Kaushik Basu News
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Developing economies are bound to play a larger role in financial markets as their share of global capital is seen rising to 50 percent by 2030 from less than one- third today, the World Bank’s chief economist said.
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World Bank Chief Economist Kaushik Basu recommended that developed nations let inflation accelerate for a limited period to prompt a faster exit from global economic stagnation he sees lasting two more years.
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Three-year loans granted by the European Central Bank last year will disrupt the global economy when the debt matures in 2014 and 2015, according to World Bank Chief Economist Kaushik Basu.
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The European debt crisis may be advantageous for India’s capital markets if it is contained, Kaushik Basu , chief economic adviser in India’s Finance Ministry, told the Press Trust of India.
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India will further withdraw fiscal stimulus as it strives to tame inflation in an economy set to return to 9 percent growth, Kaushik Basu , the chief economic adviser in the finance ministry said.
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Major economic reforms in India are unlikely to take place before 2014, when a new federal government is voted into power, Kaushik Basu, chief economic adviser in the finance ministry, said in Washington yesterday, Press Trust of India reported.
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India’s inflation rate may “peak” in August and will be about 10 percent, Kaushik Basu, the chief economic adviser in the finance ministry, said after the price gauge eased for a third straight month in July.
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Gold climbed to the highest in three weeks as concern that Europe’s debt crisis may intensify boosted the appeal of the precious metal as a haven. Palladium slumped the most in more than four months.
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India’s current inflation is partly driven by an increase in labor costs, Kaushik Basu, chief economic adviser in the finance ministry, said in New Delhi today.
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India’s central bank needs to consider a credit crunch while setting interest rates after payment of license fees for third-generation phone services drained cash, said Kaushik Basu , chief economic adviser in the finance ministry.
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