Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
272
nda:
Needmore seats to Win
Needmore seats to Win
upa:
»
2-min read

Air India Divestment, GST Stabilisation, NPA Settlements Big Reforms; Rate Cut Unlikely, Hints CEA Arvind Subramanian

In a conversation with CNBC TV18's Shereen Bhan, Chief Economic Adviser (CEA) Arvind Subramanian said the government is not likely to come up with monetary easing in the recent future.

News18.com

Updated:January 31, 2018, 7:14 AM IST
facebookTwittergoogleskypewhatsapp
Air India Divestment, GST Stabilisation, NPA Settlements Big Reforms; Rate Cut Unlikely, Hints CEA Arvind Subramanian
File photo of Chief Economic Adviser Arvind Subramanian. (Reuters)
New Delhi: A day after Finance Minister Arun Jaitley tabled the Economic Survey in the Parliament, the architect of the survey Chief Economic Adviser (CEA), Arvind Subramanian, in a conversation with CNBC TV18's Shereen Bhan, said the government is not likely to come up with monetary easing in the recent future.

"Relative to the last 18 months we are close to the inflation target. Case for monetary easing is less persuasive; we are close to the inflation rate," said Subramanian.

The CEA while talking about major pain points for the economy on Monday said crude oil prices have hindered growth as it has contained consumption.

Harping on the same, he said, "I had certainly thought of $55-$60 as the crude price. Crude price rise has surprised me, surprised the markets. Medium term oil price could be $60-$65, depends on the Aramco listing. Monetary policy will have to take this into account."

Crude oil prices have rallied to $70 recently.

Eight states are going to have elections this year. Commentators have alleged that government policies will be biased towards appeasing voters.

"Election year does not mean fiscal populism. I would argue for an ambitious fiscal consolidation on economic grounds. I think there's a middle ground on fiscal consolidation: yes consolidation but how much is the question. This government believes in fiscal consolidation for its own sake, not for rating agencies," said Subramanian.

Providing a guideline to the government, Subramanian said, "One very strong message I have for the coming year is there's a full policy agenda and we don’t need anything big."

"Air India divestment, GST stabilisation, NPA settlements is a very ambitious agenda," he added.

India has seen rampant farmer agitation in the country all through last year that was visible during the closely contested Gujarat elections as well.

"How do we protect the farmer on the downside. It’s a medium term challenge to boost agri productivity growth. It's a surprise that only 46% of India is irrigated. Trick is to convert distortionary supports for cereal agriculture into a Universal Basic Income for agriculture," said Subramanian batting for universal basic income again.

Talking of the goods and services tax (GST) he said, "Electricity, Petroleum, Real Estate are on the GST agenda. That doesn't preclude us from rationalising GST rates. We have made big progress on shrinking the 28% GST rate; there's scope for more. We have been able to respond to the GST challenges, iron out the glitches."
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Bijaya Das
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
SBI 346.05 1.45
Reliance 1,343.05 0.20
IndusInd Bank 1,607.10 5.81
HDFC Bank 2,342.25 -2.64
ICICI Bank 414.00 2.13
Company Price Change %Gain
Larsen 1,485.05 1.68
Reliance 1,342.80 0.16
SBI 348.85 2.35
Yes Bank 140.40 1.96
Adani Enterpris 163.90 3.77
Top Gainers
Company Price Change %Gain
Adani Ports 410.40 6.34
IndusInd Bank 1,574.45 3.66
Zee Entertain 360.50 5.35
Grasim 895.45 4.44
ICICI Bank 414.90 2.36
Company Price Change %Gain
IndusInd Bank 1,604.00 5.70
ICICI Bank 414.40 2.19
Yes Bank 140.40 1.96
Hero Motocorp 2,754.35 2.06
Larsen 1,490.25 2.03
Top Losers
Company Price Change %Gain
Vedanta 162.05 -2.56
ITC 289.75 -3.34
Eicher Motors 20,673.00 -2.60
HDFC Bank 2,342.25 -2.64
Hindalco 193.30 -2.37
Company Price Change %Gain
Vedanta 158.85 -4.57
ITC 289.65 -3.30
HDFC Bank 2,340.15 -2.70
Tata Motors 176.15 -1.84
TCS 2,055.00 -1.33

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results