India's main inflation measure, the Consumer Price Index (CPI), is set for another major update, even though it has been in its current form for only about 15 years.
The Prime Minister's EAC is expected to give its outlook on economy for the current fiscal in a week's time.
'Fiscal and monetary space is more constrained in developing countries because of inflation and high borrowing cost.'
Industrial growth has entered the negative zone in October, two years after the global financial crisis. But Prime Minister's Economic Advisory Council chairman C Rangarajan pins hopes of a revival in the fourth quarter.
He exuded confidence that the Indian economy will grow at 5.3 per cent in 2013-14.
T Nanda Kumar, former food and agriculture secretary, shared his memories of working with former prime minister Manmohan Singh during some of India's most challenging times, highlighting Singh's compassionate leadership and commitment to ensuring food security for all Indians. Kumar recalled Singh's steadfast support during the 2008 global food crisis, where he championed a ban on non-basmati rice exports to secure domestic supplies. Singh's leadership, characterized by intellect and humility, left a lasting impression on Kumar, who considered him a mentor and guiding light.
'The terminal year could yield nine per cent.'
State Bank of India (SBI), in a report on Friday, claimed a significant decline in the headline poverty ratio in rural areas on account of enhanced physical infrastructure, higher consumption growth in the bottom fractile and direct benefit transfers (DBTs).
He says though agriculture and industry would get a fillip in the second half of this financial year, a complete economic revival is expected only in 2013-14.
Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund (IMF) Gita Gopinath said on Friday.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
'It appears the growth rate could be around six per cent'.
Budget has laid emphasis on increasing social spends
Tax devolution shares, which threaten to create a north-south divide among states, may have more to do with per capita income, and not so much with population.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
The government on Wednesday reconstituted the Economic Advisory Council to the Prime Minister (EAC-PM) under existing chairman Bibek Debroy, for a period of two years. V Anantha Nageswaran has been dropped, Rakesh Mohan (former deputy governor of RBI), Poonam Gupta (director general of NCAER) and TT Ram Mohan (professor, IIM Ahmedabad) have been appointed as part-time members of the reconstituted EAC-PM. The other part-time members of the Council include Sajid Chenoy, Neelkanth Mishra and Nilesh Shah.
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
D Subbarao reiterated concerns over rising gold imports and its pressure on current account deficit.
Food Min says decision on Rangarajan panel's report in a time bound manner.
There are indications or signs of the economy picking up -- collection of GST and consumption of electricity, said former RBI governor, C Rangarajan.
The major task of the country is to move as fast as it can to achieve a higher standard of living, said former RBI governor C Rangarajan.
Chhattisgarh, Manipur, Odisha, Madhya Pradesh, Jharkhand, Bihar and Assam figure among the poorest states where over 40 per cent of people are below poverty line.
The Planning Commission in May 2012 had constituted the expert group under the then Prime Minister's Economic Advisory Council Chairman C Rangarajan to review the Tendulkar Committee methodology for estimating poverty, following an uproar over the number of poor in the country.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
Banks should neither be timid nor adventurous while lending as the loans of today should not become NPAs of tomorrow, he said.
Recently, Standards and Poor's had said that there is one third possibility of a rating downgrade of India.
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
The time frame for this is difficult to specify and much depends on stability in the foreign exchange markets, Prime Minister's key economic advisor C Rangarajan said.
According to data released on Thursday, Wholesale Price Index-based inflation rose to seven per cent in October from 6.46 per cent in September.
The economy grew by 4.4 per cent in the first (April-June) quarter of current fiscal. In 2012-13, the gross domestic product growth fell to a decade low of 5 per cent.
Strongly refuting allegations of favouring Reliance Industries, Oil Minister M Veerappa Moily on Friday said the proposed revision in natural gas price will apply to all companies including state-owned ONGC.
Industry chambers also sought conducive policies for completion of large infrastructure projects in time.
Chief Statistician T C A Anant says this a unique crisis and should be dealt with keeping the current situation in mind.
Retail inflation in February has come down to a 25-month low of 8.1 per cent.
As domestic demand for gas will rapidly increase, new gas sources need to be explored.
The Reserve Bank's decision to cut interest rates will stimulate investment and help in anchoring inflationary expectations, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
Government is mulling higher taxes for the rich to help it fund welfare programmes and bring down fiscal deficit. Do you think it is a right thing to do?
The rupee has recovered to trade at 63 level after hitting its life-time low of 68.85 towards August-end.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances