Manoj's Feed
Mar 6, 2015

Government faces potential clashes with RBI over who decides rates

MUMBAI/NEW DELHI (Reuters) – Having agreed this week to formally adopt inflation targeting as a guiding star for monetary policy, India’s government and central bank remain at odds over how crucial decisions are made.

Both sides support the setting up of a Monetary Policy Committee, as first officially proposed in 2014 when a different government was in power, and Reserve Bank of India (RBI) Governor Raghuram Rajan was just four months into the job.

Mar 5, 2015

India’s government faces potential clashes with RBI over who decides rates

MUMBAI/NEW DELHI (Reuters) – Having agreed this week to formally adopt inflation targeting as a guiding star for monetary policy, India’s government and central bank remain at odds over how crucial decisions are made.

Both sides support the setting up of a Monetary Policy Committee, as first officially proposed in 2014 when a different government was in power, and Reserve Bank of India Governor Raghuram Rajan was just four months into the job.

Mar 2, 2015

India overhauls monetary policy using inflation targets

MUMBAI/NEW DELHI (Reuters) – India’s government and central bank have agreed to commit to inflation targeting, in the biggest change to monetary policy since India’s economy was opened up more than two decades ago, putting priority on subduing almost chronically volatile prices.

In a document dated Feb. 20 but published on the ministry website on Monday, the two sides set a consumer inflation target of 4 percent, with a band of plus or minus 2 percentage points, for the financial year ending in March 2017.

Feb 28, 2015

India to inject $1.3 bln to shore up state banks

MUMBAI/NEW DELHI, Feb 28 (Reuters) – India will inject 79.4
billion rupees ($1.3 billion) into state-owned banks in the next
fiscal year to bolster their capital reserves, a
smaller-than-expected sum which means the sector’s heavyweights
may have to turn to the market or curb lending.

Successive governments have poured billions into India’s
bad-debt burdened state banks, even while warning the support
was unsustainable. The Reserve Bank of India estimates lenders
need more than $40 billion to meet global Basel III norms by
2019.

Feb 28, 2015

Jaitley goes for growth, slower fiscal deficit cuts

NEW DELHI (Reuters) – Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.

Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi’s landslide election victory last May, said growth would accelerate to between 8 and 8.5 percent in the fiscal year starting in April.

Feb 28, 2015

India’s Jaitley goes for growth, slower fiscal deficit cuts

NEW DELHI, Feb 28 (Reuters) – India’s Finance Minister Arun
Jaitley announced a budget for growth on Saturday, saying the
economy was ready to “fly”, that the government would boost
investment and ordinary people should benefit.

Jaitley, delivering his first full-year budget since Prime
Minister Narendra Modi’s landslide election victory last May,
said economic growth would accelerate to between 8 and 8.5
percent in the fiscal year starting in April.

Feb 28, 2015

India’s Jaitley unveils budget for growth, investment

NEW DELHI (Reuters) – India’s Finance Minister Arun Jaitley announced a budget for growth on Saturday, saying the economy was ready to “fly”, that the government would boost investment and ordinary people should benefit.

Jaitley, delivering his first full-year budget since Prime Minister Narendra Modi’s landslide election victory last May, said economic growth would accelerate to between 8 and 8.5 percent in the fiscal year starting in April.

Feb 27, 2015

India in ‘sweet spot’ of lower deficits, more growth: government

NEW DELHI (Reuters) – India can increase investment to drive economic growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday.

The Economic Survey, the basis for Jaitley’s budget for the fiscal year starting April 1, forecast growth of 8.1 percent to 8.5 percent under new calculations that make India the world’s most dynamic big economy. The forecast marks an acceleration from growth of 7.4 percent in the current fiscal year.

Feb 27, 2015

India in “sweet spot” of lower deficits, more growth – Economic Survey

NEW DELHI (Reuters) – India can increase public investment to drive growth without borrowing more, a key government report said on Friday, in an indication that Finance Minister Arun Jaitley will stick to debt targets in his maiden full-year budget on Saturday.

The economic survey, the basis for Jaitley’s budget for the fiscal year starting April 1, forecast the economy would grow by 8.1-8.5 percent under a new calculation method that makes India the world’s top-growing big economy.

Feb 27, 2015

India in “sweet spot” of lower deficits, more growth – govt

NEW DELHI, Feb 27 (Reuters) – India can increase public
investment to drive growth without borrowing more, a key
government report said on Friday, in an indication that Finance
Minister Arun Jaitley will stick to debt targets in his maiden
full-year budget on Saturday.

The economic survey, the basis for Jaitley’s budget for the
fiscal year starting April 1, forecast the economy would grow by
8.1-8.5 percent under a new calculation method that makes India
the world’s top-growing big economy.