The temporary disruptions (primarily to private consumption) caused by cash shortages accompanying the currency exchange initiative are expected to gradually dissipate in 2017 as cash shortages ease, the International Monetary Fund said in its regional economic outlook.
P Chidambaram said that the fiscal deficit target for 2013-14 will be met and the current account deficit will be contained below $40 billion.
India's exports shrank in January for the 14th straight month on continued weak demand from Europe
Rate sensitive sectors were among the top gainers with Tata Motors and ICICI Bank leading the gains on the Sensex.
The opposition party also claimed that the Modi 2.0 dispensation has turned out to be an "economic and political disaster" and "constant rollbacks" of economic decisions will lead to worsening of the economic situation.
Reserve Bank-sponsored professional forecasters on Monday scaled down India's growth projection to 4.8 per cent for the current fiscal from 5.7 per cent estimated earlier.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
The Reserve Bank on Tuesday said growth is expected to fall below 5 per cent in 2013-14 in absence of pick-up in manufacturing sector, but likely to recover to 5.5 per cent in the next financial year.
The government will unveil the Consumer Price Index data and the Wholesale Price Index data for August on Monday.
Managing expectations is a challenge for policymakers.
The Survey shows fiscal consolidation despite slowdown in growth.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
The central bank tweaked the retail inflation range to 4.8-4.9 per cent in the first half of 2018-19, and 4.7 per cent in the second half.
Amid imminent phasing out of the fiscal stimulus by US Federal Reserve, Prime Minister Manmohan Singh on Wednesday called for an "orderly exit" from unconventional monetary policies being pursued by the developed world for the last few years to avoid damaging growth prospects of the developing world.
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
The Budget decides to take the lead in revving up infrastructure.
FM indicates adherence to fiscal road map, benign tax rates, correction in inverted duty structure
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
Foreign exchange reserves of the oil producers have increased by $1.1 trillion over the past decade.
He wants Jaitley to give investors more clarity on policies
The sharp fall in rupee since the beginning of May will make things difficult for the central bank which is on the path of easing the monetary policy to revive growth.
Governor Rajan can be more unambiguously pro-growth.
The restrictions on gold imports will be reviewed by March end, Finance Minister P Chidambaram said on Monday.
It's the beginning of a rate reduction cycle
'We first need to acknowledge the truth.' 'We are trying to diminish the problem and say, everything is okay and green shoots are emerging.' 'Imagine you are a doctor and not getting accurate medical reports, how do you diagnose and treat the illness?' 'We are not dealing with a terminal illness here, we are dealing with BP and cholesterol, which are imminently curable.'
Taking on board India's concerns, the G-20 Summit on Friday acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
The CAD in 2012-13 was at 4.7 per cent of GDP and in 2013-14 it will only 1.7 per cent, the Finance Minister said.
The union government is expected to cut two per cent import duty in gold in the forthcoming budget, as local jewellers run out of inventory, a leading US brokerage said.
Banks might not have realised the exact implication of risky projects under PPP projects, which were getting implemented under high leverage
'Nationalism built on divisiveness cannot strengthen the country, or help the economy improve its performance,' points out T N Ninan.
Telecom giant Bharti Airtel on Wednesday reported a 9.6 per cent fall in net profit at Rs 688.9 crore (Rs 6.88 billion) for the first quarter ended June 30, 2013.
'Success will require political skill, not just economic expertise'
Arun Jaitley presented the Union Budget in Parliament on Saturday.
A V Rajwade wonders if the Modi sarkar is pursuing price stability at the cost of potential social instability in both rural and urban India.
Finance Minister Arun Jaitley presented the Union Budget.
This was at a meeting of the Financial Stability and Development Council, chaired by him. Chidambaram, set to resign on Friday to make way for his successor, called upon the regulators and the ministry to be ready and take necessary action.
