Manmohan Singh’s far reaching reforms that made India a fastest growing economy
India has lost a towering figure in the Indian economic landscape, former Prime Minister of India, Dr Manmohan Singh.
India has lost a towering figure in the Indian economic landscape, former Prime Minister of India, Dr Manmohan Singh.
The global economy remained resilient in the first half of 2024, with declining inflation supporting household spending, it said in its October Bulletin.
Reserve Bank of India (RBI) Governor Shaktikanta Das at the Monetary Policy Committee (MPC) meeting on Friday announced the policy rate unchanged at 6.5 per cent.
“The path-breaking structural reforms, such as the enactment of the Insolvency and Bankruptcy Code (IBC) and the adoption of Flexible Inflation Targeting in the recent years, have helped us to deal with the challenges in the banking system and the task of maintaining price stability more effectively,” he said.
In the throes of economic dynamism, India finds itself at the intersection of contrasting forces, with its annual retail inflation surging to a four-month high in December.
RBI came to the conclusion that the bank had failed to comply with the licencing guidelines and decided to impose the penalty.
The state governments had loans worth Rs 5,179 crore from the RBI in the week ended October 11, compared with Rs 7,886 crore in the previous week.
The assets listed in the letter include ultra-luxury cars such as a Rolls Royce Phantom, Bentley Continental, a BMW 730 LD, as well as a humble Ambassador, owned by Rakesh Wadhawan.
Essentially, it is the routine disclosure breach that is most corrosive, indicating collusion, misleading of regulators, inflation of revenues and suppression of delinquency.
'What makes India strong is its diversity, debate and tolerance. What makes it weak is narrow-mindedness, obscurantism and divisiveness,' said former RBI governor Rajan