The trade deficit stood at $10.14 billion compared with $9.22 billion in November, a trade ministry official said on Friday.
The trade deficit stood at $10.14 billion compared with $9.22 billion in November, a trade ministry official said on Friday.
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In the fiscal year ended March, infrastructure output grew 3.2 per cent compared with 5 per cent in 2011/12.
Non-resident Indians are bringing gold into the country by taking advantage of rules that allow each individual to carry 1 kg of the metal, helping traders cope with restrictions on imports during the peak wedding season.
Anand Sharma, who will lead the delegation to Bali, said a group of 33 countries were supporting India's stand on the food subsidy programme which he said was 'sacrosanct, non- negotiable.'
The finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Food prices rose 18.19 per cent year-on-year in October, slower than an annual rise of 18.4 per cent in September.
Analysts polled by Reuters had expected an annual output growth of 3.5 per cent for the month.
India celebrated Dhanteras, the biggest gold buying festival, followed by Diwali, when scarcity of the yellow metal and high prices pushed consumers to buy silver and diamond jewellery.
Capital goods production, a barometer for investments in the economy, contracted by 2 per cent in August.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
Mayaram also said as of now, a shutdown of the US government is not likely to have a major impact on the Indian economy.
Arvind Mayaram, economic affairs secretary at the finance ministry, also said that a fall in bulk diesel demand this fiscal year will save the government about $1 billion.
Foreign direct investment inflows into India rose an annual 12.9 percent in July to $1.66 billion.
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
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Chidambaram, speaking to reporters, also said the fundamentals of the Indian economy had not changed and asked investors to wait for the April-June quarter growth numbers due at the end of the month.
Net tax receipts for the first three months of 2013 touched Rs 1.02 trillion.
By tying gold imports directly to export volumes, India is effectively trying to cap how much bullion can be brought into the country, tightening supplies and driving up local prices.
Government sources say India could consider raising the policy repo rate if the rupee falls towards 61-62 to the dollar.
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