The finance ministry welcomed an inter-meeting rate cut by Reserve Bank of India (RBI) on Thursday, saying it reflected easing inflation concerns and vindicated the government's efforts to achieve economic growth without stoking inflation.
The Russian Direct Investment Fund will team up with an Indian partner to invest $1 billion in hydroelectric projects in Asia's third-largest economy, the head of the Russian state fund told Reuters on Wednesday.
Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced.
Modi promised in his 2014 election campaign to recover billions of dollars sent to tax havens abroad to avoid income tax, now about 30 per cent in India
The government had no option but to cut spending to meet its borrowing targets.
China said the US delegation's visit to Dharamshala and their meeting with the Dalai Lama has "sent a very wrong signal to the outside world about supporting Tibetan independence and violated the US government's commitment not to support Tibet's independence."
The push to connect India and drive a national fibre optic network, first approved by the last government in 2011, has made slow progress
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
Money will be earmarked for the social sector - especially rural districts that house three-fifths of voters
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.
Exports to Europe shrank by near 2 per cent in the 11 months.
Air travel penetration in India remains small in global terms, with 0.04 annual trips per capita against 0.3 in China and more than two in the United States.
Modi denies the charges and was exonerated in an Indian Supreme Court inquiry in 2012.
To meet the target, agriculture must grow at 15% compared to average of below 2% over the past four years
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.
Politically, it will not be easy for Modi to take hard decisions such as raising fuel prices in the first budget, given the risk of higher inflation.
Jaitley promised higher investment in roads and railways.
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
As Modi completes a year in office, his cuts in federal welfare spending on the poorest of India's 1.25 bn people are coming in for sharp criticism.
The first signs of growing bonhomie between Modi and Rajan came early last year, when Modi called Rajan the "best teacher" for explaining complex economic issues to him.
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