Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
Negotiators from 13 countries spent a day and a half behind closed doors.
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
While Arun Jaitley remains part of the decision making process, Piyush Goyal, who was given additional charge on May 14, attends cabinet meetings and takes the day-to-day decisions.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
There is concern in the organisation and the leadership over the unbridled criticism aimed at the Finance Ministry.
Fitch Ratings had in December affirmed India's 'BBB-' rating with a stable outlook.
This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
In a strong counter to the narrative building around reasons for the exit of Professor Pratap Bhanu Mehta, Ashoka University Chancellor Rudrangshu Mukherjee has said the institution remains committed to academic freedom and intellectual independence while its Board of Trustee Chairman Ashish Dhawan promised an open line of communication.
'The current budgetary practice of shifting expenditures off-balance sheet in order to be seen to be meeting fiscal targets should be discontinued; additional fiscal stimulus would be imprudent; individual income tax rates should not be cut; GST rates should not be raised now,' advise Arvind Subramanian and Josh Felman.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
'Given the 50 per cent or thereabouts increase in borrowing that has been announced, it is a reasonable estimate to say that at this time, an increase of 1.7-1.8 per cent on the 3.5 per cent budgeted fiscal deficit target is being anticipated,' Chief Economic Adviser Krishnamurthy Subramanian said on Friday.
For the first time, Subramanian said, "the Economic Survey has embraced Big Data, and we mine this data to shed new light on the flow of goods and people within India."
The Survey adopts an unfettered approach in thinking about the appropriate economic model for India. This endeavour is reflected in the sky blue cover of the Survey, Chief Economic Adviser Krishnamurthy V Subramanian said.
According to the Central Statistics Office data, the jump in the retail inflation based on Consumer Price Index was mainly due to rise in prices of kitchen items like vegetables, meat and fish.
The board deliberated on the governance framework of the RBI and it was decided that the matter needs further examination
A wise politician would disarm his critics, try to take them along, co-opt them, or, at least, take the criticism in his stride. Developing a thick skin ought to be an essential part of any politician's toolkit, notes Virendra Kapoor.
The review will not only present data, trends but also list out the achievements of the Narendra Modi government
Due to improvement in business climate, industry chieftains refrain from visiting the North Block.
The Lok Sabha has already passed the Bill.
The committee had eminent people on it and making any allegations like this is 'outlandish', Sitharaman said.
The appointment will be made by Prime Minister Narendra Modi in consultation with Finance Minister Arun Jaitley.
The first Budget of Independent India was presented by R K Shanmukham Chetty on November 26, 1947.
Subramanian said the government is also taking various other steps to improve ease of doing business in the country.
With Greeks' rejection of rescue package from creditors spooking markets, the government on Monday asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment.
Telangana's Rythu Bandhu policy is an embryonic UBI, or rather embryonic QUBI (a quasi-universal basic income, pronounced Kyoo-Bee). And it could potentially also be the future of agricultural policy in India, says Arvind Subramanian.
The ATMs will open on Friday and at many places they will open on Thursday, he said.
the ratings agencies have been inconsistent in their treatment of China and India. Given this record -- what we call Poor Standards -- my question is: why do we take these rating analysts seriously at all?," Chief Economic Adviser Arvind Subramanian said on Thursday.
"There have been discussions on implementing UBI in J&K -- not just as a pilot in some districts, but in the entire state, according to Drabu's proposal in the state's Budget," said an official. "Finance Minister Arun Jaitley is also supportive of the idea. A presentation will now be made at the PMO."
Kingfisher Airlines, promoted by Vijay Mallya whose other group entities included United Breweries, owe close to Rs 7,000 crore to 17 banks.
Economic Advisory Council to the Prime Minister has identified ten themes, including economic growth and job creations that need attention.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
Chief Economic Adviser Arvind Subramanian on Thursday said upgrading of India's outlook to positive by Moody's validates the government's reform thrust.
The decline in inflation was broad-based across major commodity groups except housing and fuel and light.
India should not loosen its fiscal deficit targets in the forthcoming budget, Prime Minister Narendra Modi's top economic adviser Arvind Panagariya said.
Inflation is on a declining trend, Eco Survey stated.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
Indian economy has started looking up.
Various global and domestic factors had a sizable impact on the performance of the Indian markets
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