Former RBI governor says India is now expected to remain the fastest-growing major economy; self-reliance gives India economic resilience and foreign policy autonomy.
On a panel at Kautilya Economic Conclave in Delhi, the ex-Solicitor General of India spoke on need for judicial reforms, noting need for economic growth 'to be true to Constitution'.
Modi govt has been handpicking ex-IAS officers to helm & anchor key policy & administration. This trend started in the first term of the govt but has become more prominent over 11 yrs.
RBI Governor Shaktikanta Das said that while slowing growth was a concern, the next quarters would look better. Inflation, though, is a more immediate concern & would ease only in Q4.
Shaktikanta Das said the central bank was not ‘behind the curve’ in terms of monetary policy & would base its decisions on incoming data and the outlook on inflation.
Heavy reliance on AI could lead to concentration risks, thereby amplifying systemic risks as failures or disruptions in these systems may cascade across financial sector, Shaktikanta Das said.
Change in stance signals possibility of rate cuts, potentially as early as December, depending on inflation trends & global economy. Growth projection for FY 2024-25 retained at 7.2%.
China, which harbours ambitions to control the Yarlung Tsangpo, as the Brahmaputra is known in Tibet, is moving ahead with its mega hydropower project at Motuo.
Exporters said the Budget’s proposals to increase duty-free import limits on processing, create 500 reservoirs and support fisheries startups will boost the marine industry.
With recruitments under Agnipath set to rise, the Union Budget has significantly increased spending, with the Army taking nearly 87% of the total outlay.
The key to fighting a war successfully, or even launching it, is a clear objective. That’s an entirely political call. It isn’t emotional or purely military.
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