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(Photo Source : flickr.com) <ul><li>The Indian government is said to be considering <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword> lead economist <keyword id="172342" type="PERSON" weightage="20" keywordseo="Poonam-Gupta">Poonam Gupta</keyword> for the role of Chief Economic Advisor (CEA). </li><li>The position became vacant after <keyword id="6355547" type="PERSON" weightage="20" keywordseo="arvind-subramanian">Arvind Subramanian</keyword> left the role months before his term was to expire . </li><li>A government search committee is said to be looking at other candidates as well. </li></ul> The Indian government is said to be considering World Bank Lead Economist Poonam Gupta to fill the role of Chief Economic Advisor (CEA), Economic Times reported. If confirmed, Gupta would become the first woman to hold the position. Prior to joining World Bank in 2013, Gupta was <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank Of India</keyword> Chair Professor at National Institute of Public Finance and Policy. The government’s search committee is also said to be considering other names including Sajjid Chinoy, chief India economist at JPMorgan, and Krishnamurthy Subramanian, a professor at the Indian School of Business. India is seeking to fill the position after the abrupt resignation of Arvind Subramanian who left several months before his tenure as the government’s Chief Economic Advisor was to expire. Subramanian reportedly left because of “<a href="https://www.facebook.com/notes/arun-jaitley/thank-you-arvind/804077679780782/">pressing family commitments</a>.” He had been appointed as the CEA to the India’s finance ministry in October 2014. Even though there are only six months remaining for the upcoming general elections, the Indian government has been looking for a ‘fresh face’ to seek expert advice amid global turmoil, according to the report. The Finance Ministry <a href="https://economictimes.indiatimes.com/news/economy/policy/government-likely-to-appoint-new-chief-economic-advisor-in-next-1-2-months/articleshow/66281908.cms">appointed</a> a search committee in October headed by former Reserve <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> governor <keyword id="90390" type="PERSON" weightage="20" keywordseo="Bimal-Jalan">Bimal Jalan</keyword>, who has been asked to shortlist suitable candidates.

India could soon have its first woman Chief Economic Advisor: Report

The <keyword id="19948184" type="General" weightage="20" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> could grow more than 7 per cent during the current fiscal amid a benign global outlook and expected above-normal monsoon, economic think tank <keyword id="19959741" type="General" weightage="20" keywordseo="NCAER" source="keywords" meta.keywordsubtype="org" meta.entityname="NCAER" meta.hostid="83" meta.entityid="NCAER">NCAER</keyword> has said. In its April 2024 issue of Monthly Economic Review (MER), NCAER said a range of high-frequency indicators reveal the resilience of the domestic economy with the Purchasing Managers' Index (PMI) for manufacturing at a 16-year high and UPI, the leading digital payments system, touching the highest volume since its inception in 2016. "Projected acceleration in both global growth and trade volumes, as well as a forecast of an above-normal monsoon, indicate that the Indian economy can again attain growth rates higher than 7 per cent during the current fiscal year," said NCAER Director General Poonam Gupta. According to NCAER, Goods and Services Tax (GST) collections reached Rs 1.8 lakh crore in March, the second best since its rollout in 2017, while UPI recorded 13.4 billion transactions (in volume) in March 2024, the highest since its introduction, registering a growth of 55.3 per cent on a year-on-year basis. "These high-frequency indicators, coupled with a more benign global outlook projected by the IMF and WTO bode well for the Indian economy during the current year," Gupta added. According to the report, Consumer Price Index (CPI) headline inflation was down to 4.9 per cent in March from 5.1 per cent in February, while core inflation came down to 3.2 per cent during the same period. The report said employment indicators again showed mixed trends, with an increase in the number of net new subscribers under the Employees' Provident Fund Organisation (EPFO) on a year-on-year basis. However, the overall online hiring activities, as per the Naukri JobSpeak Index, moderated year-on-year, it added. While the Asian Development Bank (ADB) and Fitch Ratings have estimated India's growth at 7 per cent, the International Monetary Fund (IMF), S&amp;P Global Ratings and Morgan Stanley projected a 6.8 per cent growth rate for FY25. The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 6.5 per cent. The Reserve Bank of India (RBI) kept projections for India's real Gross Domestic Product (<keyword id="35050" type="General" weightage="20" keywordseo="gdp" source="Orion">GDP</keyword>) growth for FY2024-25 at 7 per cent and Consumer Price Index (CPI) headline inflation at 4.5 per cent, in line with their previous projections. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank">Mahindra XUV 3XO compact SUV launched in India starting at ₹7.49 lakh</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-may-2024/slidelist/109682003.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-may-2024/slidelist/109682003.cms" target="_blank">Upcoming smartphones launching in India in May 2024</a>

Indian economy likely to grow over 7% in 2024-25: Economic think tank NCAER

Filmmaker Sooraj <keyword id="40286" type="General" weightage="100" keywordseo="barjatya" source="Orion">Barjatya</keyword> says he is set to venture into digital space soon with at least three web series under development at his family banner Rajshri Productions. These projects will focus on family-friendly entertainment, a genre championed by the production house through films such as "Nadiya Ke Paar" (1982), "Saaransh" (1984), Salman Khan-starrers "Hum Aapke Hain Kaun" (1994) and "Hum Saath Saath Hain" (1999). Barjatya said he was inundated with many offers from leading streamers during the coronavirus pandemic to explore the digital medium. "We have been offered to make Rajshri kind of stories by all platforms. After the pandemic, families have come together. I am surprised and happy. We are in the process of starting three-four series soon." "It is in our space (family entertainers). Some are in the scripting stage, others are in the ideation stage. We will look at all of this post the release of 'Unnchai'," the 58-year-old director told PTI in an interview here. Back in 2017, Barjatya had said the production house was toying with the idea of making content for the web. Rajshri has already produced many successful TV shows like "<keyword id="11857" type="General" weightage="50" keywordseo="woh-rehne-waali-mehlon-ki" source="Orion">Woh Rehne Waali Mehlon Ki</keyword>" and "Pyaar Ka Dard Hai Meetha Meetha Pyaara Pyaara". Currently, the filmmaker is looking forward to the release of his upcoming feature "Unnchai", a drama about four friends, played by Amitabh Bachchan, Anupam Kher, Boman Irani and Danny Denzongpa. Parineeti Chopra, Neena Gupta, and Sarika also round out the cast of the film, slated to be released on November 11. Post "Unnchai", Barjatya said he will focus on a string of projects, including a web series, a movie with his frequent collaborator and friend <keyword id="6354583" type="General" weightage="50" keywordseo="salman-khan" source="Orion">Salman Khan</keyword>, and his son Avnish Barjatya's directorial debut. With Avnish's movie, the filmmaker will launch actor-MP Sunny Deol's younger son Rajveer and actor Poonam Dhillon's daughter Paloma. "After 'Unnchai', I will get busy with my younger son Avnish's movie, starring Rajveer and Paloma. As a producer, it is a big responsibility. After that, I will start my film with Salman Bhai. It is in family space," he added. Barjatya shared that it is <keyword id="6355601" type="General" weightage="80" keywordseo="khan" source="Orion">Khan</keyword> who often encourages him to make family-oriented movies. "He says 'I do my action everywhere but we will do family (dramas) together. He always encourages me to go back to what we do, he is like let's do the same thing... Like having a brother, sister and family because no one does that today. "He says, 'Let's go back to these (films)'. Essentially, it is a part of his life and even mine. Besides, both of us want to spend more time together," he said. Barjatya's last directorial was the 2015 film "Prem Ratan Dhan Payo", starring Khan and <keyword id="6505896" type="General" weightage="50" keywordseo="sonam-kapoor-ahuja" source="Orion">Sonam Kapoor Ahuja</keyword> in the lead. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/chief-twit-elon-musk-refuted-reports-of-twitter-layoff-before-nov-1/articleshow/95194068.cms">Chief Twit Elon Musk refuted reports of Twitter layoff before Nov 1</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/boat-joins-cult-fit-to-launch-at-home-workout-programme/articleshow/95199482.cms">boAt joins cult.fit to launch at-home workout programme</a>

Sooraj Barjatya to enter the OTT space, has three family-friendly web series under development

<ul><li>India’s central bank has come out with a clarification denying that it is against privatization of public sector banks. </li><li>This comes a day after media reports implied that the central bank was opposed to this policy. </li><li>The government has already announced its intention to privatize the Central Bank of India and Indian Overseas Bank. </li></ul>The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> today clarified that it is not against privatization of public sector banks, after reports yesterday stated that the central bank is of the view that rapid privatization does more harm than good. While the <keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> did not specifically deny the reports outright, the clarification seems to be a result of the implication that reports have drawn from the RBI research team’s article in its monthly bulletin. “The researchers are of the view that instead of a big bang approach, a gradual approach as announced by the Government would result in better outcomes,” said a statement by the RBI. The two public sectors which could be privatized are the Central Bank of India and Indian Overseas Bank. Earlier yesterday, media reports quoted the research team’s article, saying, “Privatisation is not a new concept, and its pros and cons are well known. From the conventional perspective that privatisation is a panacea for all ills, economic thinking has come a long way to acknowledge that a more nuanced approach is required, while pursuing it.” The article was penned by <keyword id="14760541" type="General" weightage="50" keywordseo="snehal-s-herwadkar" source="Orion">Snehal S Herwadkar</keyword>, <keyword id="14760540" type="General" weightage="50" keywordseo="sonali-goel" source="Orion">Sonali Goel</keyword> and <keyword id="14760542" type="General" weightage="50" keywordseo="rishuka-bansal" source="Orion">Rishuka Bansal</keyword> of the banking research division, department of economic and policy research, RBI. On the other hand, the National Council of Applied Economic Research (<keyword id="132873" type="General" weightage="80" keywordseo="ncaer" source="Orion">NCAER</keyword>) said that all public sector banks, except the <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, should be privatized. “In principle, the case for privatization we have made applies to all PSBs including <keyword id="13222" type="General" weightage="50" keywordseo="sbi" source="Orion">SBI</keyword>. But we recognize that within the Indian economic framework and political ethos, no government will want to be without a single PSB in its portfolio. Keeping this in view, the goal, whether stated explicitly or left implicit, should be to privatise all PSBs other than SBI,” the NCAER policy paper, authored by Poonam Gupta, director, NCAER, and <keyword id="6366253" type="General" weightage="50" keywordseo="arvind-panagariya" source="Orion">Arvind Panagariya</keyword>, former <keyword id="2665691" type="General" weightage="50" keywordseo="niti-aayog" source="Orion">Niti Aayog</keyword> vice chairman, said. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/the-economics-of-reliance-jios-5g-rollout/articleshow/93641787.cms">The economics behind Reliance Jio’s operations</a> <a href="https://www.businessinsider.in/stock-market/news/bse-market-cap-touches-280-lakh-crore-after-a-steep-18-rally-in-the-last-two-months/articleshow/93654855.cms">BSE market cap touches ₹280 lakh crore after a steep 18% rally in the last two months</a> <a href="https://www.businessinsider.in/finance/banks/news/rbi-cancels-license-of-pune-based-rupee-cooperative-bank-says-99-depositors-will-receive-full-refund/articleshow/93480997.cms">RBI cancels license of Pune-based Rupee Cooperative Bank, says 99% depositors will receive full refund</a>

RBI clarifies that it is not against privatization of public sector banks

New Delhi, July 5 (IANSlife) Indian Federation for Fashion Development's (IFFD) will be holding the second <keyword id="819905" type="COMPANY" weightage="20" keywordseo="Instagram">Instagram</keyword> edition of the fashion event India Runway Week from September 17-20. The first edition of the event on Instagram was held on September 12-15 2019 and witnessed 35 designers including veterans like Nikhil Thampi, Siddharth Tytler, Ashima Leena, Poonam Dubey, Nikhita Tandon, Kaaisha by Shalini, Niki Mahajan, Anjalee Arjun Kapoor and Manish Gupta, among others. With its second edition, 'Virtual <keyword id="1743" type="PERSON" weightage="20" keywordseo="fashion-week">Fashion Week</keyword> by India Runway Week' aims to create an eco-system to promote a digital platform of fashion week that is "inclusive to everyone and as it's safe to be indoor during Covid19." The event will have an interactive digital reach along with creating an ecosystem where designers, media and buyers can interact virtually with a focus on 100 percent #MadeDigitally. The model auditions will also be on Instagram using #tag #CastMeIRW. Avinash Pathania, founder, Indian Federation for Fashion Development said: "We are happy to launch the second edition of Virtual Fashion A week and this time it will be much bigger and better with more creative ideas to support it and make it different from all the other new entrants in the same kind of platform due to COVID-19 pandemic."

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