Duvvuri Subbarao

Sustaining economic growth of 7 per cent or more will require stronger private investment, labour-intensive manufacturing, better human capital and deeper integration into global value chains, former RBI Governor D Subbarao has said. Subbarao also said that the challenge is not merely to grow fast, but to make growth productive, employment-intensive and resilient. "India's 7.8 per cent growth in the first quarter suggests that the economy is more resilient than many expected...I am optimistic about India's medium-term prospects, but not complacent," he told PTI. Recently, the World Bank raised India's GDP growth forecast for the current fiscal year to 7.1 per cent, up 0.5 percentage points from its April projections, supported by robust domestic demand and strong exports, despite global headwinds. "Sustaining growth of 7 per cent or more will require stronger private investment, labour-intensive manufacturing, better human capital and deeper integration into global value chains..

Subbarao said a move in June aimed at drawing more foreign currency by incentivizing non-resident Indians is "too costly" to justify if the main purpose is simply to bolster confidence in the rupee

Subbarao said raising interest rates, the "ultimate" exchange rate defence, should be the last resort, as the markets could read it as a sign the conflict poses a bigger threat to India's economy

Rupee tested a series of new lows recently, slipping to an all-time low of 86.7025 per dollar on Jan 14, and rose 0.3 per cent on January 15

RBI may be looking at the bigger picture, and companies at their balance sheets, says former RBI governor D Subbarao on draft provisioning norms

Former Reserve Bank of India (RBI) Governor Duvvuri Subbarao has said civil services in India have to be reformed and reinvented as the "steel frame" introduced by Britishers to govern India has certainly rusted. Subbarao, who held various positions, including that of the Union finance secretary, wrote in his new book titled 'Just A Mercenary?: Notes from My Life and Career' about the gender gap in the IAS. "The steel frame has certainly rusted," he told PTI. UPSC conducts the civil services examination every year in three stages -- preliminary, mains and personality test (interview) -- to select officers of Indian Administrative Service (IAS), the Indian Foreign Service (IFS) and the Indian Police Service (IPS), among others. "I firmly believe that a country of our size and diversity still needs a generalist service like the IAS but the service needs to be reformed, and even reinvented, in many ways. "The solution is not to throw away the rusted frame but to bring it back to its

Duvvuri Subbarao says policymakers have limited to help the economy as India battles a second wave of Covid-19 cases.

Although the pandemic isn't the first crisis for the country's microfinance industry, it could be its biggest

According to Subbarao, the country is going to face its worst recession in the current financial year

The former RBI governor also says that the Centre's current fiscal stimulus is not sufficient

"Last year's growth was five per cent. Just imagine, five per cent growth last year and we are going to negative or zero growth this year, a decline of five per cent growth," he said

Given the need to ensure economic growth and financial stability

Interview with Former governor, RBI

Duvvuri Subbarao has written an introspective and candid memoir of his testing tenure at the central bank

First things first: on behalf of Business Standard online team, we wish you all the best for March 19 mid-quarter monetary policy review. Frankly, we admire your intellectual honesty in calling a spade a spade. Coming to the point straight, we do get a sense that this time the Reserve Bank of India (RBI) may spring a surprise by cutting the repo rate 50 basis points.