Why easy flow of money is worrying economists

Leading titans of the global banking industry sounded rather concerned about the trillions of dollars central banks have been pumping into the financial system and the impact it could have in the long run

World's top banks including US-based JP Morgan and UBS of Switzerland today said there is a need for new strategy to chart the future growth path but warned that any regulatory over-burden would work against not only the banks but also the overall economy and the common people.

Speaking to NDTV Profit on the sidelines of the World Economic Forum (WEF) meet in Davos, Adi Godrej, chairman of the Godrej group, says the passage of Goods and Services Tax (GST) will see India return to 8 per cent growth.

Parliamentary Affairs Minister Kamal Nath, for the first time, made it clear that Rahul Gandhi was the Congress party's choice to be the prime ministerial candidate for the 2014 general elections. Speaking exclusively to NDTV, Mr Nath said, "I think, everyone in the party, there is consensus that they would like to see Rahul Gandhi... it is not like there are names fl...

Congress Vice President Rahul Gandhi officially took charge as the party's number 2 in Delhi this evening, promising to practice "positive politics." In faraway Davos, senior minister Kamal Nath told NDTV that for him and for every other Congressman, Mr Gandhi is also the only candidate for Prime Minister in 2014.

Speaking in the Indian context, Mr. Mahindra said that while the country was at the cusp of a major uptrend in innovation, India and China will not live up to their own aspirations simply by doing jugaad, or frugal innovation.

World business leaders today said there is a need for a 'golden triangle' collaboration between governments, companies and the civil society to rejuvenate the global economy, create jobs and fight corruption.

Leading world bankers at the World Economic Forum in Davos, Switzerland, are on the defensive amid demands to regulate their industry more closely following a financial crisis that has battered large chunks of the global economy.

Global markets have calmed significantly in the past year, but the world economy is not out of the woods yet, a panel of top officials and bankers said Wednesday as the World Economic Forum opened.

The high confidence levels of Indian CEOs is in sharp contrast to the declining confidence level of CEOs across the world in their own businesses as well as for the broader economic scenario.

The chief executive officers (CEOs) of Indian companies have emerged as the most optimistic lot in the world when it comes to expectations for improvement in global economy this year and revenue prospects of their own businesses in the longer term.

Half a decade on from the financial crisis, investors want to see earnings driven by more than just cost cutting.

He said that while the government's recent spate of reforms, including the relaxation of FDI norms is an indication of progress that the government hopes to bring about, the steps were "too little, too late".

Mr Premji was speaking to NDTV on the sidelines of the six-day long World Economic Forum meet, which kicked off yesterday in Davos, Switzerland. Here is an edited transcript of the interview:

Indias super-rich cannot treat extreme wealth as personal wealth, Wipro chairman Azim Premji has said, calling for higher consciousness among Indias wealthy. In such a poor country, there is a legitimacy in taxing the super-rich, he said.

Wipro chairman Azim Premji today expressed optimism over the state of global economy, saying the US has been showing positive signs of late. "...And the US drives a lot of the world scene," Mr Premji told NDTV Profit on the sidelines of the six-day long World Economic Forum meet, which kicked off today at Davos, Switzerland.

Chief executives are less optimistic about short-term growth prospects for their companies than a year ago, according to a survey that offers a reality check on rising stock markets.

Indian leaders are all set to showcase the country as an attractive investment destination, especially for retail and IT, at this year's WEF meet that began today at the snow-laden Swiss town amid uncertain global economic environment.

Given the persistent political unrests, natural disasters and cyber threats, 80 per cent the companies worldwide are seeking better protection of supply chains on priority basis, said a World Economic Forum report today.

The civil society is demanding social justice and accountability from all institutions in uncertain economic and political times globally, as technology has created more aware and educated population that is dominated by young cohorts, says a WEF report.