Based on the evidence at hand, Modi's goal of scripting a broader, lasting upturn appears some way off, says Rajesh Kumar Singh.
India could allow global online retailers such as Amazon.com Inc to sell their own products as early as next month, removing restrictions that could boost competition in one of the world's biggest, and most price-sensitive, retail markets.
.jpg)
A Reuters poll had forecast retail inflation would edge up to 8.48 per cent from 8.31 per cent in March.
Analysts polled by Reuters had forecast a contraction of 1.5 per cent in output.
Analysts polled by Reuters had forecast an annual growth of 0.9 per cent in output.
The finance minister chided the central bank on Tuesday over its focus on fighting inflation, saying the Reserve Bank of India (RBI) also needed to abide by the government policy to promote economic growth.
India said on Tuesday it was investigating US policies supporting solar panel makers, the latest move in an escalating row over renewable energy that has worsened already strained ties between the two countries.
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
In November, wholesale prices, India's main inflation measure, rose 7.52 percent, their fastest pace in 14 months.
Food prices for consumers last month rose 12.16 per cent from a year earlier, slower than November's 14.72 per cent rise.
.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".
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.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances