Modi's'Make in India' drive launched last September included laying out a model of "port-led" development that would support industrial growth.
Finance Minister Arun Jaitley sought parliament's approval on Friday to increase the spending budget for this fiscal year by $4 billion, with almost half to be used to inject extra capital into state banks struggling with bad loans.
Economists and investors want RBI to retain independence in setting rates
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
Worries over Greece sparked a sell-off in emerging markets on Monday
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
Bad debt rules are steps in right direction.
Modi's government plans to support domestic demand
The government had no option but to cut spending to meet its borrowing targets.
Officials said the government had no option but to cut spending.
State Bank of India expects decent growth in FY16.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
The RBI holds its next policy meeting in early June.
The finance ministry is seeking to speed up deals with outside investors.
Modi sees export-led growth one of the best ways to create jobs.
The introduction of GST would constitute India's biggest reform.
The convertibility is RBI Governor's 'next big ambitious goal'.
Axis Bank has reported a better-than-expected 18.4 per cent increase in quarterly net profit.
ICICI Bank puts up a good show in Q4.
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