S Mahendra Dev, chairman of the Economic Advisory Council to the Prime Minister, expressed confidence that the rupee would stabilise around the 92-93 level against the US dollar, despite geopolitical tensions, and that foreign investment flows would return.
He said in order to have a thriving democracy, one must have an independent judiciary because it is through dispute resolution that society is assured of governance by the rule of law.
Economic growth in the second quarter will be lower than the 8.8 per cent expansion witnessed in the first quarter, Chief Economic Advisor Kaushik Basu said on Monday.
The value-added tax system proposed to be introduced from April 1, 2005 replacing the sales tax system, would be fine-tuned over time to free it from distortions, advisor to the finance ministry Parthasarathi Shome said on Monday.
Narendra Modi, says T V R Shenoy, is 'busy trying to woo back two constituencies that were crucial when the BJP won power in the elections of 1998 and of 1999, namely UP (and the Hindi belt in general) and educated youth.'
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