Referring to Rs 2.11 lakh crore recapitalisation of ailing PSU banks, Chidambaram asked “why was the process of bank recapitalisation needed if the govt believes the economy is strong”.
Rahul Gandhi today accused Prime Minister Narendra Modi and his government of "killing" the economy by firing the "double tap" of demonetisation and GST into its heart.
Rahul Gandhi once again used his movie analogy on Wednesday to take a jibe at Arun Jaitley, who unveiled a Rs 9-crore plan to boost the Indian economy on Tuesday.
Arun Jaitley said India has been the fastest growing major economy for the last three years and the attempt is to maintain high growth rate in coming years.
Prime Minister Narendra Modi said that the Goods and Services Tax (GST) has stopped corruption at check posts on borders of each states.
On fiscal deficit, Bhalla told Reuters that the country is likely to stick to fiscal deficit target of 3.2 percent of GDP in 2017-18.
Arun Jaitley also said the highest priority for the government is to create new jobs as millions of young people enter the workforce every year.
Ramesh Chand said that PM Narendra Modi has asked the NITI Aayog "to do something to bring about transformation in agriculture and doubling of farmer income".
The World Bank yesterday forecast that India's GDP may slowdown from 8.6 per cent in 2015 to 7 per cent in 2017 because of disruptions by demonetisation and the GST.
Congress leader RPN Singh said that PM's EAC was an institution designed to guide on a serious and complicated subject like economy.
Bibek Debroy said that the panel picked 10 issues on which it will initially work. He added that whenever the panel will take any view on monetary policy, it will discuss with RBI.
Jaitley said that some of these steps like the demonetisation, the GST can have a transient impact on manufacturing for a quarter or so. But in the long run, these are institutional reforms and structural changes.
The World Bank said in its report that India's economic momentum has been affected by disruptions from demonetisation and uncertainties around the GST.
Arun Jaitley has said the series of reforms undertaken by the Modi government like demonetisation and the GST has put the Indian economy on a stronger track.
OPEC's Secretary General Mohammed Barkindo said that country's expanding middle class represents a growing source of demand, not just for energy but for goods and services from around the world.
The recent slowdown in India's economic growth is an "aberration" mainly due to the temporary disruptions in preparation for the GST, the World Bank said on Thursday
Manmohan Singh said policy should be a judicious mix of both high rate of economic growth and a strong focus on containing economic inequalities.
Refuting criticism of his government's handling of the economy, PM Narendra Modi said that during the previous UPA regime, economy was below 5.7 per cent eight times.
Prime Minister Narendra Modi on Wednesday addressed the Company Secretaries from all over India at a programme in New Delhi to mark the golden jubilee year of Institute of Company Secretaries of India (ICSI).
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