The CEA has good reason to be worried about the insufficiency of domestic resources. Government/ public investment can be made only out of tax revenues and public sector surpluses. Of these, tax revenues are under pressure. 2018-19 was a particularly dismal year; yet the government has set aggressive targets for tax revenues in 2019-20. Evidently, the CEA does not share the government’s optimism.
Rajiv Kumar emphasised that the focus of the second term of the Modi government is accelerated economic growth, beyond the 7 per cent the country has achieved to an eight per cent plus growth that is led by the private sector and private enterprise.
NITI Aayog member Ramesh Chand says time has come to free farm sector from controls, shift from input subsidies and procurement to income support and deficiency payments, and create an enabling environment for greater corporate investments in agriculture
In this edition of the Idea Exchange, Former Chief Economic Adviser Arvind Subramanian talks about demonitisation, defends GST, explains the reasons why growth has not been robust and reflects back on his tenure as Chief Economic Adviser of India.
Former governor of Reserve Bank of India Bimal Jalan talks about how he addressed the issues of transparency and accountability in financial transactions and governance in his new book, India Ahead: 2025 and Beyond.
New Delhi, Feb 12 (ANI): As the Bombay Stock Exchange (BSE) Sensex plunged around 800 point on Thursday, Finance Minister Arun Jaitley on Friday came out to calm the investors, saying that there was no need for an 'exaggerated panic' among investors. Jaitley emphasised that the investors should keep in mind the inherent strength of the Indian economy while investing. He added that the Government is fully committed to empower and support public sector banks by providing whatever capital requirements is required, adding that the problem of recovering bad loans from the borrowers will soon be ended.