NEW DELHI, Oct 9 (Reuters) – U.S. Treasury Secretary Timothy
Geithner welcomed New Delhi’s new-found appetite for economic
reform on Tuesday, barely three months after Washington had
voiced concern about India’s deteriorating investment climate.

Hailing the latest reforms as “significant”, Geithner told a
news conference with Indian Finance Minister P. Chidambaram in
New Delhi that the policies offered “a very promising path to
improving growth outcomes for the Indian economy”.

NEW DELHI, Oct 9 (Reuters) – India’s new drive to reform its
economy will spur growth in private investment and income, U.S.
Treasury Secretary Timothy Geithner said on Tuesday, welcoming
recent steps that have ended more than a year of policy
paralysis in New Delhi.

Sitting beside P. Chidambaram, whose appointment as India’s
finance minister in August helped trigger the rash of reforms,
Geithner said the new policies offered “a very promising path to
improving growth outcomes for the Indian economy”.

NEW DELHI (Reuters) – The economic slowdown has bottomed out, but a full recovery requires tough decisions, Finance Minister P. Chidambaram said on Monday, signalling his intent to push through unpopular reforms.

After years of policy inertia that hit investments, slowed economic growth to a near three-year low and put India’s investment-grade credit rating in peril, the Congress-led ruling coalition is on a reform overdrive.

NEW DELHI, Oct 8 (Reuters) – India’s economic slowdown has
bottomed out, but a full recovery requires tough decisions,
Finance Minister P. Chidambaram said on Monday, signalling his
intent to push through unpopular reforms.

After years of policy inertia that hit investments, slowed
economic growth to a near 3-year low and put India’s
investment-grade credit rating in peril, the Congress-led ruling
coalition is on a reform overdrive.

NEW DELHI (Reuters) – The cabinet approved bills on Thursday to attract foreign investment into insurance and pensions in the latest move by Prime Minister Manmohan Singh to restore confidence in the economy, but the reforms will face a tough fight in parliament.

The insurance bill would raise the cap on foreign ownership of insurance companies to 49 percent, Sports Minister Ajay Maken told reporters after the cabinet meeting at Singh’s residence. The limit now is 26 percent.

NEW DELHI, Oct 4 (Reuters) – India’s cabinet approved bills
on Thursday to attract foreign investment into insurance and
pensions in the latest move by Prime Minister Manmohan Singh to
restore confidence in the economy, but the reforms will face a
tough fight in parliament.

The insurance bill would raise the cap on foreign ownership
of insurance companies to 49 percent, Sports Minister Ajay Maken
told reporters after the cabinet meeting at Singh’s residence.
the limit now is 26 percent.

NEW DELHI (Reuters) – India could amend controversial rules on tax avoidance within 20 days, Finance Minister Palaniappan Chidambaram said on Monday, potentially ending months of uncertainty after the prime minister ordered a panel to clarify the tax proposals that had hurt investor confidence.

The finalized General Anti-Avoidance Rules (GAAR), which would target companies and investors routing money through tax havens, are expected to be softer on investors than originally proposed in the budget.

NEW DELHI, Oct 1 (Reuters) – India could amend controversial
rules on tax avoidance within 20 days, the finance minister said
on Monday, potentially ending months of uncertainty after the
prime minister ordered a panel to clarify the tax proposals that
had hurt investor confidence.

The finalized General Anti-Avoidance Rules (GAAR), which
would target companies and investors routing money through tax
havens, are expected to be softer on investors than originally
proposed in the federal budget.

NEW DELHI (Reuters) – Indian Prime Minister Manmohan Singh warned that a prolonged policy logjam could slow economic growth to 5 percent, a day after India unexpectedly unveiled long-delayed reforms aimed at reviving growth and preventing a credit-rating downgrade.

Political opponents and a key coalition ally took to the streets on Saturday to protest Friday’s move to allow foreign players into the supermarket industry and Thursday’s decision to increase heavily subsidised diesel prices.

NEW DELHI (Reuters) – Prime Minister Manmohan Singh warned on Saturday that a prolonged policy logjam could slow economic growth to 5 percent, a day after the government unveiled long-delayed reforms aimed at reviving growth and preventing a credit rating downgrade.

Singh said at a planning commission meeting to finalise investment targets for the five years to March 2017 that the government would aim for 8.2 percent annual growth over that period, down from an earlier target of 9 percent. He also outlined three potential scenarios at Saturday’s meeting.