Bimal Jalan

In a letter to the UPSC, Union Minister Jitendra Singh said Prime Minister Narendra Modi firmly believes that the lateral entry process should uphold the principles of equity and social justice

The Jalan Kalrock Consortium (JKC), the successful bidder of the grounded Jet Airways, on Tuesday withdrew its plea before the NCLAT to move Rs 200 crore, which it paid to lenders, to an escrow account. The withdrawal comes after the National Company Law Appellate Tribunal (NCLAT) refused to give any relief to JKC. An NCLAT bench headed by Chairman Justice Ashok Bhushan said the matter is already before the Supreme Court. Following this, the Consortium of Murari Lal Jalan and Florian Fritsch withdrew the appeal. "Until the shares of the corporate debtor (Jet Airways) are not issued to the successful resolution applicant (consortium), pass necessary directions requiring the MC (monitoring committee) lenders to transfer the sum of Rs 200 crore infused by SR (successful resolution applicant), in the share application account to an interest bearing escrow account," JKC had said in its plea before the NCLAT. The tribunal asked the JKC either to withdraw its plea or face dismissal, on wh

Ace approached the National Company Law Appellate Tribunal (NCLAT) two weeks ago seeking to expedite the sale of three aircraft in Mumbai in the same case

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

If the finance ministry wants private investment to revive, it must make things easy for it and resist the temptation to go on spending just because it can

Last year, the transfer of Rs 99,126 crore was for a nine-month period ended March 2021

Notwithstanding economic uncertainties triggered by the Russia-Ukraine war that is also impacting the global supply chain, Jalan said it is not going to affect India's economic performance

Successive govts have appointed excellent economists, not because they wanted their advice, but because someone has to prepare the Survey and maybe speak on behalf of the government as a spokesperson.

Making RBI's professional skills comparable to the best in the world will not be easy because those who have to be supervised the most - the PSBs - are owned by the govt, which also owns the RBI

From 1991 onwards, the RBI became a full, if slightly junior, partner of the finance ministry, instead of being a 'mere subordinate department of the financial ministry'

Describing the Budget 2021-22 as "extremely good", former RBI governor Bimal Jalan on Tuesday said that India's high priority for now should be to grow at 7-8 per cent, and then give a "great preference" for employment rather than only investment. In an interview with PTI, Jalan further said it does not seem that India will be able to achieve a USD 5-trillioneconomy target by 2024-25. "This year's Budget is extremelygood... I think the rate of growth in India should be 7-8 per cent," he said. The Economic Survey 2020-21 has projected an 11 per cent growth for 2021-22, aided by V-shaped recovery and a 7.7 per cent contraction for the current year. "That is the high priority (7-8 per cent growth rate). Once you have 7-8 per cent growth then there are issues about employment, and we should give a great preference for employment rather than only investment," Jalan said. The former RBI governor said in the next 18 months, India's economic growth will hopefully bounce back to pre-COVID-

We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, writes Jayanta Roy

Sen said that on the face of it, the package looked good, with roughly the kind of damage that has happened to the economy

P C Mahalanobis was the econometrician-economist who guided Jawaharlal Nehru's economic thinking

Even that's enough for the parched earth of government finance

In retrospect, the government's move to get more RBI funds for itself has paid it no dividend

Does the RBI ever foresee a position where they will intervene and the rupee will ever become Rs 50 to a dollar, said Goyal

One of the reasons Jalan can afford to be forthright is that he has seen it all in his 78 years

The RBI board has decided to transfer the excess reserves to government based on the Bimal Jalan committee report on the appropriate economic capital framework

The committee said it will become a precedent for using rupee depreciation to fund fiscal expenditure