Highlights from Raghuram
Rajan’s Speech on Monetary
- Keeps repo rate unchanged at 6-75 per cent.
- Keeps CRR unchanged at 4 per cent.
- Expects inflation to be around 5 per cent by March 2017.
- Expects GDP growth of 7-6 per cent for FY17, 7-4 per cent with downward bias for FY16.
- Indian economy lost momentum in
- Have not factored in 7th pay panel recommendation in inflation target.
- Continue to remain accommodative even if rates remain unchange.
- Working with banks and government to ensure identification of stressed assets.
- Bearish commodity price dynamics are also likely to impact investor sentiment.
- Marginal standing facility rate and Bank Rate at 7-75 per cent.
- RBI to create a special ecosystem for startup funding.
- Prospects for the rabi harvest are improving slowly.
- First bi-monthly monetary policy for 2016-17 on April 5, 2016.
- India has ranked 89th globally in Global Talent Competitiveness Index (GTCI) 2015-16 in list of 106 assessed countries in terms of talent competitiveness of its human capital.
- This GTCI list was compiled by INSEAD business school in partnership with Adecco and Human Capital Leadership Institute of Singapore (HCLI). This index measures a nation’s
’ competitiveness based on the quality of talent it can produce, attract and retain.
- In this edition of list top 20 . scoring countries are all high-
income countries. The top rankings were dominated by European countries.
- Top 10 in GTCI list: Switzerland (1st), Singapore (2nd), Luxembourg (3rd), United States (4th), Denmark (5th), Sweden (6th), United Kingdom (7th), Norway (8th), Canada (9th) and Finland (10th).
- Bottom 5 countries: Mali (105th), Tanzania (106th), Ethiopia (107th), Burkina Faso (108th) and Madagascar (109th).
India Slips to 89th Rank on
Global Talent Competitiveness
- Reflecting an acute shortage of skilled labour force and difficult business conditions, India has slipped 11 places to rank 89th on a global index of talent competitiveness as compared to 78th position in 2014-15.
- India’s ranking is worst among the five BRICS countries, with China leading the pack with a global rank of 48.
International Monetary Fund