Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a “growth recession” with signs of deep malaise in the Indian economy that is being run through extreme centralisation of power in Prime Minister’s Office and powerless ministers.Penning down his recommendations to help the ailing Indian economy out of the ongoing slowdown in the India Today magazine, he called for reforms to liberalise capital, land and labour markets, and spur investment as well as growth.He also urged India to join free trade agreements judiciously in order to boost competition and improve domestic efficiency.“To understand what has gone wrong, we need to start first with the centralised nature of the current government. Not just decision-making but also ideas and plans emanate from a small set of personalities around the Prime Minister and in the Prime Minister’s Office (PMO).“That works well for the … [Read more...] about Starting point to address slowdown would be to acknowledge it: Raghuram Rajan
Winter session starts today
MUMBAI: The Kala Nagar Cooperative Housing Society plans to felicitate Uddhav Thackeray for being sworn in as chief minister. Matoshree, the Thackeray abode for over five decades, is located in the iconic artist colony in Bandra (E). Thackeray's MLA son, Aaditya too will be toasted by the Kala Nagar residents at an exclusive dinner. "Uddhavji has brought laurels to Kala Nagar. We thought we should felicitate him as a token of our affection," said Arun Naik, president of the housing society, who is also a theatre critic and translator. "When I was in college, Balasaheb would often call out to me from his bungalow and we would play cricket on a small patch of ground behind the colony. Only he and me. Dressed in kurta-pyjama, Balasaheb would not take the pipe off his mouth while swinging his bat, not even once," reminisced Naik. Abhay Tamhane, the society secretary, will soon meet the CM to decide the final date for the event. "We are trying to host the felicitation dinner in December … [Read more...] about Kala Nagar society to felicitate its favourite family, plans dinner date with new Maharashtra Uddhav Thackeray
Bengaluru: Price of onion shot up to a whopping Rs 200 per kg in Bengaluru due to severe short supply in the market, an official said here on Saturday. "Onion price touched Rs 200 per kg in some retail shops of Bengaluru, after its wholesale rate ranged between Rs 5,500 and Rs 14,000 per quintal," state agricultural marketing officer Siddagangaiah told IANS. As a result, the most common and staple vegetable was conspicuously missing from the menu in homes and restaurants across this tech hub. According to Siddagangaiah, skyrocketing onion prices and the bulb's shortage is expected to last until mid-January. India has an annual onion requirement of 150 lakh metric tonnes, with Karnataka chipping in with onion production of 20.19 lakh metric tonnes. Almost 50 per cent of the onion production gets lost after factoring in crop loss and post-harvest loss, leaving only the balance to arrive in the market. Heavy rains during the harvest also led to the rotting of a good share of the onion … [Read more...] about Onion price zooms to Rs 200 a kg, will it ease in Jan?
Video PlayerClose BEIJING, April 21 (Xinhua) -- Air quality in China continued to improve with reduced pollution, the country's top environment official said Sunday. In 338 Chinese cities, 121 met the air quality standards in 2018, said Li Ganjie, the country's Ecology and Environment Minister, in a report submitted to China's top legislature for review at its ongoing bimonthly session. According to Li, air quality significantly improved in key regions, although heavy pollution still took place during autumn and winter. The average density of PM2.5, a key indicator of air pollution, dropped 11.8 percent year on year in 2018 in the Beijing-Tianjin-Hebei region and its surrounding area. The 338 cities on average saw more days of good air, Li said. … [Read more...] about China reports improved air quality in 2018: minister
Next Uruguay striker Luis Suarez is to have surgery on his knee on Thursday morning, just over three weeks before the start of the World Cup, according to local media reports.Suarez helped Uruguay to fourth place at the last World Cup in South Africa four years ago and was expected to play a key role in the country's campaign at the June 12-July 13 tournament in Brazil.According to a report on the website of Uruguayan TV station Tenfield, the 27-year-old Liverpool striker had an MRI scan on Wednesday which revealed damage to the meniscus in the knee with the team doctor deciding surgery was necessary.Recovery from such arthroscopic surgery takes from 15 to 20 days, according to the report, leaving Suarez little room for manoeuvre before Uruguay play their first match against Costa Rica in Fortaleza on June 14.Uruguay also face England and Italy in opening round Group D.- Please click NEXT for more... Image: Liverpool's Luis Suarez winces in pain after … [Read more...] about World Cup chit-chat: Uruguay’s Suarez to undergo knee surgery, may miss WC opener