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
US officials said the win will help lower trade barriers and open new markets.
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.
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.
It was 2.6% in January.
New Delhi has missed its target for partial privatisations for the past five years
Investors and manufacturers have long advocated the GST.
IMF MD Christine Lagarde hailed the government's latest Budget.
Exports in February fell to $21.55 billion compared with $25.35 billion a year ago
Will RBI chief have the final say, in the form of a veto
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