Moody's Diron said that, not only was India's debt burden high relative to other countries with the same credit rating, but its debt affordability was also low
Modi's support would be important if the 53-year-old RBI chief is to get the banking sector to complete a cleanup of massive debts and force defaulters to pay up.
From being the chief secretary of Rajasthan who was spearheading economic reforms, IAS official Rajiv Mehrishi now takes charge as the new Finance Secretary of India.
Arvind Mayaram, who was shunted from finance ministry to tourism, has now been transferred to minority affairs ministry even before he took charge.
Mayaram, who has twin roles as both finance and economic affairs secretary and was appointed by the previous government, has been shifted to the tourism ministry.<br />
Mayaram garnered support from the emerging market economies like China and Indonesia while batting for the need to have greater international policy co-ordination to deal with the negative spillovers
The Finance Ministry has already initiated the exercise for Budget 2015-16 by seeking inputs from various Ministries and Departments.<br />
Mayaram argued that the wholesale price (WPI) inflation is at the lowest level since October, 2009 and retail inflation (CPI) is less than 8 per cent which is the target for this year according to a RBI panel report.<br />
The other proposals before the FIPB include Holcim (India) Pvt Ltd, O-zone Networks Pvt Ltd and Turner General Entertainment Networks.<br />
The Central Government on Friday said it would borrow Rs 2.40 lakh crore from markets in the second half of the current fiscal, Rs 8,000 crore less than the annual estimate.<br />
Lower crude prices mean less government outlay for India, which imports 80 percent of its oil needs - at a cost of $168 billion last year - and subsidizes oil products such as diesel and fertilizer.<br />
He further said the policies pursued by the Emerging Market Economies (EMEs) to bring growth back have been effective and India stands committed to the incremental 2 per cent growth in the global GDP.<br />
The board also gave a go ahead to Indusind Bank's proposal with regard to foreign investment
Moody's has assigned 'Baa3' rating on India, with a stable outlook, which suggests the possibility of an upgrade.<br />
The Budgeted disinvestment target of Rs 58,425 crore include Rs 43,425 crore from selling stake in PSUs and another Rs 15,000 crore from sale of residual stake in the erstwhile government companies.<br />
Finance Secretary Arvind Mayaram said on Thursday he hoped diesel subsidy would be wiped out soon and prices would become market-determined if current global oil prices hold.<br />
Finance Secretary Arvind Mayaram told an industry event that industrial production data suggested that corporate order books are building up.
The Finance Ministry today expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
The Finance Ministry today indicated that restrictions on gold import scheme are likely to continue till situation becomes "more comfortable".