In the absence of a careful approach, as the RBI highlighted, 7.5 crore zero-balance accounts will become a liability to the system
In a worst-case scenario, the Jan Dhan Yojana could cost banks or the govt upto Rs 13,500 crore annually. But once more subsidies are moved to direct transfers and bank accounts, it will break even
The Indo-US WTO deal allows us more time to fix our food subsidy issue, but signing the TFA means we have to spruce up our manufacturing sector fast.
India will not support a trade protocol ahead of a July 31 deadline unless concerns about its food subsidies are met, two senior government officials said on Wednesday, a position that threatens to derail a landmark global trade deal. <br />
The RBI is confident of India's Current Account Deficit (CAD) coming under control and of the country's trade numbers being healthy this month, Reserve Bank of India Governor Raghuram Rajan said in an interview with CNBC-TV18 today.
The subsidy bill is beginning to look very suspicious. The fertiliser minister has already said this year's subsidies are out of alignment with requirements
Despite the diesel price hike, the subsidy burden in the budget is not going to come under control. Without further steps, there is no fiscal nirvana
Economists are keeping their fingers crossed on what lies ahead. But their prescriptions are clear: fiscal consolidation, energy pricing reforms, and rationalisation of subsidies.