Whose advice should Finance Minister Nirmala Sitharaman follow - RBI or Chief Economic Advisor?
The RBI working paper co-authored by RBI Deputy Governor Michael Debabrata Patra, who is also a member of the six-member monetary policy committee has recommended that maintaining the inflation target at 4 per cent is appropriate for the country
Anand Adhikari | February 19, 2021 | Updated 20:05 IST
Finance Minister Nirmala Sitharaman
In a span of just a month, there are two reports on inflation band and the composition which offers indirect advice to the government in reviewing the monetary policy committee (MPC) framework, which is due in March next month.
Updated Feb 18, 2021 | 18:09 IST
Economic Affairs Secretary Tarun Bajaj has formally written to the central bank seeking its views. The RBI is expected to reply by the end of February. Finance Minister Nirmala Sitharaman | Photo Credit: IANS
New Delhi: The Finance Minister will soon review the inflation targeting framework with top finance ministry and RBI officials as a five-year term of the existing 2%-6% monetary policy framework draws to a close, a government source told
ET Now.
“The government will formalize view on inflation targeting framework before March 31,” the source added.
The government, in 2016, amended the RBI Act to provide a legal basis for the implementation of the flexible inflation targeting framework. This helps the six-member MPC, chaired by RBI in setting interest rates.
"You spend on infrastructure, you create a capital asset, whose effect will be on the economy for the next couple of decades. It gives you instant jobs. It triggers demand for core industry products and, therefore, moves to trigger the virtuous cycle. So, I went on this route" said Sitharaman
Who takes Mudra loans, damaads? Sitharaman s dig at opposition over crony capitalism remark
Top Searches Who takes Mudra loans, damaads? Sitharaman s dig at opposition over crony capitalism remark
TIMESOFINDIA.COM / Updated: Feb 12, 2021, 15:55 IST
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Union finance minister Nirmala Sitharaman while speaking in the Rajya Sabha. (Photo: RSTV/ANI)
NEW DELHI: Union finance minister Nirmala Sitharaman on Friday took a swipe at the opposition for accusing the government of crony capitalism.
Speaking in Rajya Sabha on Union Budget 2021-22, Sitharaman asked, Loans sanctioned under Mudra Yojana stood at more than Rs 27,000 crore. Who takes Mudra Yojana? Damaads (son-in-laws)?
The finance minister further noted that the number of digital transactions via United Payment Interface (UPI) from August 2017 till January 2020 was over 3.6 lakh crore.
Updated Feb 12, 2021 | 15:26 IST
Nirmala Sitharaman also stressed that a false narrative is being created by the Opposition against the government that it works for crony capitalists . Union Finance Minister Nirmala Sitharaman | Photo Credit: ANI
Key Highlights
Loans sanctioned under Mudra Yojana - more than Rs 27,000 crores. Who takes Mudra Yojana? Damaads?: Nirmala Sitharaman
Damaad is a specialised name in the Indian National Congress: Sitharaman
New Delhi: In a blistering attack at the Opposition, particularly Congress, Union Finance Minister Nirmala Sitharaman on Friday said the Modi government is working for the poor and the middle class, not for some