‘Over­es­ti­mated GDP growth’

DNA (Daily News & Analysis) Mumbai Edition - - FRONT PAGE -

Arvind Subra­ma­nian, Naren­dra Modi gov­ern­ment’s for­mer chief eco­nomic ad­viser, has de­duced that In­dia’s eco­nomic growth rate has been over­es­ti­mated by around 2.5 per­cent­age points be­tween 201112 and 2016-17 due to a change in method­ol­ogy for cal­cu­lat­ing GDP. In­dia’s gross do­mes­tic prod­uct prod­uct (GDP) growth rate be­tween this pe­riod should be about 4.5% in­stead of the of­fi­cial es­ti­mate of close to 7%, he said in a re­search pa­per pub­lished at Har­vard Univer­sity.

Panel to re­view ATM charges

Re­serve Bank of In­dia has con­sti­tuted a high­level com­mit­tee un­der IBA chief ex­ec­u­tive V G Kan­nan to ex­am­ine ATM charges and fees by banks amid de­mands for re­view­ing the levies. The use of ATMS has been grow­ing sig­nif­i­cantly and there have been per­sis­tent de­mands to change ATM charges and fees. The six-mem­ber panel will re­view the ex­ist­ing struc­tures and pat­terns of costs, charges and in­ter­change fees for ATM trans­ac­tions, RBI said on Tues­day.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.