'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.'
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
Traditionally, Prime Minister picks the RBI Governor after consultation with the finance minister.
Dr Singh sent a signal to Mumbai markets on Wednesday that he meant business -- to first understand, then act. "Wait and watch," a source in PMO said that many changes are expected soon in North Block. He will be visiting North Block next week to the office of Finance Minister in order to meet the junior officials.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
The govt. has set up a panel to review the investments and savings in the Indian economy. The panel will review financial savings and suggest improvements.
The government will implement recommendations of the committee chaired by Dr C Rangarajan, chairman of the Economic Advisory Council, to the prime minister, when it submits the final report.
A study has singled out poverty and growth as the biggest hurdle facing Kashmir.
The Prime Minister's Economic Advisory Council has scaled down its growth projection for the Indian economy for 2007-08 to 8.9 per cent from 9 per cent on account of slow expansion in manufacturing and energy generation. Dr C Rangarajan, head of the group of economists released the review of the economy of 2007-08 and said that the economic growth of India would be hovering around 8.5 per cent during 2008-09.
RBI's current Deputy Governor Urjit Patel got 3-year extension in January.
'We can go somewhere between 35 per cent and 40 per cent.'
A four-member panel of secretaries is likely to submit its report on a new gas pricing mechanism to the government by Wednesday.
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.
'So far as supervision is concerned, there are enough powers but to take action on public sector banks, consultation with the government is needed.'
'...Unless we muck up our policies.' 'We have to become a modernised economy.' 'Our institutions should be stronger. And that is most important.' 'The rule of law should prevail and contracts should be enforced.' 'Above all, we have to recognise the importance of globalisation.' 'It is in our favour at this stage. We should grow and become globally competitive.'
'The Indian economy has been subsidised by the poor.'
Duvvuri Subbarao recounts how his tensions with P Chidambaram and Pranab Mukherjee, then finance ministers, over monetary policy spilled over into other issues in the central bank in this excerpt from Who Moved My Interest Rate?, his memoir of his term as Reserve Bank of India governor.
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
FM needs to convince Indians to invest more in stocks.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
'Let us also not expect that there will be a clean break with the past, much though the new government might like to think about it. In a functional democracy that is neither feasible nor desirable. But basic change it must be,' says Shreekant Sambrani.
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