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The IMF sees FY23 GDP growth at 6.8 per cent compared with 7.4 per cent earlier, while the RBI has cut its forecast to 7 per cent from 7.2 per cent
Nageswaran flags climate finance as a key agenda of bloc in face of 'unknown unknowns'
Chief Economic Adviser V Anantha Nageswaran on Monday said India is expected to clock better growth than IMF's projections next year aided by enhanced capital formation. Recently, the International Monetary Fund (IMF) projected 6.8 per cent real growth for this year and 6.1 per cent for next year for India. "I think in fact, the growth rates for the coming years may be slightly more, slightly better than what these numbers are, because I think there is a possibility that India's capital formation cycle will do better after one decade of retrenchment," he said. India's public digital infrastructure has probably crossed an inflection point and that will also be contributing to both formalisation of the economy and therefore higher growth, he said. So, he said, maybe there could be 0.5-0.8 per cent addition to the 6 per cent baseline numbers. He also said that fiscal policy and monetary policy are usually synchronised and counterbalance each other. On high debt-to-GDP ratio, he said
The India ED also represents Bangladesh, Bhutan and Sri Lanka, along with another appointee from one of these countries
V Anantha Nageswaran said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'
Stagflation is the phase when an economy faces moderation in GDP growth as well as high inflation
The move, which marks first time the country is issuing timelines for imports, can put pressure on the global prices of coal as the utilities rush to avoid a repeat of the electricity crisis in April.
'Employment generation is both a near-term and long-term priority', said Nageswaran
Here are his commentaries on a few key issues
Appointment comes when all eyes are on Economic Survey and Union Budget
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.
Subramanian's term is ending on December 6. He's decided to return to academia
The selection committee interacts with key people in the finance ministry and other stakeholders before sending the shortlisted names to the finance minister
GDP data re-affirms govt's prediction of an imminent V-shaped recovery, says K V Subramanian
The financial sector will have to play an important role in infrastructure lending which needs specialised expertise, Chief Economic Adviser KV Subramanian said on Tuesday
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The company has asked an expert to investigate the mishap, even as two of the eight workmen who sustained injuries are under special care
C Rangarajan requests CEA to bring in clarity on GDP growth numbers
The CEA further said the slowdown in the economy is due to a decline in investment, which is a key driver