Noted economist and former Planning Commission member Saumitra Chaudhuri passed away today early morning.
Watch the interview of Saumitra Chaudhuri, Former Member, Planning Commission with Shereen Bhan on CNBC-TV18, in which he shared his readings and outlook on India's economic future and the mid-year economic review.
The coal production grew at 0.4 percent versus 0.3 percent in July. The crude oil production grew at 5.6 percent versus a decline of 0.4 percent month on month (M-o-M). Natural gas production grew at 3.7percent versus a decline of 4.4 percent M-o-M.
I am in the camp that believes the near-term problem for India was macro-economic; it was the current account deficit, it was the fiscal deficit, it was inflation, that has been handled in the near-term, said Atsi Sheth of Moody's Investors Service.
Saumitra Chaudhuri, former member, Planning Commission says the survey clearly shows an upward trajectory and adherence to medium-term fiscal deficit target.
Saumitra Chaudhuri, former member, Planning Commission says manufacturing can become an engine of growth if policies are implemented effectively.
Saumitra Chaudhuri, Member, Planning Commission says India should continue with curbs on gold imports for some more time.
Even if we take modest estimate on a 12 month basis, the CAD maybe moderating to a point where it will be eminently financeable, says Saumitra Chaudhuri, Planning Commission.
Raghuram Govind Rajan, the country's chief economic advisor to the Finance Ministry, will take up the mantle of governorship in the Reserve Bank of India (RBI) from September 5. The present incumbent - D Subbarao will demit his office on September 4, this year.
A panel of experts concur , in a discussion on CNBC-TV18, that the outcomes resulting from government initiatives are key to the RBI's withdrawal of measures to reduce liquidity. The experts add that this now puts the ball firmly in the government's court.
At last inflation appears to be easing. The October reading at 7.45 percent was below than that of September by almost half a percentage point. Also the core inflation and food inflation both appeared to be easing.
Saumitra Chaudhuri of Planning Commission feels there is some room for monetary easing in India at this point. He feels, there is a need for more action from the government for fiscal correction and expects current account to be under pressure in Q3 as well.
In an interview to CNBC-TV18 Saumitra Chaudhuri, member, Planning Commission said, the Q1FY13 GDP data was inline with expectations, so the first quarter GDP data need not be altered.
Led by rising prices of vegetables and petrol, inflation moved up to 7.55% in May from 7.23% in the previous month. Citing reading on May inflation number, Saumitra Chaudhuri, member, Planning Commission said: "Inflation is rather stubborn at an embarrassingly or inconveniently high level, but is not increasing."
Saumitra Chaudhuri, member, Prime Minister's Economic Advisory Council (PMEAC) speaks to CNBC-TV18 about the initiatives to tackle inflation with the states‘ help being listed in a report that will be submitted on May 22
In an interview to CNBC-TV18, Saumitra Chaudhuri, member, Prime Minister’s Advisory Council sees the manufacturing sector which has been beaten out of shape, improving next year.
Saumitra Chaudhuri, Member of the PMEAC says that action is required from the expenditure side too and not just revenue-side for fiscal consolidation.
The RBI’s policy after today's credit review appears that it is moving away from a regime of tightening to a regime of easing, says planning commission member, Saumitra Chaudhuri.
Planning Commission member Saumitra Chaudhuri says the new urea investment policy will allow investment of six million tonne in urea.
The Committee of Secretaries has been working on a new draft for urea investment policy. Saumitra Chaudhuri, member of the Planning Commission indicated that they have been discussing many alternatives for the new urea investment policy currently and it will be rolled out over next four-five years.
With food inflation rising to 11.43% and headline inflation at 9.73%, the situation is very worrying for India. But does the government have a well thought out strategy for tackling it or is it simply floundering for an answer?
What will be the impact of the action taken already and what is the RBI trying to tell us about the way ahead? Experts delineate RBI’s words as well as the road ahead for the economy.
The Finance Ministry has announced the broad contours of the new drawback scheme that will come into effect from October 1, 2011. In an interview to CNBC-TV18, Saumitra Chaudhuri, author of The Drawback Rates Report said, new drawback rates could be worked out next year.
Planning Commission Member Saumitra Chaudhuri says that even though meeting the fiscal number will be tough, the finance minister has weighed the pros and cons and will meet the target. “Taxes and expenditure are two things we need to focus on.”
The GoM today approved decontrol of urea prices, a move that marks a significant move as far as pending reforms is concerned, reports CNBC-TV18's Rituparna Bhuyan.