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Jan 11, 2012

Budget needs to signal fiscal correction: Ahluwalia

NEW DELHI (Reuters) – India’s budget for 2012/13 should send a credible signal on fiscal consolidation by reforming the petroleum subsidy, Montek Singh Ahluwalia, deputy chairman of the planning commission, said in an interview.

The government is expected to present a budget in mid-March for the fiscal year that begins on April 1, amid slowing economic growth and mounting concerns about public finances.

Jan 11, 2012

India budget needs to signal fiscal correction-adviser

NEW DELHI, Jan 11 (Reuters) – India’s federal budget
for 2012/13 should send a credible signal on fiscal
consolidation by reforming the petroleum subsidy, a top
government adviser said in an interview.

The government is expected to present a budget in mid-March
for the fiscal year that begins on April 1, amid slowing
economic growth and mounting concerns about public finances.

Jan 5, 2012

Amid gloom, Kaushik Basu upbeat on growth

NEW DELHI (Reuters) – For all the sudden pessimism about India’s economy, Kaushik Basu sleeps soundly at night – and if something was going to keep him awake it wouldn’t be the risk of a balance of payments crisis.

Out of tune with a chorus of gloom, India’s chief economic adviser believes the tide has turned in a long battle against inflation and the economy is set to rebound to its “full-steam” growth rate of around 9 percent within two years.

Jan 4, 2012

Economy likely to do better in 2012/13: Basu

NEW DELHI (Reuters) – India’s economy will likely grow faster next fiscal year than in 2011/12 because of an improved external environment and a shift in policy focus from containing inflation to promoting growth, Chief Economic Adviser Kaushik Basu said on Wednesday.

However, Basu told Reuters in an interview that public finances were expected to remain under pressure in 2012/13.

Jan 4, 2012

India economy seen doing better in 2012/13

NEW DELHI, Jan 4 (Reuters) – India’s economy will
likely grow faster next fiscal year than in 2011/12 because of
an improved external environment and a shift in policy focus
from containing inflation to promoting growth, a top government
adviser said on Wednesday.

However, Chief Economic Adviser Kaushik Basu told Reuters in
an interview that public finances were expected to remain under
pressure in 2012/13.

Dec 9, 2011

Behind India’s reform fiasco, a party in crisis

NEW DELHI (Reuters) – Returning to India from a summit in Bali last month, Manmohan Singh was cheerful and determined: once dubbed “the leader other leaders love”, he’d enjoyed meeting Chinese Premier Wen Jiabao and U.S. President Barack Obama, one of his biggest admirers.

With a host of long-stalled reforms ready for debate in the next parliamentary session, he told a close colleague he was ready to get down to business.

Dec 9, 2011

Analysis: Behind India’s reform fiasco, a party in crisis

NEW DELHI (Reuters) – Returning to India from a summit in Bali last month, Manmohan Singh was cheerful and determined: once dubbed “the leader other leaders love,” he’d enjoyed meeting Chinese Premier Wen Jiabao and President Barack Obama, one of his biggest admirers.

With a host of long-stalled reforms ready for debate in the next parliamentary session, he told a close colleague he was ready to get down to business.

Nov 30, 2011

In world’s biggest democracy, parliament doesn’t work

NEW DELHI (Reuters) – India’s parliament has always been a boisterous and chaotic place that, like the country itself, still somehow worked: these days, it’s not even muddling through.

Proceedings have been abruptly called off every day so far since the 21-day winter session of the bicameral parliament opened last week because of the din raised by legislators bawling at each other across the floor of the house.

Nov 27, 2011

Analysis: In India, a sense of crisis fans embers of reform

NEW DELHI (Reuters) – Prime Minister Manmohan Singh’s move to open India’s protected retail sector to global supermarket giants last week surprised critics who had written him off as a policy ditherer, but he was probably motivated by expedience rather than any reformist zeal.

India’s stellar economic growth is slowing, the rupee has skidded to record lows and inflation is stuck close to a double-digit clip. Faced with this predicament, Singh may have simply weighed the benefits of opening a $450 billion market to foreign investment against the political risk, and taken his chance.

Nov 27, 2011

In India, a sense of crisis fans embers of reform

NEW DELHI, Nov 27 (Reuters) – Prime Minister Manmohan
Singh’s move to open India’s protected retail sector to global
supermarket giants last week surprised critics who had written
him off as a policy ditherer, but he was probably motivated by
expedience rather than any reformist zeal.

India’s stellar economic growth is slowing, the rupee has
skidded to record lows and inflation is stuck close to a
double-digit clip. Faced with this predicament, Singh may have
simply weighed the benefits of opening a $450 billion market to
foreign investment against the political risk, and taken his
chance.

    • About John

      "John Chalmers is the Reuters' Bureau Chief for South Asia. He was previously a correspondent in London, Paris, Hanoi, New Delhi and Brussels."
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