The RBI's next policy review is set for Sept. 29.
Companies are still struggling to recover from years of exuberance.
Modi placed a $12.6 billion bet in this year's budget on road building
India's current limit of $25 billion for ownership of government bonds by FIIs is fully utilised, leading to calls for increasing it
India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
Worries over Greece sparked a sell-off in emerging markets on Monday
Retail food inflation eased to 4.80% last May.
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
New Delhi says existing food stocks will be sufficient to contain any food price shock.
Overhauling India's bloated and often sluggish state banks is critical for the government
He assured fears of food shortages were far-fetched.
A gradual weakening of the rupee, however, may add to inflationary pressures.
Rbi cut rates for teh third time to ease economic situation.
RBI will cut rates in its next policy announcement on June 2.
To cover most of the gap, the road ministry plans to raise $7 billion.
India likely to overtake China on strong GDP growth.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
Modi has taken a slew of measures to attract investment, but he has yet to initiate steps that could help repair corporate balance sheets.
The convertibility is RBI Governor's 'next big ambitious goal'.
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