How to make the FRDI bill more effective

By Manas R DasThe 1999 Reserve Bank of India (RBI) report on reforms in deposit insurance in India had recommended to give the Deposit Insurance and Credit Guarantee Corporation (DICGC) powers to act as receiver and liquidator of failed banks. This RBI recommendation was taken to its logical conclusion by the tabling of the Financial … Read more How to make the FRDI bill more effective

View: Statisticians are not crooks. But their methodologies do need to change

By Swaminathan S Anklesaria Aiyar The government has junked the 2017-18 National Sample Survey Office (NSSO) consumption survey which, accordingly to a leaked report, showed total consumption declining by 3.7% between 2011-12 and 2017-18, and rural consumption falling 8%. Protests have erupted from Opposition parties and a group of 214 academics. On the other hand, … Read more View: Statisticians are not crooks. But their methodologies do need to change

View: Despite doubts, there’s enough proof to conclude that foreign trade is good for poor

By Devashish Mitra In the backdrop to India’s recent decision to not join the Regional Comprehensive Economic Partnership (RCEP), the question of trade liberalisation’s effects on poverty has once again come to the fore. In their new book, Good Economics for Hard Times, Economics Nobel laureates Abhijit V Banerjee and Esther Duflo provide an extensive … Read more View: Despite doubts, there’s enough proof to conclude that foreign trade is good for poor

View: Govt and NSSO should not hide data, but make them public to improve them

By Neeraj Kaushal Lies, damn lies, and Indian economic statistics. Can someone comb out the lies from these statistics and tell us the truth? Just to clarify, we are not referring to data on the current state of the Indian economy, which is plummeting fast with no end in sight. We are referring to those … Read more View: Govt and NSSO should not hide data, but make them public to improve them

View: All NBFCs shouldn’t be painted with the same brush

By Keki Mistry For more than a year, an overwhelming drive seems to be underway to label non-banking financial companies (NBFCs) as anathema to the economy. It’s easy to paint all NBFCs with the same brush, but it can be quite flippant to ignore the contributions they have made in addressing economic demand that has … Read more View: All NBFCs shouldn’t be painted with the same brush

India on course for lowest fuel demand growth in 6 years

Growth in demand for fuel in India is on course to fall to its lowest in at least six years as the economy slows and after heavy rains impacted gasoil consumption, which accounts for about two-fifth of the nation’s overall fuel use. In the fiscal year to March 2019, fuel demand rose by 3.4%, the … Read more India on course for lowest fuel demand growth in 6 years

View: India needs RCEP to push much-needed domestic reforms

By Ajit Ranade The Regional Comprehensive Economic Partnership (RCEP) grouping of 16 countries represents half the world population and two-fifth of GDP and trade. It’s also the fastest growing part of the world. Over the past four decades, the world’s economic centre of gravity has decisively shifted from west to east. That is why India … Read more View: India needs RCEP to push much-needed domestic reforms

Led by India, South Asia Becoming Center Of Global Growth: IMF Research

South Asia is moving towards becoming center of global growth, the study said. Washington:  Led by India, South Asia is moving towards becoming center of global growth and could contribute about one-third of the world’s growth by 2040, according to a latest research by the International Monetary Fund.  Notably, under the IMF’s geographical division of … Read more Led by India, South Asia Becoming Center Of Global Growth: IMF Research

China doubts long-term trade deal possible with Trump

By Shawn Donnan, Jenny Leonard and Steven Yang Chinese officials are casting doubts about reaching a comprehensive long-term trade deal with the U.S. even as the two sides get close to signing a “phase one” agreement. In private conversations with visitors to Beijing and other interlocutors in recent weeks, Chinese officials have warned they won’t … Read more China doubts long-term trade deal possible with Trump

View: Economics needs a post-crash revolution

By Mervyn King A decade ago, we thought the banking crisis was over and the expansion already visible in emerging economies would spread to the industrialized world. There’s been a recovery, but a frustratingly slow one. The International Monetary Fund just lowered its estimate of world growth both this year and next. Every data release … Read more View: Economics needs a post-crash revolution

View: India needs one-year programmes that can boost demand during cyclical slowdowns

By Neeraj Kaushal Last week, the International Monetary Fund (IMF) lowered its GDP growth estimate for India in 2019 to 6.1% from its earlier projection of 7.3%. Observers may find even this slashed target a bit on the high side given that growth in the first two quarters of the calendar year has fallen to … Read more View: India needs one-year programmes that can boost demand during cyclical slowdowns

Lack Of Support For IMF Quota Increase Disappointing: India

IMF quotas, which are the primary source of IMF funds, determine voting shares. Washington:  India on Saturday expressed its disappointment over the lack of support to increase the quota structure of the International Monetary Fund (IMF). IMF quotas, which are the primary source of IMF funds, determine voting shares. Quotas are supposed to be reviewed … Read more Lack Of Support For IMF Quota Increase Disappointing: India

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