Eminent economist Arvind Subramanian has resigned as professor from Ashoka University, two days after noted political commentator Pratap Bhanu Mehta's exit from the institution.
India is facing a "Great Slowdown" with its economy headed for intensive care unit primarily due to a "second wave" of the twin balance sheet crisis at banks, former Chief Economic Adviser Arvind Subramanian has said.
Progress on the steps taken by Governor Shaktikanta Das’ predecessor Urjit Patel to restore financial system integrity will be a key thing to assess any damage to the institution.
In a tweet, Gandhi said demonetisation, like the Rafale deal, was "a crime against India" and noted that former Defence Minister Manohar Parrikar had distanced himself from the deal to purchase fighter jets to "save his skin."
The RSS affiliate also alleged that Arvind Subramanian lacked an understanding of the country and "ignored" farmers.
Subramaniam said recognition is identifying stressed assets to avoid non-performing assets and resolution means to go through the bankruptcy code.
Launching the "State of the Agent Network" report on Wednesday, CEA Arvind Subramanian said that providing essential goods and services to citizens was only the first policy step towards financial inclusion.
Amid spiralling petrol and diesel prices, Chief Economic Advisor Arvind Subramanian on Monday called for petroleum products to be brought under the ambit of the Goods and Services Tax (GST).
CEA said that among the positive lessons of last year was a significant one that related to public attitude and perception.
The pre-budget survey further said policy priorities over the short term focused on reviving investments by mobilising savings and encouraging the conversion of gold into financial savings.
The economy, said the survey for 2017-18, will grow on the back of major reforms which would be strengthened further in the next financial year.
The Congress leader asked if the Prime Minister had read the economic advisor's report on Revenue Neutral Rate in which he had recommended an RNR of 15-15.5 per cent.
Interest burden of Rs 1.35 lakh crore recapitalisation bonds on the government would be about Rs 9,000 crore, Chief Economic Adviser Arvind Subramanian said on Tuesday.
Arvind Subramanian said all emerging economies face this problem, with a surge in capital inflow putting pressure on the exchange rate.
Earlier there were reports that the CEA had submitted his resignation to the government, which was denied by the ministry officials.
According to informed sources, the CEA also discussed the present inflationary situation in the country.
“There will be some hurdles initially. But we will be able to remove them in 1-2 months,” Subramanian said.
CEA Arvind Subramanain blamed the RBI’s inflation forecasting methodology and said the errors have been large and systematically one-sided in overstating inflation
Chief Economic Advisor Arvind Subramanian today slammed global credit rating agencies for not upgrading India despite clear improvement in its economic fundamentals.
Responding to a question on the H1-B visa during his visit at the Peterson Institute, a top American economic think-tank, last week, the CEA noted that a majority of Indian exports in the services sector go to the United States.
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