CEA asks govt to end forbearance window for borrowers, pitches for setup of 'bad bank' to deal with NPAs
A bad bank is a financial institution that takes over bad assets of lenders and undertakes resolution. Lenders have been making a case for a bad bank to ease pressure of bad loans in these difficult times
India identified the nature of the coronavirus crisis and treated it differently from other economic crises of the past, he noted while addressing a virtual conference organised by industry body CII
Chief Economic Adviser KV Subramanian on Friday said that the government recognised the need to cut the corporate tax to boost investments
Growth slowdown due to local, global factors; govt taking steps to revive economy: CEA KV Subramanian
Attributing the slowdown in GDP growth to domestic and global factors, Chief Economic Adviser KV Subramanian on Friday said the government is taking various steps to boost economic expansion
Union Budget 2019 PDF: Full text of Nirmala Sitharaman's maiden Budget speech in Parliament; download here
Union Finance Minister Nirmala Sitharaman presented her maiden Budget speech in Parliament on Friday. She started by thanking the voters for re-electing the Narendra Modi-led NDA government, while adding that India has stamped its approval on a performing government as BJP worked to empower the citizens, following the motto of Mazboot Bharat ke liye Mazboot Nagarik.
The vision for electric mobility highlighted in Economic Survey is encouraging for electric vehicle (EV) makers and will clear doubts amongst fence sitters and motivate them to come up with new energy products, according to industry players
Economic Survey 2019 says airports, monuments, trains, roads could be named after highest taxpayers over decade
To improve tax compliance, the Economic Survey 2018-19 on Thursday suggested that the government could consider giving top-10 taxpayers in each district recognition by way of "diplomatic"-type privileges at the immigration counter, express boarding at airports, and even naming of roads, buildings and schools
Economic Survey 2019 says India needs to raise retirement age as country set to witness sharp slowdown in population growth
Sounding a note of caution, the Economic Survey Thursday said India is set to witness a sharp slowdown in population growth over the next two decades
Economic Survey 2018-19: CEA rejects Arvind Subramanian's claims, says hard to create wrong narrative
Chief Economic Adviser K Subramanian on Thursday seemed to rubbish his predecessor Arvind Subramanian claim of India overestimating its growth rate, saying that it is very hard to create a narrative which is different from the truth
Economic Survey 2018-19: Investment in excess of 35% of GDP required to push growth to 8%: CEA KV Subramanian
KV Subramanian Thursday said India needs to accelerate investment in excess of 35 percent of the GDP to achieve 8 percent sustained growth
Economic Survey 2018-19: GDP growth of 7% for current fiscal a pragmatic target, says industry bodies
Industry chambers on Thursday termed the 7 percent GDP growth for 2019-20 pegged by the Economic Survey a 'pragmatic target' that pointed towards a cautious optimism about the economy on the back of investment revival and rural consumption
The government is expected to further ease the foreign direct investment (FDI) norms with a view to bridge the widening current account deficit (CAD), according to the Economic Survey 2018-19
Economic Survey 2018-19: Gross tax to GDP ratio dips to 10.9% in FY19 on shortfall in indirect tax revenues
The gross tax to GDP ratio declined to 10.9 percent in 2018-19 as indirect tax revenues fell short of budget estimates by about 16 percent, due to shortfall in Goods and Services Tax (GST) mop up, the Economic Survey said
India's GDP growth overestimated by 2.5% between 2011-12 and 2016-17: Former chief economic adviser Arvind Subramanian
India's GDP growth rate between this period should be about 4.5 percent instead of the official estimate of close to 7 percent, Arvind Subramanian said
CEA Krishnamurthy Subramanian says need to focus on meaningful employment; there is misinformation regarding jobs data
Subramanian said that the gross capital formation has now picked up adding that an effect of investment on growth is often felt with a lag
Govt appoints ISB professor Krishnamurthy Subramanian as Chief Economic Adviser for a period of three years
The post of CEA had been lying vacant since Arvind Subramanian left the finance ministry after a four-year stint earlier this year.
Subramanian who appeared before the Parliament's committee on estimates was not convinced that the NPA issue would be resolved within a year or two, as claimed by the bankers, sources said.
Of the gross NPAs, the public sector banks accounted for Rs 7.77 lakh crore.
Pitching for radical reforms in the banking sector, Chief Economic Adviser (CEA) Arvind Subramanian on Thursday said that time has come for rethinking on the ownership of public sector banks (PSBs) in India
Jobs, agriculture sector to get big push in Budget 2018, hints Economic Survey; pegs GDP at 6.75% this year: 10 points
Economic Survey says GDP growth has averaged 7.3 percent from 2014-15 to 2017-18, which is highest among major economies of the world