'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
The Indian government will present the annual budget for 2016-17 on February 29.
RBI Governor Shaktikanta Das on Friday said that inflation is on a declining trajectory, as it has fallen by 170 basis points from its January 2020 peak. Retail inflation fell to four-month low of 5.91 per cent in March over the previous month, mainly due to easing food prices.
"The fourth quarter results of GDP data showed a phenomenal 7.7 percent growth rate and has established India firmly as the fastest growing global economy. This trend, according to experts, is likely to continue for the next few years," Jaitley said in a Facebook post.
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
The government on Friday admitted that providing more and better jobs to the young still remained a challenge, even as the Indian economy was back on a high growth path after hit by the global financial crisis for two years.
An asset swap can simultaneously boost public investment, reduce the fiscal deficit and keep fiscal policy from being pro-cyclical.
Asian Development Bank on Thursday pegged India's economic growth at 7.4 per cent for 2004 and said high growth is likely to be sustained in medium term.
Indian Economy poised for growth, say experts.
A lot depends upon the composition of the monetary policy committee.
The rate hike in the future is set to be 'calibrated and cautious'.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
ADB projected China's growth to decelerate from 7.4 per cent
Most brokerages have maintained their Sensex and Nifty targets as they believe there is little room for further re-rating in the backdrop of weak earnings.
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
'The Chinese devalued the yuan initially but then stopped'.
Expressing disappointment over the RBI's move for not cutting the key policy rates, India Inc on Tuesday asked the government to take immediate action to revive growth and boost investments.
The Reserve Bank on Thursday said the macroeconomic risks to the Indian economy have increased over the last six months due to the fall in growth, external sector developments and subdued performance of the corporate sector.
Finance Minister Pranab Mukherjee on Wednesday said the proposed Direct Taxes Code would give an edge to the country while dealing with international taxation issues.
The report further noted that inflation is expected to fall to 4.5 per cent by quarter ended March 2017.
A senate panel has approved a legislation which blocks $300 million United States military aid to Pakistan.
US President Barack Obama has proposed a $3.2 billion assistance for Pakistan for fiscal 2011, a substantial jump in American aid to that country.
Even as rising crude oil prices, trade war fears and a sliding rupee cast a shadow on market sentiment, Nischal Maheshwari, chief executive officer for institutional equities and advisory at Centrum Broking, tells Puneet Wadhwa that in the next one year, the outcome of the 2019 general election is a bigger challenge for the market.
Reddy has worked to reform the economy.
Announcing the visit from June 25, the external affairs ministry on Monday said the Modi-Trump discussions will provide a new direction for deeper bilateral engagement.
The government planned to borrow 10-15 per cent of the total borrowing offshore. That works out to at least Rs 71,000 crore, or about $10.4 billion at Friday's exchange rate.
While there has been a rash of growth estimate cuts, including a 0.70 percentage point reduction by the RBI last month to 6.1 per cent, the Japanese brokerage's estimate is so far the lowest.
Given the macro setting, the outlook remains positive for each of the four key parameters - inflation, current account deficit, fiscal deficit and currency stability, says Rahul Bhushkute.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
Analysts welcomed the better Q2 GDP readings of 4.8 per cent, which came in above their expectations, but warned that the planned expenditure cuts by the government will be the key thing to watch out going forward.
From the appointed date, the authorised capital of the private sector bank would stand altered to Rs 5,000 crore and the number of equity shares at 2,400 crore having face value of Rs 2 each.
Experts hail Budget 2015 as a progressive, growth oriented one.
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
In his first interview since becoming the chief economic advisor, Arvind Subramanian agrees the Narendra Modi government has taken some initial steps to revive private investments but says many more measures would be required to restore macroeconomic stability - reining in inflation and fiscal deficit - and bring the economy back on high-growth path. Subramanian, who has earlier worked in the research department of the International Monetary Fund, tells IMF Survey, an online magazine of IMF, that the Gujarat model is to be replicated across India but there also are macroeconomic problems at the national level that need to be addressed.
Significantly, about half of the CEOs who took part in the survey indicated that they propose to increase their investments in near future, 45 per cent cited no change in investment levels, while only 5 per cent expected a fall.
The report said inflation is expected to remain below 5 per cent over the two years.
Economy improving but long way to full recovery, says FSDC.
'There shall be no change in India-Japan ties,' predicts Rajaram Panda.
