NEW DELHI India is poised to raise the subsidies for the world's biggest food welfare program by 6.5 percent for the fiscal year beginning April 1, the smallest increase in three years, in the nation's interim budget next month, two sources directly involved in the decision told Reuters.
NEW DELHI The Indian government is likely to seek to raise about 800 billion rupees ($11.21 billion) through the sale of state-owned assets in the next fiscal year, beginning April 1, two government sources with direct knowledge of budget discussions told Reuters on Tuesday.
NEW DELHI India's top business groups on Thursday urged the central bank to cut its benchmark interest rate by at least half a percentage point and lower the cash reserve ratio it imposes on banks to stimulate an economy that is showing signs of weakness.
NEW DELHI, Jan 17 India's top business groups on
Thursday urged the central bank to cut its benchmark interest
rate by at least half a percentage point and lower the cash
reserve ratio it imposes on banks to stimulate an economy that
is showing signs of weakness.
NEW DELHI India's annual retail inflation rate dropped to an 18-month low of 2.19 percent in December, strengthening views of some economists that the central bank could ease monetary policy next month as prices for many food items fell and the nation faces a manufacturing slowdown.
* Dec CPI food inflation down 2.51 pct y/y vs 2.61 pct fall
NEW DELHI The Reserve Bank of India is accountable to the government and should make policies within the framework set by the government, according to a former central bank chief now heading a panel tasked with framing guidelines for the transfer of the RBI's surplus funds to the government.
NEW DELHI India's government announced a change in national sales tax rules on Thursday that would exempt an additional two million small businesses, in a move that could help garner support ahead of a general election that must be called by May.
NEW DELHI India's parliament passed a landmark bill on Wednesday reserving 10 percent of government jobs for people outside high income brackets, a move criticised by some as a pre-election gimmick amid high unemployment.
NEW DELHI, Jan 9 India's parliament will pass a
landmark bill on Wednesday reserving 10 percent of government
jobs for the less well-off, a move criticised by some political
analysts as a pre-election "gimmick" amid high unemployment
rates in the country.