The Twelfth Finance Commission on Monday warned that rising fiscal deficit of the Centre and the states at over 10 per cent of GDP in 2002-03 may have an "adverse" impact on debt, developmental expenditure and growth.\n\n\n\n
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
The GDP growth for 2013-14 has been lowered to 5.3%, from 6.4% in April.
This is because the bond market has factored in the Rs 4.88-trillion gross borrowing for April-September 2020.
A top Finance Ministry source, however, said no discussion has taken place in the government so far on whether to extend Rajan's tenure or not.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
The Reserve Bank in its first mid-quarter policy review on Monday kept the key interest rates unchanged because of elevated food inflation, rupee depreciation and uncertainty over foreign fund inflows.
Data earlier on Thursday showed the annual consumer price inflation rose to a higher-than-expected 11.24 per cent in November from 10.17 per cent in October.
Indian markets may see some weakness in stocks post Fed hike.
There has been criticism of the official statistics ever since MoSPI came out with new methodology to estimate the GDP on the base year of 2011-12 compared to earlier 2004-05.
The new government on June 25 decided to defer the implementation till September-end to hold wider consultations.
Rajan will evolve a policy with the help of professional persons for a national consensus if we have to carry on with implementing social and economic changes in a complex economy.
As a well-wisher of the Indian Statistical System and part of the system for more than 37 years, Sunil K Sinha, former DG and CEO of NSSO, offers suggestions to improve data quality.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
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.
The 14-member task-force will develop a working definition of poverty.
India's economic growth rate is expected to be at least 6 per cent in the 2013-14 fiscal, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said.
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The number of poor in the country declined to 27 crore (270 million) in 2011-12, from 40.74 crore in 2004-05, Minister of State for Planning and Parliamentary Affairs Rajeev Shukla said on Wednesday.
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The food inflation in July softened to 11.24 per cent from 11.84 per cent in the previous month, according to the official data released on Monday.
'If there is an RBI majority in the committee, there is no question of a veto.'
On the reduction in the SLR ratio, he said it was a signal from the point of view of long-term reforms.
'Every person is a Jatayu, each one of you can be Jatayu, both men and women,' says temple priest behind the group set up to prevent atrocities on women and young girls.
Earlier in his address, he said with over 500 million bank accounts in the country, it is estimated that the Indian banking system produces over one billion transactions a day.
The price of vegetables in general rose by 77.81 per cent making life difficult for the common man.
Since end-May there has been volatility in the foreign exchange market.
On the present government's 'Make in India' campaign, C Rangarajan, former chairman of the Prime Minister's Economic Advisory Council, says it is important to first ask for whom it is being made.
C Rangarajan, chairman, Prime Minister's Economic Advisory Council tells Business Standard that the measures taken by the government will lead to economic growth of at least 6 per cent in FY14 against a decadal-low growth of 5 per cent in FY13.
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The marginal improvement in the index of industrial production was mainly on account of higher power generation and mining sector output, while manufacturing declined.
The data profiles the country's rural households.
Rejecting IMF and World Bank's "unduly" pessimistic projections, Prime Minister's key economic advisory council chairman C Rangarajan on Thursday exuded confidence that the growth would be around 5.5 per cent in the current fiscal.
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
Since end-May there has been volatility in the foreign exchange market.
"I would hope that the government would very respectfully request him to continue for one term or my preference would be two terms," Narayana Murthy said.
The RBI governor has to convert the zero-sum game with the government from a non-cooperative one -- which his two predecessors had made it -- to a cooperative one, explains T C A Srinivasa Raghavan.
Going by its past experience of differences between the central bank and the finance ministry, the government might prefer a person who could bridge this gap.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
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