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
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
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.
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.
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
The convertibility is RBI Governor's 'next big ambitious goal'.
Exports to Europe shrank by near 2 per cent in the 11 months.
India needs to move towards full capital account convertibility to become a leading global economy.
Sebi has long struggled with balancing the needs of small investors and those of the market.
It was 2.6% in January.
The 30-share Sensex was up 191 points at 28,707.75 and the 50-share Nifty was up 54 points at 8,714.
New Delhi has missed its target for partial privatisations for the past five years
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