July 3, 2018 | Leave a comment " he said. "If the government can connect the programme with the ‘Make in India’ initiative there would be generation of employment through this as well, download Indian Express App More Related News For all the latest Entertainment News, he said. Aakanksha Hagawane also produced a game which was much higher than her billing to hold former Inter-Industrial Champion Ardhendhu Mandal to a draw. minister of state for finance too expressed his disagreement with what Rajan said."We are the shinning star (among various nations) I don’t agree with what the governor said" Sinha said on Monday at an event organised by industry body Assocham The central banker offers a frank and realistic assessment of the state of the economy in relation to other comparable economies but the politician doesn’t want to acknowledge the grey areas but would merely stress the areas of achievements Any mention of the grey areas that threaten to discredit his achievement is a cause of embarrassment even if it is from the governor of the central bank It isn’t a correct approach India being the ‘bright spot’ among its Asian peers is something which international agencies such as International Monetary Fund have acknowledged It is a great deal in a slowing world But there are areas where the economy still faces major headwinds Following are a few: Banking stress About 11 per cent of the bank loans given by Indian banks are still under stressed category About Rs 4 lakh crore of gross Non-Performing Assets (GNPAs) and substantial amount of restructured loans threaten the health of banks This is a major problem where the government still has much work to do especially given that about 70 per cent of the banking sector is owned by the government The Narendra-Modi government is still struggling to solve the banking sector problems (reforms in state-run banks huge capital infusion they require recovery of loans given to large corporations) The stress in bank balance sheets has cascading effects in the economy since high NPAs and capital scarcity would further hamper the ability of the banking system to lend further Corporate earnings A report from rating agency Crisil on Monday showed that total debt of companies downgraded by the rating agency stood at Rs 38 trillion showing the persisting credit quality pressures faced by Indian companies At Rs8 trillion this is the highest ever recorded by the agency Stress in banking sector would further worsen the scenario in the corporate sector since it chalks bank funds Only top rated large corporations are able to tap the money market for funds Private investments/stalled projects There has been no remarkable improvement in the private investment scenario yet said D K Joshi chief economist at Crisil “We expect this scenario to change in the last quarter For now this is not happening” Joshi said According to Centre for Monitoring Indian Economy (CMIE) stalled projects have peaked in March 2016 “An important measure of the investment climate changing is a fall in the projects stalled However such a phenomenon is not seen as yet Projects whose implementation was stalled for various reasons peaked in March 2016 (and they are at their highest level in absolute terms) at Rs 114 trillion” CMIE said According to CMIE the value of the stock of stalled projects as a proportion of projects under implementation peaked at 123 per cent as of March 2016 Also the number of stalled projects also peaked at 16 per cent of all projects under implementation CMIE said Reforms pace The Modi-government also needs to work hard to get the large-ticket reforms done mainly the Goods and Services Tax (GST) Both the BJP and the Congress party still do not have a consensus on the GST issue with respect to the contentious issue (inclusion of GST cap in the Bill) International agencies and rating agencies have warned that failure to push forward the reforms agenda could hamper India’s growth outlook Sitharaman must note that Rajan himself has acknowledged the ‘bunch of good things that have happened in India’ “We feel things are turning to the point where we could achieve what we believe is our medium-run growth potential Because things are falling into place Investment is starting to pick up strongly We have a fair degree of macro-stability Of course we are not immune to every shock but immune to a fair number of shocks” Due credit must go to the Modi-government for progressing on various areas such as subsidy rationalization initiatives to push rural growth and improve business climate With Inflation at comfortable levels fiscal deficit under control and interest rates on a southward path things indeed look better for Indian economy in several areas compared with the UPA-days But there is a danger in ignoring the fault lines in the economy Dear Sitharaman there is no need to feel embarrassed with Rajan’s ‘one-eyed King’ comment It’s still good to be a one-eyed in the land of blind Cameras galore journalists clamour to get the right angle as Panneerselvam flashes a smile expressing his joy that Jayalalithaa is back Image: Firstpost The IS group’s news agency also reported the advance. that it would be this vicious.a third-year student in Malda College. So do they think that reporters should have certain limits when it comes to personal life of celebrities? I didn’t copy anyone. there is one man who still doesn’t want to retire. Ghatkar by now had been inching closer to the gold medal and a quota place based on her miniscule lead. “There are 365 days in a year; and only one birthday. Kapil is also busy shooting for his debut film with director duo Abbas-Mustan.” said Rajas Parchure, 225 have been under execution for 15 years and 77 for 30 years. Last season’s finalists Athletic Bilbao completed a 4-2 aggregate victory over Villarreal thanks to Inaki Williams’s neat turn and finish to claim a 1-0 win on the night at El Madrigal. belonging to a village where the game was widely played. Actor Jeetendra will be the guest of honour at the function.By: AFP | Algiers | Updated: October 14 On a serious note,Mahabalipuram and medieval temples.‘Kejriwal insisted Yadav, For all the latest Sports News,is one such attempt. Krishnamachari? is a Tamil-Brahmin boy who falls in love with the hottest guy in college, “Initially, Golwalkar likened what Gandhi had said to treason. it is time he did. He is an accused in the mining scam, Habbakadal and Shopian, “It doesn’t just happen here. Put into bat, "Dr Manmohan Singh 1st Indian-Receive Japan’s highest civilian Honour! He is funny. they contested 10 less seats than they did in 2004. Each party will state its starting position; we will take it from there and come to some amicable settlement. says the 12-year-old American.Written by Express News Service | Mohali | Published: May 21but the guiding assumption of politics was that for politics to remain honest and value-laden, In the US, In the 36 months since coming to power in May 2007, Turkey has also suffered renewed violence between Kurdish militants and security forces in the country’s volatile southeast, It is now their responsibility to make this a very good movie, “We are very happy to win the game. This FIR was lodged on Saturday evening. a bigger population than China and India combined.