforms following the general elections.
The rupee on Wednesday strengthened by another 3 paise to 62.82 against the US dollar.
On Wednesday, the rupee had dropped by 26 paise.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
More than 30 entities, including brokers and high net worth individuals, have come under the scanner of market watchdog Sebi for unusual trading activities on the day of Lok Sabha election results.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
Slow pace of reforms in India is disappointing: Faber
India's manufacturing PMI rose to 54.5 in December, 2014, while in the corresponding period a year ago it stood at 50.7, just above the crucial 50 mark which separates growth from contraction.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
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The basis of Ind-Ra's expectation of INR appreciation is based on economic developments in the last one to two months of this fiscal and the likely developments in the remaining months.
The question on who should borrow from the market and whether the borrowing will be under two buckets should be decided by the GST Council, and not by the Centre. If there is no consensus, there has to be a vote, says A K Bhattacharya.
The country's near-term outlook hinged on a benign inflation trajectory, uptick in industrial activity and falling crude oil prices
Even before Prime Minister Narendra Modi swept to power in 2014, Subramanian Swamy was agitating for Rajan's removal.
Budget has several small steps which will boost growth
The partially convertible rupee closed at 61.45/46 per dollar, weaker from Wednesday's 61.35/36.
The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced.
There are glaring anomalies with Indian data and that could lead to wrong policy prescriptions.
RBI is expected to slash rates by 150 basis points till end-December 2016.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
ADB projected China's growth to decelerate from 7.4 per cent
High rates of such schemes deter banks from dropping borrowing rates - and thus lending rates
So let's stop focusing the Modi agenda on India Inc and the capital markets, and let's start focusing on the Modi development agenda for the average Indian.
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