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Companies are legally allowed to invest in markets in India, but the practice has seldom stirred central bank concern until recently, when they have become much more active players.
'Our target is to award Rs 25 lakh crore worth of projects that would result in creating 25 million jobs'
The parlous state of Asia's third largest economy was reflected in the rupee's 18 per cent plunge against the dollar to all time lows since May, when signals emerged that the US Federal Reserve was considering winding down an easy money strategy that had benefitted emerging markets like India.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
Will RBI chief have the final say, in the form of a veto
The Reserve Bank of India cut its repo rate by 25 basis points to 6.50 per cent.
The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target as reasons.
RBI's surprise rate cut has revived sentiments of India Inc.
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
Experts hail Budget 2015 as a progressive, growth oriented one.
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