An official announcement to this effect would be made next week. The vice-chairman would be of Cabinet rank.
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 size of the GDP in the second quarter of 2018-19 is estimated at Rs 33.98 lakh crore, as against Rs 31.72 lakh crore a year ago
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.
The recent rupee depreciation and capital outflows could adversely impact the country's economy.
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.
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
The data profiles the country's rural households.
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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.
Gambhir also took a dig at Qureshi's emphasis on a "new Pakistan" under Khan, saying while the Indian delegation had come to listen to Pakistan's "new" foreign minister outline the vision of a new Pakistan, "what we heard is a 'New Pakistan' cast in the mold of old."
'For the RBI, it is also strategic to allow the rupee to over-depreciate, then come and buy the rupee, and benefit from its appreciation. Speculators who have driven the rupee too low then make losses,' says Ashima Goyal.
Since end-May there has been volatility in the foreign exchange market.
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.
The new rates, which are likely to be at $8-8.4 against the current price of $4.2 per million British thermal unit, are based on the recommendations of a committee that was appointed by Prime Minister Manmohan Singh at the request of Moily's predecessor, S Jaipal Reddy.
Businesses are still taking time to adjust in the new tax regime, which would weigh on growth rates for the financial year closing today.
'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 previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
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Raghuram Rajan, who took over as RBI Governor on September 4, is scheduled to unveil on Friday mid-quarter monetary policy review, an event keenly awaited by industry and banks.
The Prime Ministry's Economic Advisory Council Chairman also said fiscal deficit is a concern too and suggested raising domestic oil prices to restrict it to the budget target of 4.8 per cent of the gross domestic product in this fiscal.
'It appears the growth rate could be around six per cent'.
India's economic growth had slumped to a decade's low of five per cent in 2012-13.
The terms are the same as those suggested by a panel headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan for awarding future oil and gas block contracts.
Disagreeing with Reserve Bank's projection on the price situation, former RBI Governor and PM's Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
With certain quarters demanding privatisation of public sector banks in the aftermath of the alleged fraud at Punjab National Bank (PNB), Economic Advisory Council to the Prime Minister chairman Bibek Debroy tells Sanjeeb Mukherjee, Ishan Bakshi and Indivjal Dhasmana that reducing government equity even to zero would not mean giving up of government control over these banks.
The former finance minister was in Mumbai to address Congress party's poll rallies.
The global rating agency expects the economy to pick up in the next two financial years.
Experts believe scrapping some projects is likely to bring some stability in road sector.
'The economy may not improve unless you admit there are some problems.'
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
Growth is going to be an important factor in contributing high tax revenue and in containing the fiscal deficit.
'Poor home work, and a subsequent loss of nerve.' 'This sums up the Modi government's current travails, the stall in key sectors, fading momentum, irritability,' points out Shekhar Gupta.
IMF projected India's economic growth at 4.25% in 2013-14.
Budget has laid emphasis on increasing social spends
Finance Commission has got new team who are committed to growth initiatives.
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
The prime minister's economic advisory council was disbanded early on, and not reconstituted.
The need of the hour is to strike a balance between the capability of the conventional and the prospect of the renewable to give a realistic shape to the Prime Minister's vision, says Rajiv Mishra.
Government has put on auction the gas discovery area it snatched from Reliance Industries in KG-D6 block and the field that Cairn India is seeking to regain around its Rajasthan block.
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