Panagariya, who heads the government's main economic advisory body NITI Aayog, is also India's Group of 20 summit negotiator
The main difference of opinion between RBI and FinMin is over the transfer of the RBI's 'excess' capital reserves. The Jalan panel seeks to convince finance secretary Subhash Garg to soften his dissent note language. The move is aimed at maintaining the now-cordial relations between the RBI and the finance ministry.
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The development comes after the National Democratic Alliance government this year broke a 92-year-old tradition of presenting a separate Railway Budget, according to suggestions made by the Debroy committee.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
The Centre's proposal to call for governance reform in the RBI could, however, take a back seat, a source privy to the development said.
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.
Forced into the confinement of jail after his bail plea was rejected, self-styled godman Asaram Bapu on Wednesday sought for his routine diet, gangajal and a special bed besides other facilities which were denied by the jail administration.
Modi will also need to reconcile market demands with those from forces within his own administration
DBS called Rajan's decision not to seek an extension as a 'negative surprise'.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
Most central banks across the world have around 5-7 years of tenure for the governor and deputy governors.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
The former RBI deputy governor talked about the prospects of an economic revival, reforms in IMF, etc.
Corporatisation of NHAI was one of the achievements of the NDA govt.
'One wishes that today's 'take no prisoners' brand of politics would give way to an understanding of the national interest that is shared by both government and Opposition.'
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
'Only the coming years will tell whether the government finds this an easy way of relieving itself from its fiscal constraints.'
'The Jalan Committee has now provided very clear guidelines on how the (RBI's) balance sheet should be looked at, what kind of disclosures should be made, what are the principles on which the Contingency Risk Buffer should be maintained, what should be the revaluation reserves, and the market risk to the Contingency Risk Buffer.'
In 2013, the government awarded less than 1,500 km of road projects under the EPC mode after it found no takers for PPP projects.
Union Railway Minister Suresh Prabhu aligns priorities, funding and organisation to shape a transformation agenda.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
Government to pay disproportionately high interest for borrowings from savings, overturning a nearly two-decade-long process of reforms in the management of public debt.
The government's critics say that the Prime Minister failed to rein in vicious and unprecedented personal attacks on the central bank chief by the likes of Rajya Sabha MP Subramanian Swamy.
'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.
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
A brief report card on Modi's ministers.
IMF attributes the slower growth rate to supply-side bottlenecks.
Today, people are happily raising 80-85 per cent through home loans, and if they still don't have enough, the rest is raised through a personal loan.
Railways must pull back its share of freight traffic.
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