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GDP overestimated, growth during 2012-17 at 4.5%: ex-CEA

The growth numbers have come back to haunt the government with former Chief Economic Advisor (CEA) Arvind Subramanian also questioning the change in GDP calculation methods and numbers effected last year. In his recent research paper published by Harvard University, the former CEA has said there is a possibility of substantial overestimation in the growth

RBI Subramanian

RBI reserve should be used to fix financial system: Subramanian

The Reserve Bank is adequately capitalised, but the money should be used for fixing the financial system, not for financial deficit or financing government expenditure, Former Chief Economic Advisor Arvind Subramanian has said. The economic principles, moreover, say savings should not be used for current consumption, but for long-term investment, he said Thursday “If the reserve is used for deficit financing that would amount to raiding RBI and

Biggest challenge is to clean up balance sheets of PSBs: Raghuram Rajan

Biggest challenge is to clean up balance sheets of PSBs: Raghuram Rajan

Biggest challenge is to clean up balance sheets of PSBs: Raghuram Rajan. Former RBI Governor Raghuram Rajan today said the biggest challenge is cleaning up the balance sheets of public sector banks. “RBI (during his tenure) issued lot of things to increase competition in the banking sector which include giving 23 bank licenses.There were new