Pressure on the government increased with the Reserve Bank of India's surprise move on Thursday to cut interest rates
In cutting interest rates and giving a boost to the government's efforts to revive growth, RBI governor Raghuram Rajan displayed the pragmatism and flexibility familiar to those who work with him.
However, some analysts say RBI Governor Raghuram Rajan may delay the rate cuts amid mounting concerns over the government's fiscal health.
Food costs jumped up year-on-year.
Economist Arvind Panagariya has also argued for loosening deficit targets to boost capital spending
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
The government is now contemplating issuing an executive order to implement these measures, which would need to be approved by lawmakers within six weeks of the opening of the next session of parliament, scheduled for the beginning of February. India's president would also need to agree.
Modi orders coal, insurance sector reforms.
Modi, who was elected in May with a mandate to provide jobs and economic growth, has seen his reform agenda stymied by controversial statements by lawmakers in his party
Imports of machinery and transport equipment grew about 40 per cent month-on-month
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Large state-run entities and business houses will not be allowed to set up small finance banks, which will have to comply with statutory reserve requirements.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
Rajasthan has taken the lead on structural reforms which could help India attract business and employ a fast-growing workforce.
It doesn't appear to be happening yet, even though India's stock market has been Asia's best performer this year.
Industrial production was upwardly revised to 0.5 per cent year-on-year in August from 0.4 per cent earlier.
Consumer food price inflation, under a new series published by the government, eased to 5.59 per cent last month from 7.67 per cent in September.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
ICICI Venture denied the allegations, noting it had extended the lifespan of the Dynamic India Fund III by three years
For now, the upside appears to offset damage done to exports by weaker global demand.
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