BENGALURU: The 16th Finance Commission on Thursday said that it is open to considering the Karnataka government’s suggestion on rejudging the criterion with regard to devolution of taxes to the states, but the final decision is “far away”. Commission chairman Dr Arvind Panagariya said Karnataka has submitted a proposal stating that the 45% weightage given to the distance of per …
The Central government has appointed noted economist and well-known advocate of free markets, Arvind Panagariya, as the chairman of the 16th Finance Commission. While it is important to ensure that each citizen gets financial support from the Central government, another argument is that any further increase would serve as a disincentive to state governments in taking sound financial decisions. Currently, …
The RBI's decision to withdraw ₹2,000 currency notes from circulation will not have any 'perceptible effect' on the economy as any such notes returned will be replaced by either equivalent cash in lower denomination notes or a deposit, former NITI Aayog Vice Chairman Arvind Panagariya has said. Any currency in ₹2,000 notes returned will be replaced by either equivalent cash …
Eminent economist Arvind Panagariya has said India is on the cusp of returning to a high growth trajectory and voiced confidence that the country will become the world’s third-largest economy by 2027-28. A day before Finance Minister Nirmala Sitharaman presented the Union Budget on Wednesday, the Economic Survey tabled in Parliament pegged India’s GDP growth at 6.5 per cent in …
After Congress President Rahul Gandhi proposed his new freebie scheme Nyuntam Aay Yojana, economists around the world have expressed their skepticism over the fiscal prudence of the scheme. Arvind Panagariya, a noted Economist and former Vice-Chairman of NITI Aayog, has viewed that the promise of the Congress party to implement a minimum income guarantee scheme would be “almost impossible”. Panagariya …
Arvind Panagariya said the scheme is difficult to implement and unlikely to achieve its intended objective New Delhi: Former NITI Aayog vice chairman Arvind Panagariya has said the implementation of the Congress Party’s ambitious Nyay scheme not only poses a “fiscal challenge” to India’s economy but also has a “serious incentive problem”. Congress President Rahul Gandhi on 26 March said …