New Delhi: India will see another "harsh" year in terms of economic growth in 2013 as the European situation "will remain very difficult up to end of 2014", World Bank Chief Economist Kaushik Basu on Friday said. "Next year will also be very harsh (for India)...the European situation will remain very difficult up to end of 2014 and may be to the beginning of 2015.
"And Europe is a very major player, so that is going to rub off on India. The growth scenario will be difficult," Basu said on the sidelines of Delhi Economic Conclave in New Delhi.
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03:53 AM, Dec 15, 2012
New York: The World Bank on Wednesday appointed Kaushik Basu as its Chief Economist and Senior Vice President. Basu (60) will begin his term on October 1, World Bank Group President Jim Yong Kim said in a statement. Basu, who replaces Justin Yifu Lin, was Chief Economic Adviser in India's Finance Ministry till July. "Having worked in the Ministry of Finance, in addition to his impressive academic achievements, Kaushik is...
10:14 PM, Sep 05, 2012
New Delhi: FDI in retail may be a reality by August 15 as the government is working towards building a consensus on the issue. An indication to this effect came on a day when Tata group Chairman Ratan Tata called for an urgent need to push reforms and the Prime Minister's Office (PMO) ordered simpler security clearance for projects and set up a Project Clearance Board under the Cabinet Secretary....
04:44 PM, Jul 19, 2012
Barasat: West Bengal Chief Minister Mamata Banerjee on Saturday asserted she remained firmly opposed to allowing FDI in multi-brand retail. Earlier in the day, Chief Economic Advisor Kaushik Basu had said in Kolkata that Banerjee would realise the reform will be a win-win situation if properly explained to her. "Mamata Banerjee is intelligent, but retail FDI argument is very complex. If it is explained to her, then she will understand...
03:30 AM, Jul 08, 2012
Barasat: West Bengal Chief Minister Mamata Banerjee on Saturday asserted she remained firmly opposed to allowing foreign direct investment (FDI) in multi-brand retail. Earlier on Saturday, Chief Economic Advisor Kaushik Basu had said in Kolkata that Banerjee would realise the reform would be a win-win situation if properly explained to her. "Mamata Banerjee is intelligent, but retail FDI argument is very complex. If it is explained to her, then she...
06:25 PM, Jul 07, 2012
Chennai: Common man will have to live with high prices for another two-three months as inflation is expected to come down only by September, Chief Economic Adviser Kaushik Basu said on Tuesday. As per expectations and calculations of the Finance Ministry, inflation will go below 7 per cent from September, Basu said at a seminar. "So, you have to live with this high inflation for another two-three months and it...
07:10 PM, Jul 03, 2012
Chennai: Inflation would continue to hover around 7.5 per cent for another two to three months but is expected to soften from mid-October, Chief Economic Adviser Kaushik Basu said today. "My expectation on inflation as per wholesale price index is, for another two-three months, it will be the way it is (now)... around 7.5 per cent...," Basu told in a seminar in Chennai. Noting that India's inflation record was "much,...
01:43 PM, Jul 03, 2012
New Delhi: Amid the Prime Minister's Office seeking clarifications from the Finance Ministry on tax matters, including retrospective amendments, Chief Economic Advisor Kaushik Basu on Friday said there has been no dilution in any of the recent policy decisions. "I don't think that any policy step (of recent months) has been diluted," he told reporters at a function here. "The message we were giving actually for last couple of months,...
02:05 PM, Jun 29, 2012
New Delhi: Chief Economic Advisor Kaushik Basu wants Prime Minister Manmohan Singh to take charge of the Finance Ministry after Pranab Mukherjee moves to Rashtrapati Bhawan saying that he is an extremely capable person. "Prime Minister is a very trained economist... He was there in the 1991 reforms ... (although) it is a political decision... who come and goes... but one thing is for sure that he is extremely capable,"...
01:03 AM, Jun 22, 2012
Watch today's top stories with CNN-IBN's Editor-in-Chief Rajdeep Sardesai. ...
11:46 PM, Jun 20, 2012
The government has six months to bring the economy back on track, claims Chief Economic Advisor Kaushik Basu. ...
10:30 PM, Jun 20, 2012
New Delhi: With economic concerns increasing, time is running out for the UPA claimed the government's Chief Economic Advisor Kaushik Basu. Speaking to Rajdeep Sardesai, Basu said that two reforms are the need of the hour - FDI in retail and partial deregulation of diesel prices. Pitching for decontrol of diesel prices, Basu suggested the government can start the process through a "gentle" rise in rates before leaving it open...
07:31 AM, Jun 20, 2012
The prospect of facing the next Lok Sabha elections with a limp economy and furious voters might force the government's pace on reforms. Time is ...
06:19 PM, Jun 19, 2012
New Delhi: Lauding Finance Minister Pranab Mukherjee for his erudition and ability to concentrate on work at hand, among other qualities, Chief Economic Advisor Kaushik Basu on Friday said he would be a "wonderful" President. "He (Mukherjee) is a person of great erudition... knowledge and for a President (that) is exactly what you need. He is just wonderful at that," Basu said on the sidelines of an event organised by...
01:24 AM, Jun 16, 2012
New Delhi: Lauding Finance Minister Pranab Mukherjee for his erudition and ability to concentrate on work at hand, among other qualities, Chief Economic Advisor Kaushik Basu on Friday said he would be a "wonderful" President. "He (Mukherjee) is a person of great erudition... knowledge and for a President (that) is exactly what you need. He is just wonderful at that," Basu told reporters. He further said it is with amazing...
09:48 PM, Jun 15, 2012
Mumbai: Chief economic advisor Kaushik Basu has warned that if the Eurozone breaks up finally, it will be more disastrous than the 2008 global financial crisis triggered by the fall of the Wall Street banks, from which the global economy is yet to recover. "If Europe does slip into a crisis, it is going to be a very difficult time. There is no escaping from that. Though we (government and...
11:26 AM, Jun 10, 2012
Mumbai: Days ahead of credit policy review by the Reserve Bank, Chief Economic Adviser Kaushik Basu on Friday said "out-of-the-box" thinking is needed in the monetary policy and favoured slashing interest rates to boost sagging economic growth. "What we need to do is to create more space for the private sector to invest. But my personal feeling is that given that growth in doing so poorly, and the investment mood...
03:31 AM, Jun 09, 2012
Amid raging protests by parties cutting across the political spectrum for a partial rollback on the petrol price hike, Chief Economic Advisor Kaushik Basu has said that a rollback of any kind will hurt India's fiscal deficit target badly, leading to price increase in general. In an interview with Karan Thapar on 'Devil's Advocate', the Chief Economic Advisor said that oil price regulations had to be made in such a...
08:10 PM, May 26, 2012
Chief Economic Advisor Kaushik Basu has said that a partial rollback in petrol prices will hit India's fiscal deficit target adversely. ...
10:28 PM, May 25, 2012
Amid speculation that a partial rollback of petrol prices is likely due to political pressure, Chief Economic Advisor Kaushik Basu has said that a rollback of any kind will adversely affect the fiscal deficit target leading to price increase in general. In an interview with Karan Thapar on 'Devil's Advocate', the Chief Economic Advisor said that oil price regulations had to be made in such a way, that in the...
04:28 PM, May 25, 2012
