In a Twitter thread, Arvind Subramanian said that GDP per capita is only an estimate for one indicator of the average standard of living or welfare in a country.
The softened stance comes after the Centre agreed to borrow up to Rs 1.1 lakh crore to meet part of the GST compensation shortfall.
At ThePrint's OTC, the former RBI governor said if huge levels of debt and financial distress hold back the economy, it will be a lost decade for growth.
The West wants a meaningful counterweight to China, but that partnership will be predicated on India not getting stuck in a lower-middle-income trap.
Bain & Co., Google, & AWE Foundation surveyed almost 350 women entrepreneurs and found that 54% had already made business shifts & another 24% planned to change by December.
A flaw affecting a plug-in hybrid SUV in Europe will keep Ford from complying with tougher emissions standards this year. BMW and Hyundai are recalling tens of thousands of cars.
Govt will raise an extra Rs 1.1 trillion via sales of three- and five-year bonds. The announcement comes just a week after RBI managed to damp tension with bond traders.
The latest tender is aimed at getting better prices for supplies compared with those from the Middle East and to diversify sources of LPG.
Analysts and industry experts say the new rules would make it easier to sell crops, bring more stable income for farmers & increased production would boost exports and revenue.
Banking sector ripe for significant structural change, market share of India's private sector banks will rise to about 50% over next decade, says Asia's richest banker Uday Kotak.