In a paper, EAC-PM accused Subramanian of "cherry-picking high-frequency indicators" to express his skepticism about the growth rates after 2011-12.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
The Centre has constituted a five-member expert committee to study various alternatives available to it to decide on a new capital for Andhra Pradesh.
'In a serious fiscal situation like this, an ostrich-like focus on annual budgeting, event management and defensive rhetoric will only make matters worse,' warns Rathin Roy.
Raghuram Rajan is said to have informally written to select policymakers and experts, to curb 'unnecessary' speculation over his future at RBI.
Several speakers noted that Budget carried the weight of expectations.
'The Budget numbers presented severely underestimate the magnitude of the unstated fiscal crisis that we went through in 2018-2019, which cannot be conceivably be fully reversed in 2019-2020,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
A day after its debacle in the Kolkata civic poll, the Bharatiya Janata Party on Wednesday announced the formation of its new office bearers committee in West Bengal, axed several members of its old guard and inducted new leaders to strengthen the party in the state.
Three TMC leaders Amit Mitra, Bratya Basu and Rathin Ghosh were sworn-in virtually. Mitra is unwell and both Basu and Ghosh are recuperating from COVID-19.
The 7th Pay Commission has recommended more than doubling the 'Military Service Pay' to defence personnel, and suggested that Short Service Commissioned Officers should be allowed to exit the Armed Forces at any point in time between 7 and 10 years of service.
'We are not able to manufacture even low-end products as cheaply as China.' 'We are not buying Chinese goods today out of any love for China.'
Hours after quitting as the MLA of the West Bengal Assembly, Rajib Banerjee on Friday resigned from the primary membership of the Trinamool Congress, intensifying speculation that he might soon switch over to the Bharatiya Janata Party.
'We have to stop thinking about GDP and look at the impact on output and unemployment.' 'And that is not going to be insignificant.'
The ruling TMC in West Bengal was rocked by a fresh bout of desertions on Friday with Banerjee quitting the party and several other leaders rallying behind him.
However, a few defectors, who joined the BJP, got the better of their TMC rivals, including Suvendu Adhikari who emerged as a proverbial giant slayer, by defeating Chief Minister Mamata Banerjee albeit by a narrow margin.
The BJP could win only 16 out of 57 seats where Shah campaigned.
Budget speeches have been replete with incomprehensible and even hilarious statements, says Rathin Roy.
This is a terrible situation for a growing economy to be in, and the central bank would be expected to act to correct the situation.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The notes argue that it will widen the talent base available to govt to deliver increasingly complex services to a demanding population.
Against the backdrop of the Lok Sabha results, a much larger scale of desertion was anticipated from the TMC. 'It seems, people don't believe that the ship is sinking.'
The Pay Commission process is symptomatic of a national crisis within the Indian state.
The implementation of their recommendations means that an adequate apparatus to change this is at the disposal of the government.
Opportunity for India to take leadership in economic diplomacy.
Senior bureaucrats say the government has planned a 'feel-good' Budget after the 'pain' of demonetisation.
Lower revenue collection puts upward pressure on government borrowing, ensuring that it deviates from the glided path of debt reduction
The Budget is remarkably coherent.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
The 7th CPC places the Indian Police Service (and, almost in passing, the Indian Forest Service) on a level with the Indian Administrative Service, leaving the military out in the cold.
The Union government has no 'Buy India' policy, but has a 'Buy Air India' policy.
The long-term growth perspective or potential for India is one of the highest in the Asia Pacific region.
Union Budget 2015 cuold have included few smaller reforms.
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