Page 5 - Chief Economic Advisor

CEA V Ananatha Nageswaran sees RBI holding fire if US Fed hikes rate again

The Federal Reserve left interest rates unchanged on Wednesday while still keeping alive the possibility of more hikes given inflation remains above its 2 per cent target and economic growth is strong

Global warming a problem but can't sacrifice growth, says CEA Nageswaran

Says global economy was going through a period of uncertainty

Govt bonds' JP Morgan index inclusion to boost rupee, help finance CAD: CEA

Fiscal, monetary policies will need to be cognizant of global perceptions and sensitivities, says Nageswaran

CEA Nageswaran plays down impact of weakest rains in over a century

"I don't think we should overstate the worry. Sowing in some regions is low but irrigation levels, reservoir levels are good enough to offset that," he said

GDP growth prospects bright, private capex takes off: CEA Nageswaran

On inflation, Nageswaran said that the food inflation is likely to subside with the arrival of fresh stock in the market and government pre-emptive measures

Private sector capex will be key contributor to growth: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran expressed optimism about India's growth potential on Thursday during a special interactive session organized by FICCI

Monsoon has arrived, agri sector looks healthy: CEA V Anantha Nageswaran

CEA Nageswaran said that India is 'well covered' in handling the impact of monsoon on output and prices

CEA says Universal Social Security may create perverse incentives

Chief Economic Advisor (CEA) V Anantha Nageswaran on Friday dismissed the idea of Universal Social Security, saying it will create a ground for "perverse incentives" for people and dissuade them from seeking income generating opportunities. He said the concept of Universal Social Security is not favourable for developing countries like India which need to focus on economic growth to take care of aspirations of its people. For a developed country, which doesn't have income generating opportunities and employment generating opportunities, he said the State may have to step in and provide the universal basic income kind of coverage. "For our country when natural economic growth should take care of many of the aspirations, it (Universal Social Security) may not be necessary. We may be creating the ground for perverse incentives for people to not make their own effort in seeking such opportunities. So therefore, Universal Social Security for India is not something that should be on the .

Defending GDP figures, former CEA K Subramanian attacks his predecessor

Former CEA Krishnamurthy Subramanian said that his predecessor Arvind Subramanian could have 'easily picked up the phone and spoken to the chief statistician' something was wrong with GDP figures

India poised for world-beating growth, says CEA V Anantha Nageswaran

Data next week is likely to show the economy expanded 7% in the year that ended March

Finance ministry's May economic report may be FY23 Eco Survey update

It could be the first time that CEA would use MER to give a detailed analysis of last FY

India's external situation stable, says CEA V Anantha Nageswaran

G20 second framework working group meeting to discuss global macroeconomic issues

Global uncertainty rising, need to maintain margins of safety: V Nageswaran

Chief Economic Advisor V Anantha Nageswaran on Thursday said the global uncertainty has been rising after the recent developments in the United States and governments, businesses and individuals should keep 'margins of safety' in fiscal, corporate and savings account planning. He said the global growth estimates of the International Monetary Fund (IMF) given in January looks outdated and countries will have to watch what the developments in the US over the last week would do to confidence, bank lending growth and the subsequent chain effects. Two banks in America have gone belly up over the last week. Signature Bank, New York, which lent mostly to crypto industry was shut down by the regulators on Sunday after there was a run on their deposits. Besides, the failure of Silicon Valley Bank last week left many startups, tech companies, entrepreneurs and VC funds nervous and jittery. SVB, the 16th largest bank in the United States, was closed on Friday last by the California Department

Free markets may not create competition on their own: CEA Nageswaran

'Morality, ethics should undergird free-market economy'

Data revision of previous years behind decline in manufacturing in Q3: CEA

Chief Economic Advisor V Anantha Nageswaran on Wednesday said the performance of the manufacturing sector and growth rate in private consumption expenditure in the December quarter of 2022-23 is appearing 'depressed' because of higher base. According to Nageswaran, the GDP growth base was inflated due to data revision for the past three years. The National Statistical Office (NSO) on Tuesday revised GDP growth data for the past three years -- 2019-20, 2020-21 and 2021-22 and also released the second advance estimates of GDP for 2022-23. While the growth rate for 2021-22 has been revised up by 40 basis points to 9.1 per cent, from 8.7 per cent, the GDP for 2020-21 (Covid impacted year) too has been revised upwards to (-) 5.8 per cent, from (-) 6.6 per cent. For 2019-20 also, the growth has been revised upwards to 3.9 per cent, from 3.7 per cent. However, the second advance estimates for 2022-23 real GDP growth was retained at 7 per cent -- as was projected in first advance estimate

G20 meet aims to find 'lasting solutions' to global debt issue: Govt

"There are countries that are facing huge debt problems and our aim in G20 will be to find lasting solutions to these problems"

Top headlines: Budget to push spending, Adani's FPO sails through, and more

Business Standard brings you the top headlines at this hour

Here is what CEA Nageswaran said on the morning of the Economic Survey

Nageswaran said that the Economic Survey provides a 'bird's-eye view of happenings in the economy

Budget 2023-24: T V Somanathan to Ajay Seth, meet the FM's crack squad

The Modi government will present its last full Budget on February 1 as the 2024 Budget will be a vote on account because the nation will be heading for the hustings from April next year

India economy to reach $7 trillion mark in next seven years: CEA Nageswaran

Nageswaran added that the economy will be $3.5 trillion by the end of the current fiscal, FY23