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An ex-RBI Guv thinks $5-tn goal is 'simply out of question'

The former RBI governor said India needs a 9 percent per annum growth to reaching $5 trillion by 2025.

Finance secretary

Nov 22, 2019, 03.29 AM IST



Shipping ministry not opposed to SCI strategic divestment: Secretary

The Shipping Ministry in 2017 had opposed the proposal of the strategic divestment of SCI, but has now agreed to the proposal of the group of secretaries for dilution of stake in the SCI.

Private players to get more level-playing field: Union power secretary

Government is looking at regulation closely which will help innovation...

US treasury secretary to hold talks in India as pressure builds on Iran

US Treasury Secretary Steven Mnuchin will visit India as part of a to...

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  • While the terms of reference of the panel do not explicitly mention the SC ruling of October 24, it has been asked to look at suggestions for deferring of payments for spectrum as well as re-look at the obligation to fund a universal service fund.

    The additional Terms of Reference being worked out would likely seek a rollover of the current devolution pattern for one more year. The commission’s tenure was originally set to end in October but the President extended it to November 30 in July.

    "Sanjeev Nandan Sahai assumed charge as Secretary, Ministry of Power here today. Prior to this, he was serving as the Special Secretary in the Ministry of Power," the ministry said in a statement. Sahai, a UT cadre IAS officer of 1986 batch, has held several other important positions in the Union as well as state governments.

    In a report titled 'Untapped Potential: Supercharging Green Finance in India', City of London Corporation alongside the Federation of Indian Chambers of Commerce and Industry (FICCI) explores the opportunities and challenges for sustainable finance in India.

    S C Garg said the Rs 2,000 note, which the Modi govt brought, were being hoarded & should be demonetised.

    Agarawal, a 1984-batch IAS officer and the agriculture secretary since October last year, was the chairman of UPPCL as well as the UP Power Employees Trust from 2013 till May 2017. According to the initial investigation, Agarawal and four other officers signed on the decision to invest in the debt-ridden DHFL at a meeting held on March 22, 2017.

    According to the budget documents, the government's total expenditure is anticipated to grow at the rate 13.4 per cent, whereas the total non-debt receipts are projected to grow by 14.3 per cent. The government intends to gradually bring down fiscal deficit towards the target of 3 per cent of the GDP by March 31, 2021.

    Recently, the cabinet approved new process for strategic disinvestment making possible stakeholder consultation before inviting bids. So far, the process didn't allow for stakeholder consultation before the govt issued EOI.

    A team of the IMF met with top officials of Naveen Patnaik’s government recently to review the state’s Public Finance Management system. Under a tripartite agreement, the IMF's South Asia Training and Technical Assistance Center is helping state to move towards a multi—year budgeting system based on more real and forward looking fiscal projections.

    The meeting with secretaries to the ministries is scheduled for Friday, while heads of PSEs will meet her on Saturday, sources told ET.

    Garg said he “tried to be a true civil servant” and took all decisions in the larger public interest. “I was able to take and implement bold and sometimes unconventional decisions throughout my career, which might not have kept my bosses in good humour sometimes,” he said in the note that also outlined his future plans.

    The meeting comes against the backdrop of Finance Minister Nirmala Sitharaman announcing various measures to push economic growth.

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