Data earlier on Thursday showed the annual consumer price inflation rose to a higher-than-expected 11.24 per cent in November from 10.17 per cent in October.
.jpg)
Imports of gold virtually stopped since July 22 after confusion on the new import rules.
.jpg)
Food prices for consumers also eased to an annual 11.06 percent in August from 11.24 per cent in July.
On Tuesday, the partially convertible rupee, the worst performing currency among the major global economies, dropped as much as 3.1 percent to 68.12 per dollar.
India's fiscal deficit during the 2012/13 fiscal year ending March fell to 4.9 per cent of the country's gross domestic product, compared with 5.8 percent a year ago.
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.
.jpg)
India has in recent months stepped up enforcement of tax collections as it looks to raise revenue to help plug its widening fiscal deficit.
The Reserve Bank of India announced measures late on Monday to curb the rupee's decline by tightening liquidity.
Media has raised the issues that new pricing to benefit Reliance Industries.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
SEBI has raised the investment limits for foreign investors.
India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
Mayaram said the concerns over the pace of implementing economic reforms were "overstated".
Can the Indian hedge fund managers convince the wealthy to take up the expensive investment strategy?
Keeping that much money out of the banking system has created a liquidity deficit that has forced banks to borrow as much as RS 1.6 trillion from the central bank to meet daily funding needs.
His officials are working on a series of steps to attract at least $20 billion in new investment to fund the deficit without depleting India's $300 billion in forex reserves.
While the country imposed limits, it also eased and simplified other restriction to attract foreign inflows. This is done to plug record current account deficit.
It believes that BSE Sensex will reach 22,500 by December-end.
Higher food prices can accelerate broader inflation by pushing up wages, while negatively impacting the government finances and reducing monetary policy flexibility, Moody's said in a report.
The wholesale price index, the main inflation indicator, rose an annual 6.84 per cent in February, higher than the 6.54 per cent rise estimated by analysts.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances