Prices of food articles contracted by 3.47 per cent in June on a yearly basis. Vegetable inflation stood at (-)21.16 per cent.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
Aakar Patel looks forward to Prime Minister Modi's speech at the bhoomi pujan for the Ram temple in Ayodhya next week. It will be entertaining and stirring, predicts Aakar, and make lots of promises that he most likely won't be able to keep.
Subramanian said a five per cent growth rate is "remotely not enough" for India to grow and provide the jobs for the expanding labour force.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
The council wants the government to stick to its fiscal consolidation road map.
the RBI will need to fulfil its April 4 pledge to avoid liquidity shortages.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
The Centre is grappling with the question of its fiscal roadmap not only for this year but for 2018-19
Post-Budget survey find GDP numbers as 'too optimistic'
Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
With just eight days left for the winter session, Jaitley and Parliamentary Affairs Minster M Venkaiah Naidu held consultations with Leader of Opposition in Rajya Sabha Ghulam Nabi Azad and Deputy Leader Anand Sharma.
Government looking at cushioning slowdown due to demonetisation with sops and higher outlay for micro, small and medium enterprises, agriculture, and affordable housing.
The FRBM report, to be submitted on Tuesday, is likely to have 'excuse clauses', absolving the government of meeting its fiscal commitments under certain conditions such as war or conflict, global economic meltdowns or natural disasters.
There is a need for tax reforms in the country in a bolder way, Singh said.
The WPI has been in the negative zone since November.
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.
Most families had high value currency notes and they used it for making payments during the pre-demonetisation era.
India has expressed concern over the hike in visa fee by the US, saying it is "discriminatory" and largely affects Indian IT professionals.
India's exports shrank in January for the 14th straight month on continued weak demand from Europe
For his first Budget in July 2014, Jaitley inherited a fiscal deficit target of 4.1 per cent of GDP. From 4.1 per cent, the fiscal deficit came down to 3.4 per cent by 2018-19, with two slippages from the budgeted targets, in 2017-18 and 2018-19, the former due to introduction of the GST, says Arup Roychoudhury.
A panel will draft direct tax legislation, keeping in mind the system in other countries, international best practices and economic needs of the country
RBI's latest rate cut is positive for the economy.
'Look at the number of billionaires, the number of new billionaires in India.' 'Adani and Ambani are not the only ones.' 'What's wrong with people making money as long as it benefits us?'
Prime Minister Modi took over power in mid-May with high expectations that it would strengthen India's fragile macro economy and faltering investment and growth.
Relations between the Mint Road and North Block have often been frosty, with the former's calls for lowering rates being the biggest point of difference
Unlike the Advance Estimates which missed the impact of demonetisation, CEA's survey is likely to have a better take on Indian economy.
Economy showing mixed signals, outlook challenging: FinMin
"People giving me unasked for advice of discipline and restraint don't realise that if I disregard discipline there would be a bloodbath," he tweeted in an obvious attack on Jaitley.
The FM said an announcement with regard to the additional steps will be made after consulting Prime Minister Narendra Modi.
The government is moving ahead slowly but steadily.
Despite all of the PM's many strengths, it is increasingly clear that he does not necessarily have a coherent and clear worldview on matters of macro policy.
Reserves provide a cushion against shocks.
Finance Secretary Hasmukh Adhia vacates his post on November 30 and Expenditure Secretary Ajay Narayan Jha, the second seniormost bureaucrat in the finance ministry, retires on January 31, the day before Jaitley presents the 2019-20 interim budget.
As per a PMO statement, Modi told the investors that "he believes in a fair, predictable and consistent tax system
The World Economic Forum's five-day annual summit began in Davos this evening amid hopes of recovery in global economy and a time of renewed terror threats after recent strikes in France and other parts of globe.
The Chinese had enough foreign reserves.
The RBI Governor brought down retail inflation to 3.8% in July.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
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