Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
The Indian economy has "some bright spots and a number of very dark stains" and the government should target its spending "carefully" so that there are no huge deficits, noted economist and former RBI Governor Raghuram Rajan said on Sunday. Known for his frank views, Rajan also said the government needs to do more to prevent a K-shaped recovery of the economy hit by the coronavirus pandemic. Generally, a K-shaped recovery will reflect a situation where technology and large capital firms recover at a far faster rate than small businesses and industries that have been significantly impacted by the pandemic.
You can e-mail your pictures to getahead@rediff.co.in (My Lord Ganesha Pix) with your name, location, details about your Lord Ganesha and what this festival means to you. We will publish the best entries right here on Rediff.com.
Maharashtra recorded a voter turnout of 58.22 per cent till 5 pm on Wednesday in the elections to the 288-member state legislative assembly, with Gadchiroli district logging more than 69 per cent voting, poll officials said.
Land, houses and other infrastructure facilities required for the rehabilitation procedure would be constructed at the earliest, the authorities said.
Gandhiji asked me if I had sufficient warm clothes in view of the coming cold season. I said yes. But he verified my statement by asking Miraben to search my bag to make sure. Such was Gandhiji.
Quite a few film folk and politicians attended the funeral of veteran actor Atul Parchure, who died on October 14 after a long battle with cancer. He was 57.
On Monday, April 29, 2024, Aditya Thackeray, the Shiv Sena (Uddhav Balasaheb Thackeray) MLA, embarked on a roadshow for Rajan Vichare, the sitting MP and party candidate for the Thane Lok Sabha seat.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
Gangster Chhota Rajan, arrested in Bali on Monday and who is likely to be extradited to India, was not one to forgive or forget easily. Mumbai's foremost crime writer S Hussain Zaidi recalls the time when Rajan was almost killed in an attack by his rival Chhota Shakeel, and how Rajan extracted revenge across continents.
Rajan said the government focussed more on fulfilling its political and social agenda rather than paying attention to the economic growth.
As heavy rains continue to lash Kerala, the India meteorological department on Friday issued an orange alert in eight districts in Kerala for Friday.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
Free speech is the soul of a great university. By compromising on it, the founders have bartered away its soul, said Rajan.
A special Central Bureau of Investigation court in Mumbai has accepted the closure report filed by the probe agency against jailed gangster Chhota Rajan in a case of attempt to murder of a noted journalist in 1997.
Observing that it is not yet clear to him what the government means by 'Atmanirbhar Bharat', Rajan said if it is about creating an environment for production, then it is a re-branding of the Make in India initiative.
India needs foreign exchange buffer reserves to insulate itself from exchange rate volatility as we have "no friends" for swap lines and Japan was the only country that helped during the taper tantrum in 2013, former RBI Governor Raghuram Rajan said on Tuesday. Participating in a virtual event organised by economic think tank NCAER, Rajan said during the taper tantrum in 2013, India asked for swap lines, and only country who helped was Japan. "We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends.
Local residents have stressed that land acquisition for rehabilitation must be completed promptly, as it has been delayed after estate owners challenged it in the Kerala high court.
Between tons of sexual innuendo and Kapil Sharma brand of slapstick gags characterised in loud caricatures, moronic behaviour, flimsy wigs and cartoonish rhythm, Vicky Vidya Ka Woh Wala Video's jarring notions of exuberance have nothing novel to offer, groans Sukanya Verma.
Former Reserve Bank of India governor Raghuram Rajan said that Rs 65,000 crore is required to help the poor affected by the coronavirus-induced lockdown. He also laid stress on the need to restart the economy while taking precautions.
Politicians from the Left and the Congress party in Kerala have rallied behind Malayalam superstar Mammootty, who is facing online harassment from certain right wing sympathisers in connection with his 2022 film, Puzhu.
The new visa-free regime allows travellers to stay for up to 60 days instead of only 15 earlier.
Several people are still feared trapped in the debris after a series of landslides that occurred in Chooralmala and Mundakkai of Wayanad.
In the first Chennai Test against Bangladesh, Pant scored a magnificent century and returned to Test side with a bang.
Rajan's departure from the RBI is an end to 'outside interference' in policy making, government insiders feel.
Jaitley slams Rajan for MSME banking crisis statement, says postmortem is easier than action
Twelve stamps each of Rajan and Bajrangi were printed under the 'My Stamp' scheme, which was launched by the department a few years back, an official added.
Shraddha Kapoor recently confirmed her relationship status when she posted her thoughts about Rahul Mody.
The process for deportation of underworld don Chhota Rajan has begun even as India and Indonesia are to expedite the work on implementation of an extradition treaty.
'20 per cent of the global AI researchers are of Indian origin, and we should bring them back.'
'With passage of time, Kamal did move away from the humdrum of commercial cinema, using it only as a peg to launch a new concept or new technology, as no other actor/film-maker has done in Indian cinema.' N Sathiya Moorthy assesses the career and politics of movie legend Kamal Haasan on his 70th brthday.
The court said that Rajan suspected that J Dey was working for Dawood Ibrahim and the journalist was showing him in a poor and weak position.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
There were two questions everyone wanted to know the answer to. 1. Did Raghuram Rajan advise the Congress on the much-discussed NYAY scheme, as claimed by Rahul Gandhi? 2. Will Raghuram Rajan become India's next finance minister?
Even though the NIA claims that more than 90 per cent of cases charge-sheeted have ended in conviction, the figure is likely misleading. To date, very few cases investigated by the NIA have resulted in a completed trial, points out former CBI joint director Navneet Rajan Wasan.
Justice Rohit Rajan Agarwal made the observation while rejecting the bail application of one Kailash, who is accused of being involved in the religious conversion of several people from a village here.
The Badlapur school, where two young girls were allegedly sexually abused, preferred to cover up the crime instead of helping their parents file a police complaint, said Susieben Shah, chairperson of Maharashtra State Commission for Protection of Child Rights, on Wednesday.
If we persist in talk and little action, I think we will slip. I fear the consequences of sustained slow growth. We need strong, sustained, clever action today, Rajan said.
...but when they awaken, it's going to be overly optimistic to assume everybody will walk off the sleeping bed and come back to full life, Rajan noted.
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
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