Rajan had already made his presence felt at RBI and on the financial
reforms front within those two years. He had made the monetary policy
sharply focused on consumer price inflation (CPI). His successor will need to decide which ones to follow through.
The aviation sector is abuzz with action. After clearing the national
civil aviation policy, the government has relaxed foreign direct
investment (FDI) norms, allowing 100 per cent FDI in scheduled domestic
While Indian diplomats were busy picking up the pieces after a China-led
consortium of member countries of the Nuclear Suppliers Group (NSG)
managed to close the door on India at the Seoul plenary meet, another
story was unfolding back home - the roll-out of Plan B.
On June 20, around 3 pm, a tweet from the Twitter handle of the Prime
Minister's Office (PMO) made a big claim - India has become the most
open economy in the world for foreign direct investment (FDI).
Today, the research centre in Gurgaon remains the last remnant, in terms
of a direct physical presence and arguably a positive highlight, of
around $10-billion (986.4 billion yen) Japanese pharma major's
misadventure in India.
In a massive clean-up effort, the stock market regulator, Securities and
Exchange Board of India (SEBI), is mulling the delisting of companies
that have remained suspended and not traded for seven or more years due
to various penal reasons.
Increasingly, this is a scenario being played out across the country. In
spite of the large number of financial institutions and banks present
across the country, access to financial services has been a huge
challenge for a majority of the population.
As a tax enthusiast, PM Narendra Modi must be elated that the Goods and Services Tax
(GST) is almost done. It was stuck for ages because Tamil Nadu did not
like it; none of Arun Jaitley's wiles or Amit Mitra's arguments made its
finance minister budge.
Outgoing Reserve Bank of India Governor Raghuram Rajan spoke to Business
Today Editor Prosenjit Datta and Deputy Editor Anand Adhikari on how he
was positioning the central bank as a knowledge institution to manage
the change in monetary policy framework, and banking and finance.
The very phrase "monetary policy" sounds technical and sleep-inducing,
but it is an extremely vital issue that impacts the lives of everyone,
particularly the poor, because of its immediate effect on inflation and the very structure of society due to its longer term impact on resource
A private equity fund managed by Goldman Sachs is in
advanced stages of negotiations to invest $200-250 million in Subhash
Chandra's road infrastructure company Essel Highways, according to a
report in a business news daily.
What a fortnight it has been. As we go to press, the United Kingdom has
voted in a referendum to exit the European Union. It was a remarkably
close vote, practically split down the middle. The markets around the
world are going crazy, and in India, the rupee and stock indices are