Petrol prices have been cut in small doses on 20 occasions.
The RBI Governor had earlier cautioned the banks on the risks involved in just hunting for numbers, asking them not to compromise on core objectives of the programme.
Chinese stock markets suffered their biggest single-day drop since the global financial crisis.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
Indian basket at 6-month low of $49.11 a bbl
'Change is the rule of politics.'
Having faced a debacle in four Assembly elections recently, the UPA government is exploring ways to woo voters before the coming general elections - without deviating from the path of fiscal consolidation.
Noting that Aadhaar was an 'irreversible process', Unique Identification Authority of India Chairman Nandan Nilekani said on Friday they have targeted to enroll 60 crore (600 million) people by 2014.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
The Budget will indicate where the Modi government stands on reforms, growth and development.
The challenge of achieving fiscal deficit targets for the next two years seems daunting.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
These are initiatives not commonly seen in economic administration.
Mr Modi must now work to win over the governor as a friend and learn to influence people credibly.
While naysayers say the economy is on a downward spiral, optimists point out that India has experienced a shift of gears in the realm of policies, thanks to several initiatives of the Narendra Modi government, says Ashok K Lahiri.
The finance ministry website that lists the total disinvestment revenues to be mobilised during the current year already shows that no receipts are expected from strategic sales in the current year.
Economic growth in the last two years has stayed above seven per cent.
Three recent initiatives kicked off with renewed vigour to improve governance were actually started, perhaps in a different format by the UPA government.
Four specific areas will be watched carefully in the first half of FY16
NDA's energy plan powered UP win, but it's not a winner yet. Centre has claimed to have saved money by targeted coverage but critics say the system is not yet foolproof.
Assessing the shape of the Indian economy just a couple of days ahead of the Union Budget for 2016-17, Saugata Bhatacharya, senior vice president and chief economist, Axis Bank, speaks about his budget wishlist and suggests measures that can help finance minister Arun Jaitley achieve the targeted fiscal deficit of 3.5 per cent of India's gross domestic product.
Not only do you need an effective and independent regulator, you also need competition to flourish.
The Budget decides to take the lead in revving up infrastructure.
Angry Congress members staged a walkout during Modi's address.
'The finance minister and the government have met the immediate challenge. The wine this time is new and also in a new bottle, which, though not full, is less than half empty.'
China's economy is in transition, with rising wage costs and massive overcapacity.
Finance Minister Arun Jaitley said the inflation index would determine the nominal growth figure, and it is better to set modest targets and outperform them.
'When he first came to office, my belief is that the PM's reading of the landscape was that, with a vanquished Congress and fragmented Opposition, he was looking at least at two terms in office. This reading perhaps allows for a more cautious, gradual approach.' 'It was only a matter of time before the government was forced to come face-to-face with a serious corruption scandal. This is not a commentary on the BJP, but a statement about India's political economy.' 'There is growing concern about the government's commitment to freedom of expression, religious tolerance, and an independent civil society. Thus far, the positive movement on strategic and economic matters has crowded out these concerns, but they are lingering beneath the surface.'
The most immediate cause of worry is the recent volatility in foreign exchange markets, Prime Minister Manmohan Singh tells the Assocham annual general meeting.
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